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Britain's Big Issues Are Our Big Issues

By Neil Cavuto , Fox News
Published | Updated

They brought us the Beatles and it changed our music. Now they're shaking things up and it could prove our future. Two big things happening in Britain today that I want you to pay very close attention to.

Big thing No 1: A big tax on very rich folks went into effect there today. Fifty percent. That's right — 50 percent. And we wince at soon bringing ours up to just under 40 percent.

Big thing No. 2: A big election announced today for one month from today, even as polls show few bothered by rich tax today.

British Prime Minister Gordon Brown is putting the wheels in motion for what some say could be a preview of coming attractions here. Here's why: Their big issues are our big issues — deficits and taxes.

The government there spending more, taxing more, with scant signs it's doing a whole heck of a lot more. Just like the government here has been spending more, taxing more, with scant signs it's doing a whole heck of a lot more.

But the prime minister, like our president — liberal chaps both — insists things are improving enough. Enough, Brown hopes, to keep his Labour Party liberals in power. And enough, Obama hopes, to keep his Democratic Party liberals in power.

Difference is: The prime minister's test comes sooner than the president's. His elections are next month. The president's crucial mid-terms aren't for another seven months.

Polls in both countries say liberals are in trouble, but the polls have been narrowing in Britain. So it would be wise for conservatives to take note here.

There's even talk of a hung parliament over there, where nobody really wins. Which would be a victory for liberals since everybody thought they'd lose.

But they're clawing back — scant comfort to conservative Tories who didn't see it coming there and equally adamant Republicans who can't fathom it happening here.

Fathom away the lead slipping away. It could happen here. Take a look at Britain: Taxes or no, it's happening there.

— Watch Neil Cavuto weekdays at 4 p.m. ET on "Your World with Cavuto" and send your comments to cavuto@foxnews.com