Bloomberg Tax
Jan. 27, 2023, 5:00 AM

You Can’t Stand Still for High Taxes: Merryn Somerset Webb

Merryn Somerset Webb

How much tax do the rich pay? More than you think. The share of income tax paid by the top 10%, 5% and 1% of the working population have all gone up in the last 10 years (under a conservative government constantly being accused of letting the rich off scot free). In 2010 they paid 54.9%, 44.8%% and 26.5%%, respectively. Now they pay 62.3%%, 50.3% and 28.3%. This isn’t because they are earning a larger share of income overall (income inequality in the UK has not been rising). They aren’t.

As independent economist Julian Jessop points out, the percentage shares ...

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