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> the wealthiest 1% are paying 28% of income tax receipts - and this percentage has increased over the last decade Without any information on how wealth inequa

> the wealthiest 1% are paying 28% of income tax receipts - and this percentage has increased over the last decade Without any information on how wealth inequality has increased, and the 1% have more income and assets now than they did last decade, this is misleading at best. If the top 1% are paying more taxes but are also making more money, this hardly seems unfair.

cbeach 4y ago
So you think 1% of people shouldering 28% of the cost of public services is fair?
- lm28469 4y ago
  Actually it's not too crazy as the top 1% own about 20% of the total wealth > The wealthiest 1% of households hold about 20% of household wealth, the top 5% of hold approximately 40%, and the top 10% hold over 50% of wealth https://ifs.org.uk/articles/distribution-household-wealth-uk https://ifs.org.uk/articles/distribution-household-wealth-uk If you don't tax them they just amass more and more money without contributing more, if anything their wealth is due to the work of the bottom xx% of society that work for these ultra rich families
- tikkabhuna 4y ago
  Do you think inequality should increase or decrease? If we keep current spending the same. We could reduce the % the top 1% bare by reducing inequality and by having the 99% earning and paying more tax. Or we could reduce taxes for the 1% and reduce spending which would likely increase inequality.
  - bigfudge 4y ago
    I agree that equality is a desireable goal. But, this argument doesn’t persuade people who don’t care about equality. Better is to focus on the benefits gained bu the wealthy from stable legal systems, public health, education etc. If you are Bezos your money is only possible because these expensive services are paid for. You gin more than most, and so must pay a greater share than most.
- rwmj 4y ago
  That only income tax, not all tax: https://fullfact.org/economy/do-top-1-earners-pay-28-tax-burden/ https://fullfact.org/economy/do-top-1-earners-pay-28-tax-bur... But yes I do think it's fair for the very richest to pay more tax, and I say that as someone who is a high earner who wants to see more equality.
- mvc 4y ago
  If that 1% has >=28% of the wealth, then yes absolutely
- bigfudge 4y ago
  Yes, because they are gaining more than rhe average share from the stability that a welfare state and legal system provides. If they want a lower tax rate they should move to a jurisdiction without expensive public services underpinning their success.
- notahacker 4y ago
  Seems fair enough. They earn 14% of the income of the UK, and don't need marginal pounds nearly as much as people at the bottom end of the scale who need marginal pounds just to be fed and housed. They also pay lower percentages of their income on non-income taxes than most other British cohorts
- deleted 4y ago
  [deleted]
- ihateolives 4y ago
  Is it only about fairness though? In US (don't know about UK) the top 1% held 32% of wealth last year. Is that fair?
- kalleboo 4y ago
  I don't think it's fair that 1% are hoarding 20% of wealth

cbeach 4y ago

So you think 1% of people shouldering 28% of the cost of public services is fair?

lm28469 4y ago
Actually it's not too crazy as the top 1% own about 20% of the total wealth > The wealthiest 1% of households hold about 20% of household wealth, the top 5% of hold approximately 40%, and the top 10% hold over 50% of wealth https://ifs.org.uk/articles/distribution-household-wealth-uk https://ifs.org.uk/articles/distribution-household-wealth-uk If you don't tax them they just amass more and more money without contributing more, if anything their wealth is due to the work of the bottom xx% of society that work for these ultra rich families
tikkabhuna 4y ago
Do you think inequality should increase or decrease? If we keep current spending the same. We could reduce the % the top 1% bare by reducing inequality and by having the 99% earning and paying more tax. Or we could reduce taxes for the 1% and reduce spending which would likely increase inequality.
- bigfudge 4y ago
  I agree that equality is a desireable goal. But, this argument doesn’t persuade people who don’t care about equality. Better is to focus on the benefits gained bu the wealthy from stable legal systems, public health, education etc. If you are Bezos your money is only possible because these expensive services are paid for. You gin more than most, and so must pay a greater share than most.
rwmj 4y ago
That only income tax, not all tax: https://fullfact.org/economy/do-top-1-earners-pay-28-tax-burden/ https://fullfact.org/economy/do-top-1-earners-pay-28-tax-bur... But yes I do think it's fair for the very richest to pay more tax, and I say that as someone who is a high earner who wants to see more equality.
mvc 4y ago
If that 1% has >=28% of the wealth, then yes absolutely
bigfudge 4y ago
Yes, because they are gaining more than rhe average share from the stability that a welfare state and legal system provides. If they want a lower tax rate they should move to a jurisdiction without expensive public services underpinning their success.
notahacker 4y ago
Seems fair enough. They earn 14% of the income of the UK, and don't need marginal pounds nearly as much as people at the bottom end of the scale who need marginal pounds just to be fed and housed. They also pay lower percentages of their income on non-income taxes than most other British cohorts
deleted 4y ago
[deleted]
ihateolives 4y ago
Is it only about fairness though? In US (don't know about UK) the top 1% held 32% of wealth last year. Is that fair?
kalleboo 4y ago
I don't think it's fair that 1% are hoarding 20% of wealth