British Labour Party Supporters Want To Tax the Rich More, Even if Doing So Won’t Raise Revenue

Recent polling
from the U.K. highlights a worrying and widespread moral conviction
among supporters of the Labour Party.

YouGov asked supporters of the Conservative, Labour, and Liberal
Democrat parties as well as supporters of the United Kingdom
Independence Party (UKIP) what they thought about raising the top
rate of income tax from 45 percent to 50 percent.

The results below:

With the exception of those who support the Conservatives, most
supporters of all the parties back raising the rate of income tax
for the wealthy.

YouGov also asked supporters of the same four parties if
they would support raising taxes on the wealthy if doing so
would not raise money for the government

The results below:

As can be seen, just over over half of UKIP and Liberal Democrat
supporters and a little over 70 percent of Conservative supporters
believe that the top rate of income tax should not be raised to 50
percent if doing so would not increase government revenue.

Shockingly, almost 70 percent of Labour Party supporters believe
that it is worth raising the tax rate for the wealthy, even if
doing so would not raise more money for the government.

The graph above is among the best illustrations of how the “tax
the rich” mentality of many Labour Party supporters has little to
do with a desire to grow government revenue and a lot to do with
taking money from the wealthy just for the sake of doing so.

Member of the Labour Party and Shadow Chancellor of the
Exchequer Ed Balls has
said that raising the rate of income tax for the wealthy to 50
percent would be implemented under a Labour government. Balls has
denied that pledging to do so is a sign of an “anti-business

In 2010, when a Labour government was in power, an income tax of
50 percent for those earning more than £150,000 (about
$245,150) was introduced. The current coalition government cut
the rate to 45 percent last April.

According to
research from Oriel Securities
, the richest 1 percent of
Britons pay almost a third of income taxes.

Watch Labour Party members cast their votes for socialism over
capitalism at their most recent conference below:

from Hit & Run

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