Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
In reply to the discussion: "The rich" are fleeing Britain and France following high tax hikes. [View all]Cleita
(75,480 posts)10. So what. It opens a niche for the not rich to become rich.
The thing to do is don't allow them to leave and take their money with them. Sure, there is nothing you can do about Swiss or Cayman Islands accounts, but don't let them leave the country with the assets they have in the country and allow them only a limited amount of income from those assets to leave the country, hence they will still have to pay taxes. I believe we used to do that here. If you were living or working in a foreign country, you were only allowed to take out a certain amount of dollars a year. The purpose was to keep the money in circulation in this country.
Edit history
Please sign in to view edit histories.
92 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
"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