Taxes Drive Away The Wealthy

Bernard_arnault

In what's sure to only be a temporary measure, France's richest person has decided to keep his French nationality and pay French taxes after having applied for a Belgian nationality.  Bernard Arnault, CEO of LVMH, has suggested that his move has nothing to do with the new 75% tax on income above €1M, but several other rich French have already left the country, and one would suspect that after giving the initial story time to die down that Mr. Arnault will likely drop his French citizenship.  Then again, he could just be the world's most altruistic man and decide to support Socialist France with his hard-earned money.  (Picture from Forbes.com.)

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