Tuesday, Nov 24, 2009

Poorest 10% pay proportionately more tax than richest 10%

Guardian: Research backs tax rises on top earners

Argues that the wealthiest 10% should be taxed more to address deficit. How many against? 14% (which presumably includes that 10%).

Posted by letthemfall @ 03:25 PM (745 views)
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1. easybetman said...

Heem...so tax them 90% ? Typical guardian thing.

It also depends on what wealth means - is the defined by income, net income or asset?

These are tiny minorities that will raise limited number of money for the government. A low single digit billion, compared to a annual deficit of £150bn+.

The most neat solution is to find a some gold and oil fields on the British Isles. Other than that, get real...

Tuesday, November 24, 2009 04:58PM Report Comment

2. Anon said...

One has to be impressed with the logic on the left:

1. there is a 150bn deficit,

2. and so we should not cut spending,

3. but rather tax the rich,

4. these measures will raise taxes by 27bn,

5. viola! the budget is balanced without cutting spending.

Brilliant!!! Oh, wait, I forgot: out of that 27bn, we should cut taxes
on the poor by 11.5bn leaving 25.5bn in additional revenue. This
doesn't even make a substantial dent in the problem. The level of
cuts necessary is an order of magnitude higher than the proposal.

The amusing thing is that the study itself in its statement disproves
itself. Must be nice to make the big money by publishing such crap.

Tuesday, November 24, 2009 08:41PM Report Comment

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