Anna B Posted January 26, 2014 Share Posted January 26, 2014 So, boys and girls, what do we think to Labour's 50p tax rate proposal, on earnings over £160,000? Personally I'm in favour, (surprise,surprise), but what do you think? (If I knew how to do it, I'd do a poll, - if anybody else wants to add one feel free.) Link to comment Share on other sites More sharing options...
Mecky Posted January 26, 2014 Share Posted January 26, 2014 50p or 1p, big corps would still try and avoid it Link to comment Share on other sites More sharing options...
LeMaquis Posted January 26, 2014 Share Posted January 26, 2014 50p or 1p, big corps would still try and avoid it It's on income tax. So it won't affect corporations. ---------- Post added 26-01-2014 at 18:31 ---------- So, boys and girls, what do we think to Labour's 50p tax rate proposal, on earnings over £160,000? I'm actually in favour. They should have done it in 1997 instead of waiting till they were almost out of office. The Tories have cut income tax for the rich while everyone else has to put up with cuts to reduce the deficit. It said on the BBC this morning that even a Daily Mail poll showed 60% in support. Of course the BBC is a communist front that disseminates little other than lefty propaganda in Somali but in this case it appears to be true; http://www.dailymail.co.uk/news/article-2546078/Labour-civil-war-Balls-lurches-Left-soak-rich-50-cent-tax-bombshell.html Link to comment Share on other sites More sharing options...
Pritt Stick Posted January 26, 2014 Share Posted January 26, 2014 How does this work? Is a person's whole income taxed at 50% or only the income above a certain point? Seems wrong to me. A person that earns 150k already pays a lot more tax than a person that earns 20k in real terms. Do we really have to tax them at a higher rate as well? Link to comment Share on other sites More sharing options...
LeMaquis Posted January 26, 2014 Share Posted January 26, 2014 How does this work? Is a person's whole income taxed at 50% or only the income above a certain point? Seems wrong to me. A person that earns 150k already pays a lot more tax than a person that earns 20k in real terms. Do we really have to tax them at a higher rate as well? You'd only pay 50% above the threshold. A person earning over 150k can afford to pay more tax. Why anyone earning a low salary would feel sorry for these people I have no idea. Link to comment Share on other sites More sharing options...
ivanava Posted January 26, 2014 Share Posted January 26, 2014 So, boys and girls, what do we think to Labour's 50p tax rate proposal, on earnings over £160,000? Personally I'm in favour, (surprise,surprise), but what do you think? (If I knew how to do it, I'd do a poll, - if anybody else wants to add one feel free.) Bad idea, but it will appeal to the masses. Link to comment Share on other sites More sharing options...
BoroB Posted January 26, 2014 Share Posted January 26, 2014 Interesting article in the Guardian on the 50% tax rate: http://www.theguardian.com/politics/2014/jan/26/ed-balls-labour-handling-economy-crash According to Labour's Lord Myners implementing a 50% tax rate is a return to the 'politics of envy'. Link to comment Share on other sites More sharing options...
ivanava Posted January 26, 2014 Share Posted January 26, 2014 You'd only pay 50% above the threshold. A person earning over 150k can afford to pay more tax. Why anyone earning a low salary would feel sorry for these people I have no idea. Its nothing to do with feeling sorry form them, taking money away from people decreases their spending power, and spending money increases employment and is good for the economy. Link to comment Share on other sites More sharing options...
Obelix Posted January 26, 2014 Share Posted January 26, 2014 You'd only pay 50% above the threshold. A person earning over 150k can afford to pay more tax. Why anyone earning a low salary would feel sorry for these people I have no idea. Argumentum ad odium.... Just because you may not like it doesnt mean that it's not right. Link to comment Share on other sites More sharing options...
SpikeMac Posted January 26, 2014 Share Posted January 26, 2014 It doesn't really matter, because most people who earn that much can afford good accountants. As a result, they wouldn't pay 50% anyway. It is all window dressing. What we really need to do is to get to grips with companies that pay such huge salaries at the top, whilst refusing to pay a living wage to those at the bottom. The result of that is that the in-work benefits claimed by the more lowly employees are really just subsidisng the noses in the trough at the top. I'd like my Government to work out a way to stop my taxes subsidising Justin King's wages. Then I don't mind if he only pays 40% tax. Link to comment Share on other sites More sharing options...
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