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How Far Would You Run to Save $600-Million?

Recorded on May 13, 2012

From The Heritage Foundation, I'm Ernest Istook.

What if you buy a hamburger, but somebody takes a big bite before you can dig in?

That's like the big tax bites that will get even worse in January.

It's even tougher when many years of work are lumped into one big payoff, so you're hit with a truly enormous tax bill.

One founder of Facebook is saving maybe $600-million in taxes by renouncing his U.S. citizenship just before getting paid a few billion dollars. But he's only part of a growing trend. Almost two thousand Americans abandoned ship last year to avoid our high taxes. France is expecting a similar exodus because their new president says he's going to soak the rich.

So who deserves your anger the most? Rich people who leave--or government leaders who push them away by raising taxes rather than reducing spending?

From The Heritage Foundation, I'm Ernest Istook.