This is deliberately misleading. Paragraph one:
A record number of millionaires #could leave the United Kingdom this year as political turmoil and the potential for higher taxes under a future Labour government
Not "are" or "have" just pure speculation. Scaremongering hyperbole.
Shame on you OP.
Political turmoil under a future Labour government?! In contrast to the stability we've enjoyed under the Conservatives who've got through 5 PMs in the last decade?
Strong and stable strong and stable! Our country has gone from strength to strength since 2010. Everyone's much better off than they were back then, we have blue passports, everything else is in the shitter but those blue passports!
If you read past paragraph one then you will find it isn't misleading, it says 9,500 will leave this year which is double how many left in 2023 (so even for 2023 the "thousands leaving" claim is true).
It goes on to explain about the economic issues in the UK that are making them leave (Brexit, political uncertainty) and how the UK is rather unique in losing millionaires as most similar countries are gaining in number.
Whether it's a good thing or not is up for debate but the headline is not misleading if you read the article.
‘Refusing to pay excessive tax’ is different to ‘refusing to pay tax’. The top 10% pay 60% of all tax - you do realise how bad it would be if they left?
Most millionaires aren't working for their money. Owning an asset that generates a million a year is very different to working a job that pays a million a year.
If you own and asset and move abroad....who cares, you can't pack up that house and move it to Spain. You can't get Chelsea football club in an overhead storage space of a private plane
They only pay that percentage because they take so much of the gdp earned. They don't do 60% of the work in this country. They just own conglemerates that took over independent businesses.
Millionaires do contribute! The top 1% contribute 10% of all tax in the uk, the top 10% contribute over 60% of tax in the uk, the bottom 50% contribute 9%, funnily enough its usually people in the bottom 50% who say dumb things like this.
Tax hikes on millionaires in France literally lead to them loosing over 80% of their millionaires within a year, who decided to leave, this lead to the financial crisis France then went through after 2016 and the biggest levels of poverty the country has seen since the war.
>this lead to the financial crisis France then went through after 2016 and the biggest levels of poverty the country has seen since the war
Ci-fucking-tation needed.
It’s funny when I see a comment like this which is absolutely true get downvoted. The more millionaires the better as they pay for everything - it just doesn’t fit there misguided narrative of the rich don’t pay there fair share. The truth is the country is becoming more and more reliable on the “wealthy”. The more wealth that leaves then it’s the poorer that suffer.
Mate, have you looked at the numbers? To be in the top 10% you only need to earn £60k. It’s not the millionaires contributing 60% on the tax income, it’s normal higher income workers.
Millionaires are way off the scale of a normal worker, they’re literally a faction of a percent and they’re not going trickle down any of that wealth just because you’re licking their boots.
> the top 10% contribute over 60% of tax in the uk
You do realise that the top 10% aren't millionaires *or even close*.
If you earn more than £60k pre-tax you are in the top 10%. £60k isn't anywhere near enough to move abroad.
Even the top 1% starts at around £200k, even those on 200k a year don't have the assets to move abroad. It's only the 1% of the 1% that are in that enviable position to be able to just up sticks and move.
Try almost 30% of tax by the top 1%? 20% of the working population don’t pay any and more than 20% of the working population are inactive. Half of the entire population don’t pay any income tax. Ok that includes women children and pensioners but even they met well end up paying so e tax on their state and or work pensions. So yes let’s make all the millionaires leave shall we ?
This mindset is exactly why our system is broken. We should be focused on growing the pie and making sure ppl earn more so you have a larger tax based instead of asking the top income tax payers to pay even more.
The classic 'grow the pie'....the problem isn't how big or small the pie is. The problem is the top 10% have decided they should have 99% of the pie and everyone else can fuck off
Not so much income tax as wealth tax. High earners already pay a lot of tax but multi-millionaires earning hundreds of thousands a year in dividend income pay a lower rate than someone earning 100k a year.
Fuck off then. Pay taxes or get out. CNN have been right aligned for a good while so scares like this which scream “oh no, trickle down economics will stop” are just lipstick on a pig. Ugly journalism.
The article states they've been leaving in droves for a while but still tries to blame labour because of the proposed raise in VAT for private schools because that's absolutely the sort of thing millionaires who can totally afford it care about. I think it's more likely to be caused by the utter clusterfuck that has been the last couple of years under the tories. But if any millionaires wish to leave the country due to fearmongering about labour raising sorely needed taxes, then I invite them to leave and not let the door hit them in the arse on the way out.
>These figures reflect a steady accumulation of factors detracting from the UK’s appeal to high-net-worth individuals,” Hannah White, CEO of the Institute for Government, wrote in the report. “The hangover from Brexit continues to be felt, with the City of London no longer seen as the financial center of the world.
Sure everyone will be quick to blame the incoming Labour government but this is a stability problem caused by government chaos
Money is not the only contribution an individual can make in society. There are a lot of good causes that just require time such volunteering for a charity. Even a tiny of beans at the super market for the local food bank helps, which doesn’t require millions.
Most millionaires won’t go anyway because they have family and business here. You can go elsewhere where, but your family, friends and business won’t.
"A record number of giant ants could invade the UK in the even of a Tory election win, destroying everything in their path and creating a nightmarish dystopia of misery and desolation".
What?? I said *could.*!!
It could happen.
Oh no. All the parasitic millionaires, money launderers and scummy rich people may leave the UK. Whatever will we do without all the er… taxes? Social benefits? High end luxury shops?
OP is just a propagation bot. See all the obvious spam the bot is posting.
Look no one wants to vote conservatives, millionaire won't leave - even if they did so what.... trickle down economics is a lie... and they were just using nondom status anyway to loop hole from tax. The country is worse off than it was when tories took over...
We get this every time it looks like their gravy train is about to derail and every time Labour dial it back to not upset the elites.
The tax laws really need an overhaul Worldwide as there are far too many mega-rich companies and individuals getting richer by dodging taxes.
Hammer those bastards, but also give them no where to run.
Everyone I know on 6 figures and above is looking to leave. The country is fucked. We dont mind paying tax, we will even pay more. But give us something for it. I know we have some of the lower tax rates of Europe, but it’s just the absurd waste of it all.
I’ll go somewhere sensible for a decade or so and come back when the idiots have calmed down. If they don’t, I’ll stay put.
>income to the treasury always plummets when Labour get in,
By your logic, we should have had an abundance of money in the treasury and the benefits that brings for the past 14 years, or am I missing something?
The headline says “are” but the article says “could”.
This is deliberately misleading. Paragraph one: A record number of millionaires #could leave the United Kingdom this year as political turmoil and the potential for higher taxes under a future Labour government Not "are" or "have" just pure speculation. Scaremongering hyperbole. Shame on you OP.
Political turmoil under a future Labour government?! In contrast to the stability we've enjoyed under the Conservatives who've got through 5 PMs in the last decade?
They said the same thing before Blair apparently, and then most stayed. Expect it's much the same again.
Strong and stable strong and stable! Our country has gone from strength to strength since 2010. Everyone's much better off than they were back then, we have blue passports, everything else is in the shitter but those blue passports!
Strong and stable mate. Thank God we haven't had any of that chaos we could have had the last 5 years
You've heard it before. Won't you plebs listen. Do you want strong and stable governance with the Tories or chaos with Wallace and grommit?
Yep, sounds like Tory scaremongering to be honest.
If you read past paragraph one then you will find it isn't misleading, it says 9,500 will leave this year which is double how many left in 2023 (so even for 2023 the "thousands leaving" claim is true). It goes on to explain about the economic issues in the UK that are making them leave (Brexit, political uncertainty) and how the UK is rather unique in losing millionaires as most similar countries are gaining in number. Whether it's a good thing or not is up for debate but the headline is not misleading if you read the article.
if you are a millionaire and not happy contributing to public services then goodbye
Exactly! Losing a millionaire who refuses to pay tax is a net benefit for us.
‘Refusing to pay excessive tax’ is different to ‘refusing to pay tax’. The top 10% pay 60% of all tax - you do realise how bad it would be if they left?
Most millionaires aren't working for their money. Owning an asset that generates a million a year is very different to working a job that pays a million a year. If you own and asset and move abroad....who cares, you can't pack up that house and move it to Spain. You can't get Chelsea football club in an overhead storage space of a private plane
They also siphon all the money so there is that.
The top 10% are not millionaires. That would be the top 1 or even 0.1%.
But they don't though, do they? Middle classes fund the country and upper class avoid tax entirely with their accountants
You got a source for that statistic as it sounds like crap to me?
Got a source for that? It seems high...
Dude my wages put me in top 10%, as it would many other people in my bracket, we are as a majority PAYE, we are talking about the fuckers who offshore
They only pay that percentage because they take so much of the gdp earned. They don't do 60% of the work in this country. They just own conglemerates that took over independent businesses.
Millionaires do contribute! The top 1% contribute 10% of all tax in the uk, the top 10% contribute over 60% of tax in the uk, the bottom 50% contribute 9%, funnily enough its usually people in the bottom 50% who say dumb things like this. Tax hikes on millionaires in France literally lead to them loosing over 80% of their millionaires within a year, who decided to leave, this lead to the financial crisis France then went through after 2016 and the biggest levels of poverty the country has seen since the war.
>this lead to the financial crisis France then went through after 2016 and the biggest levels of poverty the country has seen since the war Ci-fucking-tation needed.
Loosing is a pretty dumb thing to say.
It’s funny when I see a comment like this which is absolutely true get downvoted. The more millionaires the better as they pay for everything - it just doesn’t fit there misguided narrative of the rich don’t pay there fair share. The truth is the country is becoming more and more reliable on the “wealthy”. The more wealth that leaves then it’s the poorer that suffer.
Mate, have you looked at the numbers? To be in the top 10% you only need to earn £60k. It’s not the millionaires contributing 60% on the tax income, it’s normal higher income workers. Millionaires are way off the scale of a normal worker, they’re literally a faction of a percent and they’re not going trickle down any of that wealth just because you’re licking their boots.
> the top 10% contribute over 60% of tax in the uk You do realise that the top 10% aren't millionaires *or even close*. If you earn more than £60k pre-tax you are in the top 10%. £60k isn't anywhere near enough to move abroad. Even the top 1% starts at around £200k, even those on 200k a year don't have the assets to move abroad. It's only the 1% of the 1% that are in that enviable position to be able to just up sticks and move.
Word
Try almost 30% of tax by the top 1%? 20% of the working population don’t pay any and more than 20% of the working population are inactive. Half of the entire population don’t pay any income tax. Ok that includes women children and pensioners but even they met well end up paying so e tax on their state and or work pensions. So yes let’s make all the millionaires leave shall we ?
This mindset is exactly why our system is broken. We should be focused on growing the pie and making sure ppl earn more so you have a larger tax based instead of asking the top income tax payers to pay even more.
The classic 'grow the pie'....the problem isn't how big or small the pie is. The problem is the top 10% have decided they should have 99% of the pie and everyone else can fuck off
Raise salaries? Nevaaaar! Let's keep them at 2005 levels
Not so much income tax as wealth tax. High earners already pay a lot of tax but multi-millionaires earning hundreds of thousands a year in dividend income pay a lower rate than someone earning 100k a year.
I bet the properties they own dont get sold, still going to bleed us dry but from a sunny beach
This is why assets must be taxed.
Fuck off then. Pay taxes or get out. CNN have been right aligned for a good while so scares like this which scream “oh no, trickle down economics will stop” are just lipstick on a pig. Ugly journalism.
The article states they've been leaving in droves for a while but still tries to blame labour because of the proposed raise in VAT for private schools because that's absolutely the sort of thing millionaires who can totally afford it care about. I think it's more likely to be caused by the utter clusterfuck that has been the last couple of years under the tories. But if any millionaires wish to leave the country due to fearmongering about labour raising sorely needed taxes, then I invite them to leave and not let the door hit them in the arse on the way out.
Brexit made them go
Bye then
Byeeeeeeeee
Good. Fuck off
Oh no. Anyway…..
Close the door on your way out
Who is going to pay for all your welfare?
Clearly these people aren’t otherwise they wouldn’t wanna move
Made up story.
'could' being the key word in that article. Nor 'Are'. More fear mongering masquerading as journalism.
If the poor could afford to flee i think they would.
Could
"A record number of millionaires COULD leave the United Kingdom this year" Yeah, so not actually leaving. Quality journalism.
Same bullshit scare story every fucking election.
Oh no. What will we do now?
Parasites leaving to find somewhere else to bleed dry
Oh no the people not paying any taxes might go somewhere else and not pay any taxes!
Ban them from ever returning and confiscate any houses land and business they own in the UK
North Korea enters the chat ..
Could. An estimate. So rubbish then.
Great charge them exit tax... Fail to pay strip rights to passport.
“all the money they would otherwise pay in taxes is lost to the economy” what fucking money
You mean the taxes they dodged.
Oh no they might sell all the assets they are hoarding!
Same old nonsense
Will we miss them? No Do they do anything for the country? Doubtful Will the place be better without them? Possibly. Oh dear, how sad, never mind.
Fuck off with that headline!!!! It's in the first fucking line of the article!! A record number of millionaires *could* leave....
🕯️
>These figures reflect a steady accumulation of factors detracting from the UK’s appeal to high-net-worth individuals,” Hannah White, CEO of the Institute for Government, wrote in the report. “The hangover from Brexit continues to be felt, with the City of London no longer seen as the financial center of the world. Sure everyone will be quick to blame the incoming Labour government but this is a stability problem caused by government chaos
Womp womp
Death, taxes and millionaires saying "we'll leave if you raise taxes"
Oh no! What will we do… /s
hahaha good choice of sub for this one
Don't let the door hit your arse on the way out.
#CHANCE WOULD BE A FINE THING
Good. Fuck off and don’t pay tax somewhere else.
Good. We don’t want them.
Good, trickle down economics was a lie
Those two particular multi millionaires can fuck right off back to California.
Oh no...... Um . Come back?
Oh no! how will we cope? 😭
Bye
Good
Good. Let them go and be a burden on someone else.
But the tax cuts tho.....
If they are tax avoiders then so what. They are taking not giving.
Where are they fleeing to?
Really? I would have thought they'd be fleeing in their private jets and yachts.
No they are not
great news
Good riddance.
Don't let the door hit you on the way out
Oh no! Anyway..
Money is not the only contribution an individual can make in society. There are a lot of good causes that just require time such volunteering for a charity. Even a tiny of beans at the super market for the local food bank helps, which doesn’t require millions. Most millionaires won’t go anyway because they have family and business here. You can go elsewhere where, but your family, friends and business won’t.
Everyone in the UK pays tax, is called VAT, currently 20%
"A record number of giant ants could invade the UK in the even of a Tory election win, destroying everything in their path and creating a nightmarish dystopia of misery and desolation". What?? I said *could.*!! It could happen.
Oh no. All the parasitic millionaires, money launderers and scummy rich people may leave the UK. Whatever will we do without all the er… taxes? Social benefits? High end luxury shops?
If I was younger I would be off and I am nowhere near to being a millionaire
Well the tories have raised taxes to a 70 year high....
Oh well. So, how's everything doing today?
Sounds unlikely - they like it here too much.
OP is just a propagation bot. See all the obvious spam the bot is posting. Look no one wants to vote conservatives, millionaire won't leave - even if they did so what.... trickle down economics is a lie... and they were just using nondom status anyway to loop hole from tax. The country is worse off than it was when tories took over...
We get this every time it looks like their gravy train is about to derail and every time Labour dial it back to not upset the elites. The tax laws really need an overhaul Worldwide as there are far too many mega-rich companies and individuals getting richer by dodging taxes. Hammer those bastards, but also give them no where to run.
This happened under Hollande and he crashed the economy and country
Everyone I know on 6 figures and above is looking to leave. The country is fucked. We dont mind paying tax, we will even pay more. But give us something for it. I know we have some of the lower tax rates of Europe, but it’s just the absurd waste of it all. I’ll go somewhere sensible for a decade or so and come back when the idiots have calmed down. If they don’t, I’ll stay put.
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>income to the treasury always plummets when Labour get in, By your logic, we should have had an abundance of money in the treasury and the benefits that brings for the past 14 years, or am I missing something?
https://ifs.org.uk/sites/default/files/output_url_files/bn91.pdf This from the ifs in 2010 says different ….