“We’re getting a lot of calls from high earners who are asking whether they should get out of France,” said Mr. Grandil... “Even young, dynamic people pulling in 200,000 euros are wondering whether to remain in a country where making money is not considered a good thing.” French president François Hollande's plan to tax income above a million euros ($1.24 million) a year at 75% is alarming some.
This is why I don't give you a job. Hungarian blogger Jakab Andor breaks down the numbers and explains why taxes and regulations make it highly unappealing for him to start a small business employing people in Hungary. He also argues that these same factors make women and older people particularly unappealing prospects. His comments generated quite a bit of controversy (warning: most comments in Hungarian), to which he responded with an offer.
A new U.S. Treasury Report (press release) reports that tax returns from 1996 to 2005 show that income mobility in the U.S. is "considerable," with rising earnings, and top earners who often stumble. The WSJ crows. Pew releases its own research (reports, press release) on income inequality today with a multi-decade outlook, but summarizes the findings as that American families' income mobility is still highly dependent on their parents' position. Forbes and a The New Republic blog try to reconcile the reports. Meanwhile, blacks appear to be downwardly mobile.