Saturday, July 17, 2010

American Tax Refugees?

I am expecting more American tax refugees after bo axes the Bush tax cuts. Hopefully more Canadian doctors will return home with obamacare. So I guess bo could be good for Canada after all. He's certainly not good for the US>

The Financial Times reports that the number of Americans giving up their citizenship to protect their families from America’s onerous worldwide tax system has jumped rapidly. Even relatively high-tax nations such as the United Kingdom are attractive compared to the class-warfare system that Obama is creating in the United States. I run into people like this quite often as part of my travels. They are intensely patriotic to America as a nation, but they have lots of scorn for the federal government. Statists are perfectly willing to forgive terrorists like William Ayres, but they heap scorn on these “Benedict Arnold” taxpayers. But the tax exiles get the last laugh since the bureaucrats and politicians now get zero percent of their foreign-source income. You would think that, sooner or later, the left would realize they can get more tax revenue with reasonable tax rates. But that assumes that collectivists are motivated by revenue maximization rather than spite and envy.

1 comment:

Anonymous said...

Maybe so but I don't expect an influx of doctors to Ontario since McGuinty has jacked up every tax he can get his hands on. (real conservative)

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