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Britain’s 50% top tax rate results in lower overall revenue

by on February 22, 2012

Europe’s socialist monetary policies are failing. We can learn from their mistakes by continuing with capitalism. Capital belongs in the hands of the people. The people have the innovation and the ingenuity to deliver goods and services to the marketplace better than any government ever could. Further, our Constitution enumerates the powers of the Federal Government to keep them in their box and out of our bank accounts.

The prospect of higher taxation on pensions comes as savers complain that low interest rates and quantitative easing have pushed down returns on savings and pensions.

Charlie Bean, the deputy governor of the Bank of England, last night insisted that those people should accept the pain as the price of restoring the wider economy to health.

The Confederation of British Industry, in its Budget submission today, urges ministers not introduce new levies on the rich, warning that the UK “will become a less attractive location for entrepreneurs and key employees”.

http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/9097219/50p-tax-rate-failing-to-boost-revenues.html

From → Taxes, Wealth

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