"Rich people don't pay much tax" shock

[JohnD]

George Osborne says he was shocked. I wasn't. Were you?

“After finding out that some high earners pay an income tax averaging at just 10%, I had to have a lie down,” he told the Daily Telegraph.

“Seriously, I thought I was going to faint.”

“I was even more shocked to discover that I am the only person in the UK who didn’t know that this was going on.”

“How could I have not known about this?”

“People must think I’m either a liar or incredibly stupid!”

Voters have denied that they think Mr Osborne is either of those things.

“He’s both,” they confirmed.

http://newsthump.com/2012/04/10/uk-...ieve-hes-shocked-at-millionaire-tax-avoiders/

 

[joinerjohn]

Ahh Newsthump, that solid rock of reporting. Have you seen their Sport section?
http://newsthump.com/2012/04/09/pla...wont-play-for-man-city-again-reveals-mancini/

 

[Norcon]

I only read news links if its the daily mail as their the only ones one can believe.

 

[JohnD]

Here you are Norcon.

The Daily Mail says "George Osborne 'shocked' after seeing anonymous tax-returns"

http://www.dailymail.co.uk/news/art...-tax-returns-paying-virtually-income-tax.html

 

[masona]

I always says they are all bad as each other looking after the wealthy and including all the Mp's

More and more rich people even under Blair and Brown as far richer than they have ever been.

Any idea on the next voting local election because I give up, it's the same old story, Labour tax and spend bankrupt the UK - usual pattern then the Tories penny pinching to claw it back, what a mess

 

[AronSearle]

it's the same old story, Labour tax and spend bankrupt the UK - usual pattern then the Tories penny pinching to claw it back

People keep voting for the same 2 parties, then expecting different results = hehe.



As to OP link, I thought a lot of rich people paid almost no income tax, because they pay other taxes (I.E if you are a shareholder you don't get "income" so no "income tax", instead you get capital gains tax or whatever).

I am sure the rich fiddly the books as much as they can, just as much as us poor uns buy duty free, but I instantly get suspicious with figures of "10%".

 

[Brigadier]

I don't pay capital gains tax - does that make me a tax dodger?

I'll bet that the VAT they pay outruns the income tax most pay.

Plus, if they employ people, they'll be paying employer's NI contributions, among other things.

Most of the "rich" in this country nowadays work for it, and so pay tax in one way shape or form - "family money" is probably a very rare thing nowadays.

 

[alumni]

Shocked???
He hasn't seen my tax return yet.