Posted on 04/23/2011 9:42:19 AM PDT by Stoat
A study by of 1,000 people with more than £250,000 in savings and investments found 35pc may move abroad because of high tax rates, while 44pc blamed the weather and 43pc want to avoid antisocial behaviour.
Recent changes in tax rules have proved controversial for many Britons, including a combination of the 50pc income tax rate on those earning more than £150,000, increases in national insurance and a reduction in personal allowances.
(edit)
“Many high earners are concerned about what they perceive as the tax increases that followed the financial crisis. Despite good recent developments, there are still many countries around which high earners believe offer more favourable tax regimes and importantly, a higher quality of life.”
(edit)
The survey suggested that of the 36pc who would like to move abroad, 14pc said they are likely to leave in the next two years.
(edit)
(Excerpt) Read more at telegraph.co.uk ...
(edit)
| Mid-market rates: 2011-04-23 16:16 UTC | ||
| 250,000.00 GBP | = | 412,907.50 USD |
| British Pound | US Dollar | |
| 1 GBP = 1.65163 USD | 1 USD = 0.605462 GBP | |
XE (GBP-USD) British Pound to US Dollar Rate
There are A LOT of people with 'savings and investments' of well over $413,000. here in the USA as well as the UK, particularly when you consider real estate holdings. For the article to imply that these numbers represent some small cadre of 'high earners' really misses the mark in my view. :
“We are not expecting a mass exodus,” said Nicholas Boys Smith, managing director of Lloyds TSB International Wealth, “but, regrettably, many wealthy people are dissatisfied with life in the UK and are considering leaving.
“Many high earners are concerned about what they perceive as the tax increases that followed the financial crisis. Despite good recent developments, there are still many countries around which high earners believe offer more favourable tax regimes and importantly, a higher quality of life.”
Mr. Boys Smith attempts to play down the significance of this to some extent but I would suggest that this survey represents a far more 'average' set of people than what's being implied.
We're seeing this in the USA as well, where a wide demographic of people are increasingly leaving high-tax and high-crime areas.
I'd suggest that anybody associated with the Taxed Enough Already party movement is going to have views very similar to the 'high earners' cited in this article.
“thought you might be interested” ping.
The RICH ARE DISAPPEARING. They and their truly high incomes are going fast ~ to places with low or no taxes and cheap and very available armed body guards.
(Don't know where that would be but that's where the RICH are).
The tax burden still has to be met so it's being parceled out to those of more modest incomes ~ and they, too, are talking about going somewhere else.
This is the Internet Economy. You don't need to go to THAT OFFICE anymore. Vanatu awaits!
This could be cured very easy. A flat tax or national sales tax would do it. Everyone taxed the same percentage and SHAZAM the “poor” would no longer be just takers and the super wealthy would not have loopholes to escape paying the full amount. See, an easy solution to a complex problem. But first eliminate all forms of income tax. That would be a little harder.
In England if you rob a home and get caught you get a stipend for life and an award.
If you defend your home, you go to jail.
You don’t have to be a “high earner” to leave the UK, or America for that matter.
I left the UK 25 years ago with under a 1,000 dollars, and haven’t looked back ( that doesn’t mean I don’t love my country, or my family).
It will never happen. It would be to easy for the producers to go on a “strike” by not spending. It is very hard for the average Joe to stop working in protest.
Shrugging and moving..
Sounds like a wise plan for anybody who is fed up with the kind of socialism the Democrats want for America.
I left 20 years ago, I checked on one of those friends re-united web sites and about 1/4 of the people i knew on it had left the UK as well.
Coming soon to the US. Costa Rica is booming.
Once they destroy the healthcare system, no reason to live here.
The mother country is as sunk as the titanic.
It’s going to be a pretty skunky country when all that’s left are muslims.
The UK is leading the way for the descent of the West into the abyss of destruction with America trailing right behind them.
About 15 years ago I was urging my wife to emigrate to Panama. Great weather, low cost of living, modern infrastructure, English speaking, like Yanks due to long presence in the Zone, no downsides, really.
Nope, she wouldn't leave while grandkids were still in school.
In the interim, thousands of 'pensionados' have moved there and prices have rocketed up. Still cheaper, but we sure missed that boat.
That will change.
well it comes as no surprise that record emigration levels are happening.
I left and know may others vets who left after they saw what they had been fighting for.
My Nieces both are having kids and when I asked them do you have a mobile phone they both replied no they have no money and when I asked why have a baby then they both replied “well the Govt gives us more money”
Neither work, neither have had a job, one has a lay about boyfriend and the other not and yet they both moan they want more money off the govt.
I have a pal from primary school who I recently talked to and he now has 5 degrees and is looking to get out of England and move eleswhere due to high taxes and him busting his arse like mad only for the Govt to take his money and give out to the likes of my Nieces .
Govt health care and that conversation here I;ve had with many and still these dopes think over here that Govt health care is good even when I have told them the waiting lists, lack of care, having babies in hallways etc
The left are just complete dopes they would rather do failed polices because their messiah tells them so backed b the biased media.
It was St Georges day the other day and and the BBC mentions more about muslims holidays like Eid than the patron saint of England, that just sums up how biased and disgusting the media are
yes the rich leave but the problem is that they leave their liberal crap holes and the move to the likes of my state FL where they are so dumb they still vote as they did back up north thus making their new state look like the old state liberal high tax, go spend crap hole.
It’s high time that if those who want to move to FL, NC, VA, CO, AZ, understand that we like our life, we like how it is run and we don’t want it changing to look like their crap hole up north or out west like CA.
I left after leaving the service and wanted the American dream, you know work hard etc now this place is looking nearly like the place where I left and there is only a handful back in England who wants to stay.
Many vets have left for Australia and Canada but mostly OZ and NZ as it’s hard for a hard working white Christian normal straight male to get into this country now.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.