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Yet in the UK the amount of tax paid by the 1% is the highest ever (34%), 42% of adults pay NO income tax. And the tax take as a proportion of GDP is 34.4%, th
by zpeti 6y ago
Yet in the UK the amount of tax paid by the 1% is the highest ever (34%), 42% of adults pay NO income tax.
And the tax take as a proportion of GDP is 34.4%, the highest EVER.
We are living in the most taxed time in history with the rich contributing the most ever. Not the impression you get from people complaining about it.
https://www.theguardian.com/business/2019/nov/13/richest-britain-income-tax-revenues-institute-fiscal-studies https://www.theguardian.com/business/2019/nov/13/richest-bri...
- zpeti 6y ago4 downvotes so far after quoting uncomfortable truths from the guardian. Thanks HN.
- throwaway2048 6y agoIts the highest ever because the 1% are correspondingly much richer than ever.
- tdesilva 6y agoYour article doesn't directly talk about the tax rate for the top 1%. The fact that the percentage of total tax collected attributed to the top 1% has risen from 24% to 30% seems to be more indicative of higher wealth inequality, especially if the figures the other posters have mentioned about lower total tax rates on the rich are true. To me that's a good reason to raise taxes on top earners and lower taxes on the middle class.
- zpeti 6y agoHow do you include record adults not paying taxes in that then, along with record employment? Do you want everyone paying more, and the poor paying tax as well, or more income inequality but less people paying tax? You can’t have both.
- AngryData 6y agoWhen you make most of the money, you pay most of the taxes. You can't squeeze blood from a stone. 10% of a billion dollars is a lot more money than 50% of $100,000.