I do not consider myself to be a fatcat. I do not live in a mansion in leafy Barnton (although I admit that my modest New Town flat offers a more than comfortable existence). Nevertheless, through diligence and good fortune, I have saved enough of a nest egg that I will never have to work again. As a result, I do not earn any income and therefore I pay no income tax.
At present, I contribute some £1400 per year to the City of Edinburgh Council by way of council tax. Under Mr Swinney's proposals for a local income tax, I would pay precisely nothing. I would therefore be better off to the tune of £1400 per year.
Is this fair? Of course not.
1 comment:
But good for a few rounds in the pub!
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