99% tax on income over £150,000 p.a.

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99% tax on income over £150,000 p.a.

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Increase the tax rate on personal income above £150,000 per annum from 50% to 99%.

An income of £150,000 is equivalent to that of 6 people earning national average income, and 12 people earning the national minimum wage for 40 hours per week.

Higher tax rates on higher individual incomes are urgently needed to compensate for losses in per-capita tax revenues (e.g. Council Tax ) incurred by increasing unemployment and poverty.

Tax breaks for abnormally high incomes serve only to encourage a culture of greed instead of sustainable social development. Greed is unhealthy, regardless of whether you are rich or poor.

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