Options
Top 1% of earners pay 30% of all UK income tax receipts
http://www.dailymail.co.uk/news/article-2451686/Squeezing-rich-How-1-earners-pay-THIRD-income-tax-year.html
http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/10368203/Top-earners-to-pay-third-of-all-income-tax-despite-rate-cut.html
http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/10368203/Top-earners-to-pay-third-of-all-income-tax-despite-rate-cut.html
Highest paid to contribute almost 30% of all income tax in 2013-14
£1million earners pay 12% of tax, up from 6.4% at the last election
Up from just 20% a decade ago as richest shoulder more of the burden
The proportion paid by the top one per cent of earners has risen steadily, hitting 25 per cent in at the time of the 2010 election and 27 per cent last year.
Latest figures from HM Revnue and Customs show those earning £160,000-a-year – putting them in the top one per cent – will pay 29.8 per cent of all income tax.
It has risen sharply in the last decade. In 2003 the same group accounted for just 20 per cent of the total income tax raised.
This year the richest 0.1 per cent will pay 14.1 per cent of all income tax, and the mega-rich earning more than £1million will contribute almost 12 per cent.
0
Comments
Or at least that's what Labour would have their gullible supporters believe.
Isn't this because the tax allowance has gone up to 10k?
Or has this not come into effect yet?
Nope as logically that would reduce the figure. The fact is above a certain level people lose an increasing portion of their personal allowance and eventually all of of it.
For 2013/14 it is £9440, for 2014/15 it will be £10,000
Correct:
Details here: http://www.hmrc.gov.uk/rates/it.htm
Basically for ever £2 you earn over £100,000 your personal allowance drops by £1. So for 2014/15 anyone earning over £120,000 will have no tax free allowance.
Those who can, do. Those who can't, moan about it on the internet,
So what is it it says bearing in mind the population of Blackpool is 142,000?
Wretched Wiki !They said it was 239,000.
Increase the opportunity for wealth and higher incomes of the other 99 per cent and thus taxable income along with it?
So what? The working population is about 30m.
Shh don't talk common sense.
Seems odd to me to extol the virtues of a low and no taxation culture at one end of the income scale and bleat about disproportionate tax burdens at the other.
I've never understood that argument. Are the "other 99%" sitting around saying "there's no point in getting rich because there are already enough rich people. I'll wait until they all leave."
And how exactly can that be done?
Personally I'm for reducing the tax burden.
If you want to redistribute the tax burden, more people need to be eligible to pay tax. I can only see two ways to achieve this:
1. Through increased wealth/income and/or
2,. The lowering of thresholds.
Not sure what you mean by people sitting around waiting for the rich to leave?
More and better paid jobs and/or lowering tax thresholds?
The "and" part is illogical and you haven't explained the how, just restated the what.
That depends entirely on what proportion of the total income they also get.