Skip to comments.Old Money, New Money Flee France and Its Wealth Tax [Bernie Sanders doesn't understand math]
Posted on 10/19/2019 12:10:41 PM PDT by grundle
Eric Pinchet, author of a French tax guide, estimates the wealth tax earns the government about $2.6 billion a year but has cost the country more than $125 billion in capital flight since 1998.
(Excerpt) Read more at washingtonpost.com ...
Hmmmm, so it has eaned the French about 52 billion over 20 yrs but cost them 125 billion?
Bernie Sanders doesn’t understand much except one thing: MORE AND MORE GOVERNMENT. Nothing else matters to him and his Leftist friends and followers.
The French wealth tax is only levied on real property nowadays.
Bernie of course understands completely; he, like all psychopathic thugs, is just willing to lie to achieve power.
The US has the global right to tax its citizens.
US citizens can’t flee a US wealth tax.
It takes ten years to escape US taxation by giving up one’s US citizenship.
Most Governments have a stealth wealth tax. It is levied on money itself. It’s called inflation and has the added injury of pushing its victims into higher tax brackets as well.
Le Ha Ha
Bernie doesn’t care because the wealth tax is a long con. The actual goal it to raise taxes massively on everyone in exchange for so called free government services.But starting with the wealthy makes this more palatable to the envious dupes in the lower tax brackets.
I realize the article is relevant as far as taxing the rich does not achieve the goal put forth by the rulers, but the article is from 2006. What has changed since then? Have the rates gone up even further? How many more people have fled France?
For every duck Mr. Hunter bags, dozens fly off.
I am amazed at people do not want to give up money they earned for the good of the lazy and politicians of course
European taxation has high rates and lots of loopholes, I believe.
If a German inherits his father’s factory, no tax gets levied.
If a Brit inherits his father’s estate, no tax gets paid until and unless the estate gets sold.
If an American inherits his father’s factory or his father’s estate, the IRS awaits.
If a British CEO lives in a corporate mansion, HMRC looks the other way.
If an American handyman lives in an apartment complex apartment, the IRS has its hand extended.
“Its called inflation and has the added injury of pushing its victims into higher tax brackets as well.”
Tax brackets are adjusted for inflation.
Do I live in a smaller house because of property taxes?
But the government takes all the property tax it wants just the same.
Fine mansions in West Orange, NJ are fairly cheap. The owners rent from the school district.
Tax brackets are adjusted for officially calculated inflation.
“Tax brackets are adjusted for officially calculated inflation.”
Which many experts have said it over-calculates real inflation.
Idiots like Warren and Sanders just think it’s the easiest thing in the world to slap a wealth tax on the ultra-rich. Well, guess what, a-holes... it ain’t that easy. Funny thing about the ultra-rich... they can afford to move their money and themselves.
The wealthy can hire world class tax accountants to find loopholes in the always-complex tax legislation.
Taxing the wealthy is like herding cats—they will scatter in all directions.
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