November 28, 2012

The “rich” are rarely stupid [Darleen Click]

Who knew?

In the 2009-10 tax year, more than 16,000 people declared an annual income of more than £1 million to HM Revenue and Customs.

This number fell to just 6,000 after Gordon Brown introduced the new 50p top rate of income tax shortly before the last general election.

The figures have been seized upon by the Conservatives to claim that increasing the highest rate of tax actually led to a loss in revenues for the Government.

It is believed that rich Britons moved abroad or took steps to avoid paying the new levy by reducing their taxable incomes.

Posted by Darleen @ 7:58am

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Comments (4)

  1. I bet the royal whores still declared way over a million cause of nobody would believe them if they lowballed it

  2. I just finished watching a show on Netflix about how the English monarchy was so superior to other European monarchies because kings couldn’t raise taxes without parliament. This principle was the source of “no taxation without representation.”

    Come to find out a few centuries later, taxation with representation ain’t so hot neither.

  3. We’re back to taxation without representation.

    Or nearly so.

    The mob no more pays for government than did the old nobility.

  4. Are they RAAAAACIST! for reducing their tax bills, or is that an only-in-America thing?