There's One for You and Nineteen for Me - Taxes in England

Residents of England and the rest of the United Kingdom play high taxes. Someone must pay for the free medical services and the other socialistic programs. The Beatles wrote in the song - Tax Man - "should 5% seem to small - be thankful I don't take it all - I am the Taxman." George Harrison wrote the song when his accountant made him realize how little he would have left of his income.

One time Ringo Starr was asked if he was a millionaire and he quipped, "No - but the queen's a millionaire."

Here are the rates today. For the first 37,000 pounds of income ($60,000) - is taxed at 20%. Anything over that amount is taxed at the 40% rate. There are some exemptions - but not as many loopholes as in the USA.

When you buy things in a store - you pay the price that is on the tag. There is no "plus tax" phrase - no need to worry about not having enough to pay sales tax. But their "value added tax" is included in the price. It is a whopping 17.5%. If a tourist chooses to buy something large here - they can claim a 17.5% refund at the airport as they leave.

So if you had the 40% income tax - and the almost 20% VAT tax - that is about 60% in taxes.

No wonder the Beatles and the Rolling Stones quickly claimed residency in places like the Cayman Islands where there were no taxes.

"And your working for no one but me." - The Taxman, The Beatles