Daniel Hannan Quotes
You cannot carry on forever squeezing the productive bit of the economy in order to fund an unprecedented engorgement of the unproductive bit.
Hannan, Daniel. "Speech to Gordon Brown." European Parliament, 24 Mar. 2009, Strasbourg, France.
This was his most famous speech.
There are two reasons that government cannot depend on the rich for tax yield. First, there are very few rich compared to middle class workers. Although the rich person may pay more on the average in taxes, than others, there are not enough to cover all the expenses of a modern government. Second, because the rich make larger policitcal contributions and have lobbyists, they get legislation that exempts them from many taxes or provides loopholes. So even though the wealthy are theoretically supposed to pay a higher rate of taxes, as a practical matter, most wealthy people pay a lower tax rate than their secretaries or the waiter who will serve them lunch—the Buffet Principle.
Daniel John Hannan, Baron Hannan of Kingsclere is a British writer, journalist and former politician serving as an adviser to the Board of Trade since 2020. He is the founding president of the Initiative for Free Trade. A member of the Conservative Party, he was a Member of the European Parliament (MEP) for South East England from 1999 to 2020.