Senior sources said that the first official figures indicated that there had been “manoeuvring” by well-off Britons to avoid the new higher rate. The figures will add to pressure on the Coalition to drop the levy amid fears it is forcing entrepreneurs to relocate abroad.
The self-assessment returns from January, when most income tax is paid by the better-off, have been eagerly awaited by the Treasury and government ministers as they provide the first evidence of the success, or failure, of the 50p rate. It is the first year following the introduction of the 50p rate which had been expected to boost tax revenues from self-assessment by more than £1billion.
Nice try big government. The rich are generally rich for a reason and it isn’t because they are stupid. Sure, they’ll be happy to pay more of their hard-earned money so government can throw it down a rat hole.
Try lowering taxes significantly and cut some of the fat in the welfare department. Give the sloth just enough to survive; many will get the hint and decide to thrive rather than stagnate. Of course, you will be rewarded for your good deeds by being voted out of office by the same folks who despise responsibility and live off of the productive.