You cannot tax the world

It remains a source of absolute amazement to me how little the political class learn year on year, or for that matter decade on decade. Take the current UK government, handed a healthy economy on election day they have succeeded in once again making us one of the poor men of Europe if not the world and how do they propose to get us out of the mess??

Well what they will do is tax high earners, those who created and continue to create the wealth, at levels that will force a brain drain and no not just a brain drain this time but a corporate drain that could well kill the golden goose that is the city.

During the 1970's under and earlier Labour Government the recipe for financial recovery was to tax the wealthy and then when capital flight started to happen clamp down on the amount of money you could take out of the country and then had to interfere in the amount of money you could earn by limiting salary bonuses and raises, does this sound familiar. I arrived in the UK at the height of this stupidity and nearly left when the company I was working for could not give me the salary we had agreed because of the government, we eventually worked around it using offshore accounts. Sound familiar??

This simple confirms in my mind that Jonah and his Darling are not third rate intellects they are fifth or sixth rate if that. Jonah is supposed to be a fan of history but I guess that little mess was read with his left eye in the dark.

My fear is that by the time we get to vote this unelected prime minister out of office we do not have the Maggie character to replace him with. Cameron looks far to populist to me and is currently treating his core with very little respect and risking losing them.

What is the solution, if I knew I would be making a lot more money than I am now, but I know that unless we unfetter capitalism and let wealth creation restart, this country is finished.