Flat Rate Imcome Tax for all

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Flat Rate Imcome Tax for all

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Introduce a flate rate of income tax.

Stop higher tax rate payers avoiding their obligations

The UK’s tax system is over complicated and inefficient. People in higher tax brackets do not pay their fair share of tax as they mitigate their tax liability entitlements through loopholes and deduction arrangements.

So when we say that the rich should pay more tax, in effect through careful financial management they usually pay less!

A flat rate of tax would be a fair system where everyone pays their fair share.

If you earn more you will pay more. 25% of £20k is £5k 25% of £100k is £25k. Can’t get fairer than that.

The Russian Federation is a considered a prime case of the success of a flat tax; the real revenues from its Personal Income Tax rose by 25.2% in the first year after the Federation introduced a flat tax, followed by a 24.6% increase in the second year, and a 15.2% increase in the third year.

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