Govt hikes top income tax rate to 50%:
"'In November, I announced a new rate of income tax of 45 percent on incomes above 150,000 pounds -- the top one percent of taxpayers,' Darling said in his budget speech.hmmm, so it won't pay to be successful in Britian - must be why so many of their citizens live in the US now, huh?
'In order to help pay for additional support for people now, I have decided that the new rate will be 50 percent and will come in from next April -- a year earlier.'"
But can you imagine having half your paycheck gone?
If you earn $30,000/yr .... instead of gettin the $20-25,000 you get now to live on it would be like you are only getting $15,000/yr. .... could you do it?
and its not just the fact that these people will lose 1/2 their income "on the other side of the pond" but that Obama may very well think it is a good plan and do it here as well .... afterall he has already gone back on his word on a few things.
Lords forbid government should ever have to cut back on what they are doing -- just keep reaching for everyone else's pocketbook.
at least we learn that American politicans aren't the only ones who like to bend the tax payers over.