In news from overseas, there might be some Unintended Consequences in France

[Scout26]

Want to pick a nice Chateau in the french countryside for the little lady ?  They are being steeply discounted as the rich flee France ahead of Hollande's "Punish the Rich" (now why does that sound familiar?) tax increases.

http://homes.yahoo.com/news/is-this-your-chance-to-pick-up-a-chateau-on-the-cheap--190653964.html

Money quote:

Among the controversial proposals in the 2013 draft budget is a 75% tax rate on salaries higher than $1.3 million, up from less than 50% currently. "Wealthy French are not that masochistic," says Mr. Jottras. 

[Azrael256]

What's the word for "Laffer" in French?

[Hutch]

What's the word for "Laffer" in French?

La faire?

[slingshot]

Same thing would happen here.  The truly rich can do any thing they please.  Move, pay for a private army, just about anything they that needs doing.

[Ben]

Same thing would happen here.  The truly rich can do any thing they please.  Move, pay for a private army, just about anything they that needs doing.

I'm guessing not so much. It's easier for Europeans to jump around the EU than for US citizens to leave the US. The US is also I believe the only country that collects taxes from their citizens wherever they may live. Even if the rich give up their citizenship, the IRS collects from them before they leave the country. If severely high taxes and/or a wealth tax hit the US, those with assets will likely work on finding loopholes versus moving.