Source: Adam Smith Institute
by Madsen Pirie
“Work is how most people create value. Tax it heavily and you get less of it. Income tax and National Insurance together make each extra hour less worth working, each promotion less worth seeking and each second job less worth taking. Some earners face effective marginal rates of 60 per cent as allowances are clawed back. Nobody designed that deliberately. It simply accumulated, like barnacles on a hull, slowing the ship a little more each year. A country that wants growth should want people to work, earn and advance. Taxing effort is a strange way to show it.” (11/09/26)
https://www.adamsmith.org/blog/the-taxes-that-tax-the-future