The Budget - Part 2: Top Rate Income Tax
Populist and political is this measure. 50% income tax on earners of £150,000+ per annum could make gains on the public coffers but it isn't assured. What's been created is a stronger incentive to find a loophole. The rich are great with accounting (the gap between rich and poor gets perpetually wider as the rich know how to protect their wealth and the poor do not).
Mark these points:
1. Don't think this will do for the treasury what they'd have you believe
2. The move is far better politics than it is economics
3. You don't need to feel extra appreciative of the rich, they won't be coughing up much as it'll go into capital gains, pension funds and the like
If you're going to tax the rich properly then you can't have these various rates knocking about. If you are going to have your wealth in this country (go to high and they could move of course) then all of it, however it is dressed up, should be taxed at a consistent rate so you know what you're getting. Of course the best bet is going by Fred Harrison's land value tax.