THE MYTH OF TAX FLIGHT "The rich are always trying to find ways to make the middle class make their arguments [against taxes] for them.” The media chasing after celebrities, and conservatives like the shameless Harvard economist and Romney adviser Gregory Mankiw, constantly play up the idea of tax flight. You can always find anecdotes, but a number of studies have concluded that the idea of millionaires fleeing high taxes in droves is largely a myth. Furthermore, even if the owner flees, the tax authorities can always withhold taxes from local sources of income and levy against assets locally domiciled if they have the will to do so.
Posted on: Sat, 22 Jun 2013 19:23:23 +0000
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