Nick Makiaveli, on 05 June 2016 - 12:57 PM, said:
Taxation is theft. But don't worry, the US is working hard to catch up with you guys!
agreed, but I understand why it is needed,
income tax is 20% on anything earned between £11,000 and £43,000, 40% on £43,k-150k (I would love to be earning anywhere near enough to have to worry about that, but am not quite earning half that) and an extra 5% on anything over £150k per year, we then pay 20% Value Added (should be called value removed not added but try arguing that with a politician) Tax on "non Essential" purchases, but that does not account for the extra 10% cost
there are many other taxes including fuel tax which currently makes up more than half the price of petrol and you get charged VAT on top of that, so half the VAT you are paying on petrol is tax on a tax,, making the cost of fuel about 70% tax, and the rate rises every year.
I am pretty sure in total at least half of what you earn in the UK is spent on taxes.