setInner234
@setInner234@lemmy.ml
- Comment on A UK headline wealth tax? It may be simpler to put up existing taxes 4 days ago:
That millionaires leaving in droves myth is always trotted out in these debates.
The very institute that was perpetuating the idea recently rescinded their own report because the UK is making millionaires at 10x the rate they are leaving. But of course that’s not reported on.
Plus, again, the ultra rich operating on a global scale don’t pay taxes anyway, so good riddance.
Did all the millionaires leave when taxes were incredibly high compared to today’s standards? And again we’re talking progressive taxation. Only income above a certain threshold would have a higher rate applied. They won’t notice it. They literally are just fighting it because they can.
Many UK millionaires only speak English and don’t want to uproot their lives to save a tiny amount on taxes (the S&P500’s returns will always make up for whatever tiny additional percentage we might tax the rich).
It’s so silly to think that there’s this millionaire flight. By now we wouldn’t have any left.
Oh and conveniently it’s happening in all other countries too. So where are they going, space? Antarctica? It’s propaganda for the stupid.