Darling's Tax Idiocy

British Chancellor of the Exchequer Alistair Darling has implemented a 50% income tax on all earnings above £150,000. He admits quite openly that there's "no science" behind his decision. But economics IS a science, and both the scientific and historical evidence is overwhelmingly clear: a decision like this will hurt everyone, not just the very rich.

Even the Chancellors own hack 'yes men' at the Treasury estimate that this scheme will result in 69% of the people who would otherwise be directly affected by this new tax increase finding a way of not paying it. And that's their generous estimation, so you can bet your bottom dollar (or your bottom overly taxed pound) that it will be much more than that.

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Category:

News & Politics

Tags:

• income
• tax
• 50%
• Alistair
• Darling
• Treasury
• supply
• side
• economics
• government
• revenues
• libertarianism
• freedom
• entrepreneurs
• entrepreneur
• free
• market
• wealth
• social
• mobility
• consumers
• poverty

[MrAaronKeen]

It's ridiculous how they can justify 50 percent of a hard workers money.

They don't even thank you for it!