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Friday, August 23, 2013

Tax them & they'll run away !!!

Did you know almost two thirds of  Britain's  million-pound earners disappeared from the country after the  introduction of the 50 % top rate of tax ? Who can blame them? One they could afford it, two who in their right mind wants to pay more tax, especially not the very rich!  


In the 2009-10 tax year, more than 16,000 people declared an annual income of more than £1 million to HM Revenue and Customs. This number fell to just 6,000 after Gordon Brown introduced the new 50 % top rate of income tax shortly before the last general election. ... 

It is believed that rich Britons moved abroad or took steps to avoid paying the new levy by reducing their taxable incomes. Experts said  Labor's ideological tax hike led to a tax cull of millionaires. Far from raising funds, it actually cost the UK £7 billion in lost tax revenue !

Interesting isn't it? The rich don't pay tax! But are we really that surprise...lol????

2 comments:

  1. That's how the rich gets richer !

    ReplyDelete
  2. It's an open secret, the rich actually pay very little taxes. Only those in the middle do !!!!

    ReplyDelete