Conversation

Notices

1. Embed this notice
   Dizzfunctional (dizzfunctional@mastodon.world)'s status on Thursday, 03-Oct-2024 09:00:46 JST Dizzfunctional

   in reply to

   • Emeritus Prof Christopher May

   @ChrisMayLA6 They said the rich would flee Scotland when they put the top tax rate up. A few did in the first year - 0.3% of high earners, which cost around £61 million in lost tax revenue that year. The tax revenue grew by £600 million first year and further £300 million the second year.

   #TaxTheRich Those who want to contribute can leave. Don't let the door hit you on the way out! 👋

   • Embed this notice
     Emeritus Prof Christopher May (chrismayla6@zirk.us)'s status on Thursday, 03-Oct-2024 09:00:48 JST Emeritus Prof Christopher May

     Two views of the rich's response to the potential increase in capital gains tax...

     Nimesh Shah, tax advisor to the wealth: 'Every entrepreneur is talking about whether to move overseas...Some have done it already';

     Graham Hobson, founder of Photobox: '[I'd] love to see capital gains tax rates aligned with income tax...I am a rich person & I will not leave — as many others won’t'!

     So mass exodus or a few marginal migrations.... take your pick!

     #tax #wealth #politics
     h/t FT

     Bill repeated this.