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-   -   Top 1% of Earners contribute 30% to UK income tax (https://www.cableforum.uk/board/showthread.php?t=33695364)

Pierre 10-10-2013 10:41
Top 1% of Earners contribute 30% to UK income tax
 
I was just listening to Jeremy Vine do the prologue for his show with Ken Bruce on Radio 2, and he came up with the above fact that those earning £150K and above (the top 1%, I would have thought there were more than 1% in that bracket but what do I know) contribute 30% of the overall UK income tax burden.

And he pronounced this as some sort of revelation.

So I did a quick google, as I'm sure I had heard this before. and low and behold:

http://www.thisismoney.co.uk/money/n...ncome-tax.html

This was first reported over 18 months ago..................

Ramrod 10-10-2013 11:53
Re: Top 1% of Earners contribute 30% to UK income tax
 
Perhaps the left whingers here will stop calling for more taxes for the better off......but I'm not holding my breath....:rolleyes:

tizmeinnit 10-10-2013 11:59
Re: Top 1% of Earners contribute 30% to UK income tax
 
lol and how much exactly do the top 1% earn per annum and how much tax do they avoid? you are probably talking people earning more than footballers

Damien 10-10-2013 12:01
Re: Top 1% of Earners contribute 30% to UK income tax
 
Quote:
Originally Posted by Ramrod (Post 35630274)
Perhaps the left whingers here will stop calling for more taxes for the better off......but I'm not holding my breath....:rolleyes:
Why would they? Not much would change upon realisation of this statistic.

tizmeinnit 10-10-2013 12:04
Re: Top 1% of Earners contribute 30% to UK income tax
 
Quote:
Originally Posted by Damien (Post 35630278)
Why would they? Not much would change upon realisation of this statistic.
it is not like something we did not know. It is all well and good quoting this statistic without the rest of the stats to quantify it

Ok this one % that pays all this tax most likely earn 70% of all the money earnt

Edit the report does. Those who earn £3000 per week or more pay the 50p tax so the poor blighters only get 75 k or more a year to live on how do they cope

and before anyone says they earn it all I have to say is Bankers

Stuart 10-10-2013 13:02
Re: Top 1% of Earners contribute 30% to UK income tax
 
Quote:
Originally Posted by Ramrod (Post 35630274)
Perhaps the left whingers here will stop calling for more taxes for the better off......but I'm not holding my breath....:rolleyes:
While I don't believe the rich should be penalised as such, it's worth pointing out that if you earn over £150,000 you can still have a nice life on the remaining salary after income tax (even at the highest rate). If you are earning under £20,000, paying income tax may mean you have to skip things so your family can afford to eat.

That's one thing the figures fail to take into account. Another is the amount people earn. The rich have become excellent at tax dodging so while they still pay the higher rate of income tax, they only do it on a fraction of their income, the rest being diverted to off shore companies.

Not all rich people are like that, I'll agree. Some do pay their taxes (I have one cousin who is in the six digit salary group, possibly 7 and considers that because the country helped him, in the form of benefits, when he and his family needed it, he owes the country). Over the years the tax he has paid has paid for the benefits claimed dozens of times over, but he is happy with the thought the money might be helping someone else in his situation.

If just one rich person stopped offshoring 10s of millions of pounds a year and actually paid tax on the FULL amount of their income rather than a fraction of it, how many people would that benefit? The money could pay to keep several schools operating, and upgrade them with state of the art equipment. It could probably build a couple of hospitals.

martyh 10-10-2013 13:29
Re: Top 1% of Earners contribute 30% to UK income tax
 
Quote:
Originally Posted by tizmeinnit (Post 35630275)
lol and how much exactly do the top 1% earn per annum and how much tax do they avoid? you are probably talking people earning more than footballers
We are talking anyone earning over 150k and before you start slagging off people on such a wage remember that is not such a high wage as you think and many have worked hard and paid a lot of money to be in that position .

tizmeinnit 10-10-2013 13:47
Re: Top 1% of Earners contribute 30% to UK income tax
 
Quote:
Originally Posted by martyh (Post 35630320)
We are talking anyone earning over 150k and before you start slagging off people on such a wage remember that is not such a high wage as you think and many have worked hard and paid a lot of money to be in that position .
not such as high a wage as I think lmao pmp

---------- Post added at 14:47 ---------- Previous post was at 14:46 ----------

Quote:
Originally Posted by Stuart (Post 35630305)
While I don't believe the rich should be penalised as such, it's worth pointing out that if you earn over £150,000 you can still have a nice life on the remaining salary after income tax (even at the highest right). If you are earning under £20,000, paying income tax may mean you have to skip things so your family can afford to eat.

That's one thing the figures fail to take into account. Another is the amount people earn. The rich have become excellent at tax dodging so while they still pay the higher rate of income tax, they only do it on a fraction of their income, the rest being diverted to off shore companies.

Not all rich people are like that, I'll agree. Some do pay their taxes (I have one cousin who is in the six digit salary group, possibly 7 and considers that because the country helped him, in the form of benefits, when he and his family needed it, he owes the country). Over the years the tax he has paid has paid for the benefits claimed dozens of times over, but he is happy with the thought the money might be helping someone else in his situation.

If just one rich person stopped offshoring 10s of millions of pounds a year and actually paid tax on the FULL amount of their income rather than a fraction of it, how many people would that benefit? The money could pay to keep several schools operating, and upgrade them with state of the art equipment. It could probably build a couple of hospitals.
I agree with you :)


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