'Should high earners pay 50% tax?' poll discussion

shubh

I agree with the idea that tax should be levied according to the income level but these should be in justified ratio, otherwise it will start delivering negative impacts upon the economy.

prowla

What this is suggesting is that the people who already pay more tax should pay even more.

David_Cameron

squidworth wrote: »

lols no!!!

add in national insurance (which goes in the same pot as income tax and is just income tax under a different name)

so if your employer decides to "pay you" £100 extra for sake of simplicity then the employer has to pay 12.8% of that as NI leaving you with £87.20 taxable income

then take off that your 11% NI and 20% tax (31% of 87.20 is 26.16) then that leaves you with 61.04, or in other words the standard uk rate of tax is more like 39%

And then there's always VAT... spend the 61.04 and 15% (£9.16) leaves you with 51.88, so the equivalent of 48% of your £100 can go in tax

Its an old thread, but just in case anyone still looks at it, that was very well expressed !:T

harryhound

prowla wrote: »

What this is suggesting is that the people who already pay more tax should pay even more.

This country is deep deep in debt. It has got together with the Yanks to slash internal interest rates for those foolish enough to own money and have lent it out.

If we don't put up taxes, what are your proposals for paying off our rapidly growing national debt?

reddevilled

I think the wealthy are already taxed enough, and to be honest putting this extra 10% on high earners is a headline grabber nothing else.

If the government is serious about sorting the debt in this country they need to start doing big and start doing it now, rather than cruising through to the general election when it will (probably) become someone elses problem.

zygurat789

In the land of the free, the home of capitalism they have more rate bands than we do, with rising tax rates the greater the income. The really high earners in the UK are getting away lightly all they have to do is know a good accountant and if they are employed by the government or the BBC the employer will pay the fees

olly300

As stated above it's headline grabbing and won't achieve anything.

I remember hearing an interview with Borjn from ABBA where he stated he was not unhappy about paying a high tax rate because he was happy to live in a fair and beautiful country.

Unfortunately in the UK due to stealth taxes, governments blantantly wasting money to give it to their rich friends, and destroying industries again to benefit their rich friends, people are not happy to pay more tax.