Since the arrival of Socialist President François Hollande in 2012, income tax and social security contributions in France have skyrocketed. The top tax rate is 75 percent, and a great many pay in excess of 70 percent.For those that remain, things are turning desperate: "Angry French union workers take two bosses hostage" at a Goodyear plant.
As a result, there has been a frantic bolt for the border by the very people who create economic growth - business leaders, innovators, creative thinkers, and top executives. They are all leaving France to develop their talents elsewhere.
In completely unrelated news, people are leaving California for some reason.
2 comments:
The migration data in this chart shows that when it comes to states "losing" or "poaching" other states' citizens, the central trend is no trend:
http://vizynary.com/2013/11/18/restless-america-state-to-state-migration-in-2012/
California's population rose by more than 310,000 in 2012, with the top factor being international immigration. More than 465,000 citizens moved to California in 2012 from lower-taxed states.
Migration between states is now at an post-WW2 low, with a nearly 50% drop since 1948. The rate has been flat since 2006.
http://www.census.gov/newsroom/releases/pdf/2011-11-15_migration_slides.pdf
For decades, California has always been in the top four states for domestic immigration, and also always been in the top four for domestic outmigration. The other three are Texas, New York and Florida. Unshockingly, they’re also the four states with the largest populations.
California lost fewer citizens to net migration in 2012 than in any year since 2003.
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