Time for a tax cut

China’s finance minister proposes income tax reforms. Income tax was first introduced to the United Kingdom in 1799 as a means to raise funds for the war against Napoleon. In America, it was legalised by Congress in 1913 and by the final year of the First World War the top rate of tax had been set at 77%. As China heads for a trade conflict with the US, it seems to be … http://bit.ly/2lIdWjF

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