2 days in and I'm sick of it already, cant we make the forum a politics free zone?
I wondered about posting the following in the rant thread but in order to keep the politics to one thread (of 4767 in this forum, so one could argue that the forum is more politics-free than the roads are Maserati-free) this is the place....
Rant is lying politicians. John McDonnell "The burden in terms of the tax take is falling on middle and lower earners"... and Lady Nugee / Emily Thornbury, wealthy champagne socialist MP also peddling the same line on the "Today" programme - saying that those on average full time earnings of £25k pay their way but the rich (McD classes £70k as rich) don't.
Simply false; the burden is increasingly falling on the top decile of income taxpayers. The (small number of people who earn the) top 1% pay >25%, and the (again fairly small number in the) top 10% pay nearly 60% of income tax; a steadily increasing % of the total income tax take. Now J McD would probably claim that taxes on unavoidable consumption of energy etc to stay alive hits the poorer harder so I looked at the following:
https://www.gov.uk/government/stati...1-to-99-for-total-income-before-and-after-tax
Near the end of the last Labour Govt in 2007-8 a taxpayer on the equivalent point then to £25k now (£20800 income) had a post tax income of £17900 so paid 14% in taxes.
After a long Lib/Con govt in 2014-15 they earned £24900 and had £22100 post-tax income so paid 11% in taxes.
By comparison someone on the 98th centile earned £99900 before and had £71400 after tax (29% tax) in 2007-8 and £11200 before and £78900 after tax in 2014-15 (30% tax).
However these figures will have diverged more now as the hit on the top few % of earners is greater though the stats for 15-16 are not yet out, and will get greater still as e.g. the pension tax relief taper kicks in above £150k, whilst the increase in nil rate band (which doesn't exist for the higher earners of £100-123k) will reduce the tax on the median income earner still further.
The bottom line is that McD and Lady N are lying - tax has reduced significantly for the median earner and increased for the higher earners.
This site is good. The BBC "Reality Check"...
http://www.bbc.co.uk/news/uk-politics-39641222
Still, it matters not what the facts are; post-Trump/Brexit we live in the era of alternative facts - it is just as correct to say that the "rich" don't pay their taxes as it is to say that all the poor are scroungers or that the NHS will have £0.3bn a week more once we leave the EU.