Public support for broad-based taxation risks eroding when voters learn that the super-rich pay lower tax rates than ordinary citizens, according to new research co-authored by King’s academics.
More than a few are temporarily embarrassed millionaires, some are unable to comprehend how tax brackets work, and some genuinely believe that the rich would flee if taxed to the same level as say the £100k to £150k bracket, and that this would be “a bad thing”.
More than a few are temporarily embarrassed millionaires, some are unable to comprehend how tax brackets work, and some genuinely believe that the rich would flee if taxed to the same level as say the £100k to £150k bracket, and that this would be “a bad thing”.