The Very Non-Flat Tax

By Ocean in Featured, Taxes

Right after we discussed the Flat Tax and its benefits, it seems as though the United Kingdom has decided to take the opposite route and has instituted a very big tax hike across the board.

This seems like a very gutsy move: in a country that is loth to institute a flat tax, to increase taxes in such a major way. Note especially the 50% increase in income tax for those earning more than £150,000 per year. As we have seen in the past, this merely means that the very rich will move the bulk of their money offshore (wouldn’t you?). This, combined with further taxes on alcohol, fuel, tobacco, and many other goods, seems like a recipe for disaster.

More details of the Taxes here.