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

lostinrates

epz wrote: »

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.
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I know several Labour peeps who earn in the MILLIONS!

epz_2

withabix wrote: »

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:

what about a top salesman who lands lots of big contracts for their company, why should they be penalized because of the actions of a bank and ineptitude of the share owners who failed to scrutinize the reward structure.

you cant limit the wages of those people in demand anymore than you can dictate the price of oil in a global economy.

ps why you would want to pay money to see folk kick a leather ball is beyond me

Gorgeous_George

The leeches that take £150K+ salaries should be taxed 60% if not more. 80% for the thieves taking over £500K.

It was much higher before the Tories slashed taxes for the rich and loaded it on indirect taxes to screw the poorer members of our society.

GG

StevieJ

epz wrote: »

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.

No it doesn't as they can claim it back unless they are an exempt business.

misskool

Most businesses don't pay VAT, epz. But I doubt we'll see a 2.5% price reduction, the prices in the shops will stay pretty much unchanged, so it'll feed through that way.

The tax increase if true is pure class war stuff. None of this is about fixing the economy, it's about giving Labour a chance in a snap election with a bit of populism, in 5 years the economic cycle will be on the up again and they'll be off the hook.

epz_2

lostinrates wrote: »

I know several Labour peeps who earn in the MILLIONS!

are they hypocrites like mps who state they ant redistribution and squirrel away their assets so they arent effected or true old labour?

southernscouser

Maybe the rich will stop getting richer and the poor will stop getting poorer.

About time aswell.

lostinrates

epz wrote: »

are they hypocrites like mps who state they ant redistribution and squirrel away their assets so they arent effected or true old labour?

Mixture actually. Most though would class them selves old school. Altough a Labour speechwriter jumps to mind as nu Labour.

epz_2

misskool wrote: »

Most businesses don't pay VAT, epz. But I doubt we'll see a 2.5% price reduction, the prices in the shops will stay pretty much unchanged, so it'll feed through that way.

The tax increase if true is pure class war stuff. None of this is about fixing the economy, it's about giving Labour a chance in a snap election with a bit of populism, in 5 years the economic cycle will be on the up again and they'll be off the hook.

sorry worded i a bit badly, if i sell a widget to the consumer for £1,175 of which my price is £1000 and £175 is vat, assuming vat of 15% and the consumer is still wiling to pay that amount there is an extra £25 a widget margin.

mizzbiz

There's a lot of jealousy over people earning high wages... I thought it was something that people would aspire to. I can't imagine anyone on here turning down 100k plus salary and honestly can't see wy it would make someone a leech.

In my humble opinion, leeches are those that take from people that have more than themselves. That just about describes everyone on here that thinks the tax raise is just and fair. It's abhorrable.

I don'tearn anywhere near the upper tax band, but I don't think those that do should have to be taxed even more, when the government think that it's okay to rescue greedy banks with their money and pay external companies billions to run crazy IT projects that they profit from but which fail.

Oh, and just to add, a VAT cut means nothing to me. A tax cut would have been useful to me, but since I don't splurge on expensive electronics on a credit card I don't have, I am not helped at all with my mortgae, electricity bills or food. Great, thanks GB.