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Comments
:rolleyes:
The 40% bracket starts at £32K ish this year. I doubt many of them declare their capital gains (which should be taxed at 40% after allowances as well). Thats the point, if you live, work and conduct your business in one main country, thats where you should pay tax, not pay bugger all in a tax haven.
Blagsta you really should make a personal attacks at me when you know nothing about me, should you?
And i think your find my mother paid for my education and health care.
So youve never used a state funded institution at any point in your life ever?
I know enough to know that I wouldn't piss on you if you were on fire.
im not saying that at all, i just dont think its fair that people that work hard should have to pay for people that choose not to work
i think the fairest way to deal with things is to just charge a set amount to everybody, that way no one is paying more then the person next to them
You're quite clueless aren't you?
And yet you believe it is right for mega rich people to exploit you (supposing you're not self-employed) and not even contribute towards your wellbeing and that of all of the workers who make their wealth possible.
You truly are the definition of a turkey voting for xmas aren't you?
MIDDLE CLASS SOCIALIST!!!!!111one You're almost like Lenin.
Alladin, the Capitalist system has some people so indocrinated by playing up on thier own freed and hatred they'll never leave its grip.
We get brought up at school being told greed is wrong, to share and love, same if you are a religious child and read your holy book (unless you are a scientologist, then I really pity you) and then thrust into a world ... of greed and corruption, playing up societys weakest and most despicable points.
Is it any wonder society is in such a shape in a culture where we teach greed is good, hate thy neighbour and rob him of every penny he has. Is that a world that is good to live in? Of course not.
So, let me get this right.
When you use the welfare/education system etc. then it's okay, but when someone else does it's wrong?
A legacy that some (including our very own Stargalaxy) actually salute.
POTW
There are some people who can't work, should we not give them any benefits and not let them use any of the stuff that taxpayers pay for?
How would that be fair? That would mean some people who don't earn alot of money (like my parents) would have hardly any money to live on. Tell me, how would that be fair?:rolleyes:
Unfortunately it boils down to the simple truth (whichever way you look at it) that extremely rich people are more important that joe bloggs earning £6.35 an hour in a call centre. That's why there isn't a massive clampdown on them evading tax.
:yes:
High taxes scare off the entreprenaurs in a country. We need to do all we can to encurage entreprenaurs in this country, I would hate to think if I work hard and build a sucsessful business about half my earning were going to in tax.
I would just live in some tax heaven and commute to and from the uk when necessary.
:thumb:
i believe the marginal tax rate for someone earning £10,000/year is about 60% simply due to living costs taxes like VAT and duty.
people who earn 7, 8 figure salaries should be expected to pay a fair % of their earning as tax, not 10% at least 30%
i recently got a tax hike on my meagre wage just to pay for wealthier peoples tax cuts - fair i bid you not
Income tax on earned income above £34,601 is 40%.
That would apply to CEOs of big organisations as well. I think the guy who owns harrods is right at the top of directors salaries at around £300k pa.
The mega rich people who make lots of money who are often seen as those who are money grabbing scrooges. But in reality they're speculators who put their own personal fortunes into the economy in the form of new businesses etc. which in turn they make a nice profit on (if they work out, a lot of them also lose a lot of money). This profit is split, some of it goes to expanding the business further, some of it goes to employees in profit share initiatives, some of it goes to the government and in taxation, and some of it goes back to the investor in the form of a return.
These investors work very long weeks as it never stops. Without them the economy would stagnate. They're already taxed on almost everything, even profit / income is taxed, but some people think they should be taxed further, until there is no real incentive.
At the moment, with the economy suffering from inflation and interest rates rising there is no way in hell we want to start putting off the people who are still encouraging growth in the economy.
When the higher rate of income tax was cut by Lawson to 40%, the rich actually paid more. The rich will pay tax if it is a fair tax, but taxing them until the pips squeak is not fair, and of course they will evade it. 40% of £100,000 is a damn sight better than 80% of £0.
Raising the tax rate to 50% for earnings over £100,000 would be fair, but why on earth would someone go to work just so the Government could take 80% or 90% of everything they earn? They'd either not bother, or move to a country where they can reap the fruits of their labour.
That said, the abolition of the 10% tax rate is the worst thing that could have happened to low-income families- I'm sure that they will all still vote for Gordon at the next election though
You need to look at the bigger picture though. Yea, we could have complete socialism at one extreme where no matter how much money you earn you end up with the same amount. Sounds fair enough. But thats too simplistic.
The economuic renumeration you receive after tax should be proportional to your value to society. It's a sad fact that a business owner that employs 500 people and will provide not only goods and services to the economy but also support the livelihoods of those 500 people is probably more important to society on balance than one doctor. Which is why he probably earns more.
It just seems to me there is a big class war still raging in the UK between the haves and the have nots. I say have nots, we have an economy where the minimum wage is very high, where employment rights are brilliant and have a staggered tax rate for those who earn less.
Of course, the wealthy who evade tax by lying on their tax forms should be punished, but with the amount of auditing going on that's relatively rare - and when it happens the consequences as with enron in the US are severe. But the idea that we should impose even more taxes on the rich to subsidise everyone else I think is flawed. We're already subsidised in many ways and whenever this discussion comes around I can't help feeling there is some class animosity in it.
Who's the Turkey? Those wanting to expand the cake so we all getting bigger slices or those wanting a bigger share of a smaller cake?
I'd say it was the latter...
Unless of course those people defending the actions of those who avoid paying tax are mega-rich themselves of course. But somehow I doubt that is the case.
I wouldn't. I'd say the turkeys are those who want short term gain, even though that's going to lead to long term loss.
How is the view from the coop at this time of year anyway?
So you would rather have all these people bugger off and take their business elsewhere just so things can be "fair", that's just cutting off your own nose to spite your face.
Just goes to show the Mass Media has had its desired affect - selling Capitalism to those who it rips off and doesn't benefit at all. The new Opiate of the Masses is here it seems.
Ignorance is the new black.
If you were to say 'let's tax people 60, 80% tax' I can see some leaving. But simply closing the loopholes so they can't exploit it and have to pay what everyone else- including many megarich people who actually have an ounce of decency in them incidentally- is not going to provoke an exodus. At all.
It seems that it only takes some vague threats or predictions of doom by businessmen (the minimum wage will bring mass unemployment; we must be allowed to sell weapons to lunatics or we'll go bankrupt; don't make us comply with the law or we'll leave) for people to dance to their tune and believe everything they're told.
How exactly would, say, Rupert Murdoch take his business elsewhere if the government summed up the balls to make him pay the tax he should? Do you think he'll close down News International and BSkyB and let all his channels and newspapers sink? Yeah right.
Christ. Since when we willingly accept blackmail and extortion?
And how do you explain the 1980s, when a cut in tax rates actually yielded more money from the top 10% of earners?
I'd rather have 10% of £100k than 70% of nothing, and whilst its not ideal, those who can afford to offshore will do so. If I could get away with halving my tax bill I would do so, and anyone who says otherwise is a liar.
But 40% is not excessive. And furthermore, many multimillionaire businessmen already pay it without threats and without detriment to their immense wealth.
I think I'm moving into extortion. I can't believe how easily some people will bend over backwards... Sorted for life, I'll be.