Tamra wrote: <I maybe wrong but I think that when Margery said it took full 5 months (on average) to pay off the taxman in UK, only the *income tax* was being considered, not the VAT on goods or any other hidden taxes...>
You're wrong. No-one pays more than 40% in income tax. We get all get an allowance below which we pay no income tax (for the coming year GBP 4,895 for all between the ages of 18 and 65, GBP 7,090 for over 65s, a bit more for over 75, a bit more if you're blind, etc). We pay income tax on anything over our personal allowance at 10% for the first 2,090, 22% between 2,090 and 32,400 and 40% on anything over 32,400. So someone would have to be earning 37,295 to pay any income tax at 40%. Then there are allowances (called by various names) if you have children or dependent relatives. National Insurance which is paid at 11% on *earnings* between 82 and 630 GBP per week. If you earn under 82 you pay nothing, if you earn over 630, you still only pay 11% of 630. You only pay this if you're in employment. If, like me, you're retired or you're a mother looking after children, you pay nothing but still get treated as if you were paying. That pays for health treatment, drugs, sick pay, state pension, maternity allowance and a whole load of other stuff. A lot of the tax we pay is made of so-called stealth taxes on alcohol, tobacco, petrol (we'd love to have US petrol prices), local services, VAT, inheritance tax at 40% on anything over 275,000 of a deceased person's estate, etc. Tax Freedom Day is worked out on an average, so some people will get there before others depending on their circumstances. Jean in Poole To unsubscribe send email to [EMAIL PROTECTED] containing the line: unsubscribe lace-chat [EMAIL PROTECTED] For help, write to [EMAIL PROTECTED]
