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Top 1% Of Workers Pay Quarter Of All Income Tax

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Top 1% of workers pay quarter of all income tax

http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/8321369/Top-1-of-workers-pay-quarter-of-all-income-tax.html

I bet these numbers are wrong.

But if they are not, maybe the proletarian brotherhood should tone it back a bit.

without reading the artilce it sounds like utter cr@p to me

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Since our economy is pretty much designed to transfer all the wealth to the top 1%, paying 25% of all income tax is the least they can do.

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Other 99% get paid practically sod all in comparison.

FTSE executives on 88x their worker's pay.

Wonder what the ratio is to the workers they employ in all the jobs that have been offshored?

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cant be @rsed

If you want to be a left winger, at least be an informed one.

The figure doesn't surpirse me at all and of course gordon brown says NI is not income tax and hence the figure

excludes NI. UK average income is around £24k (depending on figure used), and with tax credits, the net tax

paid becomes quite negligible.

Earning of over £34k ish will take one into top 10% PAYE earner.

Also, there are 3 million officially unemployed, and perhaps another few millions are "unable" to work, and a

few other millions are part timer and a few other million are economically inactive.

Just a finger in the end guess, there are about 30 million people at working age.

Perhaps 6 millions are on JSA or 'unable' to work.

Say another 6 million are in household where 1 partner works and the other doesn't.

Says another 6 million or so on part time job and another 6 million or so on low wages and are not net income tax payer.

So, this leaves abouy 6 million (20% of income tax payers) people who actually pays income tax.

The top 1% of this group are trully off the scale and have other investment/property income etc and would well pay 25%

of total income taxes paid.

If NI is treated as income tax then the picture will be much different as even the lower wages and their emploers pay NI....

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Since our economy is pretty much designed to transfer all the wealth to the top 1%, paying 25% of all income tax is the least they can do.

And the £150bn deficit spending exactly amplify that and those who oppose to the cut won't know what hit them.

All those government contracts and spending goes to the people with the right skills and knowledge, and those also happen to be

the top earners/business/financial instituitions.

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Top 1% of workers pay quarter of all income tax

http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/8321369/Top-1-of-workers-pay-quarter-of-all-income-tax.html

I bet these numbers are wrong.

But if they are not, maybe the proletarian brotherhood should tone it back a bit.

Just a bit of fun, the uk tax system explained in beer :- http://www.castlecourt.biz/UK%20Tax%20System

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Just a bit of fun, the uk tax system explained in beer :- http://www.castlecou...%20Tax%20System

It's a very bad explanation.

In reality, the first four wouldn't be in the pub as they cannot afford beer. If they were lucky enough to find work, they would have to work for over an hour to be able to get a net increase in their income needed to afford a single beer.

The working man (fifth man) doing 40 hours can afford 30 beers at his local and live to the standard of his neighbour on the dole.

The pub goes bust and nobody can have pint in their local anymore. The area becomes run down and crime increases. Unemployment remains high.

The funny thing is, men will work for beer. You could produce 100 litres for £5.93 and exchange it for 100 man hours of labour.

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Since our economy is pretty much designed to transfer all the wealth to the top 1%, paying 25% of all income tax is the least they can do.

Many of these people do very little but passively collect publicly created value and so they would have to pay back more than 100% of their income before you could really consider them to be paying any tax at all. A similar situation exists with benefit claimants. As it stands many in this arena are merely paying back a portion of what they 'collect'. You do have to distinguish, though, not everyone in this bracket is a parasite (but quite a few are). This is one of many reasons income tax is such a dumb idea, it ignores how income is collected

Edited by Stars

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I am not sure if I am reading http://www.hmrc.gov.uk/stats/income_tax/liabilities-january2011.pdf correctly but if I am, the results are quite informative :

- The top 25% earn 54.8% of income and pay 72.3% of total income taxes

- The top 10% earn 34.8% of income and pay 55.5% of total income taxes

- The top 5% earn 25.2% of income and pay 45.3% of total income taxes

- The top 1% earn 12.4% of income and pay 26.6% of total income taxes

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What so this is serious?

Despite the politics of envy, we should not over fark with the wealthy guy because he does contribute?

More than all the idle chavs and their carping cohorts ..?

Maybe someone should be hung?

The top income groups get the money back (and more) because they tend to collect public value in their assets. However the poor don't collect public value in their assets and so they make a net payment

This is one of the failings of a our 'progressive' income tax which actually acts to milk the poor to enrich the rich

Edited by Stars

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Many of these people do very little but passively collect publicly created value and so they would have to pay back more than 100% of their income before you could really consider them to be paying any tax at all.

I totally agree. My previous landlady was a 60something multimillionaire from west London who had inherited a property fortune. Her total contribution to society seemed to involve coming around to our very modest HMO flat once a year and complaining that we hadn't dusted the skirting boards behind the sofa. For this we paid her £18k a year in rent. No doubt she felt most aggrieved at the portion of our rent the government took off her.

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I totally agree. My previous landlady was a 60something multimillionaire from west London who had inherited a property fortune. Her total contribution to society seemed to involve coming around to our very modest HMO flat once a year and complaining that we hadn't dusted the skirting boards behind the sofa. For this we paid her £18k a year in rent. No doubt she felt most aggrieved at the portion of our rent the government took off her.

That is why inheritance tax needs to be increased. The children of the rich get their entire lives paid for and are fed by the hard work of others by the simple virtue of being the child of someone rich. They dont feel the need to work themselves so simply sponge off society just like the lazy benefit claimants.

Edited by blackgoose

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  • 315 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
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      • up 5%



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