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Last I heard the rich are leaving the UK eroding your tax base. Im sorry but it is going to be higher taxes for you all
by greyw 1y ago
Last I heard the rich are leaving the UK eroding your tax base. Im sorry but it is going to be higher taxes for you all
- vixen99 1y ago'The highest earning 1% in the UK pay an estimated 28% of all income tax. ' https://fullfact.org/economy/do-top-1-earners-pay-28-tax-burden/ https://fullfact.org/economy/do-top-1-earners-pay-28-tax-bur... The good news is that not all that '1% of the rich' are leaving. However unless this 28% of all tax figure is wrong, inevitably there will be an increase to counter the loss.
- rainingmonkey 1y agoThat's a myth, all the breathless reporting of an "exodus of millionaires" comes from one very dodgy report. Of course, the narrative suits the wealthy owners of the media, so the story gets repeated anyway. https://www.newstatesman.com/politics/2025/07/the-british-wealth-exodus-is-a-big-fat-myth https://www.newstatesman.com/politics/2025/07/the-british-we...
- greyw 1y agoThe outcome is not as clear as you make it to be. The Norwegian wealth tax hike resulted in a loss of about $600mn of tax revenue. We will see at which point the british will end up on the laffer curve.