Ah, what does our government (tabloid editors) tell us to do?
Tax the wealthy (owners of tabloids amongst others).
Stoopids will love that, as will meejah.
So headlines squeal "50% tax on the wealthy".
Who could complain?
Certainly not the wealthy, who are never in the upper tax bracket if they have the brains to be wealthy, as the last thing anyone with brains does is get into that tax bracket.
So they are company directors or overseas tax payers or anything simple and easy to ensure they never pay top whack.
A basic quality of being wealthy.
Doh.

Labour made the same mistake under Wilson.
The rich simply moved abroad,as has also been predicted this time.
Will Brown play Callaghan,to Cameron's Heath?

And already on BBC Breakfast the only person who seems to have a clue, Vince Cable, has said this is exactly what will happen.

It will raise something like £1 billion - given the incomprehensible numbers for the money being splashed about it hardly seems worth the effort.

What planet are you living on?

That sounded like the insane ramblings of a madman.

and they have a year to hide their wealth.

By 2011 no one in the UK will be paying the Top rate tax apart from Public employees and some bank execs.

They will all have left or pegged their salaries at £149,999. The gap between 25% and 50% is too big. So it is better to earn under the figure than earn £200K.

Not quite right BR, as only earnings OVER £150,000 will be taxed at 50%, not the whole amount.

What?

Are you forgetting the 40% rate as well?

So, if a company wants to offer me a salary of £400k a year, I should ask them to peg it at £149,999 so I don't have to pay an extra 10% tax on the portion of my salary that is over the threshhold.

You clearly have no idea what you are talking about.