This will start out as 2% in 2020 but probably be 10% by 2030. That's usually how these things work in the UK.
corporation tax: 30% in 2008, 19% in 2018
zero rate band of income tax: £3000 in 1990, £11850 today (the increase is more than double that of inflation)
This gives money to richer voters because the higher your earnings, the more tax saved. But corporation tax takes money from rather anonymous entities, which of course affects voters too in the end but in a rather indirect way.
a rise of the zero rate equally effects anyone earning above the new zero rate threshold (regardless of how much they are above it [1])
a full time minimum wage employee earning ~£14,000/year gets exactly the same reduction in tax from this specific increase as an engineer on £90,000/year
[1]: once you get above £100,000/year your personal allowance goes down (ultimately to zero)
However I agree that anyone earning over £100K won't be affected because of the peculiar system where you lose the personal allowance in steps over this threshold.
> Personal allowance (zero tax band) raised to £12,500 from April (in the Budget today). This gives money to richer voters because the higher your earnings, the more tax saved.
the conclusion of which is factually incorrect, and unsupported by your linked chart (which includes more than just the increase in the zero rated band)
The fun thing is that total marginal income tax between those two numbers is 60% without counting national insurance.
Could you elaborate?
Also, the Rates scheme only payed by home owners became the Poll Tax levied on all which became the Council Tax levied on all households. Another tory party abomination.
So, taxes everywhere usually see a 500% increase over 10 years? Forgive me if I require some sort of evidence for a claim as extreme as that.
Yes. Yes you did, by nature of what you said and what it was in response to, which is very specifically a case were taxes raised by 500% over 10 years.
> Taxes usually increase.
A ridiculous proposition on it's face, as it would mean over times taxes always get higher. In the United States, Federal income taxes have fluctuated up as high as above 90% over the last one hundred years. It's not that high anymore, so taxes have gone down.[1][2] The UK has similarly seem fluctuations over time, and it's not currently at the highest it's been seen.[3]
> Do your own research.
If you're going to make an assertion, the onus is on you to back it up.
That said, you should be careful what you wish for, because someone might just take you up one it.
1: https://www.businessinsider.com/history-of-tax-rates
2: https://bradfordtaxinstitute.com/Free_Resources/Federal-Inco...
3: https://en.wikipedia.org/wiki/History_of_taxation_in_the_Uni...