Tuesday, March 15, 2005

Here is an interesting fact that I read in the "New Statesman" last week in an article titled "The New Statesman Bling Bling List",

Taking into account council tax (which is graded but not in line with wealth) and VAT and other indirect taxes paid at a flat rate, the top fifth in the income scale pay a smaller proportion in tax (34 per cent) than the bottom fifth (42 per cent).

I think that is disgusting and makes me think that the Liberal Democrats plan to have a 50% income tax on income over £100,000 seem an even better idea than I originally thought. Shame they are unlikely to get into power.