Back in 2010, I excoriated the new Prime Minister of the United Kingdom, noting that David Cameron was increasing tax rates and expanding the burden of government spending (including an increase in the capital gains tax!).
I also criticized Cameron for leaving in place the 50 percent income tax rate imposed by his feckless predecessor, and was not surprised when experts began to warn that this class-warfare tax hike might actually result in less revenue because the reduction in taxable income could be more significant than the increase in the tax rate.
Breaking on TOWNHALL
- Total number of one-on-one meetings between Obama and Sebelius since ObamaCare was passed: One Allahpundit 44 minutes ago
- November jobs report – 203,000 jobs added, unemployment rate 7.0% Steve Eggleston 1 hour ago
- Turn your deceased loved ones into diamonds? Jazz Shaw 2 hours ago
- Too good to check: Dem House candidate supports convicted mobster Jazz Shaw 3 hours ago
- Quotes of the day Allahpundit 12 hours ago
- Chris Matthews on his Obama interview: “He came to us. He came amongst us.” Mary Katharine Ham 13 hours ago