Tuesday, April 21, 2009

Progressive taxation shocker !

Britain's middle classes 'face stealth tax'

Utter idiocy, by and large, but does contain one of our favourite subjects, the mythical average wage: £24,292, according to these muppets. £80k-90k average house price here we come then..

Posted by ski @ 08:11 AM (855 views)
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3 thoughts on “Progressive taxation shocker !

  • Avarage earnings includes retired folks pensions.

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  • £24k sounds like a plausible full-time average (median).
    I’ve seen £35k quoted as the mean average – however that’s meaningless (pun intended) because a small number of very rich people skew the figures.

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  • Also, lets not forget where the 40% tax band kicks in.. In other words, someone living in a modest terraced house costing in a ‘Coronation Street’ setting, costing say, £160,000, would need to be a higher band tax payer to be even close to affording the mortgage (current very low interest rates excepted). They would need to be earning 40,000 or, if a partnered purchase, jointly about that. And what happens when interest rates go up! Or when Gordo increases the 40% take on so-called ‘high earners’!! This, above all else, illustrates the sheer lunacy of current house prices.

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