Low economic growth is a slow-burning crisis for Britain

Re:Low economic growth is a slow-burning crisis for Britain by NoFingerprints on Sunday June 12, 2022 @03:18AM (#31712341)

Can you give an example of these? The only example I can think of is where you loose some child benefits when entering certain income levels. Even when you go above the £100k income the effective tax rate becomes 60% until £125k. You still get 40% of the income?

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Re:Low economic growth is a slow-burning crisis for Britain by sph on Sunday June 12, 2022 @08:38PM (#31719693)

Your figures are incorrect. At 100k per year your effective tax is a little less than 35%, not 60%. Your net income would be about £65,000.

I'm surprised by the amount of tax illiteracy shown in these comments.

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Re:Low economic growth is a slow-burning crisis for Britain by gpderetta on Friday June 17, 2022 @09:01AM (#31777470)

parent was talking about the marginal tax rate of course, which is what is relevant to the discussion.

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Re:Low economic growth is a slow-burning crisis for Britain by tebbers on Sunday June 12, 2022 @04:10AM (#31712634)

Would you bother working if you’re losing more than half of your income before other taxes like VAT kick in?

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Re:Low economic growth is a slow-burning crisis for Britain by orwin on Sunday June 12, 2022 @06:11AM (#31713368)

Yes? I mean, i wouldn't work more than 40 hours a week whatever my salary is, but my bonus this year was taxed at 55% and i still would have done the work i did to get it.

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