The marxist/socialist idea of 'robbing the rich to give to the poor' [as mooted apparently by Robin Hood] is utterly facile. Let us leave aside the dubious morality of taking from - indeed robbing - somebody who has more than someone else and let's look at the reality.Harold Wilson's government tried Supertax and this ran at an immoral 98 pence in the pound!
Unsurprisingly, the super rich chose not to pay this and instead moved their money abroad as well as undertaking serious DISinvestment in the UK. Today, this can be achieved much more simply in the computer age.
It is a fact of taxation - passed on personally to me by a taxation expert - that the higher the taxes are, the lower the amounts collected become.
An additional factor, is that the higher the taxation level, the more incentives you offer to 'the black economy' and 'cash-in-hand businesses' to cheat the rest of us.
New Labour has learned not to attack the wealthy, the entrepreneurs and the wealth creators whom we so desperately need as a nation.
Unfortunately,their being unwilling to restrict their absurd amounts of public spending, their support of bureaucracy and their love of the EU and quangos - the amounts of taxation required are astronomically high.
If the wealthy are cossetted - then it is the middle and working classes who are on PAYE who must make up the shortfall.
Welcome to the Mickey Mouse World of Gordon Brown economics. UKIP want to embrace the 'flat tax system' which would at least make taxation transparent and considerably fairer WITHOUT the disadvantages.
LINK: http://www.ukip.org/ukip/index.php?option=com_content&task=view&id=49&Itemid=41
