The rich may pack up and leave the UK

[Morpheous]

UK government have just raised tax from the already too high 40% on income btween £37,000pa - £100,000pa; to 45% for those on income upto £100,000pa !!!

They have also raised tax to 50% for those earning over £1500,000!!!

This will worsen the UK already weakened economy as the rich will pack their bags and go where the tax breaks are more forgiving on their pockets - loss of more jobs and investments will be the result.

In the G20 thread I told you guys britain had nothing to offer or sell whilst hosting G20 meeting. In that meeting the british governmenmt concluded and came clean and said they have no money what so ever to put into the global push to solve the international financial crisis. Bank of england and the tresury confirmed this. Now the rich will flee with their money.

[Yuriatin]

Re: Rich may pack up and leave the UK

Where will they be going?

[Morpheous]

Re: Rich may pack up and leave the UK

While the the recession is global the rich could be attracted to go to developing countries.

[LiteBlonde]

Re: Rich may pack up and leave the UK

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Yuri_</div><div class="ubbcode-body">Where will they be going? </div></div>

The Australian guy who works here just read this post and said, &quot;I sure hope they don't plan to be hightailing to Australia&quot;, the South African said, &quot;better there than my town&quot;.

[Morpheous]

Re: Rich may pack up and leave the UK

<span style="font-weight: bold">News:</span>

http://news.bbc.co.uk/2/hi/uk_news/politics/8011321.stm

<span style="font-weight: bold">Twitter:</span>

http://search.twitter.com/search?q=uk+tax+rise

[RichD]

Re: Rich may pack up and leave the UK

so you think the is the tipping point the mobile rich had been waiting for?

who will feel this is the &quot;middle income&quot; earner who does not have the option of moving.

[Morpheous]

Re: Rich may pack up and leave the UK

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: DotCom</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Yuri_</div><div class="ubbcode-body">Where will they be going? </div></div>

The Australian guy who works here just read this post and said, &quot;I sure hope they don't plan to be hightailing to Australia&quot;, the South African said, &quot;better there than my town&quot;.

</div></div>

many chattering on Twitter right now that they gonna pack their bags and leave britain caw everyting mash up nung.

[Morpheous]

Re: Rich may pack up and leave the UK

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">so you think the is the tipping point the mobile rich had been waiting for?

who will feel this is the &quot;middle income&quot; earner who does not have the option of moving. </div></div>
Yep fi dem free paper bunn. The middle classes always pick up the tax but this time the uk government went for the rich due to the recession saying fiddem pocket deeper and can tekk di lick butt as we all know... rich man nagguh just let government help demself tuh their money so dem will find a way fi punish the government for their actions. No investments, moving companies/businesses overseas, moving money to over seas banks, job losses dem have so many weapons.

[RichD]

Re: Rich may pack up and leave the UK

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: More4us</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">so you think the is the tipping point the mobile rich had been waiting for?

who will feel this is the &quot;middle income&quot; earner who does not have the option of moving. </div></div>
Yep fi dem free paper bunn. The middle classes always pick the tax but this time the uk government went for the rich due to the recession saying fiddem pocket deeper and can tekk di kick butt as we all know... rich man nagguh just let government help demself tuh their money so dem will find a way fi punish the government for their actions. No investments, moving companies/businesses overseas, moving money to over seas banks, job losses dem have so many weapons. </div></div> so they were willing to give up 40/45% but now 50% is jus too much ..im not buying it ..it think those who feel that way were long gone (well at least their money was long gone)

[Morpheous]

Re: Rich may pack up and leave the UK

LOL. There is also the element of psychology too.

$2.99 or $3.00
$9,599 or $9,600

40% or 50% (not 40%/45%) - 45% and 50% are the new tax rise. The maximum before was 40%.

The effect is the same some people cannot stomach giving half their income to the government - last straw on the camel back and all a dat perhaps.

[LiteBlonde]

Re: Rich may pack up and leave the UK



They told me to say <span style="font-weight: bold">&quot;No worries mate, they won't be moving too far away from the good old pint in a British Pub. Furthermore, where else can you go for a pint over breakfast, lunch and dinner...in the office canteen? we are just taking the P&quot;.</span>


[/b]

[RichD]

Re: Rich may pack up and leave the UK

maybe ...but im wagering that the ones who are really going to be up in arms are the one who can do little about it.

Take a man making 300K..this might mean a extra 20K in taxes is he going to quit his job and leave the country? even if he does there willbe others lined up to take it.

[Morpheous]

Re: Rich may pack up and leave the UK

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: DotCom</div><div class="ubbcode-body">

They told me to say <span style="font-weight: bold">&quot;No worries mate, they won't be moving too far away from the good old pint in a British Pub. Furthermore, where else can you go for a pint over breakfast, lunch and dinner...in the office canteen? we are just taking the P&quot;.</span>


[/b] </div></div>

LOL maybe so but the rich has always found ways not to pay all their taxes. This time with the recession the government wants to close all loop holes if possible including disclosure of off-shore accounts from the banks themselves! This is another simmering issue set to explode in the future.

[Morpheous]

Re: Rich may pack up and leave the UK

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body"> maybe ...but im wagering that the ones who are really going to be up in arms are the one who can do little about it.

Take a man making 300K..this might mean a extra 20K in taxes is he going to quit his job and leave the country? even if he does there willbe others lined up to take it.</div></div>
I agree with you here but I am talking about those that can opt and leave the employers and entrepreneurs.

The high net contractors who can use this as an excuse to leave. It can cause a brain drain effect too. Not all will leave but those who can would.

[RichD]

Re: Rich may pack up and leave the UK

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: More4us</div><div class="ubbcode-body">
I agree with you here but I am talking about the those that can opt and leave the employers and Entrepreneurs.

The high net contractors who can use this as an excuse to leave. it can cause a brain drain effect too. Not all will leave but those who can would. </div></div>

im still not buying it ...as you said the rich have already found ways to avoid paying taxes...they will pass ont hsi increase to the consumer..investors will still invest if there is a dollar to be made (well now that dollar will only be 95cents )