Higher taxes = more revenue...

[ssd]

err, maybe not
http://www.zerohedge.com/news/socia...frances-richest-man-seeks-belgian-citizenship

 

[Duff Miver]

The Laffer Curve that Reagan got a boner over was, and remains, a bogus neocon scam.

 

[ssd]

There are trillions in un-patrioted capital sitting in the bank accts of US corporations overseas. They will not bring it home because of the tax burden on it.

The wealthy are leaving France because of a proposed 75% tax on the wealthy.

People will avoid over-taxation and it will result in a net loss of tax revenue.

Those with assets are fleeing for less fantastic and dangerous climes. The handful of French millionaires who are supposed to magically bail out a failed-state that absorbs 55% of GDP are busy transferring their assets out of France, a mass exodus of capital that is also playing out in China, where those who embraced the slogan "to get rich is glorious" are transferring their wealth, ill-gotten or well-earned, overseas.

So vast is this outflow of wealth that for the first time the outflow of capital from China exceeds the inflow of investment capital. The smart money is exiting, and the last batch of credulous "China story" rubes are dumping their capital down a rathole.

Link to another article:

http://www.zerohedge.com/contributed/2012-07-15/soak-wealth-not-income