Friday, April 24, 2009

Red is the colour, apparently.

I don't envy the Chancellor, who now has to make the best of a very bad job, but reverting to Labour's traditional roots by "clobbering the rich" doesn't strike me as particularly sensible, as it's penalising the very people who we are going to be looking to to lead us out of this mess. History tells us that the most likely effect of punitive tax rates on the rich simply results in them taking their money-making talents elsewhere. It may play well down the Working Men's Club, but it's a moot point as to whether it is in the best interests of the country as a whole.

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