Friday, January 19, 2007

French Taxes Encourage Expatriation

It seems that France's high taxes (which are intended to support its extensive social welfare program) is contributing to the erosion of the tax base by creating an economic incentive (i.e., encouraging) for wealthier people to leave the country and live abroad.

The problem with stealing from those who have to give to those who do not (particularly those who do not have as a result of their own choices) is that, sooner or later, either those who have will have no more to be stolen from them, or they will find ways of protecting it - whether it be by lobbying for legislation, putting assets in tax-sheltered financial instruments, or just plan getting up and leaving.


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