Of course the right will argue that higher taxes
will just lead to higher rates of avoidance or the
flight of talent. Research by theWork Foundation
busts the latter myth.60
Interesting. What\’s that research then?
This.
So, is it a paper about the effect of marginal tax rates on effort? On the temptations of income shifting? Maybe it\’s about how many Brits work abroad? Or the number of entrepreneurs who offshore their fortunes? All would at least be relevant to the question at hand. Perhaps it\’s about hedge fund managers or private equity shifting to Geneva?
Actually, no, it\’s the rather banal observation that 86% of FTSE CEO\’s are British citizens.
This is not what is normally thought of as \”busting the myth\”.
In fact, it\’s damn near irrelevant.
Well, I’m still a British citizen and I haven’t paid a penny in tax to the Inland Revenue for nearly twenty years. What I’ve paid to the Reciever of Revenue in Pretoria on the other hand is a completely different matter.
Maybe Ritchie should support the LVT (and get rid of harmful taxes), it’s the only impossible-to-avoid paying tax.
“Maybe Ritchie should support the LVT (and get rid of harmful taxes), it’s the only impossible-to-avoid paying tax.”
…maybe because if you have a 380K house (2006 value) without a mortgage (according to the Land Registry) it might cost you more than your income from working for TJN and Compass!
So Ritchie’s a parasitic Rent-seeker then.
Not a surprise.
You’ve missed his point- The state own that 86%, they’re mere slaves and must do as they’re told
[…] point he makes in his report is: Of course the right will argue that higher taxes will just lead to higher rates of avoidance or […]