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Showing results for tags 'all other taxes were stopped'.
Seeing the other thread about Osborne and tax just got me wondering. Purely hypothetically....... Assuming that the general division and allocation of Income Tax remains the same (i.e the same 'progressive' three bands, for lowest, middle and highest earners) and that the majority of tax is paid by the 'middle class'......and that ALL OTHER TAXES (including NI) were abolished overnight with the total current government revenue to be covered solely by income tax..... Just how high would income tax have to be? Anyone know?