The Myth Of Millionaire Tax Flight

An investigation based on top earners’ IRS returns and other data: “A tour-de-force that should be read by policymakers and taxpayers everywhere.” —Douglas S. Massey, Princeton University In this age of globalization, many countries and U.S. states are worried about the tax flight of the rich. As income inequality grows and U.S. states consider raising taxes on their wealthiest residents, there is a palpable concern that these high rollers will board their private jets and fly away, taking their wealth with them. Many assume that the importance of location to a person’s success is at an all-time low. Cristobal Young, however, makes the argument that location is very important to the world’s richest people. Frequently, he says, place has a great deal to do with how they make their millions. In The Myth of Millionaire Tax Flight, Young examines a trove of data on millionaires and billionaires—confidential tax returns, Forbes lists, and census records—and distills down surprising insights. While economic elites have the resources and capacity to flee high-tax places, their actual migration is surprisingly limited. For the rich, ongoing economic potential is tied to the place where they become successful—often where they are powerful insiders—and that success ultimately diminishes both the incentive and desire to migrate. This important book debunks a powerful idea that has driven fiscal policy for years, and in doing so it clears the way for a new era. Millionaire taxes, Young argues, could give states the funds to pay for infrastructure, education, and other social programs to attract a group of people who are much more mobile—the younger generation. “An example of public sociology par excellence.” —Contemporary Sociology “With grace, sophistication, and unprecedented data, this important book feeds public debates on inequality, public policy, and the health of American democracy.” —Martin Gilens, author of Affluence and Influence

“[Cass’s] core principle—a culture of respect for work of all kinds—can help close the gap dividing the two Americas....” – William A. Galston, The Brookings Institution The American worker is in crisis. Wages have stagnated for more than a generation. Reliance on welfare programs has surged. Life expectancy is falling as substance abuse and obesity rates climb. These woes are not the inevitable result of irresistible global and technological forces. They are the direct consequence of a decades-long economic consensus that prioritized increasing consumption—regardless of the costs to American workers, their families, and their communities. Donald Trump’s rise to the presidency focused attention on the depth of the nation’s challenges, yet while everyone agrees something must change, the Left’s insistence on still more government spending and the Right’s faith in still more economic growth are recipes for repeating the mistakes of the past. In this groundbreaking re-evaluation of American society, economics, and public policy, Oren Cass challenges our basic assumptions about what prosperity means and where it comes from to reveal how we lost our way. The good news is that we can still turn things around—if the nation’s proverbial elites are willing to put the American worker’s interests first. Which is more important, pristine air quality, or well-paying jobs that support families? Unfettered access to the cheapest labor in the world, or renewed investment in the employment of Americans? Smoothing the path through college for the best students, or ensuring that every student acquires the skills to succeed in the modern economy? Cutting taxes, expanding the safety net, or adding money to low-wage paychecks? The renewal of work in America demands new answers to these questions. If we reinforce their vital role, workers supporting strong families and communities can provide the foundation for a thriving, self-sufficient society that offers opportunity to all.

Includes the stories “The Body” and “Rita Hayworth and Shawshank Redemption”—set in the fictional town of Castle Rock, Maine A “hypnotic” (The New York Times Book Review) collection of four novellas—including the inspirations behind the films Stand By Me and The Shawshank Redemption—from Stephen King, bound together by the changing of seasons, each taking on the theme of a journey with strikingly different tones and characters. This gripping collection begins with “Rita Hayworth and the Shawshank Redemption,” in which an unjustly imprisoned convict seeks a strange and startling revenge—the basis for the Best Picture Academy Award-nominee The Shawshank Redemption. Next is “Apt Pupil,” the inspiration for the film of the same name about top high school student Todd Bowden and his obsession with the dark and deadly past of an older man in town. In “The Body,” four rambunctious young boys plunge through the façade of a small town and come face-to-face with life, death, and intimations of their own mortality. This novella became the movie Stand By Me. Finally, a disgraced woman is determined to triumph over death in “The Breathing Method.” “The wondrous readability of his work, as well as the instant sense of communication with his characters, are what make Stephen King the consummate storyteller that he is,” hailed the Houston Chronicle about Different Seasons.

Migration has become an increasingly important phenomenon for societies, especially given its highly controversial political dimension. The complexity of the migrant integration process and its many varieties present challenges to policymakers who need high-quality information on which to base decisions. Nowhere is this necessity more pressing than in the development of relevant tax rules that meet the basic requirements of efficiency and equity. Moreover, the ascent of the so-called emerging economies coupled with the stagnation of the richest economies of the world implies reform of the current competition-based international tax regime and the adoption of a more cooperative paradigm. This important and timely book, for the first time in such depth, explores such aspects of the problem as the following: - migration for tax reasons, especially corporate "inversions" (change in corporate residence for tax purposes); - tax consequences related to individuals who receive free or subsidized education in one country and profit from it in another; - taxing cross-border retirement income; and - migration-related aspects of tax preferential treatment of the elderly. With particular emphasis on the effects and opportunities created by the changing international tax regime - and with attention to the role of tax treaties and recent court cases - chapters by well known tax experts present evidence on the consequences of migration in all its facets and simulate the effects of several recently enacted and proposed changes in tax law in European countries, the United States, and other jurisdictions. The grounded propositions and recommendations offered in this deeply informed book will allow policymakers to draft tax-residence rules that minimize distortion and promote fairness. The book will also be of interest to tax law practitioners and other tax specialists, migration experts, and academics investigating one of the crucial political issues of our time.

How do the rich get rich? An updated edition of the “remarkable” New York Times bestseller, based on two decades of research (The Washington Post). Most of the truly wealthy in the United States don’t live in Beverly Hills or on Park Avenue. They live next door. America’s wealthy seldom get that way through an inheritance or an advanced degree. They bargain-shop for used cars, raise children who don’t realize how rich their families are, and reject a lifestyle of flashy exhibitionism and competitive spending. In fact, the glamorous people many of us think of as “rich” are actually a tiny minority of America’s truly wealthy citizens—and behave quite differently than the majority. At the time of its first publication, The Millionaire Next Door was a groundbreaking examination of America’s rich—exposing for the first time the seven common qualities that appear over and over among this exclusive demographic. This edition includes a new foreword by Dr. Thomas J. Stanley—updating the original content in the context of the financial crash and the twenty-first century. “Their surprising results reveal fundamental qualities of this group that are diametrically opposed to today’s earn-and-consume culture.” —Library Journal

This is a print on demand edition of a hard to find publication. Examines terrorists¿ involvement in a variety of crimes ranging from motor vehicle violations, immigration fraud, and mfg. illegal firearms to counterfeiting, armed bank robbery, and smuggling weapons of mass destruction. There are 3 parts: (1) Compares the criminality of internat. jihad groups with domestic right-wing groups. (2) Six case studies of crimes includes trial transcripts, official reports, previous scholarship, and interviews with law enforce. officials and former terrorists are used to explore skills that made crimes possible; or events and lack of skill that the prevented crimes. Includes brief bio. of the terrorists along with descriptions of their org., strategies, and plots. (3) Analysis of the themes in closing arguments of the transcripts in Part 2. Illus.

In its analysis of the archaeologies and histories of the northern fringe of Europe, this book provides a focus on animistic–shamanistic cosmologies and the associated human–environment relations from the Neolithic to modern times. The North has fascinated Europeans throughout history, as an enchanted world of natural and supernatural marvels: a land of light and dark, of northern lights and the midnight sun, of witches and magic and of riches ranging from amber to oil. Northern lands conflate fantasies and realities. Rich archaeological, historical, ethnographic and folkloric materials combine in this book with cutting-edge theoretical perspectives drawn from relational ontologies and epistemologies, producing a fresh approach to the prehistory and history of a region that is pivotal to understanding Europe-wide processes, such as Neolithization and modernization. This book examines the mythical and actual northern worlds, with northern relational modes of perceiving and engaging with the world on the one hand and the ‘place’ of the North in European culture on the other. This book is an indispensable read for scholars of archaeology, anthropology, cultural studies and folklore in northern Europe, as well as researchers interested in how the North is intertwined with developments in the broader European and Eurasian world. It provides a deep-time understanding of globally topical issues and conflicting interests, as expressed by debates and controversies around Arctic resources, nature preservation and indigenous rights.

The Rich Boy is a short story by American writer F. Scott Fitzgerald. It was included in his 1926 collection All the Sad Young Men. The Fitzgerald scholar Matthew Bruccoli describes the story as "an extension of The Great Gatsby, enlarging the examination of the effects of wealth on character.