Verifying Something Using The Internet

Hymie | 07:28 Sat 24th Aug 2024 | Business & Finance

27 Answers

Often I see something in the news, or something I read, or something on-line that I question whether it is correct/accurate.

The internet allows me to quickly verify the validity or otherwise of the ‘something’, often starting with google, which may take me to Wikipedia or any number of other authoritative sources, which will invariably concur with each other, allowing me to determine whether the ‘something’ is correct/accurate, or that I was right to question it.

In a recent thread on AB, I stated that income tax is a progressive tax – that results in the poor paying less tax.

As an example, someone in the UK earning £12k per year would pay no income tax at all, whereas someone earning £24k a year would pay 20% tax on £12k = £2,400 (10% of their total earnings). And with a 40% tax rate on earnings over ~£50k, someone earning £100k per year would pay around £27,600 a year in income tax (nearly 30% of their total earnings).

In that thread, both TTT and youngmafbog claimed that I was wrong about income tax being a progressive tax.

youngmafbog even wrote //Hahahaha, from one of the people on this site with zero financial acumen demonstrated time and time again by absolutley garbage posts//

You can check out the internet yourself to see who is correct; TTT and youngmafbog or Hymie and the rest of the world.

Of course TTT and youngmafbog would be in line for a Nobel economics prize if they wrote a paper proving what everyone in economics believed to be correct – showing it to be wrong; maybe AB could sponsor them in this endeavour, gaining International recognition.

https://www.theanswerbank.co.uk/News/Question1876302-2.html