!!!!!! - Clown to raise the top rate of tax to 45%

michaels

On BBC now - last one out of the country please turn off the lights

Also laughing as claim is 'Labour is finally breaking promise of no increase in top tax rate'...except of course they got rid of the upper limit on NI when they increased it last time so they had already effectively increased the top rate to 41%

I forgot - in return they will cut 2.5% off vat so that TV that would cost £587.50 will now cost £575 - don't all rush at once...

Final point - as usual the Govt announces it policies through the state broadcasting mouthpiece [STRIKE]Pravda[/STRIKE] The BBC

needahome_2

michaels wrote: »

On BBC now - last one out of the country please turn off the lights

so hope this is true!

as for turning the lights off, this wont affect the big boys, as they dont pay taxes anyway.

this only affects the middle classes, and where will they go ?

misskool

I don't often say this but what an absolute ****, what does he expect to gain by taxing the middle classes to death except disenfranchising them to work? How does this get the economy moving?

cocktail

once again its the donkey that tills the land that gets the whip.
darn the farmer.

martinman3

It is actually a possible new tax band of 45% for earners of more than £150k.

There is no mention of changing the existing 40% higher rate.

needahome_2

misskool wrote: »

I don't often say this but what an absolute ****, what does he expect to gain by taxing the middle classes to death except disenfranchising them to work? How does this get the economy moving?

disenfranchising them to work !? your having a laugh arn't you ? if your on £36K+ (or whatever the higher rate kicks in), you are hardly going to give your job and live on benefits, let the house be repossesed and go and live on a sink estate.

if gordon brown has any sense, he will squeeze them till the pip squeaks.

the middle classes arn't going to vote for him now the good days are over, and by targetting them it may go some way to labour getting the working classes back on board.

the middle classes have done very well out the brown years, its them who should pay to get the country back in order.

misskool

Just send me your credit card bills, dear, I'll pay them for you. Happy to help.

lostinrates

OH well, looks like we'll be off then. .

I don't, personally, think the financial serives sector is finished the turmoil yet and our return to UK was sentimental and emotional as it was, not financially best for us. I guess I should be glad we haven't bought a house and can leave relatively easily after 2010.

withabix

A 45% rate on >£150k per year is a good idea, although they are conveniently deferring it until after (they've lost) the next election....

There should be a special tax rate on bonuses for people earning over £150k of 70-80% as well, to discourage paying them, along with a higher rate of tax on salaries of over £500k pa to discourage that as well.

Nobody should be paid that much. It's simply not justifiable. Espescially footballers :rolleyes:

lostinrates

needahome wrote: »

disenfranchising them to work !? your having a laugh arn't you ? if your on £36K+ (or whatever the higher rate kicks in), you are hardly going to give your job and live on benefits, let the house be repossesed and go and live on a sink estate.

if gordon brown has any sense, he will squeeze them till the pip squeaks.

the middle classes arn't going to vote for him now the good days are over, and by targetting them it may go some way to labour getting the working classes back on board.

the middle classes have done very well out the brown years, its them who should pay to get the country back in order.

MY DH earns from his job 40k this year. We have NOT done well out of Brown years, we paid our own university fees and saw massive HPI when we might normally have bought a house. I am all for taxing higher earners at a higher rate, but I'm also all for keeping people paying tax in UK. I really love England, but there is a limit to the amount I'm prepared to lose to live here.

epz_2

to say i a no fan of gordon brown is a MASSIVE understatement but economically and politically it kind of makes sense.


politically who cares about folk earning over 150k, i doubt a single one would vote labour anyway,it also puts the torys on the back foot.

economically cutting VAT automatically reduces business costs by 2.5% so it gives the business a window to either cut prices which will be much more noticeable to consumers than a few extra quid getting electronically transferred to folks banks.

Alternatively if a business unable to raise its prices for any number of reasons they may be able to cream off some of that reduction in prices to keep the business going.