So the UK raises taxes on certain portions of insanely enormous banker bonuses, and the poor little bankers threaten to go Galt Geneva. Funny thing happened on the way…:
Geneva, touted as a haven for London bankers facing heavier U.K. taxes, may lure fewer than predicted thanks to a housing shortage, crowded schools and a 44 percent income-tax rate.
But, but, I thought taxes sapped entrepreunerial spirit, drained creativity and drove away the best and the brightest?
“Some of the German-speaking cantons around Zurich are able to offer tax rates that never exceed 20 percent, but people don’t want to move there, they prefer the lifestyle around Geneva,” said Thierry Boitelle, a partner specializing in tax at law firm Altenburger.
Yes, but have they considered sunny Somalia, with its miles and miles of beachfront property available at a bargain basement rate. And get this: Zero percent tax rates! Zero federal regulations! Zero government oversight!
At last, a chance for the giants among us to cast off the yoke of government imposed by the parasitic working class. I’ll even chip in for the airfare.
(via the Blue Meanie)