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Taxing the Rich: Americans Have It Good, Compared to the French
Rick Aristotle Munarriz, Daily Finance
Atlas Shrugged |
Iconic French actor Gerard Depardieu has become the latest to surrender his French passport and social security benefits, choosing to move to a bordering town in Belgium that’s attracting many of France’s wealthiest expatriates. It seems like something drawn from the pages of an Ayn Rand novel. There’s an exodus by some -- though clearly not all -- of the country’s most financially productive citizens. Revenue-hungry France thought that taxing the rich would be an easy fix to its problems. Instead, it may go from collecting 48 percent of earnings from some of them to zero percent.
Published: 2012-12-25
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