SMILING CARCASS'S TWO-PENNETH

Commenting on social, political, economic and general topics

Seems Like Basic Maths To Me

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The top 20 earners, earning millions of pounds a year are avoiding tax with various loopholes and only paying 10% income tax; George Osborne drops the top rate of tax from 50% to 45%, claiming this higher rate of tax raises ‘next to nothing’ and damages the economy then feigns disgust at this terrible abuse of the system.

I have news for Mr Osborne; if the top earners are avoiding income tax and only paying 10%, of course the higher rate of tax raises little. Close the loopholes then see if a 50% tax rate is effective.

Admittedly I am no economist; it does, however seem like quite basic maths to me.

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Written by Smiling Carcass

10/04/2012 at 3:26 PM

Posted in Economy, Politics

Tagged with , , ,

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