Can we get this reproduced by someone not as obviously biased as the "Tax Justice Network"? It's absurd that this organisation's findings would be taken at face value.
I have to ask, did you say the thing at the time the supposed exodus was getting lots of media coverage? I expressed skepticism about it at the time, although I did not pay it too much attention because I don't live int he UK. But any skepticism about such a prediction always incurs a bunch of people insisting I don't understand economics and explanation of how freely the wealthy can flee a high tax jurisdiction.
I notice you don't identify any particular investigative shortcomings or fallacies in the report; you just think it's absurd to even consider the viewpoint of an organization that argues the wealthy are undertaxed.
The original report this article responds to was out put by a company that sells golden passports, and their study involved trawling linkedin. If there are concerns around methodology and bias, then you are absolutely right we should start there
They cite Swiss bank UBS, there’s a table in the footnotes. I’m not convinced about that figure myself but they are responding to the announcement that was put out by UBS.
If they're counting pensions and counting married couples as two millionaires then it's quite easy to come up with a big number. The propaganda on both sides is so easy to write.
> wait, you are deciding they are biased based on their name?
Well, does the name sound unbiased to you? To me, it also looks, based on the name alone, that they have an agenda. Is that a mistake from my side? If so, why?
The article is basically worthless. Wealth follows a power law; saying 90x% of millionaires didn’t move is noise. The very wealthy are in fact moving; they don’t want to be subject to a tax jurisdiction that claims reach on global income. Now, they weren’t paying tax on that income before, so it’s not like it will make a huge impact on UK revenues, but I know that those folks tend to hire local professional services, bankers, etc; we’ll see if they keep doing business with the UK or look elsewhere, like the US. Smart money would be on the US + Dubai right now I think.
Many Brits disagree with you — they’re serious about maintaining / reclaiming their class-based lifestyle in the UK - usually enabled by cheap labor — google “Happy Valley” if you’d like to see the 100 years-ago version of this.
