NorthernStar Posted August 13, 2011 Share Posted August 13, 2011 Tax break imminent for those on high earnings? Mr. Osborne has decided in his infinite wisdom that now would be a great time to cut income tax for the wealthiest people in the country. Whilst on Radio 4's Today programme, Mr Osborne 'hinted' that the 50p in the pound rate remained under review for those earning over £150,000 per annum. At this time when the man in the street is facing financial difficulty with price hikes on just about everything, while the wages of many are being frozen or cut and while the rich/poor divide widens further; is this a wise consideration at this time? What are the opinions of the forumers on this? Some background info. Link to comment Share on other sites More sharing options...
Nagel Posted August 13, 2011 Share Posted August 13, 2011 It would be political madness to do this in the current climate and surely George Osborne realises this. Link to comment Share on other sites More sharing options...
chem1st Posted August 13, 2011 Share Posted August 13, 2011 First they should cut police pay and pass a law to evict council tenants whom have been unemployed for more than 6 weeks. Link to comment Share on other sites More sharing options...
Obelix Posted August 14, 2011 Share Posted August 14, 2011 Tax break imminent for those on high earnings? Mr. Osborne has decided in his infinite wisdom that now would be a great time to cut income tax for the wealthiest people in the country. Whilst on Radio 4's Today programme, Mr Osborne 'hinted' that the 50p in the pound rate remained under review for those earning over £150,000 per annum. At this time when the man in the street is facing financial difficulty with price hikes on just about everything, while the wages of many are being frozen or cut and while the rich/poor divide widens further; is this a wise consideration at this time? What are the opinions of the forumers on this? Some background info. When Lamont cut the top tax rate in the 1990's the tax take actually *increased* as it was better to pay the tax here than have it offshore somewhere else. Simply racking the tax up is not guaranteed to bring in extra money - all you do is drive the high earners offshore or indeed to emigrate permanantly.. Link to comment Share on other sites More sharing options...
HeadingNorth Posted August 14, 2011 Share Posted August 14, 2011 When Lamont cut the top tax rate in the 1990's the tax take actually *increased* as it was better to pay the tax here than have it offshore somewhere else. That's certainly true up to a point; obviously it can't always be true because if you reduce the top tax rate to nil, your tax take will be nil. Where's the best point to pitch it? Well, nobody can prove that, and political arguments come into play. Link to comment Share on other sites More sharing options...
Mecky Posted August 14, 2011 Share Posted August 14, 2011 Same old tories, why not make those in tax exiles pay? Link to comment Share on other sites More sharing options...
0742Sheff Posted August 14, 2011 Share Posted August 14, 2011 First they should cut police pay and pass a law to evict council tenants whom have been unemployed for more than 6 weeks. I know i am the first to bite but you are talking tripe Link to comment Share on other sites More sharing options...
ricgem2002 Posted August 14, 2011 Share Posted August 14, 2011 ah the tories have not changed then .maybe cameron could ask vodaphone to pay their tax bill which would in effect pay for the damage caused by the riots oh wait it will be us paying for it. tories eh they do well for the poor in this country Link to comment Share on other sites More sharing options...
donkey Posted August 14, 2011 Share Posted August 14, 2011 When Lamont cut the top tax rate in the 1990's the tax take actually *increased* as it was better to pay the tax here than have it offshore somewhere else. Simply racking the tax up is not guaranteed to bring in extra money - all you do is drive the high earners offshore or indeed to emigrate permanantly.. It is the same threat the banks used after there were half hearted suggestions that they should be held financially accountable for their excesses. If we are going to have a society run from the top on the principles of blackmail, then we can expect to see some more of people at the opposite end of the social scale following their moral lead. Link to comment Share on other sites More sharing options...
dimbat Posted August 14, 2011 Share Posted August 14, 2011 How stupid are you people, all because you dont get anywhere near the 50% pay, if you was a high earner would you really want to pay 50% tax and 11% national insurance? Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.