Thursday, January 10, 2013

Tax Policy and Behavior

We've all heard it a bunch of times.  "Rich" people don't care about taxes, they're happy to pay them.  Well, not surprisingly, that notion is complete bullshit.  Consider these two articles, one of which shows the hypocrisy of an Obama supporter.

From the Wall Street Journal:
"Review & Outlook: Costco's Dividend Tax Epiphany"

"To sum up: Here we have people at the very top of the top 1% who preach about tax fairness voting to write themselves a huge dividend check to avoid the Obama tax increase they claim it is a public service to impose on middle-class Americans who work for 30 years and finally make $250,000 for a brief window in time."

From the Telegraph:
"Two-thirds of millionaires left Britain to avoid 50p tax rate:

Oops, looks like this link has gone stale.  The title tells the story, though.