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Re:UK: Food inflation rises to 18.2% as it hits highest rate... by prox on Friday March 24, 2023 @01:47PM (#35292882)
Tax the rich and they go somewhere else (see recent discussions about the wealth tax in France)
Re:UK: Food inflation rises to 18.2% as it hits highest rate... by ambicapter on Friday March 24, 2023 @02:40PM (#35293630)
What is the negative outcome of this?
Re:UK: Food inflation rises to 18.2% as it hits highest rate... by prewett on Friday March 24, 2023 @03:00PM (#35293897)
Have you ever been employed by someone poor? (And I don't mean a middle manager spending someone else' money)

The rich have historically funded the arts (e.g. patronage), public buildings, public institutions (e.g. Carnegie's libraries).

Useful businesses that require high capital are difficult to get going if no one has any capital.

Re:UK: Food inflation rises to 18.2% as it hits highest rate... by amrocha on Friday March 24, 2023 @03:21PM (#35294161)
Government has funded those things way more, but when a rich person runs a museum it's "philanthropy", when the government does it it's a "waste of taxpayer money".

There's no reason the government couldn't fully fund those things instead.

In fact, "businesses that require high capital" are almost always funded by the government. It's called infrastructure spending.

Re:UK: Food inflation rises to 18.2% as it hits highest rate... by ambicapter on Friday March 24, 2023 @03:23PM (#35294189)
Rich people moving to Bermuda doesn't mean they move their company incorporation there, just means they have a house there and fly in and out.
Re:UK: Food inflation rises to 18.2% as it hits highest rate... by ezst on Friday March 24, 2023 @01:57PM (#35293032)
> Tax the rich and they go somewhere else (see recent discussions about the wealth tax in France)

Let them go, then, the earlier the better and threat them as pariah. What good do you expect to gain from them at that rate?

Re:UK: Food inflation rises to 18.2% as it hits highest rate... by mcntsh on Friday March 24, 2023 @03:46PM (#35294460)
In NYC for example, 40% of the tax revenue comes from 1% of the tax payers[1]. High taxes are causing high earners to leave the city. What's going to fill that gap in revenue?

I'm not sure how it is in France though.

[1]: https://www.bloomberg.com/news/articles/2022-12-14/new-york-...

Re:UK: Food inflation rises to 18.2% as it hits highest rate... by pydry on Friday March 24, 2023 @08:40PM (#35297738)
Cristobal Young and Charles Varner did a study “Millionaire Migration and State Taxation of Top Incomes” and found that when taxes were jacked up on New Jersey residents they tended to stay despite low tax states (e.g. Connecticut) being quite close.
Re:UK: Food inflation rises to 18.2% as it hits highest rate... by isaacremuant on Friday March 24, 2023 @02:06PM (#35293176)
And what's good of having high GDP like Ireland (neighbour to UK) if then there's no housing and prices are insane and people who don't already have a secure situation are screwed and have to leave anyway?

Why do tax reliefs and strategies always benefit the big companies with lots of lawyers.

Lower the taxes of the common folk. Their interests are not being met, but those of the lobbyists.

Re:UK: Food inflation rises to 18.2% as it hits highest rate... by pydry on Friday March 24, 2023 @01:53PM (#35292978)
The wealthy in the UK are largely landed gentry. They can't flee with their property and if they sell it off at firesale prices to ordinary folk to avoid being taxed that would largely solve the housing crisis.

The problem wouldn't be that they would leave. The problem would be that they would stay and become violent.

Re:UK: Food inflation rises to 18.2% as it hits highest rate... by NovemberWhiskey on Friday March 24, 2023 @01:58PM (#35293063)
https://www.thetimes.co.uk/sunday-times-rich-list

Eyeballing this, only 11 of the top 50 richest people in the UK have property as their source of wealth.

Re:UK: Food inflation rises to 18.2% as it hits highest rate... by ambicapter on Friday March 24, 2023 @03:24PM (#35294206)
"only"? That's >20%.
Re:UK: Food inflation rises to 18.2% as it hits highest rate... by pydry on Friday March 24, 2023 @08:08PM (#35297427)
Not really sure I'd call the "Hinduja" family wealth "British" although what wealth they do have in the UK is undoubtedly in property.

There's quite a number of very rich foreigners who economically have very little effect on the UK apart from monopolizing scarce inner city property.

Re:UK: Food inflation rises to 18.2% as it hits highest rate... by ChuckNorris89 on Friday March 24, 2023 @02:29PM (#35293496)
>The problem would be that they would stay and become violen

So? Let them be violent. What are they gonna do? They don't have guns like in 'Merica.

They're dangerous not because they'll be violent (they won't be), but because they hold missive political leverage.

Re:UK: Food inflation rises to 18.2% as it hits highest rate... by pg_1234 on Friday March 24, 2023 @02:26PM (#35293450)
Or, for a really simple solution, tax the land.

Not the structure built on it (well ... not much ... and you can often just tax that through the resources it consumes).

Not only are you taxing the asset that can't flee the country, and which the poor typically don't own, you also incentivise efficient land usage (it becomes too expensive to be a NIMBY).

Re:UK: Food inflation rises to 18.2% as it hits highest rate... by amrocha on Friday March 24, 2023 @03:11PM (#35294037)
They can leave if they want, as long as they pay an exit tax. But personally I think that's bullshit, they'd rather be less rich in France than more rich in Romania.

And if you're talking about companies leaving France, then that's flimsy too. French citizens are among the richest in the world. International companies will pay higher taxes to access that market, and if they don't that's fine, a domestic company can step in or the government can snap up the productive capacity to invest in infrastructure.

Re:UK: Food inflation rises to 18.2% as it hits highest rate... by jodrellblank on Friday March 24, 2023 @03:40PM (#35294389)
Good? It's not like they're using that money to enrich the country they live in or the other people or society, they're not building hospitals and funding schools anymore or employing people or raising wages. They're buying assets and becoming landlords and lobbying politicians and making things worse. Not just 'let them go', get rid of them, let them be somewhere else's problem.