Recent discussions regarding an apparent exodus of super-rich individuals from Britain have drawn responses, with some suggesting that the departure of billionaires may not be detrimental. One perspective argues that capitalism has historically performed better without the super-rich, citing post-war decades when high income tax rates coincided with a 'golden age of capitalism'.
This view contrasts the current situation with periods when top income tax rates were reportedly 80% or 90%. It is suggested that the super-rich can become 'wealth extractors', acquiring assets and thereby increasing their cost for others, with housing given as an example.
Another response focuses on the perceived influence of the super-rich. It suggests that the ability of billionaires to threaten departure highlights their power to potentially hold an entire country 'hostage'. This perspective questions why a country might feel it cannot afford to lose its billionaires while others face impoverishment.