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Originally Posted by Osem
'Fixing' something* which you say doesn't work with something else which doesn't work doesn't seem like much of an idea to me. I reckon things are a whole lot better for the vast majority of us than they were in Harold Wilson's time which is the last time such high tax rates were levied IIRC. In fact Gordon Brown's decision to raise the highest rate of tax to 50% didn't work.
http://www.bbc.co.uk/news/business-17465733 |
America had a pretty high rate of taxation until the late 80s. In the 60s/70s/80s it was approaching the rate France are at now. Even in the 90s they had a rate at 40% which for a country that is often considered low taxation is pretty high.
http://taxfoundation.org/article/us-...usted-brackets
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* If we lived in a state of 'rampant capitalism' the banks would have been allowed to fail. They were not.
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Yes, the gains were kept and the losses are socialised.