Ed Balls has been criticised for saying he would increase taxation for those who earn over 150,000 a year, as apparently this would be an attack on business and discourage investment. Bollocks.
- A company usually invests with it’s company money and this is dealt with by corporation tax, so that’s not relevant, and will skew HMRC’s figures that are used as evidence that more tax is received when the rich are taxed less.
- Also rich people buying foreign sports cars, luxury yachts and holiday homes doesn’t help this economy.
If someone earns 150,000 a year, I’m not too concerned if they have to pay a little more to ensure that other aspects of society can have help when required.
Again its a case of Keynesian economics vs Friedman’s free market – one favours the rich and the other tries to even up the balance. How can 85 people have more money than the poorest half of the world – does that not strike you as a little fucked up?