How Far Would You Run To Save $600-Million?

From The Heritage Foundation, I’m Ernest Istook.

What if you buy a hamburger, but somebody takes a big bite before you can dig in?

That’s like the big tax bites that will get even worse in January.

It’s even tougher when many years of work are lumped into one big payoff, so you’re hit with a truly enormous tax bill.

One founder of Facebook is saving maybe $600-million in taxes by renouncing his U.S. citizenship just before getting paid a few billion dollars. But he’s only part of a growing trend. Almost two thousand Americans abandoned ship last year to avoid our high taxes. France is expecting a similar exodus because their new president says he’s going to soak the rich.

So who deserves your anger the most? Rich people who leave–or government leaders who push them away by raising taxes rather than reducing spending?

From The Heritage Foundation, I’m Ernest Istook.


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Ernest Istook
Ernest Istook shares insights from 25 years in public office, including 14 years as a U.S. Congressman, plus raising five children. He now writes for The Washington Times, hosts a talk radio show, and his daily commentaries are heard on over 100 radio stations. To receive Ernest's free newsletter, simply subscribe at http://eepurl.com/JPojD. Ernest also delved into issues as a Distinguished Fellow at The Heritage Foundation and a Fellow at Harvard University's Institute of Politics. As a former news reporter and courtroom attorney, he enjoys gathering and sharing ideas and information in an entertaining way. Follow Ernest on Twitter @Istook and on his website, istook.com.

TRNS News Notes- 10/31

Midterm Madness: Down to the wire
Midterm Madness: Home stretch
Nurse defies Ebola quarantine: Rides bike
“Chicken$hit” still hitting the fan
Suspected cop killer survivalist captured
Chilling journal

Winfield Scott Retires, Five American Nuns Are Killed In Liberia, And Mount Rushmore Is Completed

Plus, President Johnson announces an end to the bombing campaign of North Vietnam, the Lincoln Highway is completed and Nevada becomes the 36th state.

Click here for: Friday, October 31

● Shrimp origins are questioned

● IRS adjusts taxes for inflation

● Gerber’s baby food doesn’t prevent allergies

● Charity accused of electioneering

● Coalition seeks restoration of whistleblower rights

● Divestiture ordered for media deal

LISTEN: The Day Ahead – October 31, 2014

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The Obamas celebrate Halloween, the UN dispatches its West African envoy to Burkina Faso and San Francisco celebrates its third World Series in five years.

Interview: Racial Inequality “A Major Factor” In South Carolina

Dr. Lonnie Randolph, Jr., President of the South Carolina NAACP spoke to TRNS after two former police officers pleaded guilty to excessive force by repeatedly tasering a 40-year-old black woman with mental disabilities.

Hagel Denounces Assisting Assad Regime

While immediate U.S. airstrikes in Syria have weakened the Assad regimes’ enemies, Secretary Hagel reaffirmed the Pentagon’s long term battle against the Assad regime