"either an idiot... or possessed of a dangerous agenda and very cunning"
Tuesday, 22 February 2011
The 50% tax rate shuffle
Worth remembering, in light of what we have seen in respect of income tax receipts, that many on the Right predicted confidently that the new top rate of 50% would have no net benefit or a negative effect (in Hirschman's terms that's perversity and futility covered). Watch now as the argument is redefined to say that of course the impact wouldn't be felt straight away, but over time.