A while back Chad told us that if you raise taxes the rich just leave, and that he expected this or something like it would happen in France. There is some info on this and it looks like they are not fleeing.
Apparently California also managed to pass a large tax increase. Things are still not great there, but they have improved a lot. And as far as right wing predictions about the expected problems including the fleeing of the rich, once again it's just not true. I know it sounds plausible to them prior to considering the data, but it seems like the data over and over prove their plausible sounding theories wrong.
In France unfortunately despite the tax hikes and election of a liberal it's still an austerity response. Overall things are not great there, but people aren't fleeing because of high taxes. It's really kind of baffling that regular people still believe this myth that low regulation and low taxation leads to economic growth and a better life for all. I don't think there's a single case of austerity working in Europe post 2008. Sure, I understand why politicians continue to pursue it. I understand why Obama wants to cut Social Security and Medicare benefits even though it won't do any good. His wealthy backers demand it, and they think in terms of short term increases in their wealth/profits. So yeah, it's not terribly surprising that politicians pursue this strategy. But it is kind of amazing that regular people, like most of us that reside amongst the 99%, also think the is the wise course of action. It always fails. The rich know and don't care. It doesn't hurt them. It hurts everyone else.