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The title of that link seem to imply it was a net loss, but the numbers in the body seem to imply that while ~10k millionaires left, the tax revenue loss from m
by lelandbatey 2y ago
The title of that link seem to imply it was a net loss, but the numbers in the body seem to imply that while ~10k millionaires left, the tax revenue loss from millionaires leaving was $5b in (theoretical) yearly lost tax revenue (it's not clear from the article if all those millionaires leaving were even paying taxes as it notes many of them were in a grace period after entering before taxes kicked in, and it doesn't link to the downstream report from ASI).
Given that there's a lot more than 10 thousand millionaires in Britain and they are sticking around to pay taxes (more than enough to cover the $5b from those who left), I don't see how that's actually a bad thing?