Here's the truth. The proposed top rate of income tax is not 50 per cent. It is 50 per cent plus 1.5 per cent national insurance paid by employees plus 13.3 per cent paid by employers. That's not 50 per cent. Two years from now, Britain will have the highest tax rate on earned income of any developed country.
Andrew Lloyd WebberRelated topics
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There is an utter ignorance of, and indifference to, our sufferings and privations.... What care they for us, provided we be submissive, pay the taxes, furnish recruits for the Army and Navy and bless the masters who either despise or oppress or combine both? The apathy that exists respecting Ireland is worse than the national antipathy they bear us.
Daniel O'Connell
First, the oil and gas business pays its fair share of taxes. Despite the current debate on energy taxes, few businesses pay more in taxes than oil and gas companies. The worldwide effective tax rate for our industry in 2010 was 40 percent. That's higher than the U.S. statutory rate of 35 percent and the rate for manufacturers of 26.5 percent.
John S. Watson