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Basically, they had 16,000 filers who paid taxes on $1 million in income or higher. one year later, after they raised the rate from 40% to 50%, they had only 6 thousand. 16,000 it to6 ,000, a 60% reduction. they saw the lost tax revenue was $7 billion euros. so that is a key pound -- pounds in britain. that's a key loss. it shows how part of the people leaving the country. i don't think that millionaires are leaving america. we are americans. but you can do things to your income to look like you are not making a million dollars. >> greta: look at google, perfectly lawferl. they did tax avoidan...

A fancy way to say it -- >> to the tune of $45 million a month foritous buy up our own treasury stocks. the argument is about $85 billion per year. when you put it thatn that context and understand that revenues have increased in the united states of america by 10% and spending by the for the government has increased 16% and we have a federal government spending 25s% of our gross domestic product, this is not a revenue issue, this is a spending issue. i think what we need to do is come up with the right type of legislation to solve this thing, keep these tax rates where they are and then if we...

Irveltion this is weird. they voted for it but they don't like it. a tax on a medical device. but now, 17 democratic -- yes, democratic senators are urging a delay impel elementing this tax. but get this -- they voted for obamacare and the tax. we have a representative here. so what's the problem here? >> you know, it's very interesting because they voted for t. now they want to delay implementation. in their letter, they specifically say they want to keep jobs and they don't want to hurt the economy at this time. i think that's very interesting that they are making these acknowledgements at t...

Latest updates on this topic from reliable sources.

Latest updates on this topic from reliable sources.