29 Democratic members of Congress from California today urged California to make its film tax credit more generous. A bill to do so, AB 1839, has passed the state Assembly and is pending in the Senate.
Actor Gerard Depardieu has become the latest Frenchman to look for shelter outside his native country after a series of tax hikes by Socialist President Francois Hollande on the wealthy.
The "Cyrano de Bergerac" star has bought a house in the Belgian village of Nechin near the French border, local mayor Daniel Senesael told French media on Sunday, adding he had also enquired about procedures for acquiring Belgian residency.
Perhaps this is no great loss for France, particularly because Depardieu has been caught in a few public scandals lately about his erratic behavior. Maybe some French officials will say good riddance or denounce him for being insufficiently patriotic. But this is more evidence that punitively high tax rates can change behavior. Not everyone in France is rushing for the exits but a high enough tax rate causes some to do so. (It's a truism that if the income tax were 100%, no one would be left to pay it since nearly everyone would shelter their income or stop working. Tipping points can occur before 100%.)
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This morning, we released a new chart book that illustrates why tax reform should be on the minds of Iowan policymakers and taxpayers during the upcoming gubernatorial election in November. Iowa Illustrated: A...