Yeah up until they fuck off
Except they'll just leave the country lmao
Except they won’t
The top 1% absolutely will
The top 5% will too.
They don't even need the credentials to leave, they can buy their way into other nations
The cost and risk of moving are too high
America being one of them. You can easily move over if you have enough money
For someone in the top 5%? No it isn't lmao
For a middle/upper middle class person or family, it'll be too big of a risk.
If they have a t assets in the UK still such as property, they will still need to pay taxes on it
liquidate then leave the country lmfao
It’s very hard for people to just up and leave
Then they still get taxed @idelsr
In the liquidation process
Then, wherever they go they need to setup again
yes. but they get taxed once
Which isn’t an easy thing to do
On ALL their assets @idelsr
Rather than just their income
Which means they will pay more in tax.
yes. if they have enough fuck off money, then they will be willing to cut their losses
if it means not getting fucked up the ass every year they stay
This implies that capital flight never happens because it's too annoying
They’re willing to lose 20% of all their assets because they want to earn 200k rather than 120k?
Hell, some capital flight might be a good thing in some regards
Devalue the currency, making it easier to export goods
But it’s significantly overstated than what you lot are talking about
If they run businesses, those realistically aren’t going to move
“Oh no, the ultra rich won’t be able to afford another home!, they might not buy another boat!” And why should I feel sympathy for them?
because you want them to keep paying taxes
They pay less taxes than they should be already, because they abuse loopholes
are we talking "tax write-off" loopholes?
https://www.independent.co.uk/news/business/news/inheritance-tax-rates-wealthiest-uk-estates-avoidance-a8852616.html
There’s this for example
https://www.theguardian.com/business/2019/nov/05/thousands-of-uks-richest-people-exploiting-loophole-to-cut-tax-rate
This
thing is people dont really seem to understand the difference between what people are paying taxes on... and estimated net "wealth"
like bezos only gets paid 80k a year... so its not really worth him to leave the country if taxes rise... but also the state doesnt get much taxes from him anyway
or I think recently he up'd his pay to 87k or something
And if they leave the country. So what.
