FTSE 100
Dow Jones

Monday, 27 January 2014

The wheels on the bus go round and round

So Ed balls wants to put up the top rate of tax to 50%.  I don't have to much of an issue with that.  The purpose of taxation is to pluck the maximum amount of feathers from the goose with the minimum of hissing, and as has often been pointed out, democracy is a discussion between two foxes and a goose about what to have for dinner.

But if we are going to have a tax rate of 50% for any income over £150,000, there seems to be little point in paying *anybody* working for the government or the NHS or local government or any quango or or the BBC more than £150,000 if half of the extra just disappears back into the government's coffers.  You might just as well triple their pay and tax them at 85%.

Actually, there's an idea.  All government paid salaries above £150,000 get taxed at 100%..........

No comments: