Two interesting articles in the FT today: here and here.Point 1 - I predicted this back in February. If you shit on high earners (for example, bankers) and attack their market competitive pay, they bugger off to a company who will pay them the market rate. Think what that might mean for taxpayer owned Lloyds, HBOS, RBS, NatWest, etc…
Point 2 - The top 1% of British earners pay 23% of tax. Reduce their pay significantly and HMRC is cannibalising its own income, purely for political, gallery playing ends.
Point 3 – High earners are internationally very mobile. They move to the best tax regime; think 1970s Britain, the so-called brain drain etc...
All you NuLab luvvies and St Obama cocksuckers might want to remember these three facts the next time you mistake your ‘politics of jealously’ for a reason to attack high earners.
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