Monday, 9 February 2009

Sensible but unlikely to happen

Equity Private is smart - I don't always agree with her, but when she's describing things rather than satirising them, she often makes a lot of sense. And so it is with a recent dealbreaker post on flat rate tax here. She points out the utter waste of effort involved in the current tax system, the tax dodges for the rich (but not the poor, who cannot afford the professionals who can find them), the idiocy of so many deductions. Combine that with the scandal of corporate tax optimisation uncovered in the last few days by the Guardian, and you have a powerful case for a radical simplification of the tax system. But the entrenched interests are too powerful: I will lay quite a lot of money that it won't happen.



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