How about a tax cut for all of us?

Well they're at it again.

No not the Tories or the terrorists (who ever they may be this time around) but this time the minority that asks for so much but contributes so little.
Can you guess who I'm talking about? Could it be the long term unemployed or the sick? How about single parents? According to the media,they are always asking for something aren't they?.How those pesky rioters?
Well I'll tell you to save you all from guessing.

Economists.Yes that's right Economists.

Apparently a bunch of "20 high profile Economists" have got together to vent their spleen about how the 50% tax bracket that the 310,000 folks that earn over £150,000 pay is doing lasting damage to the UK economy.

Surely I cant be the only one who thinks that when they say "UK economy" they really mean "my own personal wealth which is mine so there" I must admit though I did feel a little bit sorry for them,because after they have had their tax deducted,how on earth do they manage on such a small amount?

At a time of national economic crisis like we are in now,people on high incomes can and should contribute far more in taxes.

Instead, this vicious cycle has been at work for years:

Reduced taxes on the rich leave them with more money to influence politicians and politics. Their influence wins them further tax reductions, which gives them still more money to put to political use. When the loss of tax revenue from the rich worsens already strained government budgets, the rich press politicians to cut public services and government jobs and not even debate a return to the higher taxes the rich used to pay.

How do the rich justify and excuse this record? They claim that they can invest the money they save from taxes and thereby create jobs, etc,some even going so far as to threaten to leave the country and take their money with them.But does this ever happen?
Actually cutting rich people's taxes is often very bad for the rest of us.It's been proven that the wealthiest take the money they save from taxes and invest big parts of it in China, India and elsewhere which often produces more jobs over there, fewer jobs here, and more imports of goods produced abroad!

Another thing that can be done with the money they don't pay in taxes is to invest it in hedge funds and with stockbrokers to make profitable investments. These days, that often means speculating in oil and food, which drives up their prices, undermines economic recovery for the rest of us, and produces acute suffering around the globe. Those same hedge funds and brokers likewise use part of the money rich people have saved from taxes to speculate in the global stock markets. That has recently driven stock prices higher: hence, the stock market recovery.

And that mostly helps – you guessed it – the richest who own most of the stocks.