Quote:
Originally Posted by Taf
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No.
The people who earn that sort of money are generally also the sort of people who would as easily reside in New York as in London. If you make the tax regime hostile, they flee it. The result is, you don't get to tax any of their income, and they spend less of their wealth in your economy.
High tax regimes *do* *not* *work* beyond the short term because they reduce the amount of money in the economy, thus slowing growth, thus depriving everyone else.