A 50% tax rate is not only a temporary measure to raising revenue, it is an essential part of a just taxation system.
And I am well aware that the likes of the Digby Jones argue that if we have such a tax rate talent will lead this country. Let’s be clear about this though: that’s not talent that’s leaving, that is greed that is leaving.
Those who would leave this country in pursuit of monetary gain have such distorted value systems that their prospect of generating value for the rest of us is remote in the extreme. They make money by trading, by exploiting markets, by taking risk from which they receive the upside and we bear the downside, and they do so by cheating, even if they can defend it legally. We are best off without them.
The reality is real entrepreneurs are the people who have a genuine passion to make goods and to supply services that meet people’s needs. They are not put off by taxation: real entrepreneurs are motivated by the desire to do something well that fulfils a real demand from their fellow human beings.
This from the man who describes himself as an entrepreneur for having brought us the European packaging for Trivial Pursuit via the well known corporate tax haven of Ireland.