As Obama tries to Go French with a strong “tax the rich” policy, I can see pressure building on the U.S. Rich.
In France, the actor Gerard Depardieu packed up and moved to Belgium. Taking his revenues and tax payments with him. (He was only one of many that moved over the border making a bit of a property boom in estates). Along the way he made a “quip” that Putin had already sent him a passport (while talking about all the countries who wanted him and his money…)
Well, Putin has a sense of theatre, I’ll give him that. Hearing about the joke, he had a Russian citizenship granted.
Putin’s proposition stems from a quip the actor made to a French newspaper two weeks ago about citizenship offers from other countries. “Putin has already sent me a passport,” he joked to Le Monde.
The Russian president pounced on the wisecrack the very next day, saying that if Depardieu wants in, then he’s in, Russian news agency RIA Novosti reported.
Putin had Thursday’s decree posted to his website:
“In accordance with clause ‘a’ of article 89 of the Russian Constitution, the application for Russian citizenship by Gerard Xavier Depardieu born in France in 1948 has been granted.”
France’s socialist administration wants to raise taxes on citizens earning more than 1 million euros ($1.3 million) annually to 75%. The Russian federation has a flat income tax rate of 13%, Putin has said.
Flat tax of 13%? Hey, that’s not a bad deal at all….
So I guess the question is this: How much money can Russia make by starting to build mansions on the Black Sea and issuing a citizenship to rich folks who buy one? Writers, actors, inventors, investors, all sorts of rich folks can live anywhere while still doing their jobs. I figure they could rake in on the order of many $Billions. Make a special extended city with all signs and official business done tr-lingual in Russian, French, and English. (Most rich folks in the world speak one of those three, or can figure one out.) Put in a shopping mall with all the best stores. Price things in all three of Euro, $US, and Rubles (just to make it comfortable for folks) Have a fine dining section with a variety of ethnic restaurants.
Heck, it would likely become a big tourist destination just based on that.
It is also interesting to see what happened to their economy under that ‘flat tax’:
So maybe it’s time to start watching Russian economics and growth…
I find it very odd to see Russia being more Libertarian (at least in tax policies) than the USA…