Bye bye Tracey bye bye

I guess I'm a bit late on this one but that's because I've been busy. The government intends to impose a 50% tax rate on those who earn over £150,000. That sounds fair to me. The people who can most afford it should be prepared to make an extra contribution in these difficult times - well permanently actually . They, after all, are the ones who benefited most from the unsustainable boom, built on debt and the housing market, during the years of Gordon Brown's Chancellorship. As it is, ordinary hardworking families are being expected to pay for the excesses of the banks during the boom years, and the bankers already have their noses back in the trough to the tune of £6 billion after the £1.4 trillion taxpayers bailout.

But, as you might expect, those who benefited most have no intention of helping out. Tracey Emin, one of those beneficiaries, has threatened to quit the UK when the Tax is brought in in April next year. According to the Sunday Times she is likely to be joined by up to 25,000 others. Well, fine, if they want to go they should go. Some of us can remember that various members of the rich and famous, including Andrew Lloyd Webber, threatened to leave if Labour were elected in 1997. None of them did that I am aware of.

Would we be worse off without these people? The simple answer is no. The capitalist so-called 'free' press have been working hard over the years to persuade us that there is a magic band of people - chief executives and entrepreneurs - who we cannot do without. If we didn't have this master race to look after us we would all be starving. This is complete nonsense, and the excuse for those at the top to take an ever larger slice of the cake.

My Granny, who died at the age of 95, could have run RBS better than Fred Goodwin. She had a deal of common sense and was very good with money. Banking isn't rocket science. You borrow money at 5% and lend it at 6%. Simple as that. A fact that escaped most of the 'masters of the universe' who brought our economy down. There are plenty of able people in our society, many of whom's talents are wasted through deprivation and unemployment. There is no need for anyone to earn over £150,00 a year - period.

The simple truth is that it is the poorest people in our society who pay the most tax. Marginal tax rates for the poor are much higher than for the better off. Let these 25,000 people go. We can do perfectly well without them. In fact our society would be fairer and better if they weren't here at all.