One of the reasons put forward as to why we shouldn’t introduce a tax on the highest income earners is that it would be a disincentive to work and enterprise, would penalise those making a profound contribution to our economic development; would punish the risk-takers, the job creators, the wealth generators. To introduce such a tax would catapult us into a dark age of state socialism, economic meltdown and quasi-feudalism.
Whenever I hear this argument I don’t just chuckle; I don’t just chortle or guffaw or giggle. I laugh out loud. I fall on the floor laughing. I laugh so loud and so long I’m in tears. I have to be careful not to think of this argument when in a pub or restaurant or cinema because I will immediately go into hysterics and it can be quite embarrassing. Already I’m wiping my eyes.