08-03-14, 07:13 PM
(05-03-14, 08:48 AM)alan sherman link Wrote: By a flat rate of income tax I do mean just that. Say 30 percent (remember that ni would be included). The richer don't get a bonus. They do get to keep more of what they have earned. However rich people would still pay more tax than poor people (as it is a percentage).
Which is great if you're rich, you get more money and can afford to save, thus earning interest too.
Unfortunately if you're less well-off, you get screwed because you're having to use a bigger proportion of your income simply to pay day to day expenses and cannot afford to save.