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millionaires

Will Bill de Blasio Drive the Rich From NYC?

If the rumblings coming from the Big Apple are correct, Bill de Blasio, the communist mayor, will successfully drive the rich, and their money, from the city.  Wyblog has more… Gentlemen start your moving vans, wealthy NYers perpare to flee de Blasio’s commie utopia Rich liberals don’t like it when they’re asked to pay their “fair share.” New York City Mayor Bill de Blasio’s eat-the-rich policies aren’t sitting to well with the city’s wealthy residents. According to Michael Goodman, a number of them are getting ready to flee the Big Apple for greener pastures, like Florida, where they won’t be […]

British Raise Top Tax Rates, Two Thirds of Millionaires Left

Evidence shows again and again that if you want there to be less of something. , you tax it.  Well, either there is less of it, or it goes underground, which means you don’t get to tax it at all.  The British are learning this lesson now, as after passing a unsubstantial increase in their highest tax rate, they suddenly found that they had far fewer millionaires to tax.  The Telegraph has more… In the 2009-10 tax year, more than 16,000 people declared an annual income of more than £1 million to HM Revenue and Customs. This number fell to just 6,000 after Gordon Brown introduced the […]

The Evil Rich are Still Moving: Tax Induced Exodus from Maryland Continues

It’s wisdom that when taxes go up, people will go to great lengths to avoid the tax. However, the democrat narrative precludes reality, so they raise taxes anyway.  We first covered that sad reality from Maryland in 2009… “Let’s go get those evil rich folks that are pooping on the little guy!”  The class envy folks love saying things like that.  When they get into power, as they are now, they attempt just that.  Now, I could go into a long, drawn out description of why that is a terrible idea, but they won’t listen anyway.  Instead, I’ll give an example, and […]

High Cigarette Taxes Fail to Meet Expected Revenue Targets: Anyone Surprised?

taxes

Apparently, raising taxes on tobacco products is falling out of favor with state governments… According to Patrick Gleason, director of state affairs for the conservative Americans for Tax Reform, tobacco has not been the revenue boon states that have increased cigarette taxes had hoped. “The lack of interest in raising tobacco taxes this year can be attributed to the fact that tobacco taxes have indisputably proven to be a dubious and declining source of revenue,” Gleason told TheDC. “From 2003-2007, 16 of 59 tobacco tax hikes fell short of revenue projections.” Here in Washington D.C., for example, the city’s 2009 […]

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