Quote:
Originally Posted by Flames Fan, Ph.D.
Just out of curiosity, do we know of any examples of this? Many people repeat this claim, but I don't know of many examples wherein a wealthy / ultra-rich businessperson (or what have you) moved to another country because of the tax rates*. I'm trying hard to name one example, but I'm having trouble coming up with any.
I know I would never move to, say, Hong Kong just because taxes were low. Would you? No offense to Hong Kong (or wherever), but it's just not my country or home. Do we think a few rich businessmen from Nice are going to move to Miami? I really, really doubt it.
* I'm excluding cases wherein people effectively move into lower tax rate countries as an ancillary effect of escaping a repressive country. I think we can agree that escaping a totalitarian state is the primary driver for such people, not their tax rates.
Edit:
A corollary of this scenario may have already provided our answer: Did the wealthy and ultra-rich migrate back into the USA in the early 80s?
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I suppose the most famous examples would be the Beatles and Stones who all moved out of the UK in the mid sixties, ironically to France, to escape the UK's crushing wealth tax.
In the case of todays EU it would be even easier.