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.


Tags: ,

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.

LISTEN: The World in Two Minutes – August 21, 2014

WorldIn2Logo

It’s been one year since the largest chemical weapons attack in Syria, and a Brazilian environmentalist surges in popularity ahead of October elections.

Nixon Orders Withdrawal Of National Guard From Ferguson

FergusonMore

With the withdrawal of the National Guard, the State Highway Patrol will assume control of the situation in Ferguson from a security perspective.

State Dept. Bans Diplomats From ‘Ice Bucket Challenge’

State Department

The State Department went on to say that it wishes the ALS Association the best of luck as it continues its efforts to combat the disease.

Obama Sued Over Refusal To Let Gov Be Transparent

You were never supposed to find out about this secret White House memo.

Perry Calls For “Overwhelming Force” In Iraq

Perry called for “nothing less than a sustained air campaign.”

Romney And Ryan To Share Stage Again

Both Romney and Ryan have been floated as potential 2016 candidates.