GrannyGravy13
As MaizieD has posted repeatedly taxation does not fund government spending the U.K. could tax the rich at 90% and it would not make any difference to government spending.
However, taxation at 90% would not be an incentive to invest in the U.K.
Life is unfair and unjust, I have no idea what the overall solution is other than increasing the living wage and ensuring that the State safety net works for all who need it.
You must read further than 'taxation doesn't fund spending' GG13. It can also be a mechanism for redistribution of wealth,.
Whichever way you cut it you will find that, on the whole (from ONS figures) the top percentile in the UK pays less in over all taxation than does the lowest percentile. So if we're going down the route that believes that taxation does fund spending, then the richest, on the whole, pay less than the poorest.
Nobody is talking about 90% tax for the wealthy (though it is debateable whether or not that is a disincentive). I started this thread because I was shocked at the conclusions that Burn-Murdoch had reached when looking at the data and though that others might be, too.
I even thought it might cause some reflection on how we can achieve a better standard of living for those not fortunate enough to be wealthy, for everyone in the population,.
Silly me. Instant defence of the rich...
There is no rule of nature that says that a tiny proportion of the world's population has to hog most of its resources. It is not a god given right to be rich. Yet people defend wealth and monopoly of resources as though the heavens would open and the earth swallow us up if it were to be any different.
I really don't understand it.