As political, social and economic conditions deteriorate rapidly throughout Europe, mainly due to climate hysteria policies and open borders, the rich are packing up and taking lives and capital elsewhere. [emphasis, links added]
High energy prices, climate hysteria, dwindling freedom, strict regulations, high crime rates and social decay are eroding the utopia of globalism.
More and more European countries are implementing so-called exit taxes to curb the tax paradise supply of the wealthy and ensure the outflow of their internal tax bases.
Countries like Germany, Norway and Belgium are leading new regulations aimed at levying taxes before individual immigrants.
This is similar to when the East German Communist Party built a wall to prevent its citizens from moving to the free market in democratic West Germany in 1961. Today, this wall is replaced by the exit tax.
The UK and the Netherlands are also exploring withdrawal taxes. David Lesperance of Lesperance & Associates noted that it had a significant impact on those who were not liquid assets because they might lack direct funds to pay tax laws, which made immigration a difficult decision.
To illustrate how this works, a German medical student with a €800,000 start-up stake could face a tax of €200,000. Norway has imposed a 38% levy on unrealized capital gains, even closing down legal loopholes in evasion.
This prompted famous Norwegians, such as Ninja Tollefsen and Olympic champion bjørn Dæhlie, to leave the country.
German regulations extend corporate equity by 1% or more, or a regulation worth more than €500,000, with recent reforms including investment funds at tax rates up to 45%.
France imposes a 30% exit tax on stock assets over 800,000 euros, while Belgium imposes a 10% tax on capital gains starting in July. The United States targets wealthy former citizens and green card holders. Although the UK has not officially passed the withdrawal tax, financial experts advocate for increased measures.
Switzerland, Italy, and even some U.S. states have become attractive for their more favorable tax conditions, emphasizing ongoing global capital competition.
Green – New deal Europe is losing this game.
The young man is leaving
If the wealthy departure is not bad enough, young people are also considering exports, especially in Germany, where a large number of young workers are considering or actively planning to leave the country.
About 10% of young professionals under the age of 30 are actively considering working abroad in other countries such as Switzerland, the United States or Spain.
Read more in the No Skills Area
