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High-profile people fleeing from tax hikes here, abroad

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    What is the lesson for U.S. government?

  • Duration 3:27
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Meanwhile.

To the flight amid attacks threatened hear about this new.

New news out of those in power.

Don't like being tax a former French president was out of power Nicholas Sarkozy and his wife said they take -- about.

Leave France to escape a huge tax I plan.

Phil Mickelson here thinking about doing the exact same thing.

-- Manny says democratic leaders here in the United States -- take now.

If they have the money they will run on dirt and reasons for both of these guys -- wanna bring back there there.

The remarks as you know arm but but they they do follow trend of folks who have means and saying the government.

And governments are going too far do they have a point.

-- I think they definitely have a point you know I mean look.

Economics is that an economics is a very dynamic social science.

There's in fact a phrase and economics which is satirist -- -- a Latin phrase that means all things being the same.

And and the Democrat.

Policy approaches.

Hey everything's the same weekend increased tax rates dramatically or France we can increase tax rates to 75% and everything else will be the same.

Except that's not how it works it's a very dynamic world.

Where incentives mean something and penalties mean something so when someone says -- We're now gonna take in in California as Mickelson said we're going to be taking sixty odd percent of your income between state federal -- -- -- France when they said.

In the -- -- 75% of your income.

People with the means to move will say.

You know what there's got to be a better a place that would be happier to have me that would not essentially just leave that place -- And flat out for a lot of Californians there's been a sort of a money flight from California for some time now.

Again and Mickelson got to put a -- would need to be in the -- and the last -- -- dial that back maybe check in with sponsors.

Who didn't share that sort of and I attacks -- you were maybe he wasn't supposed to move by the judge.

But he -- back a little bit Sarkozy has his own tax issues that there might be.

A little bit more to this story than it would appear but it does follow another -- French actor who wants to go to -- up.

And others -- -- means who indicates a Marilyn once they were gonna -- surtax on millionaires that involves more than just millionaires.

The government there didn't see the revenues -- anticipated and all but rescinded it what are we.

To glean from all of this the lessons animals.

-- blessed as a separated from those personalities because anybody -- that high of a public profile.

Asked to be very careful about what they say I live in a world of fellow entrepreneur roars and I can tell yet I hear it from those guys in California all the time now -- What are they doing to us and I'll tell yet another aspect of this deal I think is really missing.

I don't think that that entrepreneurs or successful people would be at all has attempt.

To pay more or pay their fair share.

If there was a comprehend if they believed there was a comprehensive set of solutions on the table.

If they thought okay look we've got a problem I need you to pitch in and here's how we're going get.

From all angles spending.

-- we're gonna surround this -- inefficiency reform.

We're gonna knock this thing together we're gonna get it but that's not what's being said in France it's not what's being said in California it's not -- being said in Washington.

Which is hey you guys pay us more we're not fixed anything else and I and I don't think the entrepreneurial class buys that for a moment.

-- clearly not Savard did -- thank you very very much.

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