Tag: Income tax in Great Britain

Cause and effect 101

Human nature being what it is, when people are told they will be abused and used, they react accordingly. Of course, they are EBIL for doing it:

In the 2009-10 tax year, more than 16,000 people declared an annual income of more than £1 million to HM Revenue and Customs.

This number fell to just 6,000 after Gordon Brown introduced the new 50p top rate of income tax shortly before the last general election.

The figures have been seized upon by the Conservatives to claim that increasing the highest rate of tax actually led to a loss in revenues for the Government.

It is believed that rich Britons moved abroad or took steps to avoid paying the new levy by reducing their taxable incomes.

George Osborne, the Chancellor, announced in the Budget earlier this year that the 50p top rate will be reduced to 45p from next April.

Look, nobody wants to be fleeced. Even what you would consider the not rich guy would get pissed when they are the one targeted by the nanny-staters. For some reason however, and it is well known with collectivists what that reason is, too many of these people have no problem when government tells them they plan to fleece others. Especially if the targets are the people they envy and are jealous of.

Want to know what the lesson here that the left will draw? They need to pass laws that prevent these evil rich sheep from doing things that prevent them from being easy targets. After all, paying more is their obligation! Greedy bastages! How dare they!….

Yeah, sure. In the mean time, the move has ended up costing them money instead of increasing their revenue. Go figure. Who could have predicted that?