Sunday, April 10, 2016

What chance have you got against a tie and a crest?

David Cameron's release of his accountant's summary of his tax situation shows the limitations of focusing on the current income of well-off people. Going by his taxable income, he has no meaningful sources of income other than from his political career: his salary as MP and PM, and the rent on his house while he lives in Downing Street.

But what's missing in those numbers is the life chances (as he likes to say) that got him to Eton, Oxford, special adviser positions with Tory governments, and a fast track through the party hierarchy. And after he's done being PM, there'll be additional income opportunities of the other Blairmore variety. Conclusion: his real wealth is not a number on any tax return. It's him.

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