During my early life in the UK the tax rate for individuals earning over 20k was 83% and if the money came from investments or dividends another 15% was added onto it meaning for ever 100 you earned you could keep 2.
It’s at this point I disagree with Mark Cuban and his insistence that taxation has minimal to no effect on those starting a business which may hold true for a 5 – 10% swing in either direction but at 83% I seriously doubt it. Several , small, very small, ventures that Creddy and I considered were impractical to enact because the local town, county and state permits made it prohibitively expensive relating to the expected return. E.g you have spare herbs from a hydroponic garden and you may make say $1200 extra a year, er no not legally you can’t:) Yeah I know it’s not the big league but come on it’s not legal to offer surplus from your garden.. Grr anyway rant off:)
Public wants taxes that hurt the rich | Politics | The Observer
“People had assumed that this group were more than competent and it must have been deserved. There is now a feeling that these people have been responsible for others losing their jobs.”
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