The taxation system in the UK is truly insane. A gargantuan screw up.
Insane Tax System.
In
2 responses
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I reckon the one thing which has not been tried correctly in the U.K. may actaully work; and that is a true flat tax system. Being a fairly uncomplicated man myself, I think that a flat tax sysyem, with no favours or special benefits for anyone at all, barring the standard individual’s allowance, would work, and it would release for more ethical work all the Inland Revenue civil servants who are employed to help gouge the money out of our wallets right now!
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This situation is pretty much unavoidable if you wish to guarantee citizens a minimum income.The only way out of it would be to withdraw the benefits at a much slower rate, but this would be prohibitively expensive.
Flat-tax advocates rarely go past the stage of stating it would be a cure-all, but I think most would still maintain some social spending safety net, so the problem would remain.
Tim adds: Both I and Chris (who I linked to) would advocate a Citizens Basic Income. I wouldthen have a flat tax on top of that. Thus there is no benefit withdrawal at all and much lower marginal tax rates.
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