People who’ll never earn £150k protest at potential tax hike for people who earn £150k

eddie balls' tax hikePeople who’ll never earn £150,000 a year have today vented their anger at Shadow Chancellor Eddie Balls who confirmed again today that a Labour Government would raise income tax to 50% for those earning over £150,000 per year.

One protester told us “I don’t earn very much now but if I ever do I don’t want to hand it all back to the state. And because I don’t actually understand tax I ‘ll be thinking that you’ll actually have more take home pay if you earn slightly under the £130,000 threshold. And that makes me even more furious about my fantasy situation.”

Similarly another protester explained “I earn £32,000 a year now and pay 40% tax. But if I had a pay rise of £118,000 that would take me into the 50% bracket, a rise of 10% on anything I then earnt above that. So under a Labour Government I would be forced to say to my employers ‘No thank you very much. You can stick your pay rise up your arse’.”

Present Chancellor of the Exchequer George Osborne has argued that such an unfair tax on the very wealthy would be a recipe for disaster.

“If we tax people who can afford it then it’s bad for business. In fact it will be so bad that all businesses will actually leave Britain such will be their indignation at a millionaire having to pay a bit more income tax.  It’s much better for business to tax people who can’t afford it. In any event last time the Labour Government raised taxes for rich people they actually paid less. And we’ve got figures to prove that. So if we tax rich people less then they’ll actually be paying more. And we’re going to keep saying it with a straight face until you start believing it. Look into my eyes. You are feeling sleepy.”

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