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I'm curious, do we actually have higher taxes than most other countries and if so in which specific areas? Personally a well paid individual no dependants I fi
by ck425 4y ago
I'm curious, do we actually have higher taxes than most other countries and if so in which specific areas?
Personally a well paid individual no dependants I find the Tory focus on cutting taxes ridiculous but I'm aware I'm ignorant of how we compare to other countries.
- LatteLazy 4y agoComparing tax rates is notoriously detail driven but... I earn a (healthy) 95k. I pay 35% in NI and Income tax. I'd pay another 9% in student loans if I wasn't lucky. So 44% total deductions https://listentotaxman.com/?year=2022&taxregion=uk&age=0&time=1&ingr=95000 https://listentotaxman.com/?year=2022&taxregion=uk&age=0&tim... In France I'd pay the exact same rate overall (95kGBP->112kEUR) https://salaryaftertax.com/fr/salary-calculator https://salaryaftertax.com/fr/salary-calculator I think this sums up the UK: European style taxes, US Style public services. Cynicism aside for a minute, I think we have a real issue in the UK with a diminishing tax base: fewer and fewer people contribute and they have to contribute more and more of their incomes and everyone gets less and less services.
- ck425 4y agoHmm I'm not sure it's fair to consider student loan repayment a tax. It's limited and many people will pay it off fast. I presume you're based in London if you're on £95k and still have outstanding student loads?