So Nick Clegg is talking rubbish again.

realBabelfish said:
you will most likely find the top 10% arent paying their full 40% either as they will be using one of the many loopholes to reduce it. or like cameron will be rich because their parents didnt pay their full taxes.
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Really, are you that naive? Or so easily influenced by the media?

Do you realise how little it takes to be in the top 10%?

Based on 07-08 figures (slightly outdated, but not as much as it could be due to economy) to be in the top 10% you have to earn £44,900. Top 1% is £149,000.

Tax Evasion will start to become an issue at a reasonable amount above even that. Certainly no one in that 44,900-149,000 bracket has the money, nor the resources to pay to exploit said loopholes...

Burnsy2023 said:
So no corporation tax?
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I think he meant only on income tax, (I certainly did)

kd
 
The general public are stupid.

Public image of Nick Clegg & Lib Dems = ****

Public image of Boris Johnson = "lol I like him, he's funny and speaks his mind, lol"



facepalm.jpg
 
realBabelfish said:
you will most likely find the top 10% arent paying their full 40% either as they will be using one of the many loopholes to reduce it. or like cameron will be rich because their parents didnt pay their full taxes.
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1% of the population pays nearly a quarter of all income tax in the UK.

Regardless of whether or not they're paying the FULL amount, it's still an enormous proportion. Especially when you consider just £149k p/a gross is your ticket to the 1% club.

Income brackets for reference:
Top 1% = £149,000 p/a gross
Top 10% = £44,900 p/a gross
Top 50% = £18,500 p/a gross
Bottom 10% = £8,240 p/a gross
Based on 07/08 FY figures, so unlikely to be enormously different to now.
 
Theophany said:
1% of the population pays nearly a quarter of all income tax in the UK.

Regardless of whether or not they're paying the FULL amount, it's still an enormous proportion. Especially when you consider just £149k p/a gross is your ticket to the 1% club.

Income brackets for reference:
Top 1% = £149,000 p/a gross
Top 10% = £44,900 p/a gross
Top 50% = £18,500 p/a gross
Bottom 10% = £8,240 p/a gross
Based on 07/08 FY figures, so unlikely to be enormously different to now.
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I agree, it's all well and good wanting the rich to pay more but if we keep putting it up how much they will pay they will all just leave!
 
Mark H said:
I agree, it's all well and good wanting the rich to pay more but if we keep putting it up how much they will pay they will all just leave!
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More fundamentally than that, it concerns me deeply that at the age of 22, with just 1 years experience in the workplace I am in the top 25% of UK earners, despite being one of the lower-paid employees of the firm I work at (circa 2,500+ employees worldwide).

Frightening.
 
King Damager said:
Really, are you that naive? Or so easily influenced by the media?

Do you realise how little it takes to be in the top 10%?

Based on 07-08 figures (slightly outdated, but not as much as it could be due to economy) to be in the top 10% you have to earn £44,900. Top 1% is £149,000.

Tax Evasion will start to become an issue at a reasonable amount above even that. Certainly no one in that 44,900-149,000 bracket has the money, nor the resources to pay to exploit said loopholes...


I think he meant only on income tax, (I certainly did)

kd
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ah, my bad. i meant the 1%.
 
realBabelfish said:
IIRC private healthcare only treats certain problems. you cant get everything treated privately so they will be using the NHS somewhere. i might be wrong here though. snip
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Yes,you can get everything treated privately.If not in this country,then elsewhere. :)
AFAIK you can make cash/credit card payments at any GP/Hospital/Medical Practice in this country? So basically by paying 'cash' jump the queue,and or secure the services of the best health care professionals?
 
Clegg is a muppet, thankfully he has discredited himself and the muppet party along with him. Rich bashing is pathetic, short term and idiotic... Hence why the lab/libs love it so much.
 
Theophany said:
More fundamentally than that, it concerns me deeply that at the age of 22, with just 1 years experience in the workplace I am in the top 25% of UK earners, despite being one of the lower-paid employees of the firm I work at (circa 2,500+ employees worldwide).

Frightening.
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Well, on the one hand you have top companies paying it's grads enough that they're in the top 25% already.... Inv. Bankers will be hitting top 10% at graduation. In fact I'm pretty sure Aldi pay it's grads 40k with an Audi as the company car, so it's not 'that hard' to hit that point. On the other hand you have the people that have got the 5C's average at GCSE who probably will spend their lives working in low profile admin/finance/supermarket floor workers on minimum wage/up to about 16k/year...

kd
 
King Damager said:
Well, on the one hand you have top companies paying it's grads enough that they're in the top 25% already.... Inv. Bankers will be hitting top 10% at graduation. In fact I'm pretty sure Aldi pay it's grads 40k with an Audi as the company car, so it's not 'that hard' to hit that point. On the other hand you have the people that have got the 5C's average at GCSE who probably will spend their lives working in low profile admin/finance/supermarket floor workers on minimum wage/up to about 16k/year...

kd
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Yeah, a mate of mine went through the Aldi grad scheme, mind-bending money for people of no experience imo.
 
Moses said:
If we didn't give aid to Indians, they wouldn't be helped by their government. It's not as though the Indian government would fill the gap with money from their space program, if we withdrew funding.

Also, their investment in a space program is pretty sensible, given it'll make them/save them tonnes of money in the long-term...
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They give "aid" to grease the hands that allow the West to extract resources and labour from those countries. There is always a reason for the aid (bribe) money. It's an investment, bribe money to protect business/military interests.
 
Panzerbjorn said:
Source?

Where is all the proof of which you speak?
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This is what happens. No rich entrepreneurs -> no businesses -> no jobs -> no tax revenue

But I'm sure you can just print money from thin air, or borrow it from China indefinitely with no way to service it. And when that ends you can have a command economy and motivate people to work by threatening to dissapear them to some gulag.

http://www.bloomberg.com/news/2012-07-17/sotheby-s-says-rich-french-are-leaving-france-les-echos.html

http://www.bloomberg.com/news/2012-05-10/entrepreneurs-in-france-flee-from-hollande-s-rejection-of-wealth.html
 
kwerk said:
This is what happens. No rich entrepreneurs -> no businesses -> no jobs -> no tax revenue
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You seem to be under the impression that rich entrepreneurs drive the demand for businesses creation which drives the demand for jobs. If so, you have it backwards.

Demand comes from the general (spending) population, who create demand for business creation, which in turns creates jobs.

Rich entrepreneurs do not create job... a public with spending power does, and they in turn make entrepreneurs who capitalise on that demand rich.
 
So demand comes from thin air? Where does public spending power come from in the first place?

Condense it down to the basics.

  • A farmer (entrepreneur) wants to grow food. He grows more than he needs and has a surplus beyond his own needs (wealth).
  • He uses the wealth to hire workers to harvest the food.
  • The workers are paid more than they need to eat, so they now have a surplus (wealth).
  • They use their surplus to buy surplus beer from the brewer.
  • The brewer now has wealth and hires workers and grows.
  • Those workers then earn wealth and buy whatever.
  • And so on and so on until the government steps in and taxes everyone and redistributes the wealth as it sees fit because it knows better.
  • This is actually good if they limit spending to infrastructure and protection of property rights, it makes business more efficient. Sadly they don't limit spending to that.
  • The brewer doesn't like working a large percent of his time for free with no benefit, so he moves to another country with lower taxes.
  • His employees lose their jobs.
  • The government gets less tax revenue.
  • And so it goes.

Demand comes from the surplus of your enterprise (real wealth), not thin air. With out the farmer, brewer and other entrepreneurs there is no wealth to begin with. There is subsistence level survival, or communism.

The government can offset the high taxes by creating extra demand through printing and borrowing money. Essentially pulling demand forward from the future. Businesses benefit and the government gets to tax this fake demand, but it is artificial demand and has to be paid back with real demand later on. Now they are stuck with a problem: because the government doesn't actually produce anything they have to raise taxes to pay back their debts. But the more they raise tax the less entrepreneurs want to work and the less jobs there are and the less tax revenue they get.

Really what we have is warmed over socialism with a sticker on it that says capitalism.
 
DAIR said:
is this for real?
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Yes - although reported in the daily fail, not that it detracts from the fact that 75% is on the horizon

France plans savage 75% tax rate for top earners as the rich vow to desert country if it goes ahead
By SUZANNAH HILLS
PUBLISHED: 03:58, 8 August 2012 | UPDATED: 13:08, 8 August 2012
Comments (276)
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France's highest earners are preparing to leave the country if Francois Hollande hikes up the top rate of tax.
One Paris law firm says it has been inundated with calls from wealthy businessmen asking if they should leave France if the socilaist President Francois goes ahead with his promise to introduce a 75 per cent tax rate on income above one million euros.
Vincent Grandil, partner of Altexis, which specialises in tax law, admitted his company has been receiving concerned calls from high earners since the French President's tax announcement.
He told the New York Times: 'We're getting a lot of calls from high earners who are asking whether they should get out of France.


Read more: http://www.dailymail.co.uk/news/art...-1million-euros-goes-ahead.html#ixzz24wnImmPg
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robgmun said:
Unfortunatly as proved in the last election Stockhauen and XMoon wouldn't bat an eye-lid at a full blown communist government in the UK. It was quite an eye opener!
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Add me to that list please.

But I'm not talking about the pseudo communist government of China, the qausi free market Cuba, the dictatorship or N.Korea or the failed Stalinism of Russia that people confuse with communism.

I'm all for a properly implemented communist government in this country. I'm not sure anyone knows how to do it though - and that's the problem.
 
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