Why do you despise the rich?
& how does that work when the head of a multinational doesnt set foot in that country?
So then why are these people still allowed to benefit from their earnings in the UK? If they leave to avoid taxes in their home country, then they should not be allowed to profit from any holdings they have there. It's that simple. If you want to benefit, you have to put back in. If you abandon your nation, then your nation takes back everything it gave you, and people retain everything they built to help you get rich. Nations and the people in them are not for plundering by a few powerful vultures.
This is part of the trend for the upper upper class to remove themselves from the community of the rest of the world, employing hush hush banks in one nation, holding companies in another, and hiring workers in yet another. These people have no loyalty to anyone but themselves, and clearly have no loyalty to any of the people they're interacting with along the way. No nation should house or protect them, and their holdings should be sacrificed. If they won't show loyalty to anyone else, then no one should show loyalty to them.
I think that a healthy wealth distribution is one that includes some wealth inequality. I do, however, think that there needs to be a system through which people are prevented from becoming "too big to fail" so to speak, especially across generations of wealthy families. Extreme wealth inequality is damaging to an economy, but some inequality (along with upward mobility) promotes productivity and ambition.
I directly quoted you, so it's not really a misquote...unless you don't understand what a quote is. You apparently equate taxes reverting back to their pre-Bush II rates as being similar to the plight of the Jews. I think that any Jewish person would be offended by your distasteful comparison.
How should it? Most of the CEO's get the bulk of their pay in stocks so why should theirs be treated differently than anybody else's in terms of taxes?
So when I moved to Germany permanently from the US, I should've had all of my savings confiscated? I know you're referring specifically to the super rich, but I don't see how it would be different based on income.
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
Because hoarding wealth is gluttony and they do so by corrupting the people's government to legislate their own greed.
Successful people do not hoard wealth, rich people do.
If you left the US to avoid paying your taxes, yes. As long as you paid your taxes then no harm no foul.
Australia
$54,550 plus 45c for each $1 over $180,000
The above rates do not include the Medicare levy of 1.5% (see Guide to Medicare levy for more information).
The difference is "anybody else" is in the country.
Makes a big old difference.
Because hoarding wealth is gluttony and they do so by corrupting the people's government to legislate their own greed.
Successful people do not hoard wealth, rich people do.
Australia
Really?
Australian tax codes:
$180,001 and over
Let's see.. that works out to 45% + 1.5% for Medicare, or 46.5% as a top marginal tax rate. That would mean that the wealthy Brits moved halfway around the world, presumably that far away from family and friends, to save 3.5% on their taxes.
Could that really be?
If so, then it should be safe for the USA to raise its top marginal rate to 39%, as would happen if we went over the "fiscal cliff", and expect wealthy Brits and Kiwis to want to immigrate to the USA to avoid paying as much in taxes. Add their millionaires to ours, and we could increase our tax base substantially, it seems to me. All we need to do is amend our immigration laws to allow anyone with an income of over a million pounds to come here just for the asking.
Not really.
Unless I am misreading/missing something, the owners of GM stock, for instance, might be spread all over the world, so should they all have to pay taxes on their dividends/cap gains everywhere in the world GM does business by your measure?
Well that settles that, you have the reading comprehension of a 5 year old AND you are willfully dishonest. That is a combination worthy of making my ignore list. Goodbye
The article said they are going to Australia and I'm sure there tax code is complex and the millionaires must see going there is to their benefit.Their must be some reason they are going there instead of coming here since on the surface our tax seems lower. One thing for sure they are leaving the UK in droves and draining its coffers by billions, their is a lesson to be learned here. Yes you really can kill the goose that lays the golden egg and you can do so without firing a shot.
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
Not really. Unless I am misreading/missing something, the owners of GM stock, for instance, might be spread all over the world, so should they all have to pay taxes on their dividends/cap gains everywhere in the world GM does business by your measure?
The corporation pays taxes in each area where the company does business.
I am aware of that. The issue as I understand it was whether the CEO should have to pay personal income taxes everywhere the company does business as well, which is insane IMHO.
Really?
Australian tax codes:
$180,001 and over
Let's see.. that works out to 45% + 1.5% for Medicare, or 46.5% as a top marginal tax rate. That would mean that the wealthy Brits moved halfway around the world, presumably that far away from family and friends, to save 3.5% on their taxes.
Could that really be?
If so, then it should be safe for the USA to raise its top marginal rate to 39%, as would happen if we went over the "fiscal cliff", and expect wealthy Brits and Kiwis to want to immigrate to the USA to avoid paying as much in taxesQUOTE]. Add their millionaires to ours, and we could increase our tax base substantially, it seems to me. All we need to do is amend our immigration laws to allow anyone with an income of over a million pounds to come here just for the asking.[/
Apparently Australia is doing just that and it explains why UK millionaires are going there.
"In a controversial move the Australian government has announced plans to introduce a new visa category offering a fast-track residency path for substantial investment in Australia. It is believed that the pathway to permanent residency will rest upon the investment of at least AU$5 million across a range of different investment assets."
Australian government chases the millionaires
Really?
Australian tax codes:
$180,001 and over
Let's see.. that works out to 45% + 1.5% for Medicare, or 46.5% as a top marginal tax rate. That would mean that the wealthy Brits moved halfway around the world, presumably that far away from family and friends, to save 3.5% on their taxes.
Could that really be?
If so, then it should be safe for the USA to raise its top marginal rate to 39%, as would happen if we went over the "fiscal cliff", and expect wealthy Brits and Kiwis to want to immigrate to the USA to avoid paying as much in taxesQUOTE]
Apparently Australia is doing just that and it explains why UK millionaires are going there.
"In a controversial move the Australian government has announced plans to introduce a new visa category offering a fast-track residency path for substantial investment in Australia. It is believed that the pathway to permanent residency will rest upon the investment of at least AU$5 million across a range of different investment assets."
Australian government chases the millionaires
The Aussies beat us to it.
Well firstly many abandon the country completely, so your argument doesnt apply to them, but secondly we now live in a world of global companies so a lot of CEO's etc. live abroad & you cant demand they all live in all the countries they operate in, nor pay tax in them all, & they will pick the best one for them.
& how does that work when the head of a multinational doesnt set foot in that country?
Because it's their property, why do you think? Where was it agreed upon that the government has that sort of authority over individual property?
For someone supposedly studying to be a laywer, this idea that "loyalty" and your emotional perception of what people "should do", rather than the law being the deciding factor, is outrageous. Might as well be a doctor that plans on hurting patients intentionally with that sort of mindset.
In the U.S. no matter where you get profits, it gets taxed. This helps prevent offshore tax havens. And you have to report it either way, so if it is offshore, they know you owe, and you pay, else face tax evasion. It doesn't require pillaging private citizens with terrifyingly inappropriate government authority as you suggested. Good grief.
And now we here from the socialist-fascist crowd. What you are advocating is pretty much what Nazi's did to the Jews and the Soviet Union did to East Germans. You would hold people in a country hostage and confiscate their wealth. In short you advocate turning a country into a prison.
So when I moved to Germany permanently from the US, I should've had all of my savings confiscated? I know you're referring specifically to the super rich, but I don't see how it would be different based on income.
I believe the people in question paid their taxes owed then left to avoid paying future taxes. How does your reason for leaving change the situation, and how would the government ascertain their reasons for leaving in a court of law?
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