I was watching a programme in teh early hours that had a chap on for interview, an economist of some sort. His figures showed (IIRC) the top 1% earned 13% of national income and generated 28% of the national income tax revenue.

we’re not grumbling about the top 1%, ’cause that’s everyone who earnns more than £40,000*

(*made up number)

we’re grumbling about the top 0.001% (600 people in the uk) who get paid millions.

grumble.

putting the left right arguments to one side for a moment. we should all pay the tax that we are due to the legal max, however this tax due is after using all the different ways allowed by the HMRC minimise what you pay. That is the legal max amount you should pay. In may ways we all avoid tax, ISA’s, off set mortgage, company van(pickup) instead of company car, dividend payments, trusts, pension contributions and more. These are all legal and only those without any money, the ill advised or very silly don’t use them at some point. We can rant on and on about the rich using schemes to aviod tax but we will also need to stop avoiding if they do. Personally I find some of these morally indefencable tax avoidance schemes very helpful, especially as I save for my old age.

There is a big difference in the tax saving schemes available to the majority of PAYE employees, and the schemes used by the super rich. The options available to you only account for a tiny percentage of the tax you would pay anyway, and are specificity designed to encourage you to save for your future.

The schemes used by the super rich account for a massive % saving on the tax payable.

What amazes me is that anyone would believe that he is actually going to lamp into himself, his family and his mates and still expect to be welcome at the Bullingdon Old Boys Annual Rugger Buggers outing. Personally, I reckon either that hes a lying twunt, or alternatively TJ’s right and hes not thought it through fully.

I think he will close some of the small loopholes, make a song and dance in the media about it, and con half the nation that he is really their friend, while actually changing very little.