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Ouch.

TaxProf Blog: A 95.2% Income Tax Rate?

The Tax Foundation computes the income tax rates necessary to close the deficit.

And yet, Washington wants to continue the deficit spending. What's wrong with that picture?

J.

Comments (1)

otpu:

THE TAXMAN!

Let me tell you how it will be;
There's one for you, nineteen for me.

'Cause I'm the taxman,
Yeah, I'm the taxman.

Should five per cent appear too small,
Be thankful I don't take it all.

'Cause I'm the taxman,
Yeah, I'm the taxman.

(if you drive a car, car;) - I'll tax the street;
(if you try to sit, sit;) - I'll tax your seat;
(if you get too cold, cold;) - I'll tax the heat;
(if you take a walk, walk;) - I'll tax your feet.

Taxman!

'Cause I'm the taxman,
Yeah, I'm the taxman.

Don't ask me what I want it for, (ah-ah, mister Wilson)
If you don't want to pay some more. (ah-ah, mister heath)
'Cause I'm the taxman,
Yeah, I'm the taxman.

Now my advice for those who die, (taxman)
Declare the pennies on your eyes. (taxman)
'Cause I'm the taxman,
Yeah, I'm the taxman.

And you're working for no one but me.

Taxman!

copyright 1966 George Harrison and The Beatles.

Harrison wrote this song about Prime Minister Harold Wilson's confiscatory tax of 95% on the earnings of the 'super group' British invasion entertainers of the late 60's.

Wilson and his political rival Edward Heath are both mentioned in the song in a fair and balanced 'pox on both your houses' ddenunciation of both ends of the British political spectrum.

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