Bad example - Ratcliffe saved himself billions by moving to a tax-free country - he would have done that whatever our rate of tax. Our media always trot out this same tired line - rich people will leave if asked to pay more. - ThreadSky

dalevince.com • 2 days ago

Bad example - Ratcliffe saved himself billions by moving to a tax-free country - he would have done that whatever our rate of tax.

Our media always trot out this same tired line - rich people will leave if asked to pay more.

Comments

big-cat-diesel.bsky.social•2 days ago

The way I look at it, if they want to leave to avoid paying tax to their country of birth, strip their citizenship.

mrspotterymum.bsky.social•2 days ago

I sat with my financial adviser yesterday and he told me loads of people are going to tax free countries. When Scotland goes Indy we should become a tax haven. Seems a no brainer

mikerobson.bsky.social•2 days ago

Not sure Scotland has the culture or climate to become a new Monaco.

mrspotterymum.bsky.social•2 days ago

Oh I think it has!!!!

mikerobson.bsky.social•2 days ago

No doubt.

clickbaitwizard.bsky.social•2 days ago

Tominey is bought and paid for.

depressedandsick.bsky.social•2 days ago

That's because they're the ones who benefit.

littlealix.bsky.social•2 days ago

But if rich people don't pay their share, who cares if they leave?

dalevince.com•2 days ago

They said the same about VAT on private school fees (Oct budget) - the state sector would be broken by ex private pupils moving to state schools - it didn’t happen and that was a 20% hike (loophole closed).

dalevince.com•2 days ago

People get rich in our country because our tax system gives tax breaks to people with money.

Changing that is not punishing rich people, it’s changing a system that punishes people that have little or no money.

paddywackarts.co.uk•2 days ago

Please give LBC a call before 2pm

They’re spreading nonsense

50swoman.bsky.social•2 days ago

Aye!

#TaxWealthNotWork
>
Support the movement

@garyseconomics.bsky.social

garethbl.bsky.social•2 days ago

This BS is stated as if it’s fact. Yet as far as I am aware there is virtually no conclusive evidence of it happening. There are many countries with higher effective tax rates. Have all their millionaires fucked off to Monaco?

mudandworms.bsky.social•2 days ago

Not once but twice!
Switzerland briefly until he was offered a knighthood, followed by a swift exit to Monaco.
What a guy 🤑

spedley.bsky.social•2 days ago

I don't think taxing individuals is very productive as they can move their wealth, however taxing their sources of income is a definite win. E.g. if we forced Amazon to pay far more tax they can't just leave without also losing the profit.

ryangermann.bsky.social•2 days ago

"Rich people leave..." that part sounds kind-of Utopian.

Seriously. Not just in a "ha ha eat the rich ha ha" way, but a society where super rich simply don't fit in and "self deport" sounds great.

Let's try it for a decade and see how we like it.

fiftieswoman1.bsky.social•2 days ago

The rich stay here but just move all their money offshore and tax exempt.

jamaicain74.bsky.social•2 days ago

Surely if they leave it’s no bad thing as they’re not contributing anyway ?

girlonabrompton.bsky.social•2 days ago

Most of us would help them pack

oxfordjovan1.bsky.social•2 days ago

Someone in the audience said “the richest 1% already pay 60% of the total tax”, this wasn’t corrected by anyone.
They pay 25% of the tax total,
-but have somehow managed to acquire 70% of the total assets.
My advice to billionaires would be give most of it back, before the people take it all back

noelgl.bsky.social•2 days ago

Yes, he left the UK with the current rate of tax. My view FWIW is that if you have a GB passport, but you are not paying UK tax on your income, you should not be allowed to own any part of a football club. Basically create some consequences.

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