{"id":14593,"date":"2012-03-13T10:32:07","date_gmt":"2012-03-13T10:32:07","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=14593"},"modified":"2012-03-13T10:32:07","modified_gmt":"2012-03-13T10:32:07","slug":"lies-lies-damned-lies-and-the-50p-tax-rate","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2012\/03\/13\/lies-lies-damned-lies-and-the-50p-tax-rate\/","title":{"rendered":"Lies, lies, damned lies and the 50p tax rate"},"content":{"rendered":"<p>As Philip Stephens\u00a0<a href=\"http:\/\/www.ft.com\/cms\/s\/0\/b0194612-6c34-11e1-8c9d-00144feab49a.html#ixzz1ozWduQ6e\" target=\"_blank\">says in the FT this morning<\/a>:<\/p>\n<blockquote><p>Those demanding the chancellor should \u201ccut and be damned\u201d present a confused case. On the one hand they say that the 50 per cent rate stifles enterprise by taking too much from wealth creators; on the other, that it is not raising revenue because it is easily circumvented by clever accountants. It is hard to reconcile the two propositions.<\/p><\/blockquote>\n<p>That's\u00a0because\u00a0they're irreconcilable.<\/p>\n<p>That's because those making them know they're lying.<\/p>\n<p>The 50p tax rate is raising tax - a great deal if it. <a href=\"http:\/\/www.tuc.org.uk\/tucfiles\/243\/50percenttax.pdf\" target=\"_blank\">I've shown it has to do so<\/a>.<\/p>\n<p>And it's also absolutely untrue that cutting it will change the rate of\u00a0growth\u00a0in the\u00a0economy by encouraging enterprise - when that is taxed at\u00a0corporate\u00a0rates of little more than 25%. So that's also a lie.<\/p>\n<p>So let's move on and talk about what is really needed - which is state\u00a0investment\u00a0in\u00a0jobs,\u00a0because\u00a0that's the only thing that will break this economic downturn.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As Philip Stephens\u00a0says in the FT this morning: Those demanding the chancellor should \u201ccut and be damned\u201d present a confused case. On the one hand<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2012\/03\/13\/lies-lies-damned-lies-and-the-50p-tax-rate\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-14593","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/14593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=14593"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/14593\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=14593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=14593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=14593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}