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John Woods's avatar

I appreciate that when push comes to shove it should be the well off who shoulder most of the burden. I suggest that the tax rate for people earning over £70,000 a year of taxable income should increase to 50%. As most of these people employ tax accountants to minimise their liability for tax, all allowances should be limited to the first £20,000 of taxable income. A wealth tax is impossible, according to the experts, so people with assets valued at more than £10 million should be required to purchase the equivalent of War Bonds to finance the additional costs of preparation for warfare.

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