The bottom 10 per cent of households pay 47 per cent of their income in tax. But they would gain nothing from the parties' plans.
At a time when the incomes of ordinary families are falling, the highest earners must contribute more to reduce government borrowing.
Danny Alexander and former M&S boss Stuart Rose attacked Labour yesterday, but they used to insist that the top rate should remain in place.
The tax burden on high-earning individuals has gone up not because politicians have been taking them for all that they’ve got, but because they’re the ones earning all the money in the first place.
Between $21-32trn of private wealth is kept in tax havens, and Britain is at the very centre of a global financial system that allows the wealthy to avoid tax.
Earnings rose by an unusual high of 2.1% in the latest quarter but only because bonuses were paid in April, rather than March, to benefit from the new 45p rate.
Including, only a third of married couples will actually gain, it discriminates against single parents and it reduces work incentives.
The UKIP leader, who set up an offshore tax fund on the Isle of Man, told the European parliament that tax avoidance was about "the perception of fairness".
Why the increase in tax revenues doesn't prove that the coalition was right to scrap the 50p rate.