UK Politics General Discussion

[Plastic Person]

George Harrison was being taxed 95% when he wrote this. He was worth $400 million when he died forty years later. Anybody whinging against wealth redistribution or preaching the benefits of trickle-down economics would do well to pair it with a bass line this good.

 

[Smiley]

Saying someone is taxed 43% is a fallacy in this country, you don’t pay the upper tax band on the entire earnings and often higher earners are not on PAYE so can use tax breaks.

You've already answered the question! The more you tax people, the more they will avoid it. People in the higher bracket pay 47%. Basically half. Tell me it's not enough???

These people are the wealth creators, the employers, the people that bring in most tax receipts to keep the country going. See how that goes when you piss them off too much!

 

[GooseOnTheLoose]

These people are the wealth creators

They're not wealth creators, they're wealth hoarders. The wealth isn't created, it's accumulated from elsewhere and then held on to.

 

[Matt N]

I seem to remember reading somewhere that the very principle of successful capitalism is predicated on the movement of wealth.

So the wealthy hoarding money instead of allowing it to move actually goes against capitalism!

 

[tayspru]

You've already answered the question! The more you tax people, the more they will avoid it. People in the higher bracket pay 47%. Basically half. Tell me it's not enough???

These people are the wealth creators, the employers, the people that bring in most tax receipts to keep the country going. See how that goes when you piss them off too much!

But they’re not paying “basically half” of their earnings into tax, they’re paying half of what comes in over the threshold. If you’re going to bellyache about how hard life is on your salary that warrants such a large tax bill, at least don’t obfuscate the truth

 

[Dave]

You've already answered the question! The more you tax people, the more they will avoid it. People in the higher bracket pay 47%. Basically half. Tell me it's not enough???

These people are the wealth creators, the employers, the people that bring in most tax receipts to keep the country going. See how that goes when you piss them off too much!

They don’t pay 47%, I just evidenced someone earning over £2 million paying 23% on that earning.

Even on PAYE you don’t pay your highest tax rate on your whole earnings, so your overall tax rate is lower than the headline figure. And those not on PAYE then apply hundreds of tax avoidance techniques to lower their rate.

In my opinion the richest people shouldn’t be able to manipulate their tax rate to lower than the poorest people, it’s immoral to suggest otherwise. And being a citizen of the country should mean you pay tax no matter whether you choose to live here or not.

Also these people don’t create wealth, they collect it. Working people create wealth and move money through the economy.

As for the welfare changes, we needed something to support people who can work into work and there are some traps in the existing system but broadly I think this change is disgusting.