Rich alcoholic smokers should pay the most tax!
It finally happened. The super rich workers in the UK earning £150 000 or more are going to be taxed 50% from April 2010. How sorry I feel for these “poor” rich people…..NOT!
For many years now it seems the rich have gotten richer because they are able to stash their cash into foreign bank accounts where tax is a lot less than the UK, or they hide behind loop holes that prevent them from paying high tax. It is always the middle man (the not so rich nor not so poor man) that seems to end up being screwed by the tax man and every other stealth tax under the sun.
The problem with the announcement today is that a lot of wealthy talented foreign people living and working in the UK will simply up sticks and leave to avoid paying the high tax, which means the country as a whole will lose out on exceptional talent. One has to accept that good talented people cost money and in most cases deserve their huge salaries, but where does one draw the line?
No one likes paying taxes, but it should be fair, and currently I believe the rich are not paying their fair share.
On top of all that, if one takes all the top traders, managers, directors and CEO’s of these doomed hedge funds, investment banks, and banks, why should they get away with screwing up the banking system and not paying for their bad decisions and judgements calls?
On another positive note I see they are increasing the tax on cigarettes and alcohol. Hit them where it hurts the most I say!
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