Actually just read this on how to treat workers!
If a 50% rate of tax is enough to disincentivise work, what will low or non-existent wages do?
There seems to be an accepted consensus amongst business leaders and many senior politicians – at least, the right of centre ones – that the 50p rate of tax is harmful to economic growth. The 50p rate is serving as a disincentive for wealth creation, we are told. Top earners are creating fewer jobs, moving assets abroad, generating less wealth, and in general taking extra pains to avoid their taxes. In short, taxing incomes over £150,000 at 50% instead of 40% is enough to make people fail in their patriotic work ethic.
While this may well be true, and cutting the 50p tax rate may be a good idea for a whole myriad of reasons, not least because it is possible that it actually brings in a lot less revenue, although this…
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