October 9th 12, 12:38 PM
posted to uk.transport.london,uk.rec.driving
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First recorded activity at LondonBanter: Jul 2003
Posts: 523
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Dartford crossing
In message , tim.....
writes
wrote in message
...
On Tue, 9 Oct 2012 02:50:08 +0100
Clive wrote:
In message , d
writes
Oh dear, here comes the politics of envy. You just can't help
yourself can
you. So is that top end tax rise to 50% a myth then?
This is a mere squabble in a sweet shop. In the 60s supertax was 98p
in the pound.
Sounds like the idea of some left wing idiot in france who was proposing
a 100% tax on earnings above 100K euros or something. Presumably it never
occured to his lonely braincell that if all the money above a certain rate
goes in tax then companies simply won't bother paying above that rate.
I suspect the same happened with a 98% tax which is why they ditched it.
The 98% was only on unearned income [1].
So all the people with serious amounts of unearned income left the country
[1] The top rate of tax on earned income was 83% with a 15% unearned
income surcharge.
I believe this was what was behind the Beatles track "Taxman".
--
Clive
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