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thepeel
Joined: 08 Aug 2004
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 Posted: Tue Mar 06, 2007 2:25 am Post subject: 47.9% Income tax in UK |
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Middle income families are being hit hardest by Gordon Brown's taxes which will rise to their highest level for 25 years in two years' time, an influential think tank claims today.
The report from Reform, a centre-Right group, warns that the Chancellor must cut taxes and spending in this summer's Comprehensive Spending Review or "take the UK backwards in the next decade".
Its report reveals how middle income earners are paying more tax as a proportion of their disposable income.
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A household receiving �28,000 a year in disposable income pays 47.9 per cent of that in tax, while earners in the top income bracket pay 46.9 per cent.
The report says: "Middle income groups - benefiting from neither tax credits nor upper income tax allowances - have the highest effective tax burden. Better-off people are able to access better services, crucially including education." |
http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2007/03/05/ntax05.xml
Thats far too much. Isn't it? |
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thepeel
Joined: 08 Aug 2004
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| Posted: Tue Mar 06, 2007 2:38 am Post subject: |
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Keep in mind that that is only the beginning of taxes.
When you buy a loaf of bread, the taxes (income, and taxes they pay that raise their cost of living and thus their compensation needs) paid to all the workers who worked to create your bread are built into the price of bread. Also, the taxes involved in buying and running the machines (VAT's etc and petrol taxes) are another level of taxes built into your bread.
And then most states make you pay a VAT on top of all the other taxes (though, maybe not for bread). It is impossible to calculate the total tax burden, as every machine we use has the effects of taxes built into the price, and these costs will be distributed unequally over time throughout all purchase products made from it.
Then, take into account property taxes for municipal governments (or others, in some systems) and that will raise the prices everywhere from the store to the land the wheat was grown on.
My point for this rant is that this has gotten out of hand. It is just silly, how much we pay and how willingly we pay. While it is impossible to precisiely figure out, I cannot imagine that for most Western nations the total tax paid in all ways (VAT, property, income, and increased prices) is any less 70% of total income.
And to all this, we can add inflation as the final tax.
It is all a scam. If you took all the sub-par "services" governments offer, and they said it would cost maybe 70% of your income all told, would you accept it? I wouldn't. |
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igotthisguitar
Joined: 08 Apr 2003
Location: South Korea (Permanent Vacation)
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| Posted: Wed Mar 07, 2007 12:01 am Post subject: |
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A central plank to the FAT CATS' communist agenda.
Incremental income tax all started around the time of WW1 founding of the U.S. Federal Reserve ( owned & run out England ). Of course it was only supposed to last the length of the "WAR to end all WARS" 
Canada is pretty much the same isn't it?
Just imagine where it will be in 50 years 
http://reactor-core.org/none-dare.html |
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