do you fore see a time when every thing we pay out for,such as fuel,car tax,tv licences,rates, etc. will reach a point where it can go no higher.?

how much of a percentage is left out of a pound once you pay your percentage of duties ?

no way. But don't worry the government will always come up with more more creative taxes for our enjoyment! It can also get beyond 100% of every £1 earnt by taxing us again and again on the same income. Save up for a deposit on a house by paying tax on your earnings, pay stamp duty on the house, pay vat on materials used on the house and then pay death duties on it when you die...fun or what

Originally posted by dudu
no way. But don't worry the government will always come up with more more creative taxes for our enjoyment! It can also get beyond 100% of every £1 earnt by taxing us again and again on the same income. Save up for a deposit on a house by paying tax on your earnings, pay stamp duty on the house, pay vat on materials used on the house and then pay death duties on it when you die...fun or what

don't be daft, it can't exceed (or even reach) 100% of our income otherwise we would be unable to live.

As a % I doubt the tax burden has changed much over the last 40 years.
However the cost of living has dropped significantly and our GDP/capita has increased (even when adjusted for inflation). Basically we are more well off on average today than we were 50 years ago, and a lot better off than we were 100 or 200 years ago.

don't be daft, it can't exceed (or even reach) 100% of our income otherwise we would be unable to live.

all i mean is that same £1will get taxed time and time again during a lifetime - of course this ignors inflation!

I think we pay far less tax now as we have a far more effective economy than ever before and do enjoy a far higher quality of life cause of chaep goods etc.

But prices / taxes will never hit a ceiling because of an ageing population meaning fewer workers and the cost of oil will continue to rise as supply falls leading to higher costs of goods. We've got it pretty good at the moment.

what does the price of oil have to do with tax?

£1 will be taxed time and time again???

No, it will be taxed at a few specific points, after which you've spent it. And it's no longer your worry.

Originally posted by Cyclone
No, it will be taxed at a few specific points, after which you've spent it. And it's no longer your worry.

The only worry is if you only get tuppence worth of goods out of it!