Anna Glypta Posted March 11, 2013 Share Posted March 11, 2013 Millionaires can pay really low rates on their millions, yet we pay a set rate on our PAYE income and 70% on our fuel; and a very high rate on our cigs n alcohol. It works out that those earning less pay a higher percentage of tax than the rich. Perhaps Ray was just doing it for publicity? That is rather at odds with this from the Financial Times. http://www.ft.com/cms/s/0/969a605e-3616-11e0-9b3b-00144feabdc0.html#axzz2NGq6HbV5 Top 1% poised to pay 25% of income tax By Vanessa Houlder Under 1 per cent of taxpayers are expected to pay a quarter of all income tax this year, according to official projections. The importance of this group of about 275,000 people – three times the number that can fit into Wembley stadium – who will pay the new 50p tax rate is a measure of Britain’s highly skewed income distribution and progressive tax structure. Further up the scale, 13,000 people earning more than £1m a year are expected to pay an average of £1m each, accounting for 7 per cent of the total bill, figures published by HM Revenue & Customs show. It seems that 0.05% of the population pay 7% of all income tax. Link to comment Share on other sites More sharing options...
El Cid Posted March 11, 2013 Share Posted March 11, 2013 That is rather at odds with this from the Financial Times. You need to get your 'facts' right "the number of people earning over a million pounds each year is just 6,000" http://fullfact.org/factchecks/Labour_Conference_Ed_Miliband_tax_cut_millionaire-28361 I am not sure which is more important, my sleep or showing more of your 'facts' to be wrong Link to comment Share on other sites More sharing options...
Cyclone Posted March 12, 2013 Share Posted March 12, 2013 it could also happen here as you say, but before they go tax them at a % of their earnings equiavalent to that of a paye employee. :hihi: So you tax them one years worth of pay (assuming you could legally achieve it which I doubt) and they leave for ever. Well done, big grins all around. Link to comment Share on other sites More sharing options...
Supertramp Posted March 12, 2013 Share Posted March 12, 2013 You need to get your 'facts' right "the number of people earning over a million pounds each year is just 6,000" http://fullfact.org/factchecks/Labour_Conference_Ed_Miliband_tax_cut_millionaire-28361 I am not sure which is more important, my sleep or showing more of your 'facts' to be wrong And...... Surely you don't want to tax people's wealth as well as their earnings. Link to comment Share on other sites More sharing options...
alchresearch Posted March 12, 2013 Share Posted March 12, 2013 The article claims he was unhappy back in 2008. I wonder why he didn't leave them. Perhaps he knew Labour's time was up and thought he'd get better treatment from the Tories. Link to comment Share on other sites More sharing options...
Anna B Posted March 12, 2013 Share Posted March 12, 2013 Why don't we go back to the root of the problem, and get the money from the bankers? Get them to repay all the bonuses of the last ten years. Defecit paid. Problem solved! Link to comment Share on other sites More sharing options...
Electerrific Posted March 13, 2013 Share Posted March 13, 2013 I'm sure Ray is really worried about what SF-ers think. Link to comment Share on other sites More sharing options...
Cyclone Posted March 13, 2013 Share Posted March 13, 2013 Why don't we go back to the root of the problem, and get the money from the bankers? Get them to repay all the bonuses of the last ten years. Defecit paid. Problem solved! It's been spent. It's probably massively smaller than the deficit. The deficit is not the debt, you need to know the difference. The deficit is not the fault of the bankers at all. Problem not addressed at all, just convenient scape goats punished. Link to comment Share on other sites More sharing options...
gnvqsos Posted March 13, 2013 Share Posted March 13, 2013 It's been spent. It's probably massively smaller than the deficit. The deficit is not the debt, you need to know the difference. The deficit is not the fault of the bankers at all. Problem not addressed at all, just convenient scape goats punished. The deficit is part of the debt,as any deficit augments the national debt.The bankers did contribute as their actions precipitated a recession.Recessions always raise expenditure and reduce revenue due to automatic stabilisers(forgive the technical term) Link to comment Share on other sites More sharing options...
Mecky Posted March 13, 2013 Share Posted March 13, 2013 The article claims he was unhappy back in 2008. I wonder why he didn't leave them. Perhaps he knew Labour's time was up and thought he'd get better treatment from the Tories. Because everyone knows that people who say they are going to leave is an empty threat. I'd be the first to slam the door on their bums on their way out. Link to comment Share on other sites More sharing options...
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