3 ms·
Even more confusing is that the full quote at the beginning of that paragraph mentions capital gains tax right after: "Unfortunately, in England, higher salari
by pedrosorio 5y ago
Even more confusing is that the full quote at the beginning of that paragraph mentions capital gains tax right after:
"Unfortunately, in England, higher salaries will mean higher tax rates. Data released late in 2020 showed that Londoners contribute to nearly 30% of the country's capital gains tax"
??? Either the author mistakenly wrote capital gains instead of income, or they were just citing something completely irrelevant to the discussion.
Regarding the "confusing progressive tax rates", I agree with you. "Most systems around the world contain progressive aspects." [0] And a look at "tax rates around the world" shows most countries have higher marginal tax rates for higher incomes [1]
[0] https://en.wikipedia.org/wiki/Progressive_tax#Examples https://en.wikipedia.org/wiki/Progressive_tax#Examples
[1] https://en.wikipedia.org/wiki/List_of_countries_by_tax_rates https://en.wikipedia.org/wiki/List_of_countries_by_tax_rates