{"id":47643,"date":"2017-03-11T01:14:35","date_gmt":"2017-03-10T18:14:35","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/its-not-true-that-the-top-1-pay-27-of-tax-letters\/"},"modified":"2017-03-11T01:19:12","modified_gmt":"2017-03-10T18:19:12","slug":"its-not-true-that-the-top-1-pay-27-of-tax-letters","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/its-not-true-that-the-top-1-pay-27-of-tax-letters\/","title":{"rendered":"It\u2019s not true that the top 1% pay 27% of tax | Letters"},"content":{"rendered":"


\nIn her column discussing the budget (9 March), Zoe Williams asserted that \u201cthe top 1% of British earners pay 27% of the United Kingdom\u2019s tax\u201d. No \u2013 this is wrong. The top 1% of earners pay 27% of income tax, but income tax raises just 27% of the UK\u2019s total tax revenue. This is less than is raised by VAT and other indirect taxes (29%) and not much more than is raised by national insurance (19%).By contrast with income tax, national insurance and indirect taxes are regressive, not progressive. We have no coherent data about the proportion of total taxes paid by the top 1% of individuals, but the top 10% of households pay 27% of all taxes. The three deciles below them, the real middle class by income, pay 40% of all taxes. Equating tax with income tax alone is dangerous as well as wrong because it serves to justify the self-interested domination by the real elite by\u00a0wealth and income of British fiscal policy and politics in general. Continue reading…
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\nSource : theguardian.com
\nRead more…It\u2019s not true that the top 1% pay 27% of tax | Letters<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In her column discussing the budget (9 March), Zoe Williams asserted that \u201cthe top 1%...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-47643","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-cor","jetpack-related-posts":[{"id":81888,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abolish-income-tax-bands-to-give-earners-1100-ippr\/","url_meta":{"origin":47643,"position":0},"title":"Abolish income tax bands to give earners \u00a31,100 \u2013 IPPR","date":"March 5, 2018","format":false,"excerpt":"\r Merging NI, scrapping thresholds and introducing individual rates will make taxation fairer, says thinktankIncome tax bands could be scrapped to give average earners as much as \u00a31,100 each without costing the government a penny, according to a report calling for radical changes to make theUK tax system fairer.According to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":56150,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tax-on-test-do-britons-pay-more-than-most\/","url_meta":{"origin":47643,"position":1},"title":"Tax on test: do Britons pay more than most?","date":"May 27, 2017","format":false,"excerpt":"\r We examine how the average burden on British people earning \u00a325,000, \u00a340,000 and \u00a3100,000 compares with taxes paid by similar earners in Europe, Australia and the USLabour\u2019s plan to tax incomes over \u00a380,000 more heavily is a \u201cmassive tax hike for the middle classes\u201d that will \u201ctake Britain back\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":32645,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abolish-20-taxes-and-set-15-flat-rate-of-income-tax-in-uk-says-report\/","url_meta":{"origin":47643,"position":2},"title":"Abolish 20 taxes and set 15% flat rate of income tax in UK, says report","date":"November 2, 2016","format":false,"excerpt":"\r Institute for Economic Affairs says changes would make those at top 13% better off, but incomes of those at bottom would rise 26%National insurance, business rates, stamp duty, the TV licence fee and excise duties on alcohol and tobacco should be among 20 taxes abolished by the government, a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11982,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/george-osbornes-great-income-tax-pretence-letters\/","url_meta":{"origin":47643,"position":3},"title":"George Osborne\u2019s great income tax pretence | Letters","date":"May 5, 2016","format":false,"excerpt":"\r Now that April pay slips are appearing, the government\u2019s posturing about cutting taxes and helping \u201chard-working families\u201d is being shown to be a complete falsehood. My partner is a middle manager in the public sector. She has received a 1.2% pay rise and an increased income tax personal allowance,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117824,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capital-gains-tax-review-your-questions-answered\/","url_meta":{"origin":47643,"position":4},"title":"Capital gains tax review: your questions answered","date":"July 16, 2020","format":false,"excerpt":"\r All you need to know about CGT and the possible outcomes of the chancellor\u2019s surprise reviewIs capital gains tax (CGT) going to rise dramatically as the government attempts to claw back the cost of extra spending during the coronavirus pandemic? 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