@Chris, I've tried to digest your posts, and agree with many of your points made.
I'll post this then read the replies. It's all supposition btw, and NOT a go at you
I'm on £10,000 a year, I pay 10% tax. I get £9,000 a year
I'm on £25,000 a year, I pay 20% tax. I get £20,000 a year
I'm on £50,000 a year, I pay 30% tax. I get £35,000 a year
I'm on £100,000 a year, I pay 40% tax. I get £60,000 a year
I'm on £500,000 a year, I pay 50% tax. I get £250,000 a year.
I'm on £1,000,000 a year. I pay 60% tax. I get £400,000 a year.
If I don't want to pay 60% of my wages in tax, I don't go for a £1,000,000 job.
Should the tax % be more logrithmic, based on the country's highest earners through the populus worker.
My second query is about running your own, 1 man, company. This is where I am totally lost.
Do you pay yourself a wage, taking the above into account. If so, are the company profits then added to your wage ?
Therefore putting you on a higher income.
Doesn't this encourage larger businesses to pay higher wages. They pay less tax, but their employees do.
It all sounds catch 22 to me q?