Article

2012-02-22 Britain

UK - Increased tax rate reduces tax revenues

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Posted by Phil_B 2012-02-22 07:00|| || Front Page|| [4 views ] Top

#1 Just like the millionaire surcharge taxes in a couple states have reduced revenue as people elected to be residents elsewhere. It's not about paying attention to normal human behavior its about feeding the unceasing appetite to 'legally' steal to feed the power and ego of government.

Posted by Procopius2k 2012-02-22 08:46|| 2012-02-22 08:46|| Front Page Top

#2 Well that's a laff(er).

Posted by Whiper Huperese9925 2012-02-22 09:28|| 2012-02-22 09:28|| Front Page Top

#3 That's why Leftists want to outlaw any and all off-shoring of wealth, even though it's legal. They think that that way, citizens will be forced to pay their highest domestic tax rate.

Posted by American Delight 2012-02-22 12:31|| http://moneyjihad.wordpress.com/ 2012-02-22 12:31|| Front Page Top

#4 Vodkapundit:

The Wall Street Journal has uncovered yet more madness in the Presidents tardy budget plan:

Mr. Obama is proposing to raise the dividend tax rate to the higher personal income tax rate of 39.6% that will kick in next year. Add in the planned phase-out of deductions and exemptions, and the rate hits 41%. Then add the 3.8% investment tax surcharge in ObamaCare, and the new dividend tax rate in 2013 would be 44.8%nearly three times todays 15% rate.

Keep in mind that dividends are paid to shareholders only after the corporation pays taxes on its profits. So assuming a maximum 35% corporate tax rate and a 44.8% dividend tax, the total tax on corporate earnings passed through as dividends would be 64.1%.

Posted by Solomon Sninetch2990 2012-02-22 12:59|| 2012-02-22 12:59|| Front Page Top

#5 >They think that that way, citizens will be forced to pay their highest domestic tax rate.

North Korea is closed and their economy still sucks. People just will not be state slaves, even if liberals think it's for their own good.

Posted by Bright Pebbles 2012-02-22 16:57|| 2012-02-22 16:57|| Front Page Top

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