For the whole of my life, Labour has been a party of economic bigots, misfits and clowns.It never really changes.
When I was a schoolboy, even back then, I was able to see how high tax rates are a a major disincentive to business and investment. In those sad days, it was Super Tax from the Wilson government.
It was clear that the wealthy and entrepreneurs would simply invest abroad and that their money would seep - often illegally - out of our economy.
Later, it was to be that know-nothing Denis Healey with his promises about the rich, to tax them 'until the pips squeak!'
Now, when the going gets tough, Darling reverts to Old Labour type.
Labour enjoy punishing the rich of whom they disapprove and in some cases hate. Pragmatic it ain't! There has never been a time when it has been easier for the truly rich to remove their cash from this nation at the press of a button on a keyboard.
After yesterday's budget that is now inevitable.
The politics of envy is alive and well. As for me, if somebody has money - that is their problem. That has nothing to do with me but Labour's Robin Hood, cavalier, fiscal policies will hit me too, eventually.
Expect the 'brain drain' to start up again, too!
They will hurt us all and the bigger picture should be considered for once.
***A taxman once told me that it is a fact that the higher the taxation levels are - the less is taken in. Naturally, that does not apply to us poor saps on PAYE.
