Lib Dem Voice (and other Lib Dem bloggers) have rightly highlighted the Office of National Statistics report that shows income inequality is now lower than at any time since the mid 80s. And it is partly down to the Lib Dem policy of taking low paid people out of income tax altogether.
But buried in the report (on page 7) is the following table showing the effective rates of tax for each quintile of the population:
What it basically shows is that each section of the population pays about 35% of their income in tax - effectively a flat tax. Something this blog first discussed more than two years ago.
But buried in the report (on page 7) is the following table showing the effective rates of tax for each quintile of the population:
What it basically shows is that each section of the population pays about 35% of their income in tax - effectively a flat tax. Something this blog first discussed more than two years ago.
No comments:
Post a Comment