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Old 1st Mar 2022, 15:07
  #818 (permalink)  
Red Line Entry
 
Join Date: Apr 2003
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Top 1% of earners pay >28% of tax take.
Not correct.
From the Full Fact website: https://fullfact.org/economy/do-top-...28-tax-burden/

The top 1% are projected to pay about 28% of income tax in 2017/18....Income tax is only a fraction of the total tax take. Over three-quarters of the Government’s income comes from other taxes....There are direct taxes, such as Council Tax, and National Insurance contributions. There are also indirect taxes, such as VAT, Tobacco and Alcohol Duty, and Corporation Tax.

It is much more difficult to say what percentage of these other taxes the top 1% of earners pay. Households earning the top 10% of incomes pay about 27% in total of most direct and indirect taxes, according to Office of National Statistics (ONS) data. This figure has remained roughly constant since 2009/10.

These numbers at least indicate that the top 1% of households would be paying a smaller fraction of total taxes than 27%

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