People are moving out of France due to ridiculous and draqconian tax rates. The following is a quote from Phil Mickelson relating to his taxes:
“PHIL MICKELSON: Yeah. I’ll probably go into it more next year or next week. But if you add up, if you add up all the federal and you look at the disability and the unemployment and the Social Security and the state, my tax rate’s 62, 63 percent. So I’ve got to make some decisions on what I’m going to do.”
So, for our the US’s most successful people, tax rates can exceed 60%. And what is their response? They look to minimize that rate, as it is absurd. How will they do it? They will move states and countries. They will restructure investments. They will give up owing to the unfairness of it all. They will move to Russia if they can get citizenship (Putin would sign the citizenship papers for well-know US citizens in a heartbeat – what a coup that would be for him). They will move to places offering residency based on investment.
Whatever it is they do, it will have a detrimental effect on the US.
Perhaps move to China. That way they can still own a part of the homeland! Lol
Good analogy, llpoh.
Funny, I was thinking the same thing (that US is the new France) earlier today. I saw Les Miserables last Saturday-pretty good movie, but it is all singing. I mean, I new it was a musical, but it was ALL singing. After 2+ hours, I was dying for a regular dialogue. But I digress. Good pic, pretty faithful to Hugo, as best as I recall from reading in Jr High, some 30+ years ago. Some pretty powerful performances-Ann Hathaway earned her Golden Globe.
But the big takeaway was the revolution/barricades scene. If you haven’t seen the pic and don’t know the story, stop reading here-I don’t want to spoil it for anyone living in an Afghanistan cave. But the Reader’s Digest version is that a handful of young revolutionaries take on the king’s order, counting on the (downtrodden) common folk to join in the fight once they got the ball rolling. And being French, of course the common folk closed their shutters and went about their business rather than join in the freedom fight.
The takeaway is, if you are French and count on your countrymen to join in your patriotic fight for freedom, you will be disappointed. 230 years or so ago, this is not what happened in the US. But I fear we have, in fact, become the French. There are a handful of patriots resisting tyranny, and they will make some noise and fight a good fight (thanks, Dr. Paul), but the masses are too comfortable with their lot, and their free shit, and their cowardice, to join in a movement for freedom which actually represents some risk. Yep, the US is the New France.
AKAnon, I think you comparison is correct. The shutters will stay closed. I do not like musicals, but I enjoyed this one. If you think the scenery/background/common folk were exaggerated, think about Europe in those days. Then look at your street and see the same folks and conditions in a few years. I think that it can happen quickly when things collapse.
@ Hollow Man China is moving here! I don’t know if you’ve seen this:
http://theeconomiccollapseblog.com/archives/does-china-plan-to-establish-chinese-cities-and-special-economic-zones-all-over-america
Is America the new France?
I don’t think we’ve seen anything, yet.
Taxes must rise, new taxes must be created, wealth from personal retirement plans must be confiscated. The sad part is just as we can look back historically at taxes, or government help, we see that we the people always vote for our own demise.
We vote for higher taxes because the government promises they will be on the other guy, we vote for new taxes on business because the government tells us they need to pay their “fair share” when in reality, we the consumer must pay for that tax, we vote for government to “do something” to help when the market dips and we suffer investment loss.
And the government will always comply with our demands.
AKAnon,
I’ve seen Les Miserables and enjoyed every minute of it! Great point you made that when the chips were down the down trodden frenchies shuttered themselves in and let the revolutionaries take the punishment!
My comparison which is unequal to the movie but nontheless should be considered is how polarized we are in this country. I’ve struggled in vain to try to get some lefties to compromise somewhere, anywhere to no avail. All I get is that its the republicans and Christians fault for all that is wrong and the lefties really dont care what replaces the power structure just so long as it isnt the right wingers. I think its compromising the security of the country and no wrong gets called if its done by a lefty liberal.
I really am starting to believe its hopeless and am getting ready to look out for mine and those close by to me. Choices are getting fewer by the day and I’m doing everything I can to exist outside the system.
I think somebody should clue Phil that his disability insurance is not a tax.