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It is fair to pile tax liabilities onto the rich?

While in troubled times each and every government in the UK seems to attack the middle-income and high-income elements of the UK population there is growing concern that this type of move could actually be counter-productive. Even though there is no doubt that the vast majority of people in the UK, including middle-income and high-income families, believe that tax should be levied on a "can pay basis" let's not forget that many of these high-income families are supporting businesses which directly support large numbers of jobs in the UK.

Even though the UK has some of the most profitable and well-known businesses in the world let us not forget that for each and every business which is successful there were literally hundreds which fall by the wayside and cost their owners significant amounts of money. If the risk reward factor is tilted against business owners and business entrepreneurs, via the tax system, where is the incentive to invest in UK plc and the UK workforce?

There is no doubt that there needs to be a balance between taxation and investment on a personal and business level but by overtaxing middle-income and high-income families and business people, there is a danger this could be counter-productive in the short to medium term and impact upon economic performance.

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