Tax burde

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 Tax burden on the wealthy trebled since 1970s

Analysis of historic data by the Telegraph reveals that since the 1970’s the tax burden shouldered by Britain"s "wealthiest" has almost trebled.

Today"s top 10% of taxpayers, who earn over £51,400 (which is hardly "wealthy" these days), are paying 59% of total income tax, up from 35% in 1976, while the top 1%, who earn in excess of £162,000 a year, now pay nearly a third (27%) of all income tax, compared with 11% in 1976.

Makes you wonder why you set up in business and try to make a success of it only to be hit with punitive taxes that destroy all incentive.

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