Mad Minerva
UK: Tax Madness as University Graduates Hand Over Half Their Income
posted Tuesday, 30 October 2007
This sounds rather bad!
Here is a blurb:
| University graduates will have to hand over almost half their salaries to the taxman within five years, according to a report which shows the escalating financial burdens facing young people. The “IPOD” generation of young people who are Insecure, Pressured, Overtaxed and Debt-ridden are the victims of an institutional bias that has tipped the balance between taxation and spending against young people in favour of older generations, the report from the independent non-party think-tank Reform says. It argues that while other developed nations, notably the United States and France, are beginning to address this intergenerational bias and to design their public policy around the interests of young people within an ageing population, the British Government has virtually ignored the issue. |
This is also only adding to my tax-phobia and ongoing conviction that I do NOT support high income taxes. Or high ANY taxes, really. If I earn some income, I want to control what happens to it. I don't want to hand a huge part of it over to the government so it can waste the money or spend it on stupid/corrupt programs that I don't like.
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