On his website, Neal Boortz commented on an uptick in expatriations because of punitive taxes and an overly aggressive IRS.....
From Neal Boortz -- "If the voters of this country allow these Democrats to remain in power with control of the House, filibuster-proof control of the Senate and The Community Organizer in the White House, it will be totally appropriate for productive, self-reliant Americans to start looking for greener pastures across one pond or the other. This country simply cannot survive those currently in control for four years."
Over 500 people renounced their American citizenship in Q4 of 2009. That's more than in all of 2007 and twice that of 2008. A government can punish productive Americans only so much before they either stop being productive or give up and go where their wealth and job creation are appreciated.
I predict a mass exodus from the US, of entrepreneurial talent, innovators, and capital if a hideous VAT is passed, the IRS becomes even more aggressive with the wealthy, and a stupid carbon tax is imposed. What will the point of being productive have become if the government takes most of what you earn away from you to hand over to those in political favor? I love the US but if I were a business owner, I would consider expatriation as a serious option.
4 comments:
I'm curious, Ed - where will they flee?
There was something about "summer soldiers" and "sunshine patriots" written long ago.....
Not sure capt. I've wondered that myself in a conversation I had with another reader just this morning. There are a few countries who've instituted the flat tax, Ireland and I believe Estonia. That's the problem, America is the world's last great hope and we are failing miserably. If the US goes the way of old Europe, all is lost.
Apparently Iceland, of all places, has a similar problem.
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