this post was submitted on 09 Oct 2024
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UK Politics

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General Discussion for politics in the UK.
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Seems like propaganda for the super rich.

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[–] quixotic120 10 points 1 month ago

This is one of the issues with the obscenely rich that isn’t as discussed. Here in the USA in New Jersey there was a single man that left the state. there was an uproar because he was one of the wealthiest in the state and there was a genuine concern on the impact of the state budget. The exact dollar amount wasn’t disclosed because it’s confidential in nj but he returned a few years later and there were statements that he contributed about 120-140 million in taxes. The state collected 31.5 billion in taxes in 2016 (the year he left)

So he alone made up almost a half a percent of the entire state revenue in the state with the 7th highest tax revenues in the country. That’s an immense amount of power. When it happened people were wondering if nj would extend deals to keep him. They didn’t, but it’s not crazy to think somewhere would in that scenario when they’re looking at a 9 figure loss that could make up a noticeable percentage of their budget. If he had left Wyoming or South Dakota that slight less than half a percent of the budget could’ve been more like 4-5% or more