Look North - Our economy.

[chem1st 10]

Just caught the last 10 minutes of Look North - Our Economy, the amount of factual inaccuracy was quite hard to believe.

 

Some silly bint said, "1% of people pay 30% of ALL taxes to HMRC", what she should have said, was, "1% of the population pay 30% of all income taxes", not surprisingly when people are taxed as a proportion of income, the minority whom earn more, pay more in total.

 

She forgets to mention the multitude of other taxes, most of which are highly regressive in nature. And other things which masquerade as 'insurance' but are actually a tax, for example; National Insurance. And of course, inflation, which is also a tax.

 

Did anybody watch it in full? Were there any decent proposals/speakers?

[Hemibr 10]

tv license, Standing charges on utilities. VAT. Duty on fuel and alcohol, Council tax. We are all doomed ....... Only Carol Vorderman can save us

Edited March 20, 2012 by Hemibr

[chem1st 10]

tv license, Standing charges on utilities. VAT. Duty on fuel and alcohol, Council tax. We are all doomed ....... Only Carol Vorderman can save us

 

Michael Unterguggenberger could, if he were still alive.

 

I bet I could, if it wasn't illegal to encourage employment and increase prosperity using the method Michael Unterguggenberger did back in 1931!

 

Which was initially proposed by Silvio Gessel.

 

The powers that be place regressive taxes upon the poor denominated in £FIAT and force them to carry out transactions in said £FIAT.

[Rampent 10]

I only trust Calender for my News.

[Anna B 1,417]

Typical of this type of programme, it just starts warming up, when they 'have to end it there...'

[Rampent 10]

Typical of this type of programme, it just starts warming up, when they 'have to end it there...'

 

I know. Calender should have more time.

[alicefaye123 10]

I have to say this but there are two things in life that are certain, tax and death.

[chem1st 10]

I have to say this but there are two things in life that are certain, tax and death.

 

Tax isn't. But for many it is, seeing as they are forced to trade in a currency which is inflated.

[Tradescanthia 10]

I know. Calender should have more time.

 

 

You should be doing time !! :hihi:

[*_ash_* 88]

Just caught the last 10 minutes of Look North - Our Economy, the amount of factual inaccuracy was quite hard to believe.

 

Some silly bint said, "1% of people pay 30% of ALL taxes to HMRC", what she should have said, was, "1% of the population pay 30% of all income taxes", not surprisingly when people are taxed as a proportion of income, the minority whom earn more, pay more in total.

 

She forgets to mention the multitude of other taxes, most of which are highly regressive in nature. And other things which masquerade as 'insurance' but are actually a tax, for example; National Insurance. And of course, inflation, which is also a tax.

 

Did anybody watch it in full? Were there any decent proposals/speakers?

 

That still doesn't look right, but then these things can be worded differently and come to similar conclusion. As far as I know, the highest 10% earners in the country pay 25% of collected income tax.

 

They could be the same thing, I'm not sure as your figure and my figure draw off different areas (population vs earners).

[chem1st 10]

That still doesn't look right, but then these things can be worded differently and come to similar conclusion. As far as I know, the highest 10% earners in the country pay 25% of collected income tax.

 

They could be the same thing, I'm not sure as your figure and my figure draw off different areas (population vs earners).

 

http://www.thisismoney.co.uk/money/news/article-2107031/UK-Budget-2012-Top-1-earners-contribute-income-tax.html

 

The highest-earning 1 per cent of Britons pay almost 30 per cent of all income taxes, according to research.

The 308,000 on the 50p top rate – who earn more than £150,000 – pay £47billion a year to the Treasury.

Since 2000, the share of tax paid by the highest earners has risen from 22.2 to 27.7 per cent.

 

If they were to earn more, they would pay even more.

 

If the poorest were to earn less (i.e. become unemployed), the top 1% would pay more still. In an equal society, the top 1% of earners would pay the same as the bottom 1% of earners as they would be earning the same.

 

Less than half the people in the UK work...

 

A council tax bill of £700 (After 25% discount and ~ applicable amount for band A property) for a single man in Sheffield under 25 earning a mere £7000 per year must be settled in full. That is 10% of his income.

 

For a man of 40 with a wife in Westminster settling a council tax bill upon a band D property (the bill would only be £684), as a % of a £150000 salary, that would be 0.45% of his income.

 

For the poor man the duty on a beer (pint of 5% stuff) taking into account the current minimum pricing on alcohol (read DUTY) would be 53p, VAT upon that DUTY of 20% would make it ~ 63p. Some 0.009% of annual income. (3.285% of his daily income).

 

For the man on £150k, some 0.00042% of annual income (0.15% of his daily income).

 

For the poor man to drink 10 pints a day, he must spend 33% of his income in beer tax.

For the rich man to drink 10 pints a day, he must spend only 1.5% of his income in beer.

 

Not so long back in the UK everybody drunk beer and only the man worked. He would have a wife and 6 kids to keep in drink. And he could.

 

The man working today for min wage (the poor man) would have to spend more than double his income on providing the clean water (alcohol)!

[*_ash_* 88]

Some silly bint said, "1% of people pay 30% of ALL taxes to HMRC", what she should have said, was, "1% of the population pay 30% of all income taxes", not surprisingly when people are taxed as a proportion of income, the minority whom earn more, pay more in total.

 

[...] I'm not sure as your figure and my figure draw off different areas (population vs earners).

 

http://www.thisismoney.co.uk/money/news/article-2107031/UK-Budget-2012-Top-1-earners-contribute-income-tax.html

 

Yes, I was right. The headline in what you have quoted me says it. What you said the bint should have said is wrong.

 

And it sounds like a Tory statement, that doesn't match your usual posts so I questioned it.

 

Top 1% of earners contribute almost a third of all the income tax paid into Treasury coffers

 

Read more: http://www.thisismoney.co.uk/money/news/article-2107031/UK-Budget-2012-Top-1-earners-contribute-income-tax.html#ixzz1pcUf4Nd3

I thought it was a sensationalistic tabloid newspaper type of wording, but it turns out, you worded it wrong.