Tuesday, April 28, 2009

What's it all about, Alfie?

When Michael Caine is considering leaving Britain because of the prospect of its increasing its tax rate on the highest incomes, we know the end of civilization is near. Except, as you'll note from the body of the article, he's done it before, as have many of Britain's leading actors in the past.

Question: What do Americans who earn those obscenely high incomes do to avoid income tax? Could it be?--yes, it could--that the US tax rate for the wealthy is relatively low? Could it be?--yes, it could--that our tax system has built-in devices for avoiding or deferring tax that aren't available in other systems? Could it be?--yes, it could--that even as we struggle with enormous government deficits, we are a tax haven?

Here's the Telegraph article that's referred to in the above blog.

No comments: