Trajan
conscientia mille testes
This is exactly what several states here have done and what Obama proposes as well.
The UK has now on a national level provided an example for Obama to learn from, it don't work......
unless of course he knows this and just wants to use this as a platform to stir up class warfare etc etc ......
50p tax rate 'failing to boost revenues’
The amount of income tax paid fell sharply last month in the first formal indication that the new 50p higher rate is not raising the expected amount of revenue.
The Treasury received £10.35 billion in income tax payments from those paying by self-assessment last month, a drop of £509 million compared with January 2011. Most other taxes produced higher revenues over the same period.
Senior sources said that the first official figures indicated that there had been “manoeuvring” by well-off Britons to avoid the new higher rate. The figures will add to pressure on the Coalition to drop the levy amid fears it is forcing entrepreneurs to relocate abroad.
The self-assessment returns from January, when most income tax is paid by the better-off, have been eagerly awaited by the Treasury and government ministers as they provide the first evidence of the success, or failure, of the 50p rate. It is the first year following the introduction of the 50p rate which had been expected to boost tax revenues from self-assessment by more than £1billion.
more at-
50p tax rate 'failing to boost revenues’ - Telegraph
I loved their headline, 'failing to boost revenue', why yes thats one way of putting an epic fail...
The UK has now on a national level provided an example for Obama to learn from, it don't work......
unless of course he knows this and just wants to use this as a platform to stir up class warfare etc etc ......
50p tax rate 'failing to boost revenues’
The amount of income tax paid fell sharply last month in the first formal indication that the new 50p higher rate is not raising the expected amount of revenue.
The Treasury received £10.35 billion in income tax payments from those paying by self-assessment last month, a drop of £509 million compared with January 2011. Most other taxes produced higher revenues over the same period.
Senior sources said that the first official figures indicated that there had been “manoeuvring” by well-off Britons to avoid the new higher rate. The figures will add to pressure on the Coalition to drop the levy amid fears it is forcing entrepreneurs to relocate abroad.
The self-assessment returns from January, when most income tax is paid by the better-off, have been eagerly awaited by the Treasury and government ministers as they provide the first evidence of the success, or failure, of the 50p rate. It is the first year following the introduction of the 50p rate which had been expected to boost tax revenues from self-assessment by more than £1billion.
more at-
50p tax rate 'failing to boost revenues’ - Telegraph
I loved their headline, 'failing to boost revenue', why yes thats one way of putting an epic fail...