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  1. 29 Nov '12 00:33
    http://www.telegraph.co.uk/news/politics/9707029/Two-thirds-of-millionaires-left-Britain-to-avoid-50p-tax-rate.html


    If the story is correct and nearly 7 out of 10 rich people gave up their citizenship to escape higher taxes, how does raising taxes on the rich help generate revenues?
  2. Standard member sasquatch672
    Don't Like It Leave
    29 Nov '12 00:57 / 1 edit
    Originally posted by Eladar
    http://www.telegraph.co.uk/news/politics/9707029/Two-thirds-of-millionaires-left-Britain-to-avoid-50p-tax-rate.html


    If the story is correct and nearly 7 out of 10 rich people gave up their citizenship to escape higher taxes, how does raising taxes on the rich help generate revenues?
    You don't understand. These people are just not worthy. They should want to pay all that.

    EDIT: I particularly like the bit where it says that the higher tax rate resulted in a net loss of £7 billion. I don't think Britons even need to renounce their citizenship. If they work abroad, I believe they don't pay income tax in Britain.

    What I fail to understand is how Collectivists (a friend was right; they don't deserve the honor of being called Liberals) don't associate the policies they would implement here with the near-collapse of Europe.
  3. Subscriber AThousandYoung
    It's only business
    29 Nov '12 01:02
    Where are they going?
  4. Subscriber no1marauder
    It's Nice to Be Nice
    29 Nov '12 01:27 / 1 edit
    Originally posted by Eladar
    http://www.telegraph.co.uk/news/politics/9707029/Two-thirds-of-millionaires-left-Britain-to-avoid-50p-tax-rate.html


    If the story is correct and nearly 7 out of 10 rich people gave up their citizenship to escape higher taxes, how does raising taxes on the rich help generate revenues?
    LMAO! The figures say no such thing. They do say that in 2009 there was a drop in the number of people with $1 million pounds of annual income. What a shock; the British economy as a result of the worldwide financial crisis contracted by almost 5% that year. The same thing happened in the US in 2009 even though there was no change in tax rates:

    Just 8,274 taxpayers reported income of $10 million or more in 2009, down 55 percent from 18,394 in 2007.

    http://www.reuters.com/article/2011/08/04/us-usa-economy-incomes-idUSTRE77302W20110804



    Another right wing fairy tale.