A quarter of all of Britain's income tax revenues this year will be paid by just one per cent of earners, according to official data.I wonder who these "experts" are, especially when in the very next sentence we're told that tax rates went up. Lefties, you gotta love 'em.
The figure is in sharp contrast to 1978, an era associated with supertaxes, when the top one per cent paid 11 per cent of all the tax revenues.
Experts suggested the projections, published by HM Revenue and Customs, was evidence of how the rich had got richer over the last three decades, while the tax burden on them had increased substantially in recent years.
The new top rate of 50p income tax rate came into force in April 2010, landing a small number of people with the highest rate of income tax since 1988.
Monday, February 14, 2011
A Progressive Tax System
This is progress???