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flat rate tax

Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
what do you think, personally im not for single rate of income tax, as i personally reckon the rich can afford to pay a higher percentage, where its not stupid anyway

but would you be happy with say tax free up to £12,000 and 25% after that, what limit and % would you set

Comments

  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    i think you have tax free up to £4750 or something like that

    then up to £10,000 you get taxed 10%

    why not have tax free up to £10,000, and then 25p in the pound after that
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Some new EU states have implemented a flat tax and their revenues are higher than ever. Brussels tried to put a stop to this but thankfully failed and is now even thinking about adopting the flat tax!

    It is a bit regressive though. Maybe they could have a slightly higher bracket for 100k+
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    what do you think, personally im not for single rate of income tax, as i personally reckon the rich can afford to pay a higher percentage, where its not stupid anyway

    I'm lost. The situation is different that you seem to suggest.

    There isn't a single rate now. Even after the 25p rate there is still that 40p rate which some of us are on. IMHO there should be a further rate for people earning over £100k or similar...
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Abolish allowances and all the other distortions in the system and charge a flat 10% on income. Seems fair to me.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    revenue would be down then
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Close all loopholes and ensure companies and individuals alike are not longer allowed to dodge billions of Pounds in tax every year, and then there will be no need to raise taxes ever gain.

    Seems simple to me.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    I'm lost. The situation is different that you seem to suggest.

    There isn't a single rate now. Even after the 25p rate there is still that 40p rate which some of us are on. IMHO there should be a further rate for people earning over £100k or similar...


    oh at moment theres the 0% threshold, the 11% one i think it is, and then the 22% one and then the 40% one

    countries like poland have implemented it such that theres a high 0% threshold and only one tax rate above it, so its easier to do tax calculations, and easier to enforce, and as a result revenues have gone up

    here though its obvious revenues would fall slightly, but the admin saved would be loads, bit too regressive for my liking, as with duty andVAT on top, the lowest paid will pay the highest % overall
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    but the admin saved would be loads,

    Do those other nations have a PAYE system in place? That keeps admin down for those of us who are meployed, rather than self employed...
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    I can never get my head around why people who work for the government are taxed rather than just paid less in the first place.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    klintock wrote:
    I can never get my head around why people who work for the government are taxed rather than just paid less in the first place.

    Me neither.

    It would certainly be an incentive, if only as a soundbyte...
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    i think 12000, then a flat rate of 20% on everyone, with absolutley no loopholes, or shelters would work, also get rid of VAT, as it wouldnt be needed. that 20% is personal as well as corporate, so big business pays 20% flat tax on ALL profits as well as the individual
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    i think 12000, then a flat rate of 20% on everyone, with absolutley no loopholes, or shelters would work, also get rid of VAT, as it wouldnt be needed. that 20% is personal as well as corporate, so big business pays 20% flat tax on ALL profits as well as the individual


    that would mean effectively privitsing all non legal bodies etc like the nhs etc etc as the current tax rate effevtively is 40%
  • Teh_GerbilTeh_Gerbil Posts: 13,332 Born on Earth, Raised by The Mix
    Rich Kid wrote:
    Abolish allowances and all the other distortions in the system and charge a flat 10% on income. Seems fair to me.

    Thats becasue your a "Rich Kid" who goes out and spits at anyone less rich than him and expects them to be servants.

    So Bitch Kid, what if you happened to get married, have more rich kids, then have your wife leave you and were unable to support the richk ids who wanted their expensive toys without benefits?

    Or will you muble on about insinificant problems instead of an answer?
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Teh_Gerbil wrote:
    Thats becasue your a "Rich Kid" who goes out and spits at anyone less rich than him and expects them to be servants.

    So Bitch Kid, what if you happened to get married, have more rich kids, then have your wife leave you and were unable to support the richk ids who wanted their expensive toys without benefits?

    Or will you muble on about insinificant problems instead of an answer?


    HUH?
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