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Britain’s millionaire exodus
is a wake-up call to Barack
Obama’s high tax America

Telegraph [UK], by Nile Gardiner

Original Article

Posted By:KarenJ1, 11/28/2012 10:15:22 PM

Millionaires and their wealth are not just fleeing Hollande’s France, with its new 90 percent top rate tax. They’ve also been escaping Britain’s 50 percent tax too. As The Telegraph’s Robert Winnett reported earlier today, “almost two-thirds of the country’s million-pound earners disappeared from Britain after the introduction of the 50p top rate of tax.” 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

Comments:
People can write articles like this until they are blue in the face. 0bama doesn´t care what they say because he is doing exactly what he wants to do, to achieve his goal of bringing down the USA. He and the rest of his regime are just getting started and they are gleeful.

      


Post Reply  

Reply 1 - Posted by: veritas, 11/28/2012 10:41:35 PM     (No. 9038622)

FTA: Driving many of the country’s most successful people, as well as their money, out of the United States is sheer economic suicide.

Well, Nile, Stinky´s all fine with that. He´s said he wants high-income people hit harder, not for revenue, but for "fairness" [see income share versus taxes share in article and below]. But he has also said he wants "revenge."

His goal obviously is the end-game you warn of: "a path to decline not renewal."

Be certain to read the indented paragraph that starts: "According to the Congressional Budget Office, the top 1 percent of US earners already pay 22.3 percent of all federal income taxes (based on 2009 figures), even though their share of total income earned is just 13.3 percent." Commit the numbers in that paragraph to memory if you can. Print it and carry it if necessary.

"Fair share" my sitzfleisch.

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Reply 2 - Posted by: Calvinesq, 11/28/2012 10:53:05 PM     (No. 9038629)

Kill off your tax base, and the poor will suffer, the middle class will become the new poor, the moderately well off will suffer and be eventually, despite a tepid resistance, defeated. The rich will move. Question is: After they leave France, then Britain, then the U.S., where will they go?

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R-G1
  
R-VAR_AD


 
Reply 3 - Posted by: Hobbiest, 11/28/2012 11:03:13 PM     (No. 9038639)

Gardiner knows little about taxes. The US has a citizenship based tax system. Most of the rest of the world, including Britain, use a residency based system. A Brit who moves abroad only pays British tax on income sourced in Britain. A US citizen pays US tax on all income no matter where he or she lives and where that income is sourced. If the US citizen also have to pay tax to the nation of residence they get to claim a credit against the US tax.

Thus to avoid high US taxes you have to leave the US, renounce your citizenship AND pay an exit tax. The exit tax assumes you sold everything you own at market value on the date of renunciation.

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Reply 4 - Posted by: veritas, 11/28/2012 11:19:23 PM     (No. 9038657)

#3 identifies a germinating, world-wide cottage industry opportunity.

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Reply 5 - Posted by: TXknitter, 11/28/2012 11:55:45 PM     (No. 9038685)

Niles, Obama knows this. He understands all of this. He intends to cripple the nation. Get it?

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Reply 6 - Posted by: Japanorama, 11/29/2012 12:00:30 AM     (No. 9038687)

The insane do not wake up.

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Reply 7 - Posted by: LadyHen, 11/29/2012 2:49:56 AM     (No. 9038762)

When there are no rich left to eat, who do you think the poor and shiftless will start to devour?

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Reply 8 - Posted by: afherkdriver, 11/29/2012 5:08:34 AM     (No. 9038802)

This was the plan all along.

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Reply 9 - Posted by: Trigger2, 11/29/2012 5:15:10 AM     (No. 9038804)

Barry doesn´t do wake-up calls.

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Reply 10 - Posted by: provide, 11/29/2012 6:29:41 AM     (No. 9038850)

Barry will send government agent to arrest and hold prisoner family members until the tax shruggers return.

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