Rich and poor tax paymemts

[Beso]

Would i be right in saying the top 5 percent pf earners pay like 90 percent of taxes while the lower 95 percent pay the other 10?

[user104658]

Would i be right in saying the top 5 percent pf earners pay like 90 percent of taxes while the lower 95 percent pay the other 10?

No.

[Beso]

No.

Any idea of the figures? I am sure i heard this on telly over the weekend.

Is it 74 percent?

[user104658]

Any idea of the figures? I am sure i heard this on telly over the weekend.

Is it 74 percent?
I don't know the exact figures, I know that the top 10 thousand earners pay more than the bottom 10 million, but that's largely because most of the bottom 10 million fall outside of the lowest income tax bracket and so pay none.

Its a misleading figure though because it only applies to straight up income tax, which makes up a relatively small part of the "tax pie". National Insurance and VAT make up a much larger chunk.

[ebandit]

http://www.independent.co.uk/news/uk/politics/the-graph-that-shows-how-the-poor-are-paying-more-than-the-rich-in-tax-10353982.html

is it true that all tax payers qualify for similar tax free allowance

above suggests that poor pay a larger proportion of tax..............but i guess? it must be
remembered that is shared across a greater number

Mark L

[user104658]

http://www.independent.co.uk/news/uk/politics/the-graph-that-shows-how-the-poor-are-paying-more-than-the-rich-in-tax-10353982.html

is it true that all tax payers qualify for similar tax free allowance

above suggests that poor pay a larger proportion of tax..............but i guess? it must be
remembered that is shared across a greater number

Mark L

This isn't about overall figures, it's about how much people are paying in relation to their overall income.

https://image.ibb.co/gtGokk/1ttax.jpg

The above shows what I was talking about though... lower income groups get ****ed over by NI and indirect taxation like VAT and fuel, but people only tend to look at direct income tax.

[waterhog]

if its true - think how well they are doing if they can survive wages

[Beso]

I heard it on some debate programme sorry for being unsure on the figures but they did leave me open mouthed.