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Last updateThu, 20 Nov 2014 12pm
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U.K.’s 25% Tax Hike on the ‘Rich’ Produces Less Revenue

TaxProf Blog:

The Telegraph, 50p Tax Rate 'Failing to Boost Revenues’:

The Treasury received £10.35 billion in income tax payments from those paying by self-assessment last month, a drop of £509 million compared with January 2011. Most other taxes produced higher revenues over the same period. ... continues...

" Friends and neighbors complain that taxes are indeed very heavy, and if those laid on by the government were the only ones we had to pay, we might the more easily discharge them; but we have many others, and much more grievous to some of us. We are taxed twice as much by our idleness, three times as much by our pride, and four times as much by our folly. "

-- Benjamin Franklin

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