Taxes

Now that Osborne accepts that lower taxes are a good thing for stimulating growth, viz. the 10% tax on profits from intellectual property researched and developed here, why does he not take the next logical step and abandon the 50% tax rate and reduce other taxes. It is well documented that lower taxes produce greater tax revenues. The reason is not hard to understand as those allowed to keep more of the money they earn have a greater disposable income to use in a myriad of ways. All of which use will benefit the private sector thereby increasing its wealth and that of the individuals in it who by earning more will pay more in taxes. QED.