British Billionaire equates paying more taxes to 'being raped'

[Cyclone]

4 hours ago, CaptainSwing said:

Raised 260m euros in its first year of operation.  Cancelled due to industrial scale evasion and endless whingeing from the likes of Gerard Depardieu and Emmanuel "Don't call me Manu" Macron.

Which can also be said like this

 

Quote

France forced to drop 75% supertax after meagre returns

It didn't work.  High earners actually DID leave, the returns were paltry and it wasn't worth the political cost.

[Robin-H]

5 hours ago, CaptainSwing said:

Raised 260m euros in its first year of operation.  Cancelled due to industrial scale evasion and endless whingeing from the likes of Gerard Depardieu and Emmanuel "Don't call me Manu" Macron.

Which is exactly the point.. 

 

The returns were significantly less than they estimated, and it dropped to just €160m the following year as more and more people moved their wealth elsewhere to avoid it. Tax avoidance, not evasion. 12,000 millionaires left France in 2016. This was against the backdrop of the budget deficit soaring to  €84.7bn. Compare that to the UK where the top rate was reduced, tax receipts went up, and the deficit shrunk..

[Obelix]

Once again we see the realities of the hard left doing anything to justify punitive measures to hammer people who have done nothing at all other than be successful.

 

It's the politics of envy and a particularly nasty example of the lefts ideology...

1 hour ago, Cyclone said:

Which can also be said like this

 

It didn't work.  High earners actually DID leave, the returns were paltry and it wasn't worth the political cost.

It's almost as if the Laffer curve was a real thing isn't it!

[WiseOwl182]

On 27/04/2019 at 13:13, Halibut said:

Can you smell gammon?

I can smell racist insults.

[WiseOwl182]

On 29/04/2019 at 00:59, CaptainSwing said:

No, it hasn't.

 

Even the Financial Times reckoned that the windfall after Baronet Osborne reduced the top marginal tax rate from 50% to 45% was "largely a result of wealthy taxpayers delaying taking bonuses and dividends until the rate cut took effect", and that the eventual overall effect was "a one-off cost to the Exchequer of £100m-£200m".

 

https://www.ft.com/content/d7cbfec0-dfcb-11e5-b67f-a61732c1d025

 

All those Daily Express-style capitals are a bit of a giveaway, btw.

The capitals were to emphasise what people like you weren't listening to. Tax revenue increased after the top rate cut and has remained higher since.