Wednesday 28 November 2012

How we now worship wealth and wealth creators more than fairness

http://www.telegraph.co.uk/news/politics/9707029/Two-thirds-of-millionaires-left-Britain-to-avoid-50p-tax-rate.html

This article discusses how when Labour introduced the 50p tax for the wealthy, the number of people who declared their income over £1m dropped from 16,000 to 6,000.

The article shows no evidence that these people left the country, but that is the conclusion drawn.

Mmmm....what other options are open to people to reduce their tax liability, other than leaving the country?

The underlying current in this article and in the Conservatives, and worryingly in Labour, is that wealth is all that matters.

We seem to have a hieracrchy of the system :

Wealth : Creators : Powerful : Influential : Less TAX

Poor : Least Influential : Fairness : More TAX : Less benefits.

The ideology is "What do we need to do to increase GDP and keep wealth creators in our country". 

If it is true that some 10,000 millionaires left the UK because of the 50p tax rate, perhaps this is right? And perhaps it says something good about the 6,000 who did stay?

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