Channel 4 News: 50p Tax Rate, Do Britons Think it Will Make a Difference?
I guess New Labour is going back to being Old Labour and talking about fifty percent tax rates. If you think taxes are too high in America whatever income level you are at, try living in Britain and you’ll think the taxes in America are almost nothing. Top tax rate in the United States currently is thirty-three percent. United Kingdom it is somewhere in the forties right now and then you add up all sorts of other taxes to pay for all the public social services in the country all run by the national government there and you could be paying as much seventy percent in taxes if not more. Even Britain which is one of the most socialist democracies in the world, puts limits on how much they want government, especially their national government doing for them and how much they’ll pay for it. As we’ve seen in the last four years of the David Cameron government there.