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Home - by - November 28, 2012 - 13:45 America/New_York - 11 Comments

Two-thirds of millionaires left Britain to avoid 50p tax rate

Telegraph-

In 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.

Oh, this is only a “claim.”

George Osborne, the Chancellor, announced in the Budget earlier this year that the 50p top rate will be reduced to 45p from next April.

Since the announcement, the number of people declaring annual incomes of more than £1 million has risen to 10,000.

See how that works, you moronic progressives!?!

» 11 Comments

  1. Anonymous

    November 28th, 2012

    The British must be racists too

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  2. Econ. Professor of Oz

    November 28th, 2012

    NO!! This is 100% incorrect (though I have no evidence, short of my Ph.D) to say so…….

    Rich people loved to be taxed! (*clicks heels*)

    Rich people loved to be taxed! (*clicks heels*)

    Rich people loved to be taxed! (*clicks heels*)

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  3. Diann

    November 28th, 2012

    Good God, it’s like “Logan’s Run.” Only instead of having to run for your life because you turned 30, you run for your life because you turned a profit.

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  4. Menderman

    November 28th, 2012

    You hear about Obama’s $1.16 trillion in deficit reduction in his “Fiscal Cliff” speeches right? Well, those “reductions” are tax increases on the rich and dead.

    http://www.whitehouse.gov/infographics/extending-middle-class-tax-cuts

    In DC, “cuts” are not spending less money, “cuts” are raising taxes.

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  5. mizdoolally

    November 28th, 2012

    I’d like to know where they ran to. What country did they defect to?

    If this is true, I am happy for them.

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  6. Left Coast Dan

    November 28th, 2012

    What’s a ‘cut’? I don’t know that I’ve ever seen one. Is it like a unicorn that farts rainbows?

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  7. Last one out turn off the lights

    November 28th, 2012

    I believe TPTB are anticipating a similar exodus.
    Chuck U. Schumer has tabled a bill to heavily tax those leaving the US.
    This was (supposedly) in reaction to news that the co-founder of Fakebook renounced his citizenship and was taking his $2 Billion fortune with him.
    An interesting read from Canada Free Press:
    http://tinyurl.com/d3zlf6h

    Anecdotally, a friend of a friend works for a major bank in Toronto, Canada. The guy said that he’s opening all kinds of new accounts for Americans planning to emigrate.

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  8. Buffoon

    November 28th, 2012

    I wonder where they all went?

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  9. Corona

    November 28th, 2012

    “50p tax rate”
    Should be noted that 50p means 50%, not 50 pence.

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  10. Kairn

    November 28th, 2012

    @mizdoolally
    I agree. That’s the million dollar question-where have they all gone off to?

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  11. Dadof3

    November 28th, 2012

    Is it possible that some dropped off the rolls because they aren’t making as much as before? Maybe on purpose?

    Where is the proof that they actually left? Or is that just an assumption?

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