Seems the boy wonder has come up with yet another hair brained idea to dig the country out of the sh1t…
Clegg wants to soak the rich for the good of the country. The Deputy Prime Minister said that “people of very considerable personal wealth have got to make a bit of an extra contribution” towards what he describes as the “national effort”.
I am reminded of the famous remarks of Dennis Healey who said that “we should squeeze the rich until the pips squeak!”
I am not a great believer in graduated rates of taxation because as far as I can see if there is only one rate of tax, then if I earn 10 times as much as the next guy then I already pay ten times as much tax – so why should I subjected to a higher rate of tax and pay twenty times as much instead?
Chancellor George Osbourne is – as one would expect – opposed to Clegg’s suggestions. Well, as a wealthy Tory, I suppose you would expect him to be. But he has a point. The rich people of this country produce the businesses that employ the people who produce the wealth. That’s fair and as it should be. Tax them disproportionately and unfairly and they will simply move abroad. That way nobody wins.
Where the politicians are getting it wrong is by ignoring the very rich who pay accountants to set them up schemes to avoid tax. Tax avoidance is legal and is a supposed pet hate of George Osbourne. He bangs on about it all the time – but it seems to me that he only gives it lip service and never actually gets round to doing anything about it!
It’s time that politicians of all colours stopped trying to grab headlines and soundbites and started to get real about collecting the taxes that should be paid. And it’s also about time that the super rich stopped playing silly buggers and paid their fair share. After all, if you were seen to be paying your dues, then you would cease to be an easy target.
Naturally, I exclude bankers and their bonuses from this analysis, because they really greedy bastards and deserve to be screwed…