How Much Tax Do The Rich Really Pay And Could They Pay More? [Audio]
How Much Tax Do The Rich Really Pay And Could They Pay More? [Audio]
London School of Economics
0:000:00
Description
Speaker(s): Dr Arun Advani, Emma Agyemang, Ed Conway, Helen Miller, Andy Summers | With tax rises now almost surely on the horizon, the question will be who should pay. The rich, it is often claimed, already contribute a large share of tax revenues; there's not much scope for them to pay more. For example, the top 1% already pay 29% of all income tax. But is this because they pay a lot of their income in tax, or just because they have a lot of income? Researchers from LSE and Warwick will present new findings using confidential tax data to reveal the taxes actually paid by the UK's top 1%. They explore the gap between headline tax rates and the rates that the richest really pay, taking into account income from all sources as well as deductions and tax reliefs. The presentation will be followed by a panel discussion of the implications for taxing the rich after coronavirus. How much revenue could be raised from the top 1%? What are the alternatives and trade-offs involved? Is it fair to
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