that is a misunderstanding of progressive taxation, actually

progressive tax just means that the rich pay a higher proportion of their income, individually, than the poor.

But there are always more poor. So even in a progressive system, they pay more, in total.

Therefore 3bn vs 500m is entirely consistent with progressive taxation.

Posted By: JPM on December 9th 2009 at 13:41:21

Message Thread

"So the banks are paying an extra ?500m. But average earners are paying an extra ?3bn. Unl (General Chat) - Ralf Scrampton, Dec 9, 13:24:31
- that is a misunderstanding of progressive taxation, actually (General Chat) - JPM, Dec 9, 13:41:21
  - the person that typed that mentioned nothing about taxation (General Chat) - Ralf Scrampton, Dec 9, 13:45:24
    - right. Though he was talking about taxation, and he questioned whether it was progressive, (General Chat) - JPM, Dec 9, 13:47:47
      - actually the money's not coming from the bankers, it's coming from the banks (General Chat) - Ralf Scrampton, Dec 9, 13:52:55
        
        Remind me how much the government gave the banks to bail them out? (General Chat) - BerlinCanary, Dec 9, 14:02:27
        
        a bit more than ?30... (General Chat) - Ralf Scrampton, Dec 9, 14:10:27
        
        My point is that the level of bonuses are irrelevant to the general economy (General Chat) - BerlinCanary, Dec 9, 14:55:58
        
        "it's merely an attempt at vote winning because everyone hates bankers" (General Chat) - Ralf Scrampton, Dec 9, 15:16:39
  - Are you JP Morgan? (n/m) (General Chat) - duke of york, Dec 9, 13:44:13
    - One of my clients JPM - good bunch (General Chat) - KentonCanary, Dec 9, 13:50:09
    - haha. I think he's dead. (n/m) (General Chat) - JPM, Dec 9, 13:45:14
      - Juan Pablo Montoya then (n/m) (General Chat) - KentonCanary, Dec 9, 13:49:17
        
        or he likes fruit machines (n/m) (General Chat) - SCC 28, Dec 9, 13:51:41
  - Yeah - what he said (General Chat) - Yellalee, Dec 9, 13:43:51
- We should storm the banks (General Chat) - duke of york, Dec 9, 13:27:41
- It isn't but just wait until the Eton boys are in ! (n/m) (General Chat) - colincanary, Dec 9, 13:26:12
  - more of the same? (n/m) (General Chat) - Ralf Scrampton, Dec 9, 13:27:31
    - The thought of the millioaires telling the rest of us to tighten our belts appals me. (n/m) (General Chat) - colincanary, Dec 9, 13:28:29
      - that's more of the same too (n/m) (General Chat) - Ralf Scrampton, Dec 9, 13:29:36
        
        That's what I mean, people who had no role in the cause of all this are having to pay for (General Chat) - colincanary, Dec 9, 13:32:03
        
        It's called life Colin and it sucks. (General Chat) - CB41, Dec 9, 13:34:14
        
        Too true ! (n/m) (General Chat) - colincanary, Dec 9, 13:36:43

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