It feels like we pay a lot of tax in the UK but is that really true? Where do our taxes actually go? Are they wasted? And are we going to have to pay more in the future? Paul Johnson is the Director of the insanely well respected Institute for Fiscal Studies and in this episode he explains how we’ve got into this pickle, how we can get out of it - and why our feelings about paying too much tax might not be rooted in reality. Get Paul’s book 'Follow The Money': https://amzn.to/41aOqXa 🤝 Want 1:1 money help from us? Answer a few questions to find the right service & book free call: https://getmost.typeform.com/pod-episodes 🎉 Sponsors: Sensate: Get help with your anxiety & 10% off with the code MM10: https://www.getsensate.com/makingmoney Unbiased: Get help with your money from a financial advisor: https://www.unbiased.co.uk/makingmoney ✉️ Newsletter: If you want a summary from this episode in an easy format, please subscribe to our newsletter: https://makingmoney.email/S2E9 Disclaimer: This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life. Chapters: 00:00-00:50 - Intro 00:50-05:39 - Why context is important 05:39-10:42 - How much tax do we actually pay? 10:42-14:05 - Why we’ll need to pay more tax 14:05-17:18 - Where are our taxes spent badly? 17:18-18:38 - Unbiased ad 18:38-24:58 - Why governments struggle to reform tax 24:58-33:01 - The biggest tax rise in history 33:01-34:11 - Sensate ad 34:11-40:28 - Why don’t we tax the wealthy more? 40:28-44:34 - Corporation tax 44:34-49:50 - Is the tax system policed properly? 49:50-56:40 - Is growth the answer instead of tax rises? 56:40-01:00:49 - Why we all, including politicians, need to be brave