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UK 50% top tax rate results in lower revenue

UK 50% top tax rate results in lower revenue. Seems the UK’s ~~raaaaacists~~ capitalists are expending more effort avoiding taxes (like docking their yachts in “Road Island”?) instead of making money. Who knew? Well, Obama did. In 2008, he said it wasn’t about revenue, it was about “fairness”. Class warriors don’t care if everybody gets poorer as long as nobody gets richer.

This post was last modified on April 12, 2021

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Bonfire of the Absurdities: After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.

View Comments (1)

SSDD says:

February 22, 2012 at 8:49 am

I don't blame the wealthy Brits for doing whatever they can to avoid this outrageous tax. It's nothing but government sanctioned theft. As for Barry thinking this kind of thing would be fair here, what would be fair is either everybody pays income tax or nobody pays income tax. Nearly half our population pays no Federal Income tax. I believe the Fair tax is the way to go.