Saturday, February 28, 2009

Give to the rich to help the poor? An idea worthy of Bono(Marina Hyde)

Some quotes -
"Mehta enlisted the Nobel prize winning economist Sir James Mirrlees to come up with a plan to address the shaming statistic that Britain's richest 20% donate 0.8% of their income to charity, while the poorest 20% give 3%."

"One suspects Mirrlees is a Nobel economics laureate much in the same way that Henry Kissinger is a Nobel peace laureate."

"Depressingly, Mirrlees and Mehta have already been granted two meetings with the Treasury, at which they insisted the scheme should be extended to those whose tax affairs are offshore, in effect allowing the use of UK taxpayers' money to be directed by tax exiles - and giving them tax relief for the privilege."

They are trying to get tax cuts for people who don't pay tax. How is that going to work?

Ms. Hyde adds a new word to my vocabulary of contempt - fauxlanthropy

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