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.
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chiming
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Date: March 22nd, 2007 05:01 pm (UTC)From: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.