Now, I didn't understand the footnotes in the report about "adjusted income", "restricted income" and "ring-fenced income", so I am no expert in what the report is saying. However, am I right in taking from the report the following: - the objective of the tax regime is to get the wealthy to pay an income tax of 20%? - and this is an objective while people on lower incomes are subject to a tax rate of 41% on some of their income. If I have picked up those two factiods correctly, then my reaction is WTF.
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Now, I didn't understand the footnotes in the report about "adjusted income", "restricted income" and "ring-fenced income", so I am no expert in what the report is saying. However, am I right in taking from the report the following:
- the objective of the tax regime is to get the wealthy to pay an income tax of 20%?
- and this is an objective while people on lower incomes are subject to a tax rate of 41% on some of their income.
If I have picked up those two factiods correctly, then my reaction is WTF.
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