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High earners will foot the bill for bailouts and stimulus packages, says KPMG...

KPMG, the professional services company which helps obscenely wealthy clients find clever (and sometimes illegal) ways to avoid paying their taxes, claims that governments are planning to increase taxes on the rich in order to pay for economic stimulus packages. In a bleating press release today, the company said that although the overage worldwide top-rate of tax actually fell by 0.3% between 2008 and 2009, it’s likely that this figure will increase in the near future as governments try to cover “stimulus funding”. The UK’s top rate increase from 40% to 50% next April is cited as an example of things to come. So what’s the problem? The filthy rich bankers and captains of industry created the economic...

posted on: Aug 20, 2009 | author: Lance