Via Sadly, No!, wow, Michael Caine is a jackass. It's not like he pulled himself up by his own bootstraps in the midst of the Thatcherite capitalist paradise...he made his career in the 1960's, under the confiscatory tax structure decried by other working class lads made good.
Clearly, while some people are none too happy about their tax brackets once they've met with great success, the threat of high taxes was not enough to put them off their ambitions in the first place, so it's hard to take Iain Martin's scaremongering in the Telegraph column seriously. He seems to half recognize this, as he is very right to worry about "[a]ccess to the best schools...increasingly limited to the affluent." It's just his proposed remedy—slash taxes for the ultra wealthy—that's nonsense.