Was surprised at this

poppy10_2

steadysaver wrote: »

The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.

Balls. This is the argument put forward by so many of the London-based fatcat squillionaires to explain why they should be paying less tax than the rest of us.

First of all, they don't pay tax at all, if they can help it. They have access to expensive accountants and shady off-shore tax havens which the rest of us don't. So they're already paying less than they should.

Secondly, the idea that if we make them pay their fair share, they will run off. Where would they go? Britain already has the most favourable tax regime for the super-rich of any developed country, prompting the IMF to describe it as a 'tax haven' for the wealthy. So they would have to go to actually live in one of those shady offshore places, and forgo their beloved London restaurants and theatres. It wouldn't happen.

No, the real reason taxes are kept low for the wealthy is because they donate money to the major political parties. It's a quid pro quo that's not going to change, so there's no point in railing about it. But don't pretend that it's for legitimate reasons.

lostinrates

poppy10 wrote: »

Where would they go? Britain already has the most favourable tax regime for the super-rich of any developed country, prompting the IMF to describe it as a 'tax haven' for the wealthy. So they would have to go to actually live in one of those shady offshore places, and forgo their beloved London restaurants and theatres. It wouldn't happen.

.

I agree wholeheartedly with yoyur point about tax avoidance, but I do believe they woud go. Lets face it, those that are that rich can afford to fly in if they REALLY want to shop/eat/theatre in London. They can also take even that spending away and eat/shop/theatre as well in a pethora of other places.

If its the rich rather than the super rich, well they'd probably be split because there might not be the same flexibilty in working pattern and so they would be stuck.

I guess the question is where rich becomes super rich.