(no subject)

[tinyjo]

Rather nifty little graph on the BBC showing the composite effect of the NI and income tax changes. Personally, I fall neatly into the pretty much no change dip, boringly. Politically, I'm not happy with a tax change graph where the people who pay more are the poorest, while the rich get £200 per year more. Lame.

Comments

[coalescent.livejournal.com]

Unless something massively unexpected happens, by 2008-9 I will be near the point of maximal benefit. Doesn't half leave a bad taste in the mouth, though.

[tinyjo.livejournal.com]

Well, I know what you'll spend it on - chocolate and books! And is that going to simulate the economy, we wonder :)

[phlebas.livejournal.com]

Indeed. It'd be interesting to see the graph scaled by percentage of the population rather than a linear income scale - by using a linear scale and a highish cutoff it's made to look as though the vast majority will do substantially better, though actually the top half of the income scale must contain a fairly small minority of the population.

[tinyjo.livejournal.com]

Yes, I wondered about that too.

[truecatachresis.livejournal.com]

As did I...

I've often wondered in the past about how best to construct an income tax that would be fairer and generate enough revenue, but without the raw numbers of how many people earn what, it's just not been possible...

Personally, I would be a lot happier with a much more progressive income tax, doing away with tax credits, council tax, VAT, etc. I'd like to be able to construct the figures to make it work, but I've never been able to get hold of them.

Regardless, the fact that the left-hand side of that graph is the one that dips is totally wrong. The more I read about tax credits, the more I realise that it's a frankly bullshit method of helping those on low incomes.

I'm also not convinced by a drop in corporation tax and a raise on the tax for small businesses.

income tax

[(Anonymous)]

Hey I should be substantially better off! Garden centre/art shops here I come. Mum

Re: income tax

[tinyjo.livejournal.com]

Alright for some!