Government to bring in 45% income tax for top earners (£150k pa)

Kemik said:
The flat tax rate should be equal to the basic rate of tax (i.e. 20%). Apparently the rich will stop avoiding tax as the cost will outweigh the benefits. It makes for a simpler system and costs less to admin.

Not that I think we should implement it or anything. I'm doing my CTA's soon as I'll happy take a more complicated tax system. Keeps me in the job :p
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Get a copy of the IR income breakdowns by band, then project a 20% flat tax against that (complete with the associated tax free allowance - which is likely to be towards 10k). The result is significantly less than current revenue levels unfortunately, it would need to be close to 30% than 20% (likely 26-7%). So basically you'd be screwing the middle class.
 
But..but...savings from shutting down half of the government-provided services will mean more money for everyone!

I find it quite amusing as well that the government is getting abuse for not maintaining an enormous budget surplus 'just in case' of recession, as it is almost inevitable that if the government was holding hundreds of billions of pounds in reserve, the same critics would be moaning about wanting tax rebates..
 
Ok, well I dont earn anywhere near that amount per year..in fact Im still on the hunt for my first job.. but I do think its a bit unfair that people who have most likely studied/worked hard to get where they are are being penalised with extra tax. Shouldnt the government deal with the slackers out there who live off benefits and dont give anything back to society? Yes, I know some people need the benefits and fair enough, but there are cheats out there. Just seems unfair to me..
 
Reginald said:
Ok, well I dont earn anywhere near that amount per year..in fact Im still on the hunt for my first job.. but I do think its a bit unfair that people who have most likely studied/worked hard to get where they are are being penalised with extra tax. Shouldnt the government deal with the slackers out there who live off benefits and dont give anything back to society? Yes, I know some people need the benefits and fair enough, but there are cheats out there. Just seems unfair to me..
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That's Labour.

There is less and less incentive to better yourself these days.
 
Raymond Lin said:
Here we go again, lets tax the poor 100% and let the rich live tax free, that'll work !
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My post didn't say that. And is it really necessary to tax them another 5%? Do they not already get taxed enough at ****ing 40%? Ah whatever you ****ing socialists will never understand.
 
Killa_ken said:
My post didn't say that. And is it really necessary to tax them another 5%? Do they not already get taxed enough at ****ing 40%? Ah whatever you ****ing socialists will never understand.
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Your post didn't say that in this thread but from your views on the Election thread, that is exactly what you mean and where you stand on this topic. You made that point pretty clear on the matter.

The extra 5% don't come in until the earnings over 150k, the rest are tax like everyone else that is "poor", so what does it matter? it's not like they get taxed 45% on the whole 150k is it?
 
Raymond Lin said:
Here we go again, lets tax the poor 100% and let the rich live tax free, that'll work !
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Now is the time to sort out all the scumbags that don't want to contribute anything to society IMO. Can we round up all the chav bums and send them on a one way trip to outer mongolia please? :)

I would expect to see a lot of people who came over here for work (Aussies, Polish, Saffas and the like) going home as the situation worsens and as the pound tanks - it won't make economic sense with crap exchange rates. This may not be a bad thing if it creates vacancies. Unfortunately the ones who stay are most likely to be those who are living comfortably off benefits and contributing nothing :(

More on topic.. I think they need to move the thresholds as the 40% one is way too low... it needs to move up. I wouldn't call someone earning 60K PA rich, for example.
 
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Raymond Lin said:
Your post didn't say that in this thread but from your views on the Election thread, that is exactly what you mean and where you stand on this topic. You made that point pretty clear on the matter.

The extra 5% don't come in until the earnings over 150k, the rest are tax like everyone else that is "poor", so what does it matter? it's not like they get taxed 45% on the whole 150k is it?
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It does not matter if it's an extra 5% on 1p. Money is money. How would you like it if i came and found you every day and took 5 quid off you because lets face it, it's not that much is it. I'm sure you'd have something to say about it then.

And what about in 10 years? Another 5%? maybe another 5% a few years later?

Increasing taxes on the rich is just going to drive these people away, the same people that create jobs for people like you.
 
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Killa_ken said:
It does not matter if it's an extra 5% on 1p. Money is money. How would you like it if i came and found you every day and took 5 quid off you because lets face it, it's not that much is it. I'm sure you'd have something to say about it then.

And what about in 10 years? Another 5%? maybe another 5% a few years later?
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Then why tax anyone at all?

£5 to someone earn 150k a year is nothing

£5 to a single mother to works 2 jobs to keep rent and pay her her baby's day care and a roof over their head is everything.

Think about that.

Since i can't quote within a quote (i dunno how, this is easier), and a little reminder and i do remember and understand how you feel on this subject matter.

 
Raymond Lin said:
Then why tax anyone at all?

£5 to someone earn 150k a year is nothing

£5 to a single mother to works 2 jobs to keep rent and pay her her baby's day care and a roof over their head is everything.

Think about that.

Since i can't quote within a quote (i dunno how, this is easier), and a little reminder and i do remember and understand how you feel on this subject matter.
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I am not arguing over the fact that they get taxed more anymore. I am arguing that they are being taxed EVEN MORE. It seems when ever theres a problem lets just screw over the rich. Theres only so much of that rich people will take before they leave for a tax haven and tell England/US to go **** them selves.

And as for that image it was sarcasm as if that wasn't obvious.

The value of money is the same to everybody, You can not say 5 pounds is not a lot to those who earn over 150k. If you walked into my shop and I charged you $500 for a candy bar 'just because you can afford it' I'm sure you'd be pretty ****ed off.
 
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There might have been a hint of Sarcasm, but you cannot deny the fact that is where you stand on the matter, give the Rich tax breaks and tax the poor more.
 
Killa_ken said:
The value of money is the same to everybody, You can not say 5 pounds is not a lot to those who earn over 150k. If you walked into my shop and I charged you $500 for a candy bar 'just because you can afford it' I'm sure you'd be pretty ****ed off.
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Yes I can, the rich will plonk down £500 on a bottle of what is basically sparkling wine. Wealth is relative.
 
Raymond Lin said:
There might have been a hint of Sarcasm, but you cannot deny the fact that is where you stand on the matter, give the Rich tax breaks and tax the poor more.
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No I do not stand for either of those, I stand for the fair tax. And why not give tax breaks to the people who benefit our economy the most? Do they not deserve it? Why punish a company for creating 10,000 jobs?

And I never said anything about taxing the poor more. I said I don't want benefits going to the ***** scum who don't deserve it. Allow me to summarize my thoughts for you:

- Stop screwing the rich over when there's problems
- Introduce a fair tax OR:
- Give tax breaks to contributors to the economy
- Give tax breaks to doctors, Police, Firemen etc etc
- Regulate the benefit system MUCH more.
-
 
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