100% income tax?

the_ash_and_the_oak

sounds kinda socialist imo?

The_White_Horse

the_ash_and_the_oak wrote: »

If I pay 50% tax on one thing and 50% tax on another thing do i pay 100% tax

nooooooooooooooooooooooooooooooooooooooooooooooooooooo

the_ash_and_the_oak

then there is something of an error with this thread

The_White_Horse

the_ash_and_the_oak wrote: »

sounds kinda socialist imo?

not at all. these banks are skint. they only have money because of the billions pumped in. bonuses should come out of profits. If these banks were in the black and making profits of their own backs, then the bonuses could be whatever they want.

However, when they are making massive losses, there is no place for bonuses.

this is the same principal for the public service. you don't make profits, and hence, there should be no bonus.

the_ash_and_the_oak

cheers brezhnev!

Graham_Devon

The_White_Horse wrote: »

sobankers who now pay 50% on their bonus, will, after the announcement pay 50% on their bonus. genius labour.

unless they mean the pool will be taxed at 50%. so they will get half the bonus they were going to get, and then pay 50% on that.

Still not good enough. these people get hundreds of thousands. so instead of getting a bonus of 100k they will get 50k - how will they manage.

they should just tax any bonus amount over 5k at 95% for one year. job done.

All the bonuses will be put into a pool in the bank.

So say that pool is £1m, it's taxed at 50%, leaving 500k.

The 500k left over then get's given to employees as the bonus.

The employee will then most probably pay 50% on what they recieve.

I personally believe the bonuses should not be paid until the banks are actually running on their own and they have paid the taxpayer back. However, on the other hand, I believe we should have sorted the problems at the begining, not now.

drc

I'm curious as to how much money the bankers actually contribute to the UK economy. If they were all to relocate to Switzerland or wherever, how would this realistically affect the UK economy?

Graham_Devon

drc wrote: »

I'm curious as to how much money the bankers actually contribute to the UK economy. If they were all to relocate to Switzerland or wherever, how would this realistically affect the UK economy?

Apparently, a quarter of income tax is paid by the top 1% of earners.

Dunno how true it is. Just a BBC snippet from the radio this morning. If it is true, it's a significant amount.

My main problem with all those people just moving elsewhere is that it appears to simply be blackmail. I guess now, we will see if the action threatened is the course they will actually take. I'm somehwat skeptical.

The_White_Horse

i think the Govt should look after those who pay most tax at the expense of benefit scroungers.

what about, instead of a bonus, each banker gets a slave family - where they have all been on benefits for longer than 5 years.

As i say, i have nothing against bonuses at all - provided the company paying them is doing so from their own profits.

drc

Graham_Devon wrote: »

Apparently, a quarter of income tax is paid by the top 1% of earners.

Dunno how true it is. Just a BBC snippet from the radio this morning. If it is true, it's a significant amount.

My main problem with all those people just moving elsewhere is that it appears to simply be blackmail. I guess now, we will see if the action threatened is the course they will actually take. I'm somehwat skeptical.

The problem is that if all the bankers leave, the tax take drops. It is a lose-lose situation and the whole industry should have been regulated years ago. It's too late now, nu-Labour are bolting shut an empty stable.