I thought these comparisons pretty telling from the US Institute for Policy Studies: Key USTax Facts 15,753: The number of households in 1961 with $1 million in taxable income (adjusted for inflation). 361,000: The number of households in 2011 estimated to have $1 million in taxable income. 43.1: Percent of total reported income that Americans
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My new report, 500,000 missing people: £16 billion of lost tax, very obviously suggests that 500,000 companies have been lost from view in the UK. There are two ways of looking at this. The first is the simple data on companies formed and dissolved each year in the UK, the graph of which based on
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Martin Wolf has one of his regular, and insightful, comment columns in the Financial Times this morning. It is entitled “Britain’s experiment in austerity“. If I might summarise his arguments, firstly he says that it is extraordinary that Britain is trying to reduce its government spending and deficit so rapidly when it has no fiscal
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