Need to Know
December 11, 2012 4:45 AM
France shocked rich are fleeing after massive tax hike
Posted by Staff
Hot Air:

I’m not really sure what it was they were expecting as an alternate outcome. Come on, ‘democratic socialists’ — you know you can float ideas for a 75 percent tax rate on top earners all you want, but don’t act like you expected people to stick around and pay ‘em.

Actor Gerard Depardieu has become the latest Frenchman to look for shelter outside his native country after a series of tax hikes by Socialist President Francois Hollande on the wealthy. …

Senesael said Depardieu would join some 2,800 French living in the same area a few minutes drive from the border, including the Mulliez family, owners of French hypermarket chain Auchan and Decathlon sports stores, who have lived there for years.

Belgian residents do not pay wealth tax, which in France is now slapped on individuals with assets over 1.3 million euros, nor do they pay capital gains tax on the sale of shares.
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