The Retirement Thread

[welsh dragon]

As true today as its ever been...

Let me tell you how it will be
There's one for you, 19 for me
'Cause I'm the taxman
Yeah, I'm the taxman
Should five percent appear too small
Be thankful I don't take it all
'Cause I'm the taxman
Yeah, I'm the taxman
I'll tax the street
(If you try to sit, sit) I'll tax your seat
(If you get too cold, cold) I'll tax the heat
(If you take a walk, walk) I'll tax your feet
Taxman
'Cause I'm the taxman
Yeah, I'm the taxman
Don't ask me what I want it for
(Haha, Mr. Wilson)
If you don't want to pay some more
(Haha, Mr. Heath)
'Cause I'm the taxman
Yeah, I'm the taxman
Now my advice for those who die
(Taxman!)
Declare the pennies on your eyes
(Taxman!)
'Cause I'm the taxman
Yeah, I'm the taxman
And you're working for no one but me (taxman!)

Very true

 

[Drago]

Of course, back then the effective tax rate for top earners was 95% so I cans see why Harrison felt a little aggrieved when he wrote that.

 

[gavroche]

Of course, back then the effective tax rate for top earners was 95% so I cans see why Harrison felt a little aggrieved when he wrote that.

Despite paying a high rate of income tax, they were still millionaires though.

 

[classic33]

It suddenly occurs to me that I must have been near @welsh dragon on my Epic Welsh Ride in the summer, probably on the Rhyader to Machynlleth stage.

Did the pair of you say "Hi" to each other?

 

[screenman]

I do not mind paying tax, I just wish I did not have to pay everyone else's share.

 

[Drago]

Despite paying a high rate of income tax, they were still millionaires though.

They were indeed, although George Harrison still had to remortgage his house to raise £3 mill to fund Life of Brian, putting him in the low to mid single digit millions.

So while they were minted by the everyday Joe standards they were at that time a long, long, way from the mega wealth bracket, which is surprising today.

It's wasn't until the 80s that really serious wealth started to actually stick to them with an improved tax environment and better management each, and by the late 80s McCartney was earning $300 a second - more than IBM at the time.

Considering the tax regime of the 60s and first half of the 70s it susprising that Harrison and McCartney remained in the UK when everyone else buggered off. Perhaps they felt they couldn't get a decent cuppa anywhere else?

 

[Drago]

I do not mind paying tax, I just wish I did not have to pay everyone else's share.

Fairly early in my policing career there was an old bobby at the other end of his career.

Carncil tax had just come in, and they itemised the bills so people could see what it was being spent on.

They're was £xyz charge to cover the shortfall created by non payers. For whatever reason this bobby refused to pay it and got taken to court and we were all surprised when the court agreed and dismissed the case!