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    1. supergodmasterforce on

      I think the real worry by those claiming the „Super Rich“ will leave the UK is actually a worry that their biggest donors and financiers will leave the UK and gravy train will cease to run.

    2. WonderingOctopus on

      What’s telling is that the top earners have increased their wealth by unprecedented amounts in the last ten years.

      So really what we are seeing is all the profits being accumulated by the wealthy, and then not being redistributed back into the system.

      Unless there is something to stop all the wealth becoming concentrated with only the top minority, things will continue to get worse.

    3. Exciting-Sir-1515 on

      Not even the super rich

      The £100k crowd are looking elsewhere. That’s the big issue.

    4. FionaRulesTheWorld on

      I don’t know why anyone ever believed this. It’s not like the super rich just have all their cash in an account and moving out of the country would be as easy as selling the house and getting on a plane.

    5. As a country we shouldn’t be so beholden to the interests of those who are only here because they get to avoid contributing to our public services.

      Maybe some of them will leave – maybe even all of them will – but if they do that just shows they don’t actually care about the country they currently live in so why should we try to appease them?

    6. Its not just the super rich. The normal average young person is looking abroad. I know so many, in our family and friends group, 18-15 year olds who are in the process of actively looking to leave. Other European and commonwealth countries are far more appealing and have a much better quality of life and future prospects.

    7. One thing I don’t like about the Greens is that this is a serious issue they dismiss. Super rich don’t pay as much tax as they are suppose to, but they still pay a lot of tax. If we increase taxes on them too much, they will just leave and we won’t get anything.

      This is why I’m in favour of a land value and luxury goods tax. This way, even if you move, you want a fancy flat in central London with a Ferrari. You have to pay tax on it you can’t really avoid.

      There is a reason sweeping wealth taxes on residents doesn’t exist in many countries, because it doesn’t raise a lot of money and makes people leave.

    8. bathrugbysufferer on

      People are utterly brainwashed. You live in a £3m house, will have to pay £2,500 a year in extra council tax, and you’re leaving the UK because you’re angry with the government?

      If super rich people are serious about this good luck to them

    9. appletinicyclone on

      Just shows how much momentum Zach has got by doing three things

      Saying actually some of us in the country don’t blame the world’s problems on immigration

      That affordability is the biggest worry people have they’re seeing the cost shift dramatically for their foods

      And that a wealth tax to claw back some of the funny money during covid that popped up for the wealthiest is probably a good way to help everyone that’s in work rather than stealth taxes by freezing income rates even as inflation costs rise a lot and outpace meager wage rises

      That’s why he keeps getting headlines now. Because someone needed to occupy that left populist space and not be a bigot

    10. Was listening to an accountant on the radio who deals with the „Super Rich“ when pressed it turned out it was „Love Islanders“ and „Influencers“ all wanting to move to Dubai and Cypress.

    11. Aspect-Unusual on

      Where are the vocal crowed who moan about migrants sending money out lf the country? When they do its really bad for us but when the super rich English guy does it becomes „yeah good for them, stick it to the government“

    12. GhostRiders on

      Ask France how it went for them.

      They introduced a „Wealth Tax“ in 2012. They introduced a 75% income tax on earnings over €1 million.

      They dropped in 2014.

      Some left, many just found work arounds.

      In 2013 it raised an extra €260 million and €160 million in 2014.

    13. We should just give them a statue and seize their assets. Congrats you won capitalism, here’s a statue to commemorate your achievement, thanks for our wealth back.

    14. Glad someone is saying it.

      Cause yeah if your living an incredibly comfortable life, with social groups, your family, kids in a good school, membership at soho House, ect are you gonna give up it all up for slug and lettuce Dubai. No you’ve built that wealth so you can enjoy that life. 

      Sure a few folk might actually have their brains broken and pull their kid away from their friends and pals, for no material difference to their life, but that’s not the majority.

      The reality is most expats to low tax countries are course sellers in rented audis and estate agents who are LinkedIn pilled.

      Heck the big example: Herman narula, who’s been all over the papers, isn’t leaving because the UK isn’t a good place to do business: it’s that after a lot of UK govt funds and tax breaks all he has to show for it is half a billion dollars in losses and a company that’s been dying since a failed pivot to crypto.

    15. orangecloud_0 on

      Same with the apparent exodus in Spain of the super rich but it never happened

    16. If these people who have gotten ridiculously richer over the past ten years would rather leave the uk than pay their fair share (not that they are taxed enough) then it just proves to me that they are traitors

    17. Environmental_Move38 on

      The bigger issue is the group between 18 and 45.

      Couple hundred thousand. Brain drain.

      I will in the next ten years leave too.

    18. The wealthiest people in this country have already contributed far more to public finances than the average man ever will. Polanski has likely never made a meaningful fiscal contribution himself (though his parents probably have). The resentment towards wealthy people in this country is so pathetic — and I say that as someone who isn’t doing very well financially. The government have made a mess of the economy, not the rich.

    19. His defence of why they won’t leave is absurd: „most of the time you can’t just pick up an asset and move.“

      The vast, vast majority of the ultra rich’s assets are in things that are very easy to move, whether that’s stocks or money in a bank.

      Most of them *won’t* leave because so long as they are making a net profit it’s not worth the cost of pulling out, they’ll just spend elsewhere in the future.

      But his argument is worryingly out of touch with actual reality, for a group that holds wealth taxes as a core principle. This isn’t the 1900s. The ultrarich don’t usually directly own or control mining interests or factories that are in a fixed location anymore.

    20. ImpracticalJerker on

      Where will the billionaires move to? Do they really want to uproot their entire lives just to not pay a bit more tax? Surely that would cost them more than just staying? Surely they won’t be as happy living somewhere that doesn’t have English as a first language?

    21. Has anyone actually got a Super Tax that could work?

      When you get past a certain level of wealth, one assumes you’ll have tax and wealth management to keep a grip on it as fiercely as possible.

      I’d be less concerned about them upping sticks and moving and more concerned with „will it consistently work and generate the revenue it was designed to get?“

      Of course, we should definitely try *something* rather than being total wet blankets about it but, seemingly, that’s not Labour, certainly not Reform or Tories and Greens, as much as people want them to have power, I don’t think will be able to pull it off due to FPTP.

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