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SHOCKER: Millionaires Flee the Country When More of Their Wealth is Confiscated Than They Are Allowed to Keep

Posted By Robbie Cooper On 11/28/2012 @ 9:46 am In Politics | 3 Comments

Via Drudge:

PAPER: Two-thirds of millionaires left Britain to avoid 50% tax rate… drudge.tw/Rispjs ^[1]

— DRUDGE REPORT (@DRUDGE_REPORT) November 28, 2012 ^[2]

And yet US Liberals somehow think that US millionaires (let’s call ‘em the productive “makers”) won’t do the same. And will instead stand by and allow our corrupt government to steal their hard-earned wealth and redistribute it to those who have not earned it (let’s call ‘em the “takers” or “Obama voters”).

We call this “Going Galt.” A phrase Liberals should become very familiar with over the next 4 years as the economy completes its collapse and the true job producers in this country pack it in and disappear.

n 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 tax shortly before the last general election.

The figures have been seized upon by the Conservatives to claim that increasing the highest rate of tax actually led to a loss in revenues for the Government.

It is believed that rich Britons moved abroad or took steps to avoid paying the new levy by reducing their taxable incomes.

Related reading from Zero Hedge: When Work Is Punished: The Tragedy Of America’s Welfare State ^[3]

12/26/2012 -- California’s Largest Corporation is Going Galt ^[4] (0)
11/8/2012 -- Boeing “Unexpectedly” (and conveniently) Announces Huge Layoffs to Their Defense Division ^[5] (6)
9/24/2011 -- Five myths about millionaires ^[6] (2)
3/8/2009 -- UK Media Notes That Obama is a Terrible Vetter ^[7] (1)
7/23/2012 -- Another Obama Milestone: US Poverty Rate at Highest Levels in More Than 50 Years ^[8] (2)

Zemanta ^[9]

Tweet ^[10]

Article printed from UrbanGrounds: http://urbangrounds.com

URL to article: http://urbangrounds.com/2012/11/going-galt-uk/

URLs in this post:

[1] drudge.tw/Rispjs: http://t.co/MTdBeYvd

[2] November 28, 2012: https://twitter.com/DRUDGE_REPORT/status/273778409203720192

[3] When Work Is Punished: The Tragedy Of America’s Welfare State: http://www.zerohedge.com/news/2012-11-27/when-work-punished-tragedy-americas-welfare-state

[4] California’s Largest Corporation is Going Galt: http://urbangrounds.com/2012/12/chevron-going-galt/

[5] Boeing “Unexpectedly” (and conveniently) Announces Huge Layoffs to Their Defense Division: http://urbangrounds.com/2012/11/boeing-layoffs/

[6] Five myths about millionaires: http://urbangrounds.com/2011/09/five-myths-about-millionaires/

[7] UK Media Notes That Obama is a Terrible Vetter: http://urbangrounds.com/2009/03/uk-media-vs-obama/

[8] Another Obama Milestone: US Poverty Rate at Highest Levels in More Than 50 Years: http://urbangrounds.com/2012/07/poverty-rate-record/

[9] Zemanta: http://www.zemanta.com/?wp-related-posts

[10] Tweet: http://twitter.com/share?url=http%3A%2F%2Furbangrounds.com%2F2012%2F11%2Fgoing-galt-uk%2F&via=robbiecooper&text=SHOCKER%3A%20Millionaires%20Flee%20the%20Country%20When%20More%20of%20Their%20Wealth%20is%20Confiscated%20Than%20They%20Are%20Allowed%20to%20Keep&related=&lang=en&count=horizontal&counturl=http%3A%2F%2Furbangrounds.com%2F2012%2F11%2Fgoing-galt-uk%2F

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