In the UK in 2011 it is estimated that on average the state takes 53% of GDP in taxes, so the average man is working from January the 1st to 30th May for the country and not for himself.
So from today you can finally earn money for yourself, what a relief. Of course there's an awful lot of people not working at all but let's not depress ourselves unduly on what should be a joyful day - free at last!
So from today you can finally earn money for yourself, what a relief. Of course there's an awful lot of people not working at all but let's not depress ourselves unduly on what should be a joyful day - free at last!
2 things wrong with that. First of all 1 January to 30th May is not 53% of the year. That would take until the 12th of July.
ReplyDeleteSecondly, unlike the US, where this sort of analysis started, the fiscal year does not start on the 1st of January, but on the 6th of April, which means you will be working for the government until the 15th of October.
I understand your point re the 53% and the date issue but for reasons that I honestly don't get the Adam Smith Institute say the day is 30th May; who am I to argue?
ReplyDeleteI accept what you say about tax year as opposed to calendar year, but most people don't really know that the tax year starts on 6 April and the 5 month figure works better from 1 January than 6 April.