Also, during the post-war Keynesian consensus by both parties until the 1980s, the highest bracket for income tax was around 75-90%. Corporate tax didn’t exist until 1965, and tax on shareholders’ dividends were treated as income tax.
My Son has formed a friendship with one of the worlds best known banking families through his fire pit events being held on one of their family estates. I have met them two or three times, lovely people. The thing is that they are comfortable, no great exhibition of wealth, just no need to worry about money or things. They can buy what they want when they want. One example is that they still drive around in old battered Land Rovers whilst the estate manager has the latest Defender. Money does not buy you happiness. I am in court on Monday giving evidence in a case that made the National papers last week. All about a family will.
Same with a bloke not far from me. Has a big estate and a title which is on of the longest there is, sounds Scottish based. Used to chat to him when he came into a garage my mate worked in who told me who I wwas. He was there to get his Montego serviced. Quite chuffed to be in such illustrious company as I had a Montego at the time. He was put out when they stopped making them. Could have had any car he wanted but ran his last Montego until it disintegrated.
