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The Sidereal Record Straightener
Posted by muriel_volestrangler in United Kingdom
Mon Jan 05th 2009, 03:02 PM
20% income tax + 11% national insurance + working tax credit tapered at 39% = 70%

So, for someone receiving working tax credit, and in work (eg a single adult at the minimum wage, working 40 hours a week), for every 1 extra they earn, they only get 30p. If that's sufficient incentive to work extra for them, then it should be for high earners (1% national insurance above the upper earnings limit, plus 69% income tax).

Or, let's call it 70%, so that the tax system is just about progressive.
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