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top 1% pay 27%, top 10% pay 90%

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    #11
    Originally posted by BlasterBates View Post
    Difficult to work if there are no roads, offices or telephone lines.

    just saying
    funded by rich people's taxes?
    Always forgive your enemies; nothing annoys them so much.

    Comment


      #12
      Originally posted by vetran View Post
      funded by rich people's taxes?
      Not if they relocate their businesses to Germany.

      I'm alright Jack

      Comment


        #13
        Originally posted by BlasterBates View Post
        Not if they relocate their businesses to Germany.

        scooter selling his affections on the Strasse is hardly going to fix the balance of payments.

        Always forgive your enemies; nothing annoys them so much.

        Comment


          #14
          Originally posted by zeitghost
          Curious since the highest rate of tax in the 1970s was 98%.
          Originally posted by ASB View Post
          102% never. It was worse than that....

          http://www.hmrc.gov.uk/history/taxhis7.htm

          Special rates have been introduced twice within the post-war years, causing income tax in certain circumstances to exceed 100%.

          * For 1947-48 a special contribution was payable when a person’s total income exceeded £2,000. For investment income over £5,000 it was 50%. So with income tax at 45% and surtax at 52.5%, the effective rate was 147.5%.
          * In 1967-68, the special charge was imposed. For investment income over £8,000, the rate was 45% which - with income tax at 41.25% and surtax at 50% - meant a total rate of 136.25%.


          With substantial investment income tax rates were "only" 98% in the mid 70s.

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