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Originally Posted by CharlieO
Not necessarily put them into deficit but it will indeed reduce the amount of tax revenue they receive and therefore could spiral into that.
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Well Osborne did it yesterday after research showed the 50p raises very little extra tax revenue because he argues people find ways to prevent their taxable income creeping into that highest tax bracket, and it also discourages entrepreneurship and success from people who are relied on to create wealth
To be honest I agree with him even though it seems unfair at first glance, there will be a point where increasing tax rates beyond a certain point will just damage the economy instead of helping it