This is an excellent deep dive by @danneidle.bsky.social on a subject I’ve been banging on about this for years.
As I said in 2017,
“At some point, someone will have to tell those on middle incomes that they will have to pay more tax.”
flipchartfairytales.wordpress.com/2017/04/27/t...
One of the my favourite Spitting Image sketches features the Queen complaining about the behaviour of the rich, to which an exasperated Prince Philip replies, “You ARE the bloody rich!”…
UK tax has gone up significantly over the last 25 years
But the tax paid by the average UK worker has not
This apparent miracle was achieved by taxing “other people”: higher earners, capital, property, banks, etc
The strategy has run out of road
A 🧵 on what happens next.
