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              Former Prime Minister Gordon Brown arrives at the High Court with his wife Sarah to give evidence at the Leveson Inquiry, London, Monday, June 11, 2012. Former UK prime minister Gordon Brown and current Treasury chief George Osbourne give evidence at Britain

As UK millionaires flee country over tax hikes, British treasury loses billions

Photo of David Martosko
David Martosko
Executive Editor

“It is also an illusion to believe that high earners in America do not contribute enough money to the coffers of the federal government. … [W]hat Obama refers to as ‘the wealthiest Americans’ already pay more than their ‘fair share’ in taxes.”

Gardiner cited Congressional Budget Office numbers showing that “the top 1 percent of US earners already pay 22.3 percent of all federal income taxes (based on 2009 figures), even though their share of total income earned is just 13.3 percent.”