“Composer Andrew Lloyd Webber called it ‘the final nail in the coffin’ for the British economy. Actor Michael Caine threatened to move to the United States because of it, and one of Britain’s top soccer coaches said it could undermine the national sport. Prime Minister Gordon Brown’s creation of a 50 percent tax bracket for the nation’s highest earners has led to a backlash from green rooms to boardrooms across Britain.” (Washington Post, Tuesday)
Politicians never learn.
FEE Timely Classic
“Cutting Marginal Tax Rates: Evidence from the 1920s” by Gene Smiley