On Sun, 21 Dec 2003 09:11:09 +0000 (UTC), "Cast_Iron"
wrote:


But if you reduce the tax burden surely you encourage enterprise, which
moves more money around the economy and thus you still get your tax. I am
not an economist, but AFAIK there are still arguments about high vs low
tax
. The rich will always provide you with more revenue per capita as
they're
spending and earning more cash.

That was Thatcher's theory, it didn't work.


Oh really ? That explains why the tax take increased by nearly 50% when the
60% band was abolished.

It also explains why the top 10% of tax payers are now paying close to 40%
of the overall take compared to just over 20% at the height of so socially
equitable rates of 98%.



greg

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