2 ms·
Your figures are obviously wrong... tax is not 40% over your entire earnings and VAT is not taken from your salary. So this “omg, government take 75% of my earn
by silveroriole 6y ago
Your figures are obviously wrong... tax is not 40% over your entire earnings and VAT is not taken from your salary. So this “omg, government take 75% of my earnings!” thing is alarmist.
e: in fact if you earn 80k and spend ALL your takehome on 20% VAT goods, you still end up with the majority share.
- aries1980 6y ago> in fact if you earn 80k and spend ALL your takehome on 20% VAT goods, you still end up with the majority share. Employment salary cost: 91.04K (gross salary + employer's national insurance) Gross income: 80K Take home pay: 55.04K VAT: 11K The value you can get if you buy everyday items after your 91K salary cost is 44K or 48%, the rest, 47K goes to the treasury. My figures were wrong indeed.