RIP UK

Govt hikes top income tax rate to 50%

The government will increase its top rate of income tax to a higher than expected 50 percent from next year, Chancellor Alistair Darling said on Wednesday as he delivered the government's annual budget.
The tax band had originally been due to rise to 45 percent from 40 percent in April 2011 as Britain seeks to claw back lost tax revenue caused by a deep recession.

The 50-percent rate will apply to any income above 150,000 pounds.

China wants to make Shanghai the financial capital of the world and they're offering tax breaks galore to entice businesses. Meanwhile, the vampires of London and New York seek to drain their blood.

Advantage: Shanghai.