Economy

The problem with living in a rich man’s world | Letters

David Redshaw and Fernando Quintana respond to reports of a billionaire exodus from Britain The idea that the departure of the super-rich is a problem ignores a historical fact ( Apparent exodus of super-rich suggests UK is no longer billionaires’ playground, 7 October ). Capitalism works better without them. The most successful countries today are states where redistributive taxation has empowered the working masses and provided a better and more stable market for business people. How do today’s complaining uber-rich explain the postwar decades, when the top rate of income tax was commonly 80