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Two thirds of millionaires "left" the UK to avoid 50p tax rate.

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Samuel Smith Posted: Wed, Nov 28 2012 6:49 AM

This should come as no surprise to anybody, here. But a nice article for you guys to store in your "evidence" lockers.



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Bogart replied on Wed, Nov 28 2012 1:29 PM

The results were actually worse, the article said that most of the people who were making the 1 mill did not leave but canged their behavior so they could declare less than the 1 million.  So not only was the Treasury worse off, the populace did not have output that it did previuosly and was therefore worse off after the change.

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Thanks for the share. No surprises here :)

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