Should we tax the rich more?

Yesterday The Times revealed that a third of British billionaires have moved to tax havens to avoid paying taxes. Is this fair?

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  1. Imagine you are in charge of deciding the income tax rate in the UK. What percentage of your income should be taxed if you earn over £150,000 a year? Now look up the real answer. Is it higher or lower than you thought?
  2. Write a list of pros and cons for the three kinds of tax explained in this video: income tax, consumption tax, wealth tax.