boris johnson (erstwhile mayor of london) claims 9000 bankers will leave london because of a) 50% tax, b) tax on bonuses.
So where will they go? certainly not china or india, who wouldn;t have them, and probably not america now that Barack Obama is thinking of introducing the same thing
(see NY Times today) or gernany or france where merckl and sarkozy both think Brown's tax is not such a bad idea at all
I like this - the banks thought they could get away from national regulation by being global - they forgot the G7/8/30/blah are global too - we can follow you, anywhere, even through solid air.
taxes on stupidity really need to be made more coherent too, though - we need to tax people who run large miliatry budgets, and tax exports from regions running (real) piracy
I can see a whole new emergence of control by the "outland revenue service" (ORS:)
tracking down miscreants (a bit like Al Capone, jailed in the end for tax evasion rather than just being a gangster
after all, what is the difference between organized crime and merchant banking?
(that's a rhetorical question, btw, but if you want me to answer it, the answer is