• Sun. Apr 11th, 2021

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Trump taxes: A ‘fundamentally unfair’ system?

In the UK, a quarter of those earning between £5m and £10m in income and capital gains paid an effective average tax rate of just 11%,

Prof Advani and Prof Summer found looking at recent tax data. That was not just lower than the official top income tax rate of 47%, but lower than the rate charged on someone earning just £15,000.