Satch
MB Enthusiast
- Joined
- Nov 24, 2003
- Messages
- 3,508
- Location
- Surrey
- Car
- S211 E320Cdi Avantgarde Estate & Toyota Land Cruiser
Here we go again. It is suggested that by the end of next week the average pump price will have risen by about 5p per litre for petrol and maybe 10p per litre for diesel.
So let us just remind ourselves, one again, that if petrol reaches the projected 90p per litre pump price about 67p of that is taxes.
But of course you have purchased that out of taxed income so (assuming that all MB drivers are of course Pluted Bloatocrats and taxed at higher rate of 40% plus suffering a 1% NIC charge) you will have had to earn £1.52 gross in the first place. 62p to the Treasury
But to pay you that extra £1.52 your employer has to cough up 12.8% NIC as well. Another 19p to fund Labour social engineering dreams.
So in order to get that marginal litre into your tank you and your employer collectively contribute £1.48 to Gordon Brown.
That is an effective tax rate of 643% And it makes me want to puke.
So let us just remind ourselves, one again, that if petrol reaches the projected 90p per litre pump price about 67p of that is taxes.
But of course you have purchased that out of taxed income so (assuming that all MB drivers are of course Pluted Bloatocrats and taxed at higher rate of 40% plus suffering a 1% NIC charge) you will have had to earn £1.52 gross in the first place. 62p to the Treasury
But to pay you that extra £1.52 your employer has to cough up 12.8% NIC as well. Another 19p to fund Labour social engineering dreams.
So in order to get that marginal litre into your tank you and your employer collectively contribute £1.48 to Gordon Brown.
That is an effective tax rate of 643% And it makes me want to puke.