With respect to capital flight...

An earlier post this morning, I noted that the rich in France are going to leave due to the confiscatory rates about to be imposed upon them.

These confiscatory rates are exactly what Paul Krugman and his ilk want to impose upon America.  He justifies this by saying that America had higher rates in the past and the country prospered.  However, this was in the forties and fifties when most of the industrialized world was still recovering from the devastation of World War II.  With high rates in America, where did the rich have as an option to flee to?  There were not so many good options, and none as good as America.

The situation Krugman wants to recreate is impossible today.  The world has recovered, so there are plenty of safe havens for the rich to run away to.  What's to prevent that from happening to America if Krugman gets his way?  More stringent regulations?  How are these working today?

The last thing this country needs is capital flight.  Krugman is fighting the last war.  Generals who fight the last war are losers.  No need to compound that misery.  There has to be a better way.