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> paying 71% income tax Do you have a citation for this? I'm interested in how this figure was extracted from where it came.
by exe34 7mo ago
> paying 71% income tax
Do you have a citation for this? I'm interested in how this figure was extracted from where it came.
- maest 7mo agoI think they're confused/disingenuous and talking about the _marginal_ tax rate at 100k. There's a segment of a few thousand pounds where your marginal tax rate skyrockets because you lose your tax free allowance at that income level. It's stupid, annoying and has some minor economic effects, but it's very different from a 71% income tax rate.
- exe34 7mo agoIt was a rhetorical question, of course they were being disingenuous. Marginal tax rate doesn't have the same ring as 70% tax.