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What's the problem with US-style pay if you set a top marginal rate of 95%?

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
by Migeru (migeru at eurotrib dot com) on Tue Sep 30th, 2008 at 03:39:47 PM EST
[ Parent ]
Becasue

i) We don't.

ii) it';s not covered by normal tax and he'd be so covered by tax loopholes and exemptions he'd never pay a penny. As Lord Vestey once said "in the UK, once you're out of PAYE (earned income tax rates) paying tax is entirely voluntary.

Our lords and masters have, for decades, created a tax system where the rich pay next to nothing. Labour have never challenged these cosy little arrangements, even when they were mistaken for a left wing party

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Tue Sep 30th, 2008 at 04:46:28 PM EST
[ Parent ]
Our lords and masters have, for decades, created a tax system where the rich pay next to nothing. Labour have never challenged these cosy little arrangements, even when they were mistaken for a left wing party
 

 Same here in Australia...at least for these 10 years that I am here.

Science without religion is lame, religion without science is blind...Albert Einstein
by vbo on Tue Sep 30th, 2008 at 09:27:45 PM EST
[ Parent ]
Perhaps Labour should then fight for a straight flat tax with zero loopholes.  Seems like you would get far more money out of the wealthy that way, and it would call the conservatives' bluff (assuming British conservatives bitch about progressive taxes as much as American conservatives.)

Truth unfolds in time through a communal process.
by marco on Tue Sep 30th, 2008 at 10:10:33 PM EST
[ Parent ]
"Zero loopholes" means the wealthy can't stash their loot in some nearby tax haven?

STALINIST!

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Oct 1st, 2008 at 02:32:50 AM EST
[ Parent ]

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