There’s a long-believed attitude in venture capital where they believe the reason why there are so few British billionaires is because many people will have a great idea, cash out, and then sit on their wealth once they’ve accumulated enough for a fancy lifestyle for their family. In America, the attitude is towards being a serial entrepreneur, where one success leads from another.
It’s a long-winded way of saying that to many UK businesses, they probably don’t give a fuck if some millionaires decide to fuck off. Get rid of the fancy property they own in Devon/Cornwall, sell their London property, and tell them to GTFO. They’re probably barely paying any tax, barely contributing to local economies, and are just a drain on the system.
Time to install an “Exit Tax” like the US uses.
“If it cannot, it risks losing much of the invaluable investment, tax revenue, and entrepreneurial spirit that they contribute.”
Ah yes, because the rich are truly the most generous class of them all…
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They invest in initiatives designed to make them more money, or to reduce what they pay in taxes.
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They pay the bare minimum possible taxes after playing around with so many loopholes it would make your brain hurt.
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And who could forget that entrepreneurial spirit!
It’s the same trickle-down economics argument as always. If the rich leave because they’re actually being made to pay their way, the economy would disintegrate because we’d lose businesses like “Arton Capital” that…
“empowers high net worth individuals and families to become global citizens by investing in a second residence or citizenship”
What a tragedy it would be to lose businesses like these! /s
Also, is it not slightly biased to have the person the majority of your article about millionaires wanting to leave the UK quotes be the CEO of this company above who makes their money helping millionaires leave the UK?
That’d be like me getting an ice-cream man to discuss people wanting more ice-cream during the summer. Like even if it was true, you couldn’t have picked a less biased source?
Seriously I don’t get how parts of the world havent realized they literally don’t contribute other than to the direct pockets of the ruling class and that’s about it.
Like if all the wealthiest fucked off to their secret apocalypse bunkers we could pretty much just get back on with living as if nothing changed, cause there is nothing we need from them.
They aren’t growing the food.
Or writing the stories.
Or building machines.
Or helping the sick.
Or going to space.
Or transportation of their own products. Or servicing the country they live in.They simply mooch their existence off the work of everyone else, which is why they are desperate to replace the workers with robots or cheap slave labor. So that no one can question then and why they are the only people that matter. As long as they feel every other job can be replaced but theirs because they have a bank account filled with everyone else’s money.
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