The Alternative 2012 Budget – Taxes
by Peter Kralj, LL.B LL.M
Much of the debate in the press has been about lowering the 50p rate of tax. Those who advocate reducing the rate do so because they say that those who pay the 50p rate are entrepreneurs and create jobs and in any event so clever that without them our economy will collapse further because these clever entrepreneurs will leave the country.
I have decided to keep the 50p rate and to introduce two other rates of income tax, a 60p rate for those earning over 500,000 and an 80p rate for those earning over 1,000,000. However I intend to provide ways in which these admittedly high rates of tax can be reduced to 0% for those who really do create jobs and create improvements in our Gross National Product.
I will provide a tax deduction for any capital invested by
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