Re: Who to blame?
Sorry Dave but it's a good job you are a wage slave rather than an entrepreneur. You just have no clue
a)You get to earn about £10k tax-free. That could cover your expenses to work like travel and clothes, meaning you are then taxed on 'profit'.
b)Equating a job and a company is asinine in the first place.
c)"A billion dollar company IS making massive profits, or it is on the way out anyway." Balls it is. A $1bn company making profits of $100m is not any more profitable than a £1m company making profits of £100k.
d)Some companies run on a margin of say 10% - they manufacture and sell on so they have vast costs and thus very high turnover without that big profits. Others have margins of 70% or more if they are a service company. If you tax on turnover, you kill any company which actually makes anything.