Quote:
Originally Posted by Sephiroth
I did show in my example that a person earning £1 million per annum would pay 44% in income tax. I did not take into account any tax wheezes because I believe that government should legislate properly to close down tax avoidance schemes.
I hear you say "Exactly". I further hear you think "never would a Tory government close the loopholes" and you'd prolly be right because they've done bugger all since 2010. Furthermore, I hear you think, "it's their donors that the Tories are protecting". All of the foregoing are valid criticisms.
Now I'll ruin it all: John Redwood put forward a plan a few years ago that also has merit. https://johnredwoodsdiary.com/2012/0...-the-rich-pay/
|
Seph, I am not sure if you are doing this deliberately but you keep referring to Income Tax in your responses. You know very well that the ultra wealthy do not accrue wealth via "income", rather they use other, more tax efficient, vehicles which attract far lower tax rates, if indeed they pay tax at all.