One-in-four hedge fund employees has already left London to move to Switzerland, which is said to have a more stable tax regime, according to consultancy Kinetic partners. Calculations by the company claim the UK could have already forgone about £500m in tax revenues, based on the 1,000 or so hedge fund managers it says have already left the country. …High-profile departures this year include Alan Howard, founder of Brevan Howard, and Mike Platt, founder of BlueCrest Capital.
Archive for October 8th, 2010
Posted in Big Government, Brain drain, Class warfare, Competitiveness, David Cameron, England, Gordon Brown, Government Spending, Laffer Curve, Tax Competition, United Kingdom, tagged Big Government, Brain drain, Class warfare, David Cameron, England, Government Spending, Laffer Curve, Tax Competition, United Kingdom on October 8, 2010 | 16 Comments »
To protect the nation’s air travelers, federal air marshals deployed after the 2001 terrorist attacks try to travel incognito, often in pairs, and choose flights identified with the potential to fall under threat. And they almost always fly first class—something some airlines would like to change. With cockpit doors fortified and a history of attackers choosing coach seats, some airline executives and security experts question whether the first-class practice is really necessary—or even a good idea. It could weaken security by isolating marshals or making them easier for terrorists to identify, airline executives say. With more threats in the coach cabin now, first-class clustering may not make as much security sense. Security experts say bombers are a bigger threat today than knife-wielding attackers trying to get through secure cockpit doors, and Transportation Security Administration checkpoints are heavily focused on explosives, whether hidden in shoes, liquids or under clothes. Some believe bombers try to target areas over the wing—a structurally critical location and also the site of fuel storage—to cause the most damage to the aircraft. …By law, airlines must provide seats to marshals at no cost in any cabin requested. With first-class and business-class seats in particular, the revenue loss to airlines can be substantial because they can’t sell last-minute tickets or upgrades, and travelers sometimes get bumped to the back or lose out on upgrade opportunities. When travelers do get bumped, airlines are barred from divulging why the first-class seat was unexpectedly taken away.
Posted in Big Government, Debt, Deficit, Fiscal Policy, Government Spending, Higher Taxes, Obama, Spending, Tax Increase, Taxation, tagged Big Government, Debt, Deficits, Government Spending, Higher Taxes, Obama, Spending, Tax Increases, Taxation on October 8, 2010 | 1 Comment »
Posted in Big Government, Economics, Jobs, Keynes, Keynesian, Obama, stimulus, Unemployment, tagged Big Government, Joblessness, Jobs, Keynesian Economics, Obama, stimulus, Unemployment on October 8, 2010 | 4 Comments »
The new unemployment data has been released and it’s not a pretty picture. Literally and figuratively. This image is all we need to know about the success of President Obama’s big-government policies. The lower line is from a White House report in early 2009 and it shows the level of unemployment the Administration said we would have if the so-called stimulus was adopted. The darker dots show the actual monthly unemployment rate. At what point will the beltway politicians concede that making government bigger is not a recipe for prosperity?
They say the definition of insanity is doing the same thing over and over again while expecting a different result. The Obama White House imposed an $800-billion plus faux stimulus on the economy (actually more than $1 trillion if additional interest costs are included). They’ve also passed all sorts of additional legislation, most of which have been referred to as jobs bills. Yet the unemployment situation is stagnant and the economy is far weaker than is normally the case when pulling out of a downturn.
But don’t worry, Nancy Pelosi said that unemployment benefits are stimulative!