UK Exodus of Millionaires Highlights Concerns Over Labour’s Tax Policies

[James105]

4 minutes ago, Chomper Higgot said:

The most effective way to address growing wealth inequality is to reverse ‘trickle down economics’.

 

 

So your problem is with capitalism?  Any suggestions of which successful communist/socialist country the west should try to emulate to deal with this problem?  Note: Sweden / Denmark / Norway are not and continue not be socialist countries.  

 

Or perhaps the problem is with your perception and the diet of misinformation you consume.  In every conceivable metric (despite some rich people getting richer) living standards have risen, people are living longer and poverty has decreased.  People living today have higher living standards than people who lived 50/100/200/500 years ago.  How do you explain that?     

[KhunHeineken]

22 minutes ago, James105 said:

Lets say 50% of them do and then that removes 15% of the tax income for the country. 

Most millionaires pay no tax.  They hide behind trusts, companies etc, etc.  All legal, but at the end of the day, and many other countries are the same, the wealthy do not pay their fair share.   

[PomPolo]

20 minutes ago, proton said:

The trouble with socialism is that you eventually you run out of other peoples money- The last decent PM we had

This is my favourite and the most accurate post in the Topic!

[KhunHeineken]

14 minutes ago, James105 said:

In every conceivable metric (despite some rich people getting richer) living standards have risen, people are living longer and poverty has decreased.  People living today have higher living standards than people who lived 50/100/200/500 years ago.  How do you explain that?

Advances in technology, and medical treatments.  Also, generous welfare systems. 

 

50 years ago, if you didn't work you would starve to death.  Now, the government pays you to be unproductive, and who picks up the bill, not the rich, it's the middle class who work hard and struggle to pay the bills.   

[PomPolo]

Why did the socialist refuse to play Monopoly?
Because every time they passed "Go" they had to give away their $200 until the bank went bust!

[Nick Carter icp]

2 hours ago, MalcolmB said:

I left last year.

Heavy taxes were not the reason.

Heavy women with bad attitudes and the depressing weather were the main reasons.

Thailand gives me a better lifestyle in nearly every way

 

  How does that fit in with thread topic ?

[Nick Carter icp]

1 hour ago, KhunHeineken said:

Most millionaires pay no tax.  .   

Provide a Link please 

[Chomper Higgot]

9 hours ago, proton said:

The trouble with socialism is that you eventually you run out of other peoples money- The last decent PM we had

The trouble with trickle down economics is eventually all the money ends up with a tiny hyper wealthy minority while the majority are left fighting over scraps as society falls apart.

 

Privatized profits, socialized costs.

 

It’s happening now in real time.

[BritManToo]

10 hours ago, MalcolmB said:

I left last year.

Heavy taxes were not the reason.

Heavy women with bad attitudes and the depressing weather were the main reasons.

Thailand gives me a better lifestyle in nearly every way

But you're from Australia!

I thought the Oz weather was quite good?

[Chomper Higgot]

10 hours ago, James105 said:

 

So your problem is with capitalism?  Any suggestions of which successful communist/socialist country the west should try to emulate to deal with this problem?  Note: Sweden / Denmark / Norway are not and continue not be socialist countries.  

 

Or perhaps the problem is with your perception and the diet of misinformation you consume.  In every conceivable metric (despite some rich people getting richer) living standards have risen, people are living longer and poverty has decreased.  People living today have higher living standards than people who lived 50/100/200/500 years ago.  How do you explain that?     

No my problem is with neoliberalism and trickle down economics. 
 

In the post war period capitalism  delivered consistent improvements in the life and welfare of working people, massively expanded the middle class and delivered consistent economic growth.

 

All that came to an end in the late 1970s with the arrival of Neoliberalism and trickle down economics, deliver by Regan and Thatcher.

 

Since then the welfare of working people has been on a consistent decline as the wealth and benefits built up in the post war period have been stripped out and handed to the hyper wealthy.

 

Accelerating wealth distribution to the benefit of the rich and collapsing public services, withdrawn work place benefits for the majority and the growth of the precariat.

 

So no, I have no problem with capitalism, refer my remarks on its post war period version, I am however not blind to the consequences of neoliberalism and trickle down economics.

 

For the record:

 

Living standards are falling and life expectancy is falling dramatically in poor areas.

 

https://www.independent.co.uk/news/uk/politics/uk-living-standards-fall-longest-60-years-records-began-economy-household-incomes-costs-energy-resolution-foundation-a8071146.html

 

https://www.bmj.com/content/377/bmj.o1056

[Chomper Higgot]

9 hours ago, KhunHeineken said:

Most millionaires pay no tax.  They hide behind trusts, companies etc, etc.  All legal, but at the end of the day, and many other countries are the same, the wealthy do not pay their fair share.   

I don’t think it’s correct to say most millionaires pay no tax, but the range of tax avoidance schemes available to the rich provide ample opportunity for taxes to be massively reduced.

 

Buying farms to avoid inheritance tax is an example.

[Chomper Higgot]

9 hours ago, PomPolo said:

This is my favourite and the most accurate post in the Topic!

I suggest focusing on not running out of your own money, or at least keeping an emergency reserve sufficient to pay your airfare home.

 

10 hours ago, PomPolo said:

Fair play yes income support, however I have no income in Thailand only my savings I have paid taxes all my life, who would be first in line to get money me, someone crossing the channel or a chav with 6 illegitimate children?

 

[JonnyF]

10 hours ago, Chomper Higgot said:

The most effective way to address growing wealth inequality is to reverse ‘trickle down economics’.

 

 

 

The UK is not ready for your communist utopia. 

[Chomper Higgot]

3 minutes ago, JonnyF said:

 

The UK is not ready for your communist utopia. 

I’m not surprised, I don’t have a ‘communist utopia’ you made that up.

 

 

[Chomper Higgot]

I wonder what the doomsters will make of this:

 

https://www.theguardian.com/business/2025/jan/20/uk-second-most-attractive-country-for-investment-survey-finds