Britain's New 50 Percent Tax Rate a Bust

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Britain's new 50 percent tax rate is apparently not bringing in the extra funds the government expected. In fact, it's bringing in less money.

High-level sources at the British treasury told the London Telegraph it appears well-to-do Brits have been finding ways to avoid the higher tax rate.

Supporters had been hoping the early numbers would show that higher taxes were bringing in more money.

Instead, it may increase political pressure to get rid of the new tax rate. Some fear businesses are leaving Britain to avoid it.

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