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 Day Ahead – October 23, 2014

The Day Ahead Logo

Oral arguments begin in a suit against the UN for introducing cholera to Haiti in 2010, a slew of human rights reports and new unemployment data from Spain.

LISTEN: The World in 2:00 – October 22, 2014

The World in 2:00 continents logo

South Sudan’s U.N. ambassador says his country is experiencing a breakdown of social values, and Sweden continues to search for a mysterious underwater vessel.

Obama Phones Canadian Leader Over Deadly Shooting

In a statement released by the White House, President Obama and Prime Minister Stephen Harper will continue to stay in touch as the situation unfolds

WHO: Ebola Health Care Workers Still Seeking Guidance On Use Of Personal Protective Equipment

Plus, The Latest Numbers On The Ebola Virus

State Dept. Won’t Rule Out More Kobani Supply Drops

Norwegian fighter jet assists 2011 Libyan no-fly zone

“This is a small amount of risk,” Deputy State Department Spokesperson Harf said.

Norton: Doubts Raised Over DC Marijuana Legalization Vote

“I’m not sure everyone is prepared for it,” D.C. Congresswoman Eleanor Holmes Norton told TRNS.