At What Tax Rate Would You Stop Working Or Move Out?

Common Sense Commentary:  At what tax rate would you just give up and stop working extra to make any more money? 33%...44%...55%....95% ???Everyone who has a real concern for this country needs to understand this.
Watch the educational/informational video at the link below. We must keep an open mind to reality regardless of our political beliefs. What is the truth?


__________Researched by RB__________

The London Telegraph

Two-thirds of millionaires left

Britain to avoid 50p tax rate

Almost two-thirds of the country’s million-pound earners disappeared from Britain after the introduction of the 50p top rate of tax, figures have disclosed.
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 new 50p top rate of income tax shortly before the last general election.
The figures have been seized upon by the Conservatives to claim that increasing the highest rate of tax actually led to a loss in revenues for the Government.

 

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300,000 French Expected to Leave France

Reuters reports that 300,000 French millionaires will immediately begin to leave France in response to taxes being increased to seventy five percent of income in order to help close the budget deficit. The mass migration of millionaires is expected to begin as soon as countries outside of France agree to accept the political risk of increasing their own wealth inequality.

 

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Yahoo News

Millionaires Leaving the U.S.

 

Yahoo! Contributor Network

 

In 2007 alone over 800,000 millionaires disappeared from the Untied States. This is an alarming number but most people have made the mistake of thinking it was the internet .com bubble bursting along with the real estate mortgage securities fiasco that explains what happened; however, they are wrong. While the bubbles bursting may have had a partial effect, it is not the whole story. The part of the story that is not being reported is that the number of millionaires overseas has increased by over 3.8 million in the same year! What that means to you and me is that it is not the millionaires that are disappearing but in fact it is the wealth of America that is disappearing. It is not so much that millionaires are disappearing but more close to the truth is that they are leaving.

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The Wall Street Journal

Governor Jerry Brown insisted in his State of the State speech last week that California is "still the land of dreams." He's certainly right if he's referring to his latest fantasy that raising taxes on the upper middle-class will generate an additional $5 billion annually over the next five years, eliminate the state's chronic budget deficits and pay down a large portion of its debt. Fortunately, the state's Legislative Analyst's Office, of all unlikely Sacramento institutions, has checked in from realityville.

In a new report, the office warns that the initiative that Mr. Brown wants to put on the November ballot to raise taxes on top earners might not generate as much revenue as he projects because their income is extremely volatile.

The top 1% of earners already pay about 40% of the state's income taxes, a large chunk of which is on capital gains that are taxed at the same rate as wages. In the past, changes in the economy and stock prices have caused huge fluctuations in capital gains income and tax revenue.

 

Many wealthy Californians are moving to other states or out of the U.S.

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This list goes one and on and here is the reason why.... Click on link below.


http://www.youtube.com/watch?feature=player_embedded&v=ayad5mbSSrU#!