The UK Telegraph reports that 61,000 jobs will be lost if the Capital Gains Tax is increased. The math is simple. If you want less of something, tax it. It is very refreshing to watch as true journalism and truth in government is practiced.
In America, a rise in any tax is not met with the truth in the same zip code if you listen to the Democrats and their press. Somehow, these taxes will actually create jobs in the minds of the Obamaites.
Same with Cap and Trade, Health Reform, and any other Democratic plan to “fix” the world.
But the Brits understand the the inversely proportional relationship between taxes and productivity. The Democrats in Americe are unable to comprehend that.
From the Telegraph:
Coalition plans to increase Capital Gains Tax could cost the UK economy 61,000 jobs and £4 billion, new figures have suggested.
The calculations from the Adam Smith Institute, a think-tank, emerged as Nick Clegg, the Deputy Prime Minister, signalled that ministers are willing to back down on several aspects of their controversial plans.
A senior Cabinet minister also told the Daily Telegraph that the final policy will reflect the views of senior Conservative backbenchers.
About Tom White
Tom is a US Navy Veteran, owns an Insurance Agency and is currently an IT Manager for a Virginia Distributor. He has been published in American Thinker, currently writes for the Richmond Examiner as well as Virginia Right! Blog. Tom lives in Hanover County, Va and is involved in politics at every level and is a Recovering Republican who has finally had enough of the War on Conservatives in progress with the Leadership of the GOP on a National Level.
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