Originally Posted by
777JRM
Indeed.
In fact, between £100-122k, the effective tax rate is as high as 62%.
Some people consider this as ‘fair’.
The fairest idea might be a simple ‘flat-tax’ policy.
Anyway, back to the thread!
The problem with this is that a lot of tax, like council and road tax, is not based on income and higher incomes also have more deductibles. A fixed percentage will thus effectively lead to higher incomes paying an even lower effective percentage.