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

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

    And who is more likely to stuff it in their mattress or invest it? The millionaire or the person with only a $1000?


    Quote Originally Posted by Dittohead not! View Post
    If it is hoarded by keeping it in a savings account, then it's available to others via loans from the bank. If it's hoarded by buying stocks, then it's available to the issuers of those stocks. It's only kept out of the economy if it's hoarded by keeping it under your mattress.

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

    Quote Originally Posted by AliHajiSheik View Post
    Could be more specific? What percent is damaging and what is merely troubling to you.

    Demand can be created. I didn't demand a Walkman, an iPod or an iPhone.
    That would be a question best fit for a team of economists dedicated to the issue. I think it's safe to say, however, that the level of wealth inequality in which we currently find ourselves is more than just "troubling to me".

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

    Quote Originally Posted by CalGun View Post
    And who is more likely to stuff it in their mattress or invest it? The millionaire or the person with only a $1000?
    Probably the guy who doesn't mind a lumpy mattress.
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

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

    Quote Originally Posted by JRog View Post
    That would be a question best fit for a team of economists dedicated to the issue. I think it's safe to say, however, that the level of wealth inequality in which we currently find ourselves is more than just "troubling to me".
    Perhaps so, but why should it be troubling to anyone else? What impact has it had on you? Since total wealth is not a distinct amount, then presumably the wealth is constantly on the move. Additionally, many aspects of wealth are capricious and subject to being rare. For example, Apple may sell for $500/share, and by that we assume that every share is worth $500. How fluid is that?

    Furthermore, assuming that the current level of wealth inequality is "troubling to you", what is your solution to get the level to "below troubling"?

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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
    I think that the OP makes a strong argument that the rich are traitors and have no allegiance to anything or anybody but themselves.

    Maybe the conservatives need to rethink this silly meme.
    And to what allegence do the poor have? You're a very confused person, and frankly you're circular logic is middle school level.


    Tim-
    “When buying and selling are controlled by legislation, the first things to be bought and sold are legislators.” - P. J. O’Rourke
    “Socialism is great until you run out of someone elses money” Margaret Thatcher

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

    Quote Originally Posted by Hicup View Post
    And to what allegence do the poor have? You're a very confused person, and frankly you're circular logic is middle school level.


    Tim-
    So now the meme is -- the rich leave the country to avoid taxes, but the poor are traitors because . . . just because.

    Conservative logic -- it's done it again!

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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
    So now the meme is -- the rich leave the country to avoid taxes, but the poor are traitors because . . . just because.

    Conservative logic -- it's done it again!
    Yep, I thought the langauge would confuse you further, and it appears I was correct. I know you think you're having a great time here at DP, that YOU have us all reeling, and our heads are about to explode, but the joke, sad as it is, is on you, peaches. IN a certain area of DP, you're the laughing stock already, and by both sides of the spectrum. Or maybe you didn't get that meme?


    tim-
    “When buying and selling are controlled by legislation, the first things to be bought and sold are legislators.” - P. J. O’Rourke
    “Socialism is great until you run out of someone elses money” Margaret Thatcher

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

    Quote Originally Posted by Hicup View Post
    Yep, I thought the langauge would confuse you further, and it appears I was correct. I know you think you're having a great time here at DP, that YOU have us all reeling, and our heads are about to explode, but the joke, sad as it is, is on you, peaches. IN a certain area of DP, you're the laughing stock already, and by both sides of the spectrum. Or maybe you didn't get that meme?


    tim-
    Yep, you're confused, as is your language.

    But I'm glad you find me so interesting.

    Meanwhile back on topic . . .

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

    Quote Originally Posted by AliHajiSheik View Post
    Perhaps so, but why should it be troubling to anyone else? What impact has it had on you? Since total wealth is not a distinct amount, then presumably the wealth is constantly on the move. Additionally, many aspects of wealth are capricious and subject to being rare. For example, Apple may sell for $500/share, and by that we assume that every share is worth $500. How fluid is that?

    Furthermore, assuming that the current level of wealth inequality is "troubling to you", what is your solution to get the level to "below troubling"?
    I don't believe I ever used the phrase "troubling to me", so I am now sure why you keep putting that in quotes.
    Total wealth is certainly a moving target, but the increase in the total wealth of the nation has gone almost entirely to the wealthy class while the average US worker has increased in productivity. Translated to layman's terms, this is an indication that employers are squeezing more productivity out of employees and pocketing the extra income. Furthermore, what I do find "troubling" is partisan defense of unhealthy economic practices. You'd argue that it is the right of the nation's wealthiest to increase their income by almost 300% over the last 30 years while the employees generating that revenue have stagnant real wages. I'd have to disagree.

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

    Quote Originally Posted by Hicup View Post
    And to what allegence do the poor have? You're a very confused person, and frankly you're circular logic is middle school level.


    Tim-
    I think the point here is that we've witnessed the pursuit of wealth being held above the pursuit of a healthy society. Please explain to me how one can be patriotic while threatening to withdraw their wealth from this nation's economy if their taxes go up? How can someone care about the society in which they live when they create a business model to ensure their employees work just below full time to exempt them from having to provide medical insurance? Keep in mind that these investors/companie can still generate profit while paying higher taxes or providing medical insurance. The only issue here is that they wouldn't generate as much income.

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