RICH PICKINGS: Whipping boys

Moves to raise taxes for the wealthy will do little to plug massive budget deficits, and will instead strangle the entrepreneurs who are essential to keeping the economy ticking over.

Has wealth become a dirty word in these recessionary times? A survey released last week by American Express revealed just 29 per cent of high-income earners actually like being described as wealthy, down from 35 per cent last year.

There are a probably few reasons that the rich are trying to keep a low profile.

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