The characteristics and incomes of the top 1%

westernpromise

https://www.ifs.org.uk/publications/14303

The highest-income 1% of income tax payers have about 12% of the
taxable income (for income tax purposes) and pay 27% of all income tax. Income tax is
more top-heavy than the two other biggest revenue-raisers, National Insurance
Contributions (NICs) and VAT, although less top heavy than some other (smaller) taxes,
notably Stamp Duty Land Tax and Inheritance Tax.5 Overall, this small group undoubtedly
pays a significant share of all of our taxes.

Lefties, post enviously here about how much you hate these people, and about how you'd like to make them poor as punishment for paying for all your stuff.

ruperts

Oh those poor poor people with their exceptionally high incomes having to pay a bit of tax. My heart bleeds for them, it really does.

Under this Tory government wages for the many have fallen while the lucky few have just got richer and richer. As a consequence of that they're having to pay a bit more tax. So what? What should we do, bend over for the rich even more than we already do? And then what happens when they get richer still? Bend over some more?

I know the average working class Tory basically places no limit on how much we should all bend over for the rich, but surely even the most cucky among them recognise that people only have so much flexibility? You lot will be putting us in the stocks next with some sort of medieval torture device to part the cheeks.

Have some respect for yourself and stop pandering to people much luckier than you are.

Malthusian

ruperts wrote: »

I know the average working class Tory basically places no limit on how much we should all bend over for the rich, but surely even the most cucky among them recognise that people only have so much flexibility?

"Cucky"? Interesting that the extreme left are adopting the homophobic "low-T" incel terminology popular among the extreme right over the last few years.

Nobody is surprised that the extreme left behaves so similarly to the extreme right - the political spectrum is a circle and meets at the extremes - but it is a point of interest when they imitate each other so blatantly, like a married couple adopting each other's mannerisms.

westernpromise

43% of UK adults do not have an income high enough to pay income tax but even though they pay s0d all tax themselves they're still angry at those who do.

That attitude's a big part of why they're not in the 1% or even the 57%.

PasturesNew

People who do not pay tax aren't shirking their 'responsibilities' - jobs aren't paying enough. The bosses are creaming off every available penny to fund their wife/gf's 300th designer handbag, or to hire a yacht for £10-50k for their 4th holiday of the year.

Everybody'd pay tax if jobs all paid £15k.

So many NMW, zero hours, jobs - and most shop/office jobs these days are simply NMW and never going to reach the tax threshold because there's no incentive/reason for bosses to increase the wages.

20 years ago I had a job that paid £17k.
Today that same firm is paying £17k for that same job.

Since tax credits were introduced for (mostly) families/kids, bosses have simply left salaries languishing until NMW caught them up because "enough people will apply at any rate we pay, after all, they'll get a top up".

Kentish_Dave

ruperts wrote: »

Oh those poor poor people with their exceptionally high incomes having to pay a bit of tax. My heart bleeds for them, it really does.

Under this Tory government wages for the many have fallen while the lucky few have just got richer and richer. As a consequence of that they're having to pay a bit more tax. So what? What should we do, bend over for the rich even more than we already do? And then what happens when they get richer still? Bend over some more?

I know the average working class Tory basically places no limit on how much we should all bend over for the rich, but surely even the most cucky among them recognise that people only have so much flexibility? You lot will be putting us in the stocks next with some sort of medieval torture device to part the cheeks.

Have some respect for yourself and stop pandering to people much luckier than you are.

Bend over for them? The tax and benefits system in the U.K. takes a significant fraction of the output of the most productive workers and simply hands it over to people like you.

A trader in an investment bank on £500k per year will be paying about 45% of that in total on tax and NI, which means that they will be doing their twelve hour days, five days a week, from January into Mid June for your benefit before they earn a penny themselves.

Despite this, you still seem bitter. Why?

You could have done what they do, had you wanted, and planned your life better.

Kentish_Dave

PasturesNew wrote: »

People who do not pay tax aren't shirking their 'responsibilities' - jobs aren't paying enough. The bosses are creaming off every available penny to fund their wife/gf's 300th designer handbag, or to hire a yacht for £10-50k for their 4th holiday of the year.

Everybody'd pay tax if jobs all paid £15k.

So many NMW, zero hours, jobs - and most shop/office jobs these days are simply NMW and never going to reach the tax threshold because there's no incentive/reason for bosses to increase the wages.

20 years ago I had a job that paid £17k.
Today that same firm is paying £17k for that same job.

Since tax credits were introduced for (mostly) families/kids, bosses have simply left salaries languishing until NMW caught them up because "enough people will apply at any rate we pay, after all, they'll get a top up".

Well then I’d suggest that those on minimum wage, if they are of able mind and body, have a good, long think about how they have ended up not being able to earn above the minimum, and to set out making a change for the better.

Some will fail to hit the heights, and some will make it, but one thing’s for sure, if they just slag off the management and bleat about unfairness then they have already fallen at the first hurdle.

In the U.K., if you are not disabled in some way then I just don’t understand how people can end up doing so badly.

Every single last person who I was friends with at my rubbish comp in a mining village is now, a few decades on, doing pretty well. What have the people you speak of been doing with their lives to stay at the bottom of the pile?

westernpromise

I just knew this would provoke a massive, massive outbreak of bilious, entitled envy. You cut the income tax rate to nil for 43% of the population, and all they can do is bellyache about those nasty rich people who are so rich they are rich enough to pay all the income tax for everyone else, the greedy selfish gits.

If only everyone was equally miserable, we'd all be really happy.

lisyloo

Kentish_Dave wrote: »

What have the people you speak of been doing with their lives to stay at the bottom of the pile?

Our parents finished school at 14.
FIL was doing national service.
Neither were capable of improving themselves from factory/supermarket jobs.

Some people just don’t have the capability or didn’t have the opportunities/education that people get today.

Some women didn’t get to go to university for gender related reasons (from asking others the turning point was 1953).

You should not assume that the older generations have had the opportunities that are available today.

Give that I still think there are some people who we will still need to stack shelves, collect rubbish etc. even if we gave everyone a degree level education.

chucknorris

ruperts wrote: »

Oh those poor poor people with their exceptionally high incomes having to pay a bit of tax. My heart bleeds for them, it really does.

Under this Tory government wages for the many have fallen while the lucky few have just got richer and richer. As a consequence of that they're having to pay a bit more tax. So what? What should we do, bend over for the rich even more than we already do? And then what happens when they get richer still? Bend over some more?

I know the average working class Tory basically places no limit on how much we should all bend over for the rich, but surely even the most cucky among them recognise that people only have so much flexibility? You lot will be putting us in the stocks next with some sort of medieval torture device to part the cheeks.

Have some respect for yourself and stop pandering to people much luckier than you are.

Excuse me, but YOU are the one with the attitude here. What's wrong with paying more tax? You seem to have things backwards, I don't mind paying more tax, in fact, I wish I was paying far more tax, because the more tax you pay, the more that you are earning! Think about it, it's hardly rocket science, is it?

Zero_Sum

Without knowing how much tax & on what income so what the rate they pay, its a meaningless stat. Its a classic proving anything with stats tactic.