The best laid plan of Socialist French President Francois Hollande (pronounced O-Lend) to tap millionaires with a 75 percent tax appears to be falling asunder.
Popular French actor Gérard Depardieu recently moved to Belgium, nearly within spitting distance of France, to escape France’s new 75 per cent top marginal income tax rate imposed on millionaires, as noted here in Connecticut Commentary.
M. Depardieu took the additional precaution of acquiring Russian citizenship, but this was intended, some suppose, to spite the lesser socialistic pretentions of M. Hollande.
Now, former French President Nicolas Sarkozy appears to be following in M. Depardieu’s footsteps. According to a piece in the UK’s Daily Mail on Line, M. Sarkozy is hightailing it to London along with his lovely wife Carla Bruni.
M. Sarkozy, said to be looking for a posh place in the city where he can strut his status, will not be the lone French expat-millionaire in England; Bernard Arnault, the luxury goods magnate and France’s richest man, also owns property in London.
While in London, M Sarkozy plans to set up a billion pounds plus investment fund.
It occurs to Connecticut Commentary that Governor Dannel Malloy has at long last – after expending much energy transferring tax dollars from middle class workers to giant multi-billion dollars companies in an attempt to bride them not to move out of Connecticut --has fallen asleep at the wheel, perhaps a good thing.
M. Malloy should get himself to France tout suite, with a view to coaxing future expat-millionaires to move to Greenwich or other safe zones in Connecticut’s Gold Coast.
Just think of the taxes the state could reap from M. Depardieu and M. Sarkosy, not to mention M. Arnault. And remember, that old millionaire trap, M. Christie, is over in New Jersey breathing heavily and, like M. Malloy, looking for every available means of discharging a deficit without further burdening the proletariat with onerous taxes for fear they might move to Texas.
No need any longer to worry about proletarian outmigration to Connecticut.