Rich people are starting to flee America for tax havens elsewhere. It's not as bad as refugees getting out of North Korea. But it's not good.

The most publicized recent example has been Eduardo Saverin, a co-founder of Facebook, worth approximately $3.8 billion. That's if Facebook's initial public stock offering, which began trading Friday, hauls in a projected $104 billion, based on the price target of $38 set by the company.

It recently came out that Saverin renounced his U.S. citizenship in September and now lives in Singapore. Reported Bloomberg, "Besides helping cut tax bills stemming from the Facebook IPO, the move may also help him avoid capital-gains taxes on future investments since Singapore doesn't have a capital-gains tax."

The top U.S. capital-gains tax currently is 15 percent, and could rise to 20 percent next year if President Obama is re-elected and current tax cuts expire. The top California capital-gains tax is 9.3 percent. So, assuming Saverin lived in California, potentially he's avoiding a 29.3 percent capital-gains tax.

As to income tax, Singapore's top rate is 20 percent. By contrast, the top U.S. rate is 35 percent, but could become 39.6 percent if Obama has his way. California's top income-tax rate is 10.3 percent, but could become 13.3 percent should Gov. Jerry Brown's tax increase initiative be passed by voters in November. The possible combined top U.S. and California income tax rate for next year: 52.9 percent. That's compared with Singapore's 20 percent.

And it's not exactly like Saverin — or any of us — is getting high-quality return on taxes. Especially in California, many roads are crumbling, many schools are poor, the public-employee pensions are unsustainable, and state and local governments face potential Greece-style bankruptcies.

Renouncing citizenship in the "Land of the Free" once was unthinkable. But ABC reported that nearly 1,800 people did so in 2011, "up from 235 in 2008." Critics have attacked the patriotism of those leaving. But the expatriates should be seen as canaries in the coal mine. Free countries don't repel people; they attract them. Of course, America remains a haven for the poor and oppressed around the world. But it also should be more welcoming to those who use their wealth to create businesses and jobs.

People move in and out of countries for reasons other than taxation. Unfortunately, Gov. Brown in his tax-increase pitch and President Obama in his campaign of envy of the rich, both are making targets of people like Saverin.

Sen. Chuck Schumer, D-N.Y., for example, said Thursday that he would push to bar people who give up citizenship to avoid taxes from re-entering the U.S.

Contrast that with countries that are flourishing — such as Singapore and formerly communist China — which are more welcoming to those who innovate and invest. If the goose leaves, you don't get the golden eggs.

REPRINTED FROM THE PANAMA CITY NEWS HERALD