"Here's the truth. The proposed top rate of income tax is not 50 per cent. It is 50 per cent plus 1.5 per cent national insurance paid by employees plus 13.3 per cent paid by employers. That's not 50 per cent. Two years from now, Britain will have the highest tax rate on earned income of any developed country"
- Andrew Lloyd Webber
About this Quote
This quote by Andrew Lloyd Webber is referring to the recommended top price of revenue tax obligation in Britain. He is pointing out that the price is not really 50%, however rather a mix of 50% plus 1.5% nationwide insurance coverage paid by employees as well as 13.3% paid by companies. This means that the complete rate of tax is in fact 64.8%, which is dramatically higher than the 50% rate that was initially proposed. Lloyd Webber is alerting that if this rate is carried out, Britain will certainly have the highest possible tax price on gained revenue of any developed country in 2 years time. This can have an adverse impact on the economic situation, as it might discourage people from working as well as earning money.
"Now is not the time to give greater protections to pharmaceutical companies that put unsafe drugs like Vioxx on the market. Such protections have nothing to do with the liability insurance crisis facing doctors and should be stripped from this bill"
"When I came to Congress, like our first panel, small business people, 64 percent of the people had health insurance. We'd buy it. Now, we're down to about 34 percent. That's why we have to do something on health care in this country because the cost is killing us"
"Skyrocketing insurance premiums are debilitating our Nation's health care delivery system and liability insurers are either leaving the market or raising rates to excessive levels"
"The majority of Americans receive health insurance coverage through their employers, but with rising health care costs, many small businesses can no longer afford to provide coverage for their employees"
"Actually lowering the cost of insurance would be accomplished by such things as making it harder for lawyers to win frivolous lawsuits against insurance companies"
"Insurance - an ingenious modern game of chance in which the player is permitted to enjoy the comfortable conviction that he is beating the man who keeps the table"
