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Thursday, August 27, 2009

When Will America's Mass Exodus Come?

Another window into our future if Congress and the Senate vote to continue raising the already ridiculously high taxes on the rich.

Read excerpts from this Bloomberg article and tell me if they don't sound very, very similar to what Obama and the Democratic leadership are trying to do here, in America.

The number of U.S. citizens in Britain fell 3.8 percent to 126,000 in the 12 months through September, according to the Office for National Statistics. The trend probably continued this year, with the Confederation of British Industry estimating the U.K. financial industry will lose about 45,000 jobs in the first nine months of 2009, or 4.3 percent of the total.

Americans are heading home as Britain plans a 50 percent tax rate for those who earn more than 150,000 pounds ($248,000) a year and employers cut benefits for workers living abroad, reducing the allure of London. That comes a year after the U.K. said foreigners who have lived in the country for more than seven years must pay 30,000 pounds annually or give up the special status that shields overseas income from British taxes.

Fed Up.

The worst recession since World War II has left U.K. residents facing tax increases and spending cuts after Britain’s monthly budget deficit ballooned to a record 8 billion pounds in July. In addition, some employers are reducing benefits such as tax equalization, school tuition for children and cost-of-living allowances that supplement expatriate salaries.

Schools catering to international students report a drop in enrollment for the first time in seven years, and relocation companies say they are moving fewer people to Britain.

Janet Sherbow lives in London’s Chelsea district with her husband, Nikos Mourkogiannis, the former chief executive officer at the European arm of Cambridge, Massachusetts-based management consulting firm Monitor Co. The family plans to move to Greece after their daughter finishes high school next year.

“We are fed up with all the stealth taxes, the non-doms levy, and now the 50 percent tax rate,” Sherbow said. “Six American families have moved from my street in the last six months.”

Job losses, raising taxes on the rich and rising deficit.

Lets see here.

CBO just projected unemployment will rise to a 10.2 percent average by 2010.


The latest adjusted projections on our deficit raise it to $9 trillion.


Democrats propose and have been pushing the idea of raising taxes on the rich to fund their spending, and Obamacare.


When the people that employ the masses, produce our goods, provide health insurance and pay 90 percent of all federal income tax as it stands now, get sick and tired of the government stealing their money, via higher taxes, to support the rest of the country, where will they go to be appreciated for being productive instead of punished for it?

Cato@Liberty asks a question:

Brown is killing the free-market goose that laid the golden eggs of Britain’s success. I really don’t understand the vision of such politicians — don’t they know what they are doing? I want people to be successful. I want entrepreneurs to create wealth. I love growing, vibrant cities. Why do some people want to destroy all that?

A simple answer... they want what other people have sweated and worked hard to earn without having to work for it themselves.

The why is easy, they are jealous of other people's success and abilities to create wealth when they cannot.