Saturday, January 25, 2014

The problem for Ed Balls with his 50p tax rate for income over £150k is that he cannot make it tangible for ordinary people.

So why should they care whether the tax is 40p or 50p or 60p?

It's not as if he is going to give the money away, it's just going to reduce the deficit - which is so abstract it is meaningless.

A few people will say yes, let's attack rich people.

But the politics of envy only gets you so far.

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