Is there really a magical road that will lead one from the dark forest of high taxes to the happy Land of Oz? Well, it looks like Nicholas Sarkozy and Phil Mickelson may be practicing their dance steps to take a trip down the yellow bricks to find sanctuary before the flying monkeys get their wallets.
Fox News reports from France…
Former French President Nicolas Sarkozy may be planning to move out of the country to London to avoid a potential 75 percent tax rate.
The move would be made to set up a billion-dollar investment fund, according to materials recovered in a raid on Sarkozy’s home in June, Mediapart reports, cited in the London Evening Standard.
Sarkozy is under investigation in France over allegations that he took money from L’Oreal heiress Liliane Bettencourt to bankroll his 2007 presidential election campaign.
And Mickelson has his “Eureka!” moment…
Golfer Phil Mickelson wants a mulligan.
Mickelson — who hinted he might move from his home state of California to escape higher taxes — said he regretted his public rant on the issue after setting off a political firestorm.
“Finances and taxes are a personal matter and I should not have made my opinions on them public,” according to a statement from Mickelson, who plans to elaborate today at the Farmers Insurance Open.
“I apologize to those I have upset or insulted and assure you I intend to not let it happen again.”
The three-time Masters champ said he was mulling “drastic changes” in the face of rising state and federal tax rates following a golf event in La Quinta, Calif. Sunday.
California’s Proposition 30 hikes the income tax rate from 10.3 percent to 13.3 percent on those making more than $1 million a year, while Mickelson’s federal bracket is jumping from 35 percent to 39.6 percent under new tax laws.
Mickelson — who suggested his overall tax rate was approaching 63 percent — is the seventh highest-paid athlete in the US and earned $47 million last year alone, according to Forbes.