1st Jan Happy Billlionaire Tax Freedom Day!
1 January, 2009
Tax Freedom Day is an import from the US right which nominates a day in the tax year when they argue people stop working for the government and start working for themselves. The concept is bollocks because it doesn’t take into account what public services you gain for the taxes you pay but that shouldn’t stop us using it for progressive ends by pointing out the extraordinary treatment that some people and companies manage to wangle.
As Richard Murphy over at the Tax Research UK blog points out the 54 billionaires who pay an average of 0.14% tax will have discharged their responsibilities to the Exchequar by 12:15 this afternoon and the third of Britain’s 700 largest companies who pay no tax will have had more reason to share in joyous arrival of the new year than the rest of us.