A French government report has concluded that on average at least one millionaire leaves France every day to settle in a more wealth-friendly country.

Denis Payre is an example of this. He built a successful high-tech company from scratch and decided to quit at the age of 34 to spend time with his family. Instead Payre was forced to leave France as the government sent him a tax bill of nearly $2.5 million on paper assets he couldn’t cash in. Payre, who is now 43 years old, has started a new company in Brussels and tells the Post that he did nearly $32 million in business this year. He has little sympathy for the French system which penalizes success. “The loss in income for the government is the smallest part,” he said. “The big issue is the loss of all that creative energy this country is dying for.”

The long term consequence of an economic policy that punishes entrepreneurship and hard work regulates the job market while creating ample options to live off government remains the same: stagnation, high unemployment and gifted people fleeing the country.

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