wednesday1 Posted May 4, 2013 Share Posted May 4, 2013 True but the medicine doesn't always taste nice. Doesn't taste too bad if you're on £1 million a year and the ConDems have just given you a tax cut worth atleast £42,500 a year! All in it together! Link to comment Share on other sites More sharing options...
WeX Posted May 4, 2013 Share Posted May 4, 2013 Doesn't taste too bad if you're on £1 million a year and the ConDems have just given you a tax cut worth atleast £42,500 a year! All in it together! wasn't the upper rate of tax nothing more than a folly to appease die hard Labour socialists who want to see the Lords of the Manor pay higher tax? When in fact it didn't raise anywhere near as much as it was supposed to. What have the government done for the rest of us? Well for a start they are raising the personal allowance to £10,000pa That is a tax break for ALL. Thats has to be a good thing right? I suppose there is only one example of any of our peers raising their top rate of tax and that is France. How well are they doing? What is the top rate of Tax in Germany for example? Link to comment Share on other sites More sharing options...
percy filth Posted May 4, 2013 Share Posted May 4, 2013 Doesn't taste too bad if you're on £1 million a year and the ConDems have just given you a tax cut worth atleast £42,500 a year! All in it together! If you were a company like Pimco trying to get a top investment banker like Andrew Balls to move to London to run European Operations do you think he would expect to take home more or less of his $8 million salary after tax? Link to comment Share on other sites More sharing options...
wednesday1 Posted May 4, 2013 Share Posted May 4, 2013 wasn't the upper rate of tax nothing more than a folly to appease die hard Labour socialists who want to see the Lords of the Manor pay higher tax? When in fact it didn't raise anywhere near as much as it was supposed to. What have the government done for the rest of us? Well for a start they are raising the personal allowance to £10,000pa That is a tax break for ALL. The top 14,000 earners benefitted from this generous tax cut. 14,000 x £42,500 = 595 Million lost to the tax take. This is of course the bare minimum fig as many of these will earn much more than £1M. Infact (from the Guardian) 'the changes mean that 643 bankers, each earning more than £1m, could get a combined tax cut worth at least £34.6m'. Still, it's not like we need the money is it? Link to comment Share on other sites More sharing options...
percy filth Posted May 4, 2013 Share Posted May 4, 2013 The top 14,000 earners benefitted from this generous tax cut. 14,000 x £42,500 = 595 Million lost to the tax take. This is of course the bare minimum fig as many of these will earn much more than £1M. Infact (from the Guardian) 'the changes mean that 643 bankers, each earning more than £1m, could get a combined tax cut worth at least £34.6m'. Still, it's not like we need the money is it? But isn't that ignoring the folk like Andrew Balls who moved from New York to London rather than Frankfurt? I note that the increase in upper tax rate in France was a bit of a flop as many of the really high earners merely switched their address to London Brussels or Berne. Link to comment Share on other sites More sharing options...
wednesday1 Posted May 4, 2013 Share Posted May 4, 2013 But isn't that ignoring the folk like Andrew Balls who moved from New York to London rather than Frankfurt? I note that the increase in upper tax rate in France was a bit of a flop as many of the really high earners merely switched their address to London Brussels or Berne. I couldn't give two hoots about Andrew Balls or his ilk. As for French bankers their tax rate was increased to a much higher level of 75% so your comparison is totally invalid. Link to comment Share on other sites More sharing options...
MrSmith Posted May 4, 2013 Share Posted May 4, 2013 Doesn't taste too bad if you're on £1 million a year and the ConDems have just given you a tax cut worth atleast £42,500 a year! All in it together! There wasn't a 50% tax rate under Labour so why should there be one now. 6 April 2010 New 50% tax rate comes into force for top earners February 2013 BRITAIN’S higher earners will shoulder more than 60% of the country’s income tax burden this year, despite representing only 14% of taxpayers, new figures show. Link to comment Share on other sites More sharing options...
wednesday1 Posted May 4, 2013 Share Posted May 4, 2013 There wasn't a 50% tax rate under Labour so why should there be one now. 6 April 2010 New 50% tax rate comes into force for top earners February 2013 BRITAIN’S higher earners will shoulder more than 60% of the country’s income tax burden this year, despite representing only 14% of taxpayers, new figures show. I won't be wasting my time responding to your made up garbage Maxy! Link to comment Share on other sites More sharing options...
MrSmith Posted May 4, 2013 Share Posted May 4, 2013 I won't be wasting my time responding But you just responded. Top 14 per cent of taxpayers pay 60 per cent of all tax The wealthiest one per cent of taxpayers, nearly 300,000 people who earn more than £150,000 a year, are shouldering 26.5 per cent of the income tax burden. Link to comment Share on other sites More sharing options...
Mister M Posted May 4, 2013 Share Posted May 4, 2013 Well, I am just speechless at this. Had it been reported in the Daily Mirror I wouldn't even have bothered to read it thinking it couldn't possible be true. But the story is reported in the right wing Tory supporting Daily Telegraph. Tory supporters please give your valuable opinions on this story. http://www.telegraph.co.uk/finance/financialcrisis/9272356/Turn-off-your-iPad-David-Cameron-and-start-dealing-with-Britains-debt.html Are they spending more on things like infrastructure projects to try to stimulate growth in the economy, it isn't clear from the article.... Link to comment Share on other sites More sharing options...
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