pueyo.qmd

---
title: "taxation vs millionaire migration"
format: html
embed-resources: true
---

First graph of <https://unchartedterritories.tomaspueyo.com/p/geohistory-magazine-part-1-2025-q4>  
Data extracted from graph with claude.ai  
How much of income is kept (non-taxed):
```{r, taxation}
#| code-fold: true
kept <- read.csv(comment.char="#", text="Country,left_after_taxes
Italy,40.7
Slovenia,40.8
France,41.4
Sweden,45.5
Portugal,45.7
Austria,46.8
Greece,48.3
Spain,49.0
Slovakia,49.4
Finland,50.6
Poland,51.5
Belgium,51.7
Norway,52.5
Germany,53.1
Croatia,54.5
Latvia,54.6
Turkey,55.6
Estonia,56.1
Czech Republic,56.4
Netherlands,56.7
Romania,57.2
Lithuania,58.3
Hungary,59.0
Denmark,59.3
Luxembourg,59.8
Moldova,61.7
Montenegro,62.8
Cyprus,64.0
Serbia,64.8
Ireland,65.0
UK,69.6 # manually shortened country name
Ukraine,70.2
Malta,72.3
Albania,73.7
Switzerland,74.4
Bulgaria,79.6")
```

3rd graph, millionaires migrating:
```{r, migration}
#| code-fold: true
migrate <- read.csv(text="Country,millionaire_migration,Category
UAE,9800,Attracting
USA,7500,Attracting
Italy,3600,Attracting
Switzerland,3000,Attracting
Saudi Arabia,2400,Attracting
Singapore,1600,Attracting
Portugal,1400,Attracting
Greece,1200,Attracting
Canada,1000,Attracting
Australia,1000,Attracting
Hong Kong,800,Attracting
Japan,600,Attracting
Malta,500,Attracting
Thailand,450,Attracting
Costa Rica,350,Attracting
Panama,300,Attracting
Cyprus,250,Attracting
Monaco,200,Attracting
Cayman Islands,200,Attracting
New Zealand,150,Attracting
Montenegro,150,Attracting
Netherlands,100,Attracting
Latvia,100,Attracting
Morocco,100,Attracting
Mauritius,100,Attracting
Austria,50,Attracting
Croatia,50,Attracting
Bermuda,50,Attracting
Belgium,50,Attracting
Hungary,50,Attracting
Seychelles,50,Attracting
Sweden,-50,Losing
Philippines,-50,Losing
Angola,-50,Losing
Türkiye,-100,Losing
Taiwan,-100,Losing
Ireland,-100,Losing
Argentina,-100,Losing
Pakistan,-100,Losing
Egypt,-100,Losing
Norway,-150,Losing
Mexico,-150,Losing
Colombia,-150,Losing
Lebanon,-200,Losing
Iran,-200,Losing
Nigeria,-200,Losing
Indonesia,-250,Losing
S. Africa,-250,Losing
Vietnam,-300,Losing
Israel,-350,Losing
Germany,-400,Losing
Spain,-500,Losing
France,-800,Losing
Brazil,-1200,Losing
Russia,-1500,Losing
S. Korea,-2400,Losing
India,-3500,Losing
China,-7800,Losing
UK,-16500,Losing
")
```

correlation between the two
```{r, figure, warning=FALSE}
merged <- merge(kept, migrate, all=TRUE)
plot(merged[,2:3], col="blue")
m <- merged[merged$Country %in% c("UK", "Switzerland", "Italy", "Portugal"),]
text(m$left_after_taxes, m$millionaire_migration, m$Country, adj=-0.1,col="blue")
```

Even though the UK is on the lower taxation end in this data (70% of income kept), it loses millionaires.
Some higher taxed countries, like Italy and Portugal, still have an influx of millionaires.

Taxation does not seem to repel millionares so far.