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

[zeitghost]

Curious since the highest rate of tax in the 1970s was 98%.

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.

[vetran]

Not if they relocate their businesses to Germany.

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

[BlasterBates]

funded by rich people's taxes?

Not if they relocate their businesses to Germany.

[vetran]

Difficult to work if there are no roads, offices or telephone lines.

just saying

funded by rich people's taxes?

[AtW]

Curious since the highest rate of tax in the 1970s was 98%.

It's fooked up man!

[vetran]

Curious since the highest rate of tax in the 1970s was 98%.

no one paid it, they all moved abroad.

Guess who repeated it?

https://www.harriman-house.com/press/full/327/

[d000hg]

A natural effect of the growing wealth gap (rich get richer, etc) is that the very richest are proportionally richer now than they were before, so the tax is more concentrated higher up the food chain.

[BlasterBates]

Just occured to me that a leftwing and a rightwing utopia have a lot in common. In a leftwing utopia no-one can be bothered to collect the fruit from the fields because they're all living on benefits, in a rightwing utopia no-one collects the fruit because of immigration controls.

[BrilloPad]

I bet the amount of disparity between incomes has gone up by way more.

[northernladyuk]

Vote them Tories - get lower taxes!

At least they've stuck to their promise on no rise in NICs.

[AtW]

Vote them Tories - get lower taxes!

[northernladyuk]

Tax paid by the top 1% has trebled since the 1970s | Daily Mail Online



Good job we aren't importing lots of low paid people

The labour of low paid people creates wealth for the rich, who then pay tax on their income.

[BlasterBates]

Difficult to work if there are no roads, offices or telephone lines.

just saying

[vetran]

Tax paid by the top 1% has trebled since the 1970s | Daily Mail Online

Tax paid by the top 1% has TREBLED since the 1970s and they now pay almost 27% of all income tax
Analysis of income tax records shows the top 1% per cent pay 27% of income tax
In 1976, the top 1% of earners paid just 11% of the income tax to the Treasury
Almost all income tax in Britain is paid by those on more than £51,400 a year

Good job we aren't importing lots of low paid people