What do Denise Rich, the State of Maryland and France have in common? It is an outcome that is totally predictable, unless of course you are a liberal.
What is it?
Denise Rich gave up her American citizenship recently. For those of you trying to place that name, she is the ex-wife of billionaire Marc Rich. He was pardoned on the last day of the Bill Clinton administration.
While Rich has not made a public statement about it, those who have been following the matter generally accept she gave up her American citizenship to save millions in taxes. She also holds Austrian citizenship and because of her expatriate lifestyle, Austria gives her very favorable tax breaks.
Eduardo Saverin did the same thing earlier this year. He was a naturalized American and one of the co-founders of Facebook. He was looking at hundreds of millions in taxes from Facebook’s IP offering.
Due to the disastrous IP, Saverin probably did not make quite as much as he had planned on but he still made a lot and still saved a lot in taxes by giving up his American citizenship.
In 2007, in the State of Maryland, the idiot governor and the idiot legislature imposed a “millionaires’ tax.”
Did all of those wealthy people, many of them liberals stand around and gladly fork over their wealth to the State of Maryland?
No, they fled the state for lower tax states. It was a boon for lower tax states and Maryland never raised the money they thought they would through higher taxes.
In France, the new socialist president, Francois Hollande wants to raise taxes on the rich. Guess what is happening? If you are not a liberal, you will easily understand this. The rich are fleeing France.
Who the hell are the liberals going to tax when the rich take their money and go to places that will help them protect their wealth? You guessed it. They will hit the middle class.
This happens every time. Raise taxes and wealth flees. Lower taxes and you attract wealth.
Anyone with three functioning brain cells can figure out that you cannot tax rich people if they move themselves and their wealth to venues where you cannot tax them. Of course, this explains why liberals cannot figure this out.
Liberals think it is a wonderful idea to drive away the wealthy and productive citizens. These are the people who start businesses and invest in them. Instead, the left wants to open the doors to people who have no money, no skills and will consume more in government services than they will ever contribute in taxes.
Some people are outraged that Denise Rich or Eduardo Saverin would give up their American citizenship over taxes.
While I may not agree with it, I understand their reasoning.
The outrage should not be directed towards those who abandon their American citizenship because it is too expensive.
We should be outraged at a government that wastes hundreds of billions of dollars every year in fraud, duplicated services or in projects that exist only to reelect politicians.
We should be outraged at a government that cannot control its insane levels of spending and thinks that citizens only exist as tax dollar donors to the government.
We should all be outraged at a government that treats its citizens like serfs and not like citizens who are the masters of those who serve in government
We should all be outraged and we should be all demanding change.
Judson, Whadda you mean you may not agree with people who renounce their citizenship and exit the country to avoid taxes??!!! A few weeks back you posted a commentary insisting, if the Messiah occupies the Oval Office 4 more years, you plan to join them.
If you renounce your citizenship, if you don't pay your taxes - you are a turncoat and a traitor.