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Detailed text transcripts for TV channel - FOXNEWS - 20121213:03:53:00 - Vimarsana News

Detailed text transcripts for TV channel - FOXNEWS - 20121213:03:53:00

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...

Detailed text transcripts for TV channel - FOXNEWS - 20121213:06:53:00 - Vimarsana News

Detailed text transcripts for TV channel - FOXNEWS - 20121213:06:53:00

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...