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Two-thirds of millionaires left Britain to avoid 50p tax rate

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This is from The U.K.Telegraph.

The millionaires in the U.K.Said screw you to new taxes.

How many millionaires in America will say the same?

We will see millions of jobs lost as result of the tax hikes.

 

Almost two-thirds of the country’s million-pound earners disappeared from Britain after the introduction of the 50p top rate of tax, figures have disclosed.

n the 2009-10 tax year, more than 16,000 people declared an annual income of more than £1 million to HM Revenue and Customs.

This number fell to just 6,000 after Gordon Brown introduced the new 50p top rate of income tax shortly before the last general election.

The figures have been seized upon by the Conservatives to claim that increasing the highest rate of tax actually led to a loss in revenues for the Government.

It is believed that rich Britons moved abroad or took steps to avoid paying the new levy by reducing their taxable incomes.

George Osborne, the Chancellor, announced in the Budget earlier this year that the 50p top rate will be reduced to 45p from next April.

Since the announcement, the number of people declaring annual incomes of more than £1 million has risen to 10,000.

However, the number of million-pound earners is still far below the level recorded even at the height of the recession and financial crisis.

Last night, Harriet Baldwin, the Conservative MP who uncovered the latest figures, said: “Labour’s ideological tax hike led to a tax cull of millionaires.

Far from raising funds, it actually cost the UK £7 billion in lost tax revenue.

“Labour now needs to admit that their policies resulted in millionaires paying less tax and come clean about whether they would reintroduce this failed policy if they were in power.”

Mr Osborne argued earlier this year that the 50p rate was deterring entrepreneurs from coming to Britain.

The Chancellor wanted to scrap the top rate altogether for those earning more than £150,000 a year – and return to the previous system of a basic and top rate of tax.

This was blocked by the Liberal Democrats without a new mansion tax being introduced.

Labour will hold a parliamentary debate today to criticise the decision to reduce the top rate, which Ed Miliband, the Labour leader, has described as a “tax cut for millionaires”.

Senior Coalition figures are locked in negotiations over next Wednesday’s Autumn Statement which will set out government tax policies for next year.

The Tories wish to freeze out-of-work benefits. The handouts usually rise in line with inflation, which has meant that the unemployed are likely to receive a higher rise than most workers can expect.

It is understood that the Lib Dems will only allow the benefits freeze if taxes on the rich are increased.

The Lib Dems have long cherished an increase in taxes for multi-million pound properties. David Cameron has ruled out changes to council tax.

 

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Hitler’s Youth Alive in England. Is U.S. Next?

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This is from Godfather Politics.

It is already happening here.

Obama has set up websites to report comments about him.

During the reign of Adolf Hitler, his regime formed the Nazi Youth.  Besides indoctrinating them with his fascist ideas, Germany’s youth were taught to report anything and everything about their family, friends and neighbors.  Many kids turned their parents, siblings and best friends in to the Gestapo.  Families, friendships and neighborhoods were torn asunder due to the youth programs and using them to spy on the nation.

A recent report out of Great Britain reveals that school kids are being encouraged to turn in anyone that has not paid their taxes or who in general are not paying their way in society.  If the children learned of anyone, including their own parents, who had not paid their taxes, they were to report it to their teacher who in turn would notify the authorities.

H.M. Revenue and Customs is the equivalent of our Internal Revenue Service.  They have developed an educational module to be used in secondary schools.  This just happens to be the same age group that Hitler’s Youth targeted.  The modules include videos, facts, games and quizzes to “help make teaching financial capacity and citizenship issues relevant and engaging”.

In one particular module, geared for ages 14-16, it teaches the students to “Discuss whether it is good to pay the tax we do, considering the benefits we receive. If it is good, then why do people try not to pay?”The teacher is then instructed to teach about tax evasion in which the students are asked if they know about any incidents of tax evasion in their neighborhoods.

HMRC officials claim that they are not using the program to collect information on possible tax evaders, but a number of people have questioned their denial.  In the eyes of many, the module has similarities to how the Hitler Youth convinced teenagers to inform on those around them.

In some ways, America’s public school system already uses students to report on their families and friends in a number of areas.  I recall hearing from one parent who had the police and child services show up at the door one day.  Her son had told a friend that his mom beat him every day when he got home.  Before the matter could be cleared up, her son and daughter were removed from her house and placed in a foster home.  The mom was charged with child abuse.

After nearly a month, it turns out that her son and his friend were talking about playing basketball and the son told the friend that he and his mom played every day when he got home from school and she beats him every time.  Another student overheard part of the conversation and then reported it to the teacher who in turn reported it to authorities.

Seventy years ago, the Americans were appalled when they learned about Hitler’s Youth and how they were used to spy on family, friends and neighbors.  Seventy years later, the same principle is being taught in the schools of Great Britain and here in the United States.  Why aren’t we appalled this time?  Because as a society, we have fallen that far into moral decay.

 

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