Squeezing the Pips

In the 1970s, UK Chancellor Healey was reported as saying that he would “tax the rich until the pips squeak”. Many decades later some argue that the Con-Lib coalition has put his Socialist ideas into action with their 50% marginal tax rate. Here’s a thoughtful piece from Chris Dillow on whether the 50% rate is effective and, more importantly, moral…
The Morality of 50%“, Stumbling and Mumbling blog, 8 Sep 2011

Other useful thoughts from Patrick Minford, FT Letters, 10 Sep 2011 and Taxing the wealthy: Diving into the rich pool”, The Economist, 24 Sep 2011.

The classic 1997 OECD study on the impact of taxation can be found here.