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(ABC)   Good news for American billionaires: There's a new country they can flee to when Obama jacks their tax rates up. Bad news: They'll have to eat cheese, drink wine, and wear stripey shirts and berets   (abcnews.go.com) divider line 58
    More: Interesting, obama, Americans, EUR.1  
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7820 clicks; posted to Main » on 29 Dec 2012 at 8:22 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-12-29 08:25:09 AM
Canada?
 
2012-12-29 08:25:31 AM
Correct
 
2012-12-29 08:27:07 AM
The new country isn't 'international waters'?
 
2012-12-29 08:27:30 AM
San Francisco?
 
2012-12-29 08:27:45 AM
France. The answer is France.
 
2012-12-29 08:28:27 AM
NFL Officials have their own country?
 
2012-12-29 08:29:31 AM
Do you really think Billionaires care where their money lives?
 
2012-12-29 08:32:37 AM
Writer needed about two more minutes to figure out what the rate already is and tell us. Otherwise it's all "blah blah blah 75%@$1,000,000! the guy from My Dad the Hero blah blah blah!"
 
2012-12-29 08:33:16 AM
Embattled French President Francois Hollande suffered a fresh setback Saturday when France's highest court threw out a plan to tax the ultrawealthy at a 75 percent rate, saying it was unfair.

75%? Our elite whines when then have to pay the same 35% the rest of us do.
 
2012-12-29 08:43:56 AM

vartian: Embattled French President Francois Hollande suffered a fresh setback Saturday when France's highest court threw out a plan to tax the ultrawealthy at a 75 percent rate, saying it was unfair.

75%? Our elite whines when then have to pay the same 35% the rest of us do.


that wasn't the only reason people were mad at him.  he also introduced legislation raising the retirement age to 35.
 
2012-12-29 08:44:30 AM
At least their reporters admit that taxes on the wealthy are largely symbolic (class warfare) and have no real impact on the financial crisis.

Their wealthiest person was already in the process of packing up and leaving, I wonder if that had any impact on this decision.
 
2012-12-29 08:46:35 AM

Silly Jesus: At least their reporters admit that taxes on the wealthy are largely symbolic (class warfare) and have no real impact on the financial crisis.

Their wealthiest person was already in the process of packing up and leaving, I wonder if that had any impact on this decision.


14 percent is also unfair.
 
2012-12-29 08:48:42 AM
Also,they need to surrender when a German comes near.
 
2012-12-29 08:50:42 AM
Will they have to order a Royale with Cheese when they go to the local McDonald's?
 
2012-12-29 08:51:26 AM

vartian:
75%? Our elite whines when then have to pay the same 35% the rest of us do.


Which is why this talk of raising the top marginal rates is BS and will never really hit the rich-rich. When the top marginal rate is 35% and AMT is 28% and the really rich folks are paying 17%, what is it, exactly, you think a rate increase to 40% is going to do to the rich folks?

In the case of France, this was only going to be a drop in the bucket as far as their deficit goes so it was just class warfare and not a serious economic solution. OTOH the French have a more direct way of dealing with rich people who do not show concern for the plight of the poor.
 
2012-12-29 08:53:24 AM
I didn't know the City of London, the financial crime capital of the world, was in Le France
 
2012-12-29 08:57:20 AM
In recent weeks, Gerard Depardieu - France's most famous actor - announced his intention to turn in his French passport and move to a village in a tax-friendly Belgium.

He has this really solid plan to grow flowers. It can't fail.
 
2012-12-29 08:58:47 AM

Silly Jesus: At least their reporters admit that taxes on the wealthy are largely symbolic (class warfare) and have no real impact on the financial crisis.

Their wealthiest person was already in the process of packing up and leaving, I wonder if that had any impact on this decision.


If you are talking about Bernard Arnault, Belgium refused him citizenship, and for good mesure, decided to sent his fiscal information to France. It seems that they require more than ''I don't want to pay taxes'' to grant citizenship.
 
2012-12-29 09:00:29 AM
We should bring back the 90% top rate bracket, creating a way to discourage executives from receiving 300 times the pay than their average worker.
 
2012-12-29 09:01:25 AM
Bulgaria tried to lure the French ultra-rich with "cheap alcohol, concrete beach resorts and experienced prostitutes'
 
2012-12-29 09:04:33 AM

ramblinwreck: We should bring back the 90% top rate bracket, creating a way to discourage executives from receiving 300 times the pay than their average worker.


Not sure that would have the effect you're looking for. Tax dodges aside, if I want to take home $1M and I'm taxed at 50% I pay myself $2M. If I'm taxed at 90% I just pay myself $10M at the expense of the other employees and the shareholders. And my cronies on the board of directors will do it, because I will reciprocate for them as I am on the boards of their companies.
 
2012-12-29 09:15:33 AM
'....at the expense of the other employees and the shareholders.'

our economy...it sees what you did there.
 
2012-12-29 09:17:49 AM
paris is such an amazing place. sadly you have to practically be a billionaire to live there, good god, one more day in that place and i'd have had to declare bankruptcy...
 
2012-12-29 09:21:07 AM

jeffowl: OTOH the French have a more direct way of dealing with rich people who do not show concern for the plight of the poor.


I saw that movie. It doesn't end well for the poor, or their supporters.
 
2012-12-29 09:28:29 AM

vartian: Embattled French President Francois Hollande suffered a fresh setback Saturday when France's highest court threw out a plan to tax the ultrawealthy at a 75 percent rate, saying it was unfair.

75%? Our elite whines when then have to pay the same 35% the rest of us do.

You pay 35% income tax? Those making ~390k pay 35% income tax, bravo if that's your cross to bear. I bet you're talking out of your ass though.
 
2012-12-29 09:37:07 AM

betelgeux: vartian: Embattled French President Francois Hollande suffered a fresh setback Saturday when France's highest court threw out a plan to tax the ultrawealthy at a 75 percent rate, saying it was unfair.

75%? Our elite whines when then have to pay the same 35% the rest of us do.
You pay 35% income tax? Those making ~390k pay 35% income tax, bravo if that's your cross to bear. I bet you're talking out of your ass though.


Hell, I pay an average rate of 22 and I get universal health care included.
 
2012-12-29 09:37:17 AM
static.guim.co.uk
 
2012-12-29 09:54:52 AM

ramblinwreck: We should bring back the 90% top rate bracket, creating a way to discourage executives from receiving 300 times the pay than their average worker.


4/10
 
2012-12-29 10:05:04 AM
IIRC, Romney claimed he never paid less than 14% on the average $20 million per year he made over the past decade, which is less than the rate demanded of a married-filing-jointly family making just $70,000.

I have no issue with the rates as they stand...so long as they're collected on every dime one makes anywhere on Earth.

Oh, and remove the social security cap, too.
 
2012-12-29 10:05:59 AM
They should go, I mean that 4% increase in taxes are going to send them to the poor house. I'm not sure how the millionaires and billionaires survived before 2000.
 
2012-12-29 10:07:22 AM
Very few billionaires are made from a salary. Rather it's from creating value from a product or a service and selling that product or service. It is NOT made at gunpoint like the government who has to take (re:STEAL) the money from the person to obtain it.

This culture of entitlement we have is disturbing. Remember, if the gubmint can do it to the billionaire, they can do it to YOU. Please feel free to hand over your guns...
 
2012-12-29 10:13:02 AM
Right, because France was so great before the 75% tax was proposed.

Protip: A government that tried to rob you once, will try to rob you again, and will keep trying until they succeed or get ousted. Don't give cash to Nigerian e-mail royalty, don't invest any money in the third world you aren't prepared to lose at gunpoint, and don't buy property anywhere in Western Europe.

/at least the Scandanavians are up-front about the fact that they're going to rob you
//and actually try to redistribute the wealth to the poor, instead of only dividing it among the current leaders of the socialist party
 
2012-12-29 10:18:20 AM
Although I think that everybody could stand to pay a little more, you could take all the money the rich possess and still, it wouldn't cover the money the government loves to drunkenly throw around.

We have a small tax problem. We have a LARGE spending problem.
 
2012-12-29 10:24:31 AM
And nothing of value was lost.
 
2012-12-29 10:26:13 AM
Apparently Gerard has friends in high places.
 
2012-12-29 10:55:44 AM

Silly Jesus: At least their reporters admit that taxes on the wealthy are largely symbolic (class warfare) and have no real impact on the financial crisis.

Their wealthiest person was already in the process of packing up and leaving, I wonder if that had any impact on this decision.


He's not the wealthiest. The couple who won the lottery a few weeks back are richer than Depardieu, and there's a pile of barons, dukes, and counts who have more wealth than him.
 
2012-12-29 10:57:38 AM

HAMMERTOE: We have a small tax problem. We have a LARGE spending problem.


Arguably, but if it's true it's almost purely the fault of the GOP, who a decade ago simultaneously CUT taxes and launched two UNFUNDED wars.

Spend a trillion dollars a year you don't have coming in and pretty soon it adds up to real money.
 
2012-12-29 10:58:07 AM
I think they will stick with the islands where their money is buried.
 
2012-12-29 11:03:07 AM

proteus_b: paris is such an amazing place. sadly you have to practically be a billionaire to live there, good god, one more day in that place and i'd have had to declare bankruptcy...


Okay, the buffet was a bit pricey even by Vegas standards, but c'mon, Paris isn't that bad!
 
2012-12-29 11:09:16 AM
In other news. A lot of the ones threatening to leave were never rich
 
2012-12-29 11:15:20 AM
I WISH they'd friggen move somewhere else, at least the ones employing slave labor in china, india or some other hell-hole.
 
2012-12-29 11:27:02 AM
As I told Ted Nugent, give me your address, I'll stop by and help you pack.
 
vpb [TotalFark]
2012-12-29 12:19:08 PM

Silly Jesus: At least their reporters admit that taxes on the wealthy are largely symbolic (class warfare) and have no real impact on the financial crisis.

Their wealthiest person was already in the process of packing up and leaving, I wonder if that had any impact on this decision.


Yes, they don't have "trickle down" over there, so their wealthy people are already paying more than 15%.
 
2012-12-29 12:30:39 PM

StickyBunBandit: Also,they need to surrender when a German comes near.


emilyintheglass.files.wordpress.com

C'EST RACIST!
 
2012-12-29 12:40:24 PM

nicoffeine: Writer needed about two more minutes to figure out what the rate already is and tell us. Otherwise it's all "blah blah blah 75%@$1,000,000! the guy from My Dad the Hero blah blah blah!"


Great movie.
 
2012-12-29 12:44:43 PM
Well, now we know how to talk some sense into France when it's being socialist biatch: just get Depardieu to do it. They should sic him on those out of control job-for-life-expecting unions and start making progress on their runaway unemployment.
 
2012-12-29 01:05:21 PM
French pols and officials take bribes too; I can't imagine the rich suffering hardship in any country, short of giving the finger to a Putin figure.
 
2012-12-29 01:20:11 PM
France is still a very taxing country for the rich even with the 75% tax overturned.
Depardieu moved out of the country because he just paid too much BEFORE the hike, so did a few big names in the entertainment industry. When Belgium is only a 3-hour drive away from Paris, it's easy.
 
2012-12-29 01:30:41 PM
But farkers told me over and over that the rich never leave because of retarded tax rates. WTF?
 
2012-12-29 02:15:11 PM

Cajnik: Bulgaria tried to lure the French ultra-rich with "cheap alcohol, concrete beach resorts and experienced prostitutes'


My parents recently went on a trip to Golden Sands, Bulgaria (via Varna airport). They loved it. It's a beach area where all the Germans/Russians/Polish go for some sun time. It's super cheap. They went to a dinner show and each guest had their own bottles of wine and soda. The scenery is nice. They visited a little town in the hills and have pics of a refuse collector, which is a donkey cart, because of the hilly and cobblestone roads.
 
2012-12-29 02:38:34 PM

Stone Meadow: IIRC, Romney claimed he never paid less than 14% on the average $20 million per year he made over the past decade, which is less than the rate demanded of a married-filing-jointly family making just $70,000.

I have no issue with the rates as they stand...so long as they're collected on every dime one makes anywhere on Earth.

Oh, and remove the social security cap, too.


If you believe that your an idiot. Romney paid no less then 14% total of his $20mm a married family making $70k without a single write off only pays 13.7%. Now remember that is without a single write off, the average person making 70k probably pays about 8-9% after their write offs, more then likely none if they have a kid or 2.
 
2012-12-29 02:49:48 PM

Stone Meadow: IIRC, Romney claimed he never paid less than 14% on the average $20 million per year he made over the past decade, which is less than the rate demanded of a married-filing-jointly family making just $70,000.

I have no issue with the rates as they stand...so long as they're collected on every dime one makes anywhere on Earth.

Oh, and remove the social security cap, too.


About that "anywhere on Earth" thing... The UK government rather likes US citizens working in the UK to pay their UK tax to the Her Majesty's Revenue & Customs. Unless they like UK jails.

It's ok, though. You can take it as a deduction against your US tax.

/ BTW, the US has far more eligible deductions than most European countries. You really really need to start losing some before your government goes bust.
 
2012-12-29 02:53:11 PM

offmymeds: StickyBunBandit: Also,they need to surrender when a German comes near.

[emilyintheglass.files.wordpress.com image 283x423]

C'EST RACIST!


C'EST HRRASEEEEST!
 
2012-12-29 02:55:58 PM

vartian: Embattled French President Francois Hollande suffered a fresh setback Saturday when France's highest court threw out a plan to tax the ultrawealthy at a 75 percent rate, saying it was unfair.

75%? Our elite whines when then have to pay the same 35% the rest of us do.


In reality, sometimes we'd be lucky if they actually paid 3.5%.
 
2012-12-29 04:07:20 PM
Jean Reno is more famous.
 
2012-12-29 10:08:27 PM

kombat_unit: But farkers told me over and over that the rich never leave because of retarded tax rates. WTF?


That's what the Berlin Wall was for. Keeps the kulaks and wreckers from escaping social justice.

/check which direction the weapon mounts on the US-Mexico border fence are pointed
 
2012-12-29 10:09:20 PM

KipperM: Cajnik: Bulgaria tried to lure the French ultra-rich with "cheap alcohol, concrete beach resorts and experienced prostitutes'

My parents recently went on a trip to Golden Sands, Bulgaria (via Varna airport). They loved it. It's a beach area where all the Germans/Russians/Polish go for some sun time. It's super cheap. They went to a dinner show and each guest had their own bottles of wine and soda. The scenery is nice. They visited a little town in the hills and have pics of a refuse collector, which is a donkey cart, because of the hilly and cobblestone roads.


Protip: when an previous poster mentions experienced prostitutes don't follow up with a story about your parents. My hopes perked up when I saw a donkey mentioned, but nothing came of it.
 
2012-12-30 05:15:50 AM

Mutiny32: Jean Reno is more famous.


Outside of the USA ? highly doubt that.
 
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