Wednesday, November 28, 2012

In Case You Ever Wondered Why 
Communists Built Walls Around Their
Countries & Shot People That Tried
To Leave..............

Now You'll Know. 

2/3rds Of Millionaires In Britain Have Left The Country

Well like that last line says, there go those stupid Conservatives again, drawing conclusions from this that no reasonable persons would make.  

Oh and here's a Conservative MP making the the usual ABSURD argument that raising the tax rates actually cost England 7 billion pounds in lost revenue: 

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."
Socialism: If You Build It, They WILL Leave......well, as long as there's no walls and nobody gets shot, that is.  

UPDATE:  Daniel Mitchell at the International Liberty blog asks if Obama's gonna learn anything from Britain's Laffer Curve Mistake:

A funny thing often happens on the way to soaking the rich: They don’t stick around for the bath. Take Britain, where Her Majesty’s Revenue and Customs service reports that the number of taxpayers declaring £1 million a year in income fell by more than 60% in fiscal 2010-2011 from the year before. That was the year that millionaires became liable for the 50% income-tax rate that Gordon Brown’s government introduced in its final days in 2010, up from the previous 40% rate.
Lo, the total number of millionaire tax filers plunged to 6,000 in 2010-2011, from 16,000 in 2009-2010. The new tax was meant to raise about £2.5 billion more revenue. So much for that. In 2009-2010 British millionaires contributed about £13.4 billion to the public coffers, or just under 9% of the total tax liability of all taxpayers that year. At the 50% rate, the shrunken pool yielded £6.5 billion, or about 4.4%.
Like I said - and like the commentor below refused to address - they claimed they were raising the rate to 50% to raise 2.5 billion more pounds in tax revenue yet they ended up actually collecting SIX AND A HALF BILLION POUNDS LESS at the higher rate than they had the year before when it was 40%.

Not only did they NOT get the new revenue they said they wanted, they now ended up with a net loss over 6.5 billion pounds.

Now, will Obama learn anything from England's huge mistake?  I'm gonna have to go with 'no', he won't learn anything.  He'll just find someone else to blame when the tax revenue actually drops after the tax rates are hiked.  But that's OK.  Let's say it all together now:  for the Left jacking up the tax rates ISN'T about getting more revenue for the Gov't to spend, it's about FAIRNESS & wealth redistribution.

So even though it's becoming increasingly clear in England that they've passed the revenue maximizing point on the Laffer Curve, expect to see the socialists over there claim the solution to declining tax revenue from the millionaires is to.......jack the rates up further.

Watch.  That's exactly what they'll do.  And then learning nothing from this, expect to see the socialists over here follow the same stupid policies.


  1. Hey, what do you know? - It's bullshit. And the Obama=Communist thing is about as relevant and accurate as your astute poll analysis.

    1. So they didn't leave, they just legally shifted their money around and avoided paying the higher rate, and tax revenues dropped from the previous year by over 7 billion pounds.

      Awesome work there. Thanks for the clarification.

    2. Also I made no reference to Obama = Communism in that post, but thanks for bringing it up. It is kinda obvious, isn't it?

    3. My suggestion to politicians in England is to fix this by raising the tax rate EVEN HIGHER. They're SURE to recoup that lost 7 billion pounds plus gain new revenue, right?

      Because the idea that rich people will alter their behavior when you raise their taxes too high, that's just something stupid wingnutz believe.

      Do it, England!

    4. Yeah, you're still wrong. rather than face reality - stay the incredibly delusional course!

    5. Nothing wrong about the fact stupid socialists in England jacked up tax rates & now have to explain why all that new $$$ that was supposed to come rolling in didn't show up. In fact, they suffered a net loss of $7 billion pounds from that income group.

      It's hilarious. And entertaining. Don't you think?

      I hope Obama's taking notes.

    6. Taking it out on the middle working class has also proven super effective in Europe. They'll be coming over the walls of these Goldman Sachs fuckers soon enough.

      Just wait until Obama and the Republicans fail and real austerity measures come full-fledged to the U.S.- JF

  2. And yeah, the Obama=Communism thing is pretty obvious since you and your loser lie manufacturers have been beating that drum to a decisive landslide fail forever now.

    You're actually getting worse. The butthurt has moved into your very soul.

    1. Well since Obama's about to learn the same painful lesson England's socialists never do, it IS pretty timely. Just like them, he's gonna have to come up with an explanation to the country after the rates go up and the revenue drops.

  3. Ha-ha! You could have learned something from your humiliation and zero track record on everything, but I think it's awesome that you're going to double down on your spoon-fed propaganda regurgitation. You need to bring it back to RT so we can all enjoy pointing out your various delusions.

    1. Do you grasp why England ended up with 7 billion fewer pounds after they raised the tax rates?

      I haven't seen one thing in your responses that indicates you know why they achieved this result.

      Mocking a point a person is making and demonstrating it's untrue are two different things.

  4. The story's garbage.

    1. So you don't know why those tax increases targeted at the top earners actually produced $7 billion less in revenue?