You are BROKE when the government taxes you 100%
The number of U.S. citizens in Britain fell 3.8 percent to 126,000 in the 12 months through September, according to the Office for National Statistics. The trend probably continued this year, with the Confederation of British Industry estimating the U.K. financial industry will lose about 45,000 jobs in the first nine months of 2009, or 4.3 percent of the total.
Americans are heading home as Britain plans a 50 percent tax rate for those who earn more than 150,000 pounds ($248,000) a year and employers cut benefits for workers living abroad, reducing the allure of London. That comes a year after the U.K. said foreigners who have lived in the country for more than seven years must pay 30,000 pounds annually or give up the special status that shields overseas income from British taxes.
50% and 30K Pounds( over $50K)......getting closer
Seriously.....which one do you think will get confiscated first.....bank accounts, IRAs, or 401Ks?
You can only goose profits by buying distressed debt and funding pensions with over valued stock while firing/wage slashing employees for so long. Pretty soon, few are working and even fewer are customers....and that debt you purchased at a perceived discount....it's probably worthless after few are selling much of anything.
For a good example of what happens as revenues evaporate....take a look at commercial real estate.
Somebody has to pay taxes.....or else government must own everything.....who is going to maintain the soverign? If they it can conscript your kids to phsyically protect the nation, it can convert your accounts/money to economically protect the nation.
You guys must think I am kidding don't you.....prepare....9.09 is soon here......I warned you we have to restructure.