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

The way I see it is that the high earners are in a position to help get this country's economy get back on track, more so than the poor as paying a higher rate of tax doesn't have such a detrimental effect on a high earners life style, in a perfect world I guess it's not fair that they have to pay such a high rate, but I, an average earner do respect the fact that they do contribute a lot in terms of money into the economy and whether they like it or not will hopefully help the country out of this slump, I think it's a necessary evil at this point in time, I don't think the rich are obligated to help the poor, but I do feel that they are in a unique position to be able to help, I don't mean by giving money away, but by maybe investing in projects that help people living in deprived areas, charity's, etc, whether they choose to contribute in this way though is entirely up to them, I'm not going to condemn them for not doing it, it is their money after all.
 
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Killa_ken said:
You pillock. Why? Becuase they worked harder then you? Why should they get so ****ed over because people like you feel they've been treated unfair instead of coming to terms with the fact that they've made their own bed.
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Simple example. A Dragon may have 100 million in their account, they can afford to give back to the poor people who bought their products, as no 150K earner would buy inexpensive products developed for the masses.

In addition, a lot of people at the top did not get there legally e.g. drug dealers, VAT carousel fraudsters, dodgy bank account managers etc. so it's a tax on them as well, plus those who make dodgy phone calls on radio shows ;)

Also, if I earnt 175K for example, I would appoint the wife as secretary of the business and pay her half the wage to come under the threshold. But then again, I'm a pretty smart guy from time to time ;)

Not all the time mind you :p
 
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Cryogenic said:
Simple example. A Dragon's Den person may have 100 million in their account, they can afford to give back to the poor people who bought their products, as no 150K earner would buy inexpensive products developed for the masses.

Also, if I earnt 175K for example, I would appoint the wife as secretary of the business and pay her half the wage to come under the threshold. But then again, I'm a pretty smart guy from time to time ;)

Not all the time mind you :p
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Who are you to make these decisions for them? As for your second part I'm not sure what is got to do with anything but yes, the rich in general do not pay taxes. They have clever accountants and clever lawyers.
 
Killa_ken said:
Who are you to make these decisions for them? As for your second part I'm not sure what is got to do with anything but yes, the rich in general do not pay taxes. They have clever accountants and clever lawyers.
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Who am I? A citizen of a fair society.. this is not a banana republic :) And yes, there was a programme about clever accountants and rich people on tv, those accountants are rich too for fiddling the system. Tax the critters to hell, and give the decent working people a chance to grab the new money in the system. Not everyone like B. Gates gives their 20 yr fortune away for free.
 
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utherpendragon said:
No, the rich pay to subsidise the poor, it's called social responsibility. It's one of the few things this country can be proud of.

Also who's going to get the economy starting again? it'll the working/middle classes who actually spend their money on the high street, in this country and in all probability into the back pockets of those who complain of a 45p tax rate.

If you don't like the tax rules here go elsewhere, if you're earning that sort of money i'm sure you'll have no problem getting a job elsewhere.
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Subsidising the pathetic lifestyles of benefit cheats and lazy people is something to be proud of? I think not.
Furthermore, how can you say that it is the working and middle classes who spend their money and will restart the economy? The rich are much more likely to have disposable income to do this and spend more in the process. CEOs, doctors, lawyers and other such people earning in the highest tax bracket and spending their money on goods and services are unlikely to end up with that money in their "back pockets"..
...Your last point perfectly summarises what other people are also trying to say.. taxing the wealthier people is not necessarily the best solution as going elsewhere would save them tens of thousands in money that would otherwise go to tax... so surely you would want to think twice about telling them to get out of the country and not contribute their tens of thousands to tax? If I was giving so much over to tax in a state that used it to fund homes and weekly money for frauds, alcoholics and lazy gits I would move too.
 
Reginald said:
Subsidising the pathetic lifestyles of benefit cheats and lazy people is something to be proud of? I think not.
Furthermore, how can you say that it is the working and middle classes who spend their money and will restart the economy? The rich are much more likely to have disposable income to do this and spend more in the process. CEOs, doctors, lawyers and other such people earning in the highest tax bracket and spending their money on goods and services are unlikely to end up with that money in their "back pockets"..
...Your last point perfectly summarises what other people are also trying to say.. taxing the wealthier people is not necessarily the best solution as going elsewhere would save them tens of thousands in money that would otherwise go to tax... so surely you would want to think twice about telling them to get out of the country and not contribute their tens of thousands to tax? If I was giving so much over to tax in a state that used it to fund homes and weekly money for frauds, alcoholics and lazy gits I would move too.
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The economy is struggling and economic activity is needed to do that, when money is spent in the premium market its benefits are very narrow in that whilst the consumer and supply chain is getting stimulus the wider economy is very often lacking and more often than not this benefit is much more quickly taken out of local markets.

And the point im making on tax increases is to fund actual projects which benefit in the short term by providing work in the manufacturing industries for example (military contracts), construction (affordable housing) and in the long term by providing real infrastructural improvements in future and will hopefully keep people in these sectors in work until international liquidity resumes and maybe give a job to all those scummy alcoholics and drug addicts who claim benefits from your tax.

I'm not saying that everybody who earns a good wage should leave here, quite the opposite, but if you think you're getting a bad deal go look elsewhere, standards of living in this country with that sort of money is hard to beat. If they do then there are others of capable of filling their roles, there's not a real skills shortage in this country.
 
The rich are much more likely to have disposable income to do this
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because they already have everything thing they need.......
while the working class are still saving every penny they can towards buying a car or a house doing there back breaking work every week, the work rich people wouldnt do even if the wages were reversed :rolleyes:
those easy jobs as most of you toffs like to call them the ones with less hours :mad:
 
So lets be honest who exactly will be paying this extra rate? Footballers, investment bankers, lawyers, Jonathan Ross and city fat cats. Don't even attempt to defend that bunch of pure scum, I don't care if tax them at 75%, they dont deserve to be on over 150k in the first place.

For the few people who do deserve it (those perhaps who run SME's and do genuinely earning that wage) then I feel for them slightly.
 
Reginald said:
Subsidising the pathetic lifestyles of benefit cheats and lazy people is something to be proud of? I think not.
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Of course not, but they're not the only people who receive benefits, are they?

What about pensioners, people on disability allowance, war veterans & unemployed people who genuinely want to work?

Do we just say "Bad luck, you're on your own"?
 
Because it's always coupled with 'savings in government will mean everyone will be better off' pie in the sky BS- because at current levels of spending, the minimum income level and percentage take would be at a level which would either screw over the poor, or screw over the middle class, with the top-end getting a better deal either way.

TBH, if 5% extra tax over £150k means so much to people they'd rather leave the country, fine - *&% off and don't come back, clearly living in this country doesn't mean that much to you. :shrug:
 
lowrider007 said:
I keep hearing about this, how exactly does it work (in laymen's terms please) and if so many seem to cite this as the resolution to our taxation problems why is it not put into action ?
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http://en.wikipedia.org/wiki/Negative_income_tax

Rich_L said:
Because it's always coupled with 'savings in government will mean everyone will be better off' pie in the sky BS- because at current levels of spending, the minimum income level and percentage take would be at a level which would either screw over the poor, or screw over the middle class, with the top-end getting a better deal either way.
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A good negative income tax system completely eliminates the entire welfare state, that's a massive saving and efficiency increase for a start. That's not BS, it's a lot fairer. It also eliminates the benefit trap, making work pay from the first hour, and does not pay any extra for lazyness, baby production etc etc.

I'm sorry you prefer the current, unfair and unjust status quo of those who have responsibility being worse off due to taxation and charges than those who refuse to work, and your obsession with us needing to spend as much as possible as a state prevents you from seeing the benefits of such a system because you can't 'maintain current spending levels'.

TBH, if 5% extra tax over £150k means so much to people they'd rather leave the country, fine - *&% off and don't come back, clearly living in this country doesn't mean that much to you. :shrug:
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I'd much rather tackle the excess spending than drive people out with excess charges.
 
KNiVES said:
Hornet's nest stirred. She got us in a mess. My parents lost their home because of her.
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At the rate Labour are going, the situation inherited by the next government is going to be far worse than anything the tories have ever managed. In fact it's going to be far worse than even Labour themselves have managed before.

We will need a strong leader like Thatcher to sort out the mess Labour have left again.
 
Dolph said:
At the rate Labour are going, the situation inherited by the next government is going to be far worse than anything the tories have ever managed. In fact it's going to be far worse than even Labour themselves have managed before.

We will need a strong leader like Thatcher to sort out the mess Labour have left again.
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Nobody's denying Labour got us in a hole, but wishing for Thatcher to take the reins of the current situation is like trying to extinguish fire with fire. You might like her, but the majority of the working class sure don't - and they're the ones getting screwed right now. You seem to forget Thatcher had an almost palpable loathing for all things working class. :p
 
KNiVES said:
Nobody's denying Labour got us in a hole, but wishing for Thatcher to take the reins of the current situation is like trying to extinguish fire with fire. You might like her, but the majority of the working class sure don't - and they're the ones getting screwed right now. You seem to forget Thatcher had an almost palpable loathing for all things working class. :p
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I think the upper classes are about to get screwed as well.


This picture sums up the situation nicely.
p_notworking.gif
 
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It is fair enough.


If someone on 40k can pay 40%. Then surely someone on 150k can pay 45%.

If we are going to have different tax bands they need to be updated to change with the wealth of the UK.

40k isn't that much money imo so it makes sense to have a higher tax band.


It will not remove the incentive to work and do well at all. people on 150k can afford it.
 
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