Higher rate taxpayers will shoulder the burden of two thirds of Britain’s entire tax bill by the next election even though they represent just 16 per cent of the population, according to official figures.
People hit by the 40p and 45p rate will pay 67 per cent of Britain’s total tax bill by 2014/15, despite being outnumbered by lower paid workers at a rate of one to five.
Income tax in total isn’t even 67 % of the total tax bill.
Might well be that higher rate payers will pay 67% of the total income tax bill: but I’m fine with that, sorta the point of having a progressive income tax. Indeed, in my wilder moments I’m happy with the idea of no one on less than median income paying any income tax at all. That would certainly lead to a shrinking of the State.