Malthus • User • The Register Forums

UK.gov isn't ready for no-deal Brexit – and 'secrecy' means businesses won't be either

Wednesday 19th September 2018 20:07 GMT Malthus

Re: Hmm

Totally agree. This has been the plan all along, Farage spends years claiming EU is source of all evil. Incompetent politicians blame EU for their own folly. Leave campaign supported and funded by Putin. Result is selling of UK to USA. Why? To weaken the EU, win for Putin, win for Trump, both benefit from weaker EU. Trump gets to asset strip UK and can continue to play his trade wars without opposition from EU negotiation strength. Putin can expand his empire again in eastern Europe. Ordinary Europeans get screwed. Neither of those "superpowers" cares a jot.

2 1

Non-doms pay 10 times more in income tax than average taxpayer group

Wednesday 14th September 2016 19:22 GMT Malthus

Re: On a related note

Yes top earners pay approximately 45% of their total income in direct income tax. Since it's proportional to income those that receive less income pay proportionally less tax. Summing the %tax paid by the total numbers in each tax percentile shows that the richest are always paying proportionally more than any other group per tax percentile irrespectively of the total earnings of each percentile. It is straightforward maths. If you doubled the top tax rate to 90% (and yes its has peaked before at 97.5% in the UK) then the top 1% would be paying approximately 60% of the total if other people paid less and the total tax remained the same.. Previous experience shows that this just doesn't work. People stop working.

On another note the assumptions people are making are that it's the bosses at the top of large companies that are making the most. How about musicians, writers, owners of businesses that grow, i.e. people that have worked successfully and grown careers for a few years final payments, do you know who are in this top 1%. After all globally, everyone in the UK (yes everyone) is in the 1%.

4 1