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In reply to the discussion: "The rich" are fleeing Britain and France following high tax hikes. [View all]ieoeja
(9,748 posts)32. So what? They still have to pay French tax on French income.
I suppose they could stop investing in French companies as well. But, again, so what? Pretty certain 99% of stock trades are between holders of previously issued stock. Which means none of that money is invested in the company anyway.
A company only receives money to invest when they sell the stock, not when you buy it from someone else.
If the ex-pats sell all their shares in French companies, those companies don't lose a dime. And France taxes the new owner of the stock exactly what they would have taxed the ex-pats.
If the ex-pats keep their shares in French companies, then they still have to pay the French dividend tax.
All this would seem to be proving is that a lot of rich people are really stupid. They are pretty much demonstrating the point that they really don't deserve all their money.
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"The rich" are fleeing Britain and France following high tax hikes. [View all]
dixiegrrrrl
Dec 2012
OP
Furthermore, if you leave, you're not allowed to do business in or with the country anymore.
backscatter712
Dec 2012
#14
True. The US does not have the same constraints that France or any other EU country would have.
pampango
Dec 2012
#77
They used retroactive laws for the FISA bill. But then, that benefited the wealthy
sabrina 1
Dec 2012
#19
I have Long Considered This, Sir, the Most Appropriate Possible Use For Our Country's Military
The Magistrate
Dec 2012
#6
When You Demonstrate Some Knowledge Of How Tax Shelters Actually Work, Sir, We Might Talk
The Magistrate
Dec 2012
#79
Whatever! Then they were not really French or British; they merely liked the scenery.
WinkyDink
Dec 2012
#9
If your last contention is true, then why would they be leaving because of higher taxes? I'm really
Cleita
Dec 2012
#48
Forget them. I really want to get rid of the bankers and insurance companies and nationalize them.
Cleita
Dec 2012
#69
IMO, those rich who are fleeing Britain and France were making no monetary contribution to their
ladjf
Dec 2012
#16
I'd be willing to stop spending trillions of dollars bailing them out after they
sabrina 1
Dec 2012
#29
First, there's no "75% tax rate". It's a temporary add-on for income over $1 million. Income below
HiPointDem
Dec 2012
#25
depp wasn't paying french taxes in the first place & recently split with his french girlfriend. he
HiPointDem
Dec 2012
#89
didn't mean to blame you -- the press always reports like that, like people are being taxed 75%
HiPointDem
Dec 2012
#88
Thread title: ""The rich" are fleeing Britain and France following high tax hikes."
closeupready
Dec 2012
#52
Of course in Rowling's case, vast income and 'working' are no longer tied.
Bluenorthwest
Dec 2012
#58
Taxation doesn't differentiate between those actively working and those already wealthy
mainer
Dec 2012
#72
"Thankfully, few are seeking exile to exempt themselves from being in solidarity with fellow French
adirondacker
Dec 2012
#85
It mis time for the industrialized countries to impose sanctions on tax avoidance nations.
kelliekat44
Dec 2012
#81