April 26, 2009

Econ 202: Individual Behavior

The last thing this country needs is a pirate raid on the wealth creators who still dare navigate our stormy waters

The opinion polls have uttered. The country loves the new 50 per cent top rate of income tax. Soak the rich. Smash the bankers.

...He says that he is young enough to set up shop somewhere else. The new tax rates were the final straw. These talented young people know they will make it impossible for them to educate their kids privately in the UK.

So Britain plc loses not just the 40 per cent he would have paid in personal taxes under the old regime - plus NI and everything else - but... Come on, I don't need to explain the knock-on effect. It's obviously huge and immensely damaging...

Read the whole thing and remember, capital flight includes human capital. We compete world-wide as a nation not just for financial capital and industrial production but also for top talent--in ALL fields.

Even Andrew Effing Lloyd Webber gets it.

UPDATE: Michael Caine provides an example.

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