kevin horlocks wand
Well-Known Member
- Joined
- 12 Mar 2016
- Messages
- 9,648
That is not true. The top tax rate is 45% for income above £150,000. No national insurance is payable at 2% that level of income.
Income below that is taxed less.
For example if you earn £150,000 your total tax liability is £59,820, that means your total tax liability is less than 40%.
The liability does rise as you earn more, its up to 45.9% by the time you earn £1,000,000 and 46.5% by time you get to £2,000,000 and 46.8% at £5,000,000
Thats assuming that its all declared as salary, which is unlikely and the taxes on other forms of income are lower
I am well aware that those who earn over £50,000 get taxed as I am one of them.
So basically the top earners pay half of what they earn in tax. They also probably have private health care for their family and send their kids to private school. So as well as putting a fair old whack into the system each year they also do not use public services.
But you know what they should be shot the greedy selfish bastards.