Who do you think currently pays taxes? I'll give you a clue: It's not the Guptas and their ilk who can afford tax havens. It's middle class people, with a high barrier of entry from the bottom due to lack of skills and the high cost of living. We're not solving the problem if we cook the middle class geese to subsidise poverty.

Why do the Scandinavian countries head the happiness report? Because they see return on investment for their taxes and they are some of the most capitalist nations on earth. Their high taxes - which are proportionally about what we pay, by the way - work for them, and they can afford it.

Look at their place on the index of economic freedom. Coincidence? I think not.