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Thread: Two-thirds of millionaires left Britain to avoid 50p tax rate

  1. #111
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    Re: Two-thirds of millionaires left Britain to avoid 50p tax rate

    Quote Originally Posted by sawyerloggingon View Post
    The question is will obama and the Democrats learn anything from this.


    "Almost two-thirds of the country’s million-pound earners disappeared from Britain after the introduction of the 50p top rate of tax, figures have disclosed."


    "In the 2009-10 tax year, more than 16,000 people declared an annual income of more than £1 million to HM Revenue and Customs.

    This number fell to just 6,000 after Gordon Brown introduced the new 50p top rate of income"

    : “Labour’s ideological tax hike led to a tax cull of millionaires.
    Far from raising funds, it actually cost the UK £7 billions in lost tax revenue.


    Two-thirds of millionaires left Britain to avoid 50p tax rate - Telegraph
    Both you and the Telegraph are placing your own ideological spin on this story. The article contradicts its own headline in fact...
    It is believed that rich Britons moved abroad or took steps to avoid paying the new levy by reducing their taxable incomes.
    I'm more inclined to believe that that second possibility, of paying their big city accountants to avoid declaring their entire income, hence seeing their income fall...on paper only. Typically, neither you nor the Daily Torygraph post any evidence to back up your claim. It's nothing more than supposition on behalf of the class warriors of the right.
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  2. #112
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    Re: Two-thirds of millionaires left Britain to avoid 50p tax rate

    Quote Originally Posted by sawyerloggingon View Post
    The question is will obama and the Democrats learn anything from this.


    "Almost two-thirds of the country’s million-pound earners disappeared from Britain after the introduction of the 50p top rate of tax, figures have disclosed."


    "In the 2009-10 tax year, more than 16,000 people declared an annual income of more than £1 million to HM Revenue and Customs.

    This number fell to just 6,000 after Gordon Brown introduced the new 50p top rate of income"

    : “Labour’s ideological tax hike led to a tax cull of millionaires.
    Far from raising funds, it actually cost the UK £7 billions in lost tax revenue.


    Two-thirds of millionaires left Britain to avoid 50p tax rate - Telegraph
    Letting the temporary tax relief of 2001 and 2003 expire; thus returning our tax structure to what is was in the 1990's is not going to lead to a massive wealth drain.

    Thank you, however, for one of the more humorous points of argumentation this board has seen since the election.

  3. #113
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    Re: Two-thirds of millionaires left Britain to avoid 50p tax rate

    Quote Originally Posted by AliHajiSheik View Post
    Does wealth inequality mean that there are some people have more than you? What of it?
    Wealth inequality is when the amount of wealth is not evenly distributed. It's healthy to have inequality. EXTREME wealth inequality is when a significant amount of an economy's value rests with very few people. That is unhealthy because those who have the money, have so much of it that they can't possibly spend it (nor do they want to), which takes that money out of circulation. Sure they invest it where it will earn money, but investing does not generate demand, and therefore does not stimulate growth.

    This is a good chart to reference
    http://chewychunks.files.wordpress.c...ng?w=630&h=263

  4. #114
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    Re: Two-thirds of millionaires left Britain to avoid 50p tax rate

    Quote Originally Posted by head of joaquin View Post
    To summarize, the silly meme of the OP reduces to an admission that rich people have no love of any country and thus only care about making more and more money for themselves, no matter who that hurts (even though they are already fabulously rich and don't have to work another day of their lifes).

    And somehow tea partiers think this is an argument for taxing the rich less!

    You have to love rightwing memes. So out of touch.
    so you think that having more of one's wealth taken by a wasteful government is a measure of one's love of one's country?

    the fact is-many people use more than they pay. the wealthy do not

  5. #115
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    Re: Two-thirds of millionaires left Britain to avoid 50p tax rate

    Quote Originally Posted by upsideguy View Post
    Letting the temporary tax relief of 2001 and 2003 expire; thus returning our tax structure to what is was in the 1990's is not going to lead to a massive wealth drain.

    Thank you, however, for one of the more humorous points of argumentation this board has seen since the election.
    I love the love the left has for the clinton tax rates.

  6. #116
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    Re: Two-thirds of millionaires left Britain to avoid 50p tax rate

    Quote Originally Posted by TurtleDude View Post
    I love the love the left has for the clinton tax rates.
    Tax the whiners more and put hefty fines for hiding money off shore and HUGE fees every quarter they supply the chinese with a job...then raise their tax rates back where they belong 70% no loopholes

  7. #117
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    Re: Two-thirds of millionaires left Britain to avoid 50p tax rate

    Quote Originally Posted by lpast View Post
    Tax the whiners more and put hefty fines for hiding money off shore and HUGE fees every quarter they supply the chinese with a job...then raise their tax rates back where they belong 70% no loopholes
    are you posting this out of a well thought of belief that the such idiotic actions would actually help things or is it rather the product of some sort of envy of those who are more successful than you are?

  8. #118
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    Re: Two-thirds of millionaires left Britain to avoid 50p tax rate

    Quote Originally Posted by TurtleDude View Post
    are you posting this out of a well thought of belief that the such idiotic actions would actually help things or is it rather the product of some sort of envy of those who are more successful than you are?
    I just want to see you cry until your entire body is just a little puddle

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    Re: Two-thirds of millionaires left Britain to avoid 50p tax rate

    Quote Originally Posted by lpast View Post
    I just want to see you cry until your entire body is just a little puddle
    you will die a disappointed man then

  10. #120
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    Re: Two-thirds of millionaires left Britain to avoid 50p tax rate

    Quote Originally Posted by TurtleDude View Post
    you will die a disappointed man then
    You kiddin your mostly puddle already from all those croc tears...loolol

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