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There are some terrific nuggets of information along the way. To get the UK’s Gini coefficient back to where it was in the 1960s when the Beatles were playing just using taxes and transfers – a 10 point reduction from its current level – income tax would have to rise by 16 percentage points. The political impossibility of post hoc redistribution using only taxation is clear. “This is why many of the policy measures proposed in this book are directed at making the distribution of market incomes less unequal,” writes Atkinson.
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“Let me tell you how it will be
There’s one for you, nineteen for me
Cos I’m the taxman, yeah, I’m the taxman”
I’m not sure The Beatles would approve of massive increases in income taxes.
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something is politically impossible only when people like you give up
Hi Ezra,
Were you referring to me or Diane?
Steven