Tax revenue plunges in UK after 50% rate implemented

You should either post definitive links to support all these people stating that they want tax payers to pay people to stay off work their entire lives, or leave the thread. It's rapidly becoming embarassing for you, and I hate to see people make fools of themselves in public.

 

It's pretty clear that people are indulging in tax avoidance.

Tax avoidance will result in a loss of income for a government.

Apart from that I don't think any generalised conclusions can be drawn.

 

Exactly. And who is avoiding tax? Wealthy people, to whom the 50% tax band is applicable.

 

But if that 0.01 is paying a majority of the taxes - you have lost a lot of revenue

The more rich people flee the less tax they are paying

So guess what, libs raise taxes again on the folks still there

 

Indeed. They'll find ways of evasion and avoidance, the government will try and stop them evading and avoiding. The dog chases its tail.

 

Every bit of bull(*)(*)(*)(*) you wrote above flies in the face of what Europe is facing with their economic meltdown. You most certainly are a socialist leffe, and the lifestyle that you support of Europe proves it.

 

You might want to check the definition of "socialist" and "socialism" before you go off like that. They have actual meanings.

The economic meltdown in Europe is directly connected with the disaster that happened in the US economy. The Europeans are handling it the wrong way though, this business of "austerity" is going to bring their economies crashing down. They should have taken the Keynesian route but for some inexplicable reason they decided "austerity" was the ticket. Look at the British government and their Chancellor's "austerity" plan. Not working. Won't work.