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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 17
    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 10:18:20 AM
2 votes:
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 08:27:45 AM
2 votes:
France. The answer is France.
2012-12-29 10:24:31 AM
1 votes:
And nothing of value was lost.
2012-12-29 10:13:02 AM
1 votes:
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 10:07:22 AM
1 votes:
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 10:05:59 AM
1 votes:
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 10:05:04 AM
1 votes:
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 09:28:29 AM
1 votes:

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 09:17:49 AM
1 votes:
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 09:15:33 AM
1 votes:
'....at the expense of the other employees and the shareholders.'

our economy...it sees what you did there.
2012-12-29 09:04:33 AM
1 votes:

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 09:00:29 AM
1 votes:
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 08:58:47 AM
1 votes:

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 08:51:26 AM
1 votes:

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 08:44:30 AM
1 votes:
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 08:33:16 AM
1 votes:
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 08:29:31 AM
1 votes:
Do you really think Billionaires care where their money lives?
 
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