But that's the point, we're really not far off a flat rate tax. A guy earning £25k has a marginal rate of 32% and a guy earning £145k has a marginal rate of 42%.
A sensible progressive taxation system should increase monotonically, not do this:
Is it? If you just look at it without further explanation you would think that you pay 40% income tax if you earn above 42k but it's a lot less as a total.
But that's the point, we're really not far off a flat rate tax. A guy earning £25k has a marginal rate of 32% and a guy earning £145k has a marginal rate of 42%.
A sensible progressive taxation system should increase monotonically, not do this: