{"id":12825,"date":"2012-10-16T05:45:30","date_gmt":"2012-10-16T09:45:30","guid":{"rendered":"http:\/\/www.geneveith.com\/?p=12825"},"modified":"2012-10-16T05:45:30","modified_gmt":"2012-10-16T09:45:30","slug":"not-letting-the-rich-escape","status":"publish","type":"post","link":"https:\/\/www.patheos.com\/blogs\/geneveith\/2012\/10\/not-letting-the-rich-escape\/","title":{"rendered":"Those lazy, shiftless, non-productive rich people"},"content":{"rendered":"\n<\/head>

When countries (and, as we have seen, states) raise taxes on \u201cthe rich,\u201d the rich have been escaping to jurisdictions with lower taxes.\u00a0 Thus, ever since Maryland has increased taxes on its wealthiest citizens, those citizens have been moving to lower-tax Virginia.\u00a0 The co-founder of Facebook has renounced his American citizenship and is now a citizen of Singapore.\u00a0 This is happening in other countries as well.<\/p>\n

So our Secretary of State Hillary Clinton is calling on all<\/em> countries to raise taxes on the rich so as to give them no place to hide.\u00a0 From The Motley Fool<\/em>\u2018s Rich Smith:<\/p>\n

A rich guy can always decide to \u201cpull a Facebook\u201d \u2014 follow in the footsteps of Facebook (FB) co-founder Eduardo Saverin, renounce U.S. citizenship, and fly away to someplace with a more lenient tax code. (It\u2019s not just U.S. citizens going this route, either. Last month, Bernard Arnault, France\u2019s richest man and the CEO of luxury-goods maker LVMH, responded to French plans to hike taxes on the rich by emigrating and seeking Belgian citizenship.)<\/p>\n

\nEnter Secretary Clinton, with a novel solution to the problem: Tax everyone, everywhere, and especially the rich.\n

Clinton first floated her proposal at the Clinton Global Initiative conclave in New York last month: \u201cIt is a fact that the elites in every country are making money. There are rich people everywhere, and yet they do not contribute to the growth of their own countries.\u201d<\/p>\n

So far, mainstream commentary on the speech has painted it as a simple expression of the American-centric worldview: We think raising taxes on our richest 1% is a pretty keen idea, and you other countries should, too.<\/p>\n

But there may be something more subtle afoot. The real purpose behind Clinton\u2019s salvo could be to send a shot across the bow of would-be Saverin and Arnault imitators: If you think you can avoid higher taxes by simply switching citizenship, think again.<\/p>\n

via Hillary Clinton Wants to Tax the Rich \u2014 Here, There and Everywhere \u2013 DailyFinance<\/a>.<\/p>\n

I don\u2019t understand this part:\u00a0 \u201cThere are rich people everywhere, and yet they do not contribute to the growth of their own countries.\u201d\u00a0 Really, Hillary?\u00a0 Rich people do not contribute to the growth of their countries?\u00a0 You think the only way countries can grow is for the government to rake in more taxes?\u00a0 You don\u2019t think economic growth has anything to do with people having money?\u00a0 But if you do believe the rich are such shiftless, lazy freeloaders why should any country want them to stay around?\u00a0 (Notice how some liberals look at the rich the same way some conservatives look at the poor!)<\/p><\/div>\n<\/blockquote><\/body><\/html>\n","protected":false},"excerpt":{"rendered":"

When countries (and, as we have seen, states) raise taxes on \u201cthe rich,\u201d the rich have been escaping to jurisdictions with lower taxes.\u00a0 Thus, ever since Maryland has increased taxes on its wealthiest citizens, those citizens have been moving to lower-tax Virginia.\u00a0 The co-founder of Facebook has renounced his American citizenship and is now a […]<\/p>\n","protected":false},"author":1281,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,19],"tags":[1019,2155],"class_list":["post-12825","post","type-post","status-publish","format-standard","hentry","category-economics","category-government","tag-hillary-clinton","tag-taxes"],"yoast_head":"\nThose lazy, shiftless, non-productive rich people<\/title>\n<meta name=\"description\" content=\"When countries (and, as we have seen, states) raise taxes on "the rich," the rich have been escaping to jurisdictions with lower 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