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?
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.