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Re: Way OT: RE: @Home's 119 domain names up for sale

  • From: Andy Davidson
  • Date: Fri Aug 12 12:51:25 2005

Hi,

With apologies to the topic fairies ..

Crist Clark wrote:
It matters how you look at income taxes (figures never lie, but
liars figure). The top 3% of earners pay about 40% of all income
taxes. The top 1/12% pay about 10% of the taxes. Why do the super
rich guys want a flat tax? And the other obvious problem, you pay
a lot of taxes, probably more than you realize, besides income tax.
The top few percent will pay a lower _percentage_ of their income to the government in tax than a middle earner would (a high earner will typically save more, or in other words their marginal propensity to save is higher) - they are also able to save more and afford better accountants who will help them avoid paying tax !

In the UK, income tax is hugely regressive - a middle earner may end up paying 51% of some proportion of their income in direct tax alone (combining NHIS contributions and income tax) - this then falls to 41% (combined) when the NHIS contributions hit a certain level. The tax burden on high earners is further reduced when one considers that indirect sales tax in the UK is 17.5%.


-a




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