Friday, April 1, 2016

Egregious Taxes Support Flight of Capital and Migration #Taxes

News
One day the majority will collectively realize that "taxing the hell out of the rich", the raising of taxes to egregious levels to buy votes or cover asses, influences where highly-mobile (generally wealthy) individuals/families choose to live, work, and think.

Money moves first. Intellectual capital follows next. Vibrant economies that depend on both for investment necessary to support existing and emerging business, the engine of job creation, disintegrate rather quickly. Just ask Greece! Or not, since few really want to learn. As long as the majority, misinformed by decades of flawed theories and substandard teaching, still believes the public sector and central bankers guide economies, history will repeat with yet another financial/economic crisis.

Headline: 10,000 millionaires left France last year

Millionaires are fleeing France.

Around 10,000 millionaires left the country in 2015, according to a report by New World Wealth, which provides analysis on the global wealth sector.

Paris saw the biggest exodus of high net worth individuals, with 7,000 millionaires leaving the city last year. That's roughly 6% of Paris' millionaires, a population of 126,000, according to the new report.


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