Mobile millionaires

If you read these columns regularly, you understand that wealthy people typically didn’t get that way by being so dimwitted they can’t imagine how to protect their wealth when someone tries taking it away.

But like many things we all “know,” it can be hard to cite examples under pressure. So as a public service, we present several of those priceless examples, for deployment next time some Liberal ninny says we can solve all our problems with higher tax rates that squeeze the “top two percent” a little harder.

The British government has found to its chagrin that wealthy people are able to move or shift income just as two-thirds of the country’s millionaires have done, to escape confiscatory taxation. It’s not as if British millionaires are the only ones figuring this out. People are fleeing California, as NBC TV’s Los Angeles affiliate reported this month.

That story only scratches the surface. This fall, the Manhattan Institute noted that taxes, both existing and anticipated, have played a role in 3.4 million people leaving California since 1990. That’s like the entire population of Connecticut packing up and leaving; it’s more than the populations of 21 states.

Another place in some ways very much like California—that is to say, France—is finding it hard to get rich people to stand still for the fleecing.

Most delicious of all is this report of Google revenues being shifted to escape high taxes. Google has proven that even people who helped bankroll the Obama re-election don’t behave like idiots all the time. The question is, does anybody in the administration read this stuff?


About Wisconsin Club for Growth
The Club for Growth is a national network of over 40,000 men and women, from all walks of life, who believe that prosperity and opportunity come through economic freedom. Wisconsin Club for Growth, Inc. is dedicated to informing, educating and rallying citizens of Wisconsin to embrace and enact policies that lead to sustained economic growth, limited government, and minimal taxation. Wisconsin Club for Growth can and will have an enormous impact on the direction of our state. Wisconsin Club for Growth believes that effective lobbying is done at all stages of the budget cycle, including when our leaders make public promises and can be encouraged to support policies that spur economic growth. Wisconsin Club for Growth believes we must support pro-growth policies and encourage public officials with backbones to remain truly committed to making our economy and our state stronger. Wisconsin Club for Growth believes our leaders must stand up to the tax and spend mentality in Madison and work tirelessly to cut taxes and unleash the power of the free-market.

Comments are closed.

%d bloggers like this: