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Typical one working parent families face 64% effective tax rate-even millionaires wouldn't be asked to pay that


patslatt

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Typical one working parent families face 64% effective tax rate-even millionaires wouldn't be asked to pay that

See British Tax: Families with one bread winner pay highest amount | Mail Online

The UK and Ireland levy the highest effective top tax rates in the OECD countries on typical families with one working parent earning 75% of the average wage and one parent staying at home with two children. The marginal effective tax rate including loss of benefits,not just the statutory tax rate alone, is 73% in the UK and 64% in Ireland. So if the parent at home takes a job,these super tax rates which even billionaires don't pay,apply.In contrast,France's effective rate is a bit over 20%,suggesting that financially motivated Irish families with one working parent should emigrate immediately to France!

Such high effective tax rate are hostile to families with young children. What is the point of the stay at home parent taking up work unless the pay compensates for the 64% rate? Only the highest paid jobs would compensate but few stay at home parents would qualify for them. Was such a tax rate designed to reduce the number of people looking for work? Or did it result from a socialist attitude that families with two parents working are not deserving of help with the huge expenses of child rearing? Or was it simply typical copycatting of British tax legislation?
 
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stopdoingstuff

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[video=youtube;TYpYs9GBXwY]http://www.youtube.com/watch?v=TYpYs9GBXwY[/video]
 

White Horse

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I have always believed that children should have a tax credit, just the same as any adult.

That tax credit is then surrendered to the parents/guardians until the child is 18 or starts to work.
 

davoid

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I have always believed that children should have a tax credit, just the same as any adult.

That tax credit is then surrendered to the parents/guardians until the child is 18 or starts to work.


That used be the way. Now its confined to kids whose fathers decide they don't want to care for them, so fathers who do are taxed to pay for them.
 

patslatt

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That used be the way. Now its confined to kids whose fathers decide they don't want to care for them, so fathers who do are taxed to pay for them.
An economic incentive for fatherless families!
 

Howya

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I'm struggling to see where their numbers came from - top income tax rate is the UK is 50%and will drop to 45% next year (and yes like in Ireland there is national insurance/prsi etc) but an extra 23%? really?
 

Pat Gill

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I'm struggling to see where their numbers came from - top income tax rate is the UK is 50%and will drop to 45% next year (and yes like in Ireland there is national insurance/prsi etc) but an extra 23%? really?
The source is the Daily Mail, no wonder you struggle.
 

patslatt

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The source is the Daily Mail, no wonder you struggle.
The London Times and the Daily Telegraph also carried the story,which was based on research by the charity Christian Action Research and Education (CARE).
 

southwestkerry

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All the tax in Ireland will not put our issues to rest. Like it or not Pat but the mega rich have clout the rest... we must bow before they almighty and do as they say.
SWK
PS I am myself all for low tax low spend politics.
 
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