Hairyloon Posted October 25, 2010 Share Posted October 25, 2010 No-one thought to question both JFKVsNixon's assertion that the top 1% pay 25% of the nation's taxes - JFK - can you support this with some evidence? Or have you just heard this figure in the pub? There was a survey published not so long back. The figures sound about right. If memory serves, it was quite interesting what the survey didn't say. Link to comment Share on other sites More sharing options...
sharrowman Posted October 25, 2010 Share Posted October 25, 2010 There was a survey published not so long back. The figures sound about right. If memory serves, it was quite interesting what the survey didn't say. Sorry HairyLoon, I'm still not convinced. I read a survey not so long ago said 1% of the richest 2% eat 3% of the poorest 4%'s first born children. Do you have a link to this part remembered survey? I don't Link to comment Share on other sites More sharing options...
Hairyloon Posted October 26, 2010 Share Posted October 26, 2010 Do you have a link to this part remembered survey? I don't http://news.bbc.co.uk/1/hi/magazine/8417205.stm Don't miss the link to the actual data: http://www.hmrc.gov.uk/stats/income_tax/table2-4.pdf Link to comment Share on other sites More sharing options...
Cyclone Posted October 26, 2010 Share Posted October 26, 2010 And how much of the countries wealth do they have? If it is around 25%, then i guess that is fair enough - if (as i suspect) it is more than 25% then they aren't paying their fair share. Note: the only source i have says that they have about "a third" of the wealth, so they should be paying a third of the tax money, minimum. We pay tax on income, not on net assets. Link to comment Share on other sites More sharing options...
Hairyloon Posted October 26, 2010 Share Posted October 26, 2010 We pay tax on income, not on net assets. I believe the figures we were discussing were based on income, not assets. I suspect the divide may be even greater if we looked at assets. Link to comment Share on other sites More sharing options...
Cyclone Posted October 26, 2010 Share Posted October 26, 2010 The rich list is a comparison of total wealth, not of income. The top 1% richest pay 25% of the tax. They also own 1/3rd of the wealth in the country, but that doesn't imply that they receive 1/3rd of the income in the country. Link to comment Share on other sites More sharing options...
Hairyloon Posted October 26, 2010 Share Posted October 26, 2010 The rich list is a comparison of total wealth, not of income. The top 1% richest pay 25% of the tax. They also own 1/3rd of the wealth in the country, but that doesn't imply that they receive 1/3rd of the income in the country. I am not sure what point you are trying to make. The original post: According to the Times rich list, the collective wealth of Britain's 1,000 richest people has increased by nearly a third. (The multimillionaires, 513 of which are based in London, are worth £335.5 billion, up by £77.265billion this year. So the average net income of the top 1000 was £77,265,000. That is less than a million and a half per week. How do they ever make ends meet? Link to comment Share on other sites More sharing options...
Obelix Posted October 26, 2010 Share Posted October 26, 2010 I am not sure what point you are trying to make. The original post: So the average net income of the top 1000 was £77,265,000. That is less than a million and a half per week. How do they ever make ends meet? That's not income, that's a change in net worth. If you own a house and house prices increase by 10% your net worth in the house has risen 10%. That's not income though. Link to comment Share on other sites More sharing options...
dell12 Posted October 26, 2010 Share Posted October 26, 2010 That's not income, that's a change in net worth. If you own a house and house prices increase by 10% your net worth in the house has risen 10%. That's not income though. It is when you sell it though. Link to comment Share on other sites More sharing options...
Obelix Posted October 26, 2010 Share Posted October 26, 2010 It is? And what do you buy the replacement house with? Capital and income are different things. Link to comment Share on other sites More sharing options...
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