zlacker

>>fortra+(OP)
Does London need the Global Rich hanging around if they’re not willing to pay taxes? Is it necessary to have the tax bring in 30 Billion in order for it to be considered a success? If nothing else, this tax demonstrates to those who DO pay tax, that the Government is willing to treat earners equally and fairly, regardless of how much tax it brings in.

>>mickga+92
If they're here they tend to spend money, and employ people. That all ends up as tax slightly more indirectly.

>>trebli+N3
They don’t need to be there to employ people, and they don’t spend as much as most people do as a portion of their income or wealth.

>>Briggy+25
I'm not claiming they pay as much tax or spend as much as percentage; but they do spend money in the country; it might not be a fair amount etc - but it's a useful amount going into the pot. So if you emphasise fairness they leave and you have less tax to spend on the poor. As long as they're not actively doing bad things, I'd rather have the cash coming into the country.

>>trebli+Ae
If, say, a megarich person who only operated their business in that country left, would the economic system be hurt after the initial shock wore off? They aren’t like doing charity work; in principle it’s either net zero into and out of their companies or producing value by the function of the company, and if the latter then shouldn’t whatever niche they occupied before be quickly filled? I don’t really understand the economic logic, and I’d genuinely appreciate an explanation because maybe I’m just not informed.