As you can see from the graph, the idea that the £10 thousand pound personal allowance is about anything resembling fairness is a nonsense. As the graph below shows, those who benefit most from the policy are those on the upper end of the income scale. The poorest sections of the population barely gain at all – barely £6 a year!
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8 Responses to “Distributional impact of 10K personal allowance”
LB
And the distributional impact of 50% taxation?
Of hitting people for extra NI?
And of withdrawal of child benefit?
ie. If you want the rich and middle class to pay for everything, and at the same time deny the rich and middle classes any services, expect them to avoid and evade tax.
Given the 7,000 bn debt mountain, (ONS figures), you’re going to need them.
I suggest not pissing them off.
henrytinsley
You’ll soon be telling us that old story that they’ll all go off to Switzerland or wherever.
henrytinsley
You’ll soon be telling us that old story that they’ll all go off to Switzerland or wherever.
henrytinsley
You’ll soon be telling us that old story that they’ll all go off to Switzerland or wherever.
henrytinsley
You’ll soon be telling us that old story that they’ll all go off to Switzerland or wherever.