Wednesday, February 22, 2012

Surprise: UK’s Version of ‘Buffett Rule’ Failing to Bring in Expected Revenue

"In 2010, the UK implemented what could be described as their version of the “Buffett Rule” that President Obama has been proposing in the US.

So how’s that going? Early numbers show that the concerns of those who thought the new tax would backfire like a TVR Cerbera were not unfounded

The controversial 50p tax band is ‘not working’ and revenues have fallen since it was introduced, new figures suggest.

They appear to show the wealthy are finding ways to dodge the tax band levied on incomes of more than £150,000.

So the well-to-do might be simply taking their money elsewhere? What a shocker!" [Michelle Malkin"

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