Billy Casper 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? I see where you're coming from, but...i wish i was paying 50% tax, which would mean i'm quite wealthy Link to comment Share on other sites More sharing options...
donkey 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? Nobody is suggesting they want to pay it. I'm sure they would like to pay no tax at all. (Some of them don't). Link to comment Share on other sites More sharing options...
dimbat Posted August 14, 2011 Share Posted August 14, 2011 i dont earn anywhere near it, but if i do and have to pay 61% of their income to taxman it gives no incentive to work harder Link to comment Share on other sites More sharing options...
speedbirdone Posted August 14, 2011 Share Posted August 14, 2011 Is there an actual link to prove or disprove that the high tax rate actually increase the money coming in. Isnt it better to get 40% of something than trying to get 50% of nothing. Link to comment Share on other sites More sharing options...
I1L2T3 Posted August 14, 2011 Share Posted August 14, 2011 The weird thing about this is, if say the top 10% earn 50% of the money then why doesn't a tax on the top earners bring in a lot of tax receipts? The answer is they avoid much of their tax liability. Anybody who thinks this move would lead high earners to suddenly start playing ball and drop their myriad tax avoidance scams is naive in the extreme. The real problem is not with the rate, it's about how it gets enforced and it's about all the little loopholes that are allowed to remain in place to help the high earners. They don't need even more help with a rate cut. As always the real story is behind the headline. Link to comment Share on other sites More sharing options...
JFKvsNixon 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. So the chancellor has confirmed that the tax rate remains under review. So nothing has changed then, is this news? Link to comment Share on other sites More sharing options...
speedbirdone Posted August 14, 2011 Share Posted August 14, 2011 The weird thing about this is, if say the top 10% earn 50% of the money then why doesn't a tax on the top earners bring in a lot of tax receipts? The answer is they avoid much of their tax liability. Anybody who thinks this move would lead high earners to suddenly start playing ball and drop their myriad tax avoidance scams is naive in the extreme. The real problem is not with the rate, it's about how it gets enforced and it's about all the little loopholes that are allowed to remain in place to help the high earners. They don't need even more help with a rate cut. As always the real story is behind the headline. Think your pretty much spot on, you could drop the rate down to 20% but im sure the same top earners would use same loopholes. The system is broken not just the % rate. Link to comment Share on other sites More sharing options...
Cyclone Posted August 14, 2011 Share Posted August 14, 2011 Can you give an example of one of these loop holes? Link to comment Share on other sites More sharing options...
muddycoffee Posted August 14, 2011 Share Posted August 14, 2011 Overall I can see the point that the Tories are making when they are trying to find out if this supertax is worth collecting, and they won't know anyway until after the tax year has completed and they get the figures next spring. However ... What is more annoying is why don't they do more to prevent avoidence and avaision of tax. Like for instance making sure all directors of FTSE listed companies have to be registered and paying personal income tax in UK instead of allowing the Corporation of London to continue running as a tax haven where wealthy people don't have to pay tax.. Link to comment Share on other sites More sharing options...
muddycoffee Posted August 14, 2011 Share Posted August 14, 2011 Can you give an example of one of these loop holes? Bob Geldof. A multimillionaire who lives in the home counties, has been an actual resident of England for the last 30 years. But he's registered as domicile in Ireland where he pays a tiny amount of income tax to them on his earnings. Link to comment Share on other sites More sharing options...
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