Happens in the UK. Every £2k over £100k and you lose £1k of your tax-free allowa...

peteretep on Nov 28, 2013 | parent | context | favorite | on: A universal income is not such a silly idea

Happens in the UK. Every £2k over £100k and you lose £1k of your tax-free allowance. This means that you keep 38p of every £1 earned between £100k and £118k, before the tax rate relaxes back to a more sensible 40% after £118k (and then up to 50% at £150k).

alextingle on Nov 28, 2013 [–]

Marginal taxation rates are even higher for the very poor: well over 90% in some cases.