Should the rich be squeezed more?

marklv

PrivatisetheNHSnow wrote: »

Good luck persuading people that earn that money to stay in the UK then.

It's 60% + 11% NI + no personal allowance.

Good riddens to them.

marklv

Generali wrote: »

You have no idea. No understanding of economics, psychology or politics.

Oh I have lots of ideas and a lot of understanding. And I understand that you cannot run the finances of a country properly if you allow the top 1% to wallow in money while ordinary lower and middle class families struggle to pay the mortgage and put food on the table.

Procrastinator333

marklv wrote: »

Good riddens to them.

And when the person paying £50k of income tax on £150k leaves, how will you make up that shortfall?

marklv

Batchy wrote: »

Stupid Poll, if you take away entrepreneurs, then how will the non entrepreneurs be earning money, who will bother to own a business and have the hassle of employing people, ie lower earners.

Keep tax at 40% dont worry about the 50% its just driving business out of the UK. There are always tax loopholes and its always the rich who pay good money to find them out legally. the more you earn the more tax your pay, encourage people to earn more and YOU ie the government earn more... if you tax at 98% then the idividuals will not aspire to earn huge amounts... just enough, this would natually limit tax's Greedy governments are not the answer

Entrepreneurs don't necessarily employ many people - big companies do, and they are owned by shareholders, not single businesspeople. Moreover, where are all these wheeler dealing entrepreneurs going to go? A lot of them have close links and family in the UK - they can't just disappear overseas. And to be frank, I would tax them even when they're overseas - if they left the country deliberately to avoid tax I would throw them in prison.

marklv

Procrastinator333 wrote: »

And when the person paying £50k of income tax on £150k leaves, how will you make up that shortfall?

Tax them when overseas or jail them, that's how.

marklv

Batchy wrote: »

Your forgetting company car tax... tax at 40% of some ridiculous figure including what might be fuel tax too.
Your forgetting the fact that these people who are paying for NHS probably have BUPA too and are making provisions for their own retirement rather than relying on the state pension scheme.
Your forgetting RFL on cars, £1k first year on a pretty nice car... like a hot hatch even, sporty car
Your forgetting the extra STAMP duty on higher priced propertys
Your forgetting the 40% tax on inheritance over 300k ish

They do tax the higher earners, quite severely... IMO 50% and 60% is counter productive.

I would cut corporation tax to balance the higher income tax. This would ensure that businesses invest in creating jobs and not pay out to fat cat executives.

Franglais

chucky wrote: »

what a stupid poll and a pathetic thread

Would you like me to:

A) Shoot this cute puppy in the head?
Stab it repeatedly with a kitchen knife?

The OP must be a NuLiebor stooge - stupid questions get stupid answers...

marklv

chucky wrote: »

what a stupid poll and a pathetic thread

No more stupid than the one about public sector pensions.

Procrastinator333

marklv wrote: »

Tax them when overseas or jail them, that's how.

So, say a high flying marketing executive, goes to live in America. He is now paid $300k. He pays all of his US taxes as required. You would want to tax that income even though he no longer lives in the UK? I'm not even sure that would be legal under international law. What happens if that person ends up taking US citizenship? You are then going to tax a US citizen who lives and works in the US?

Ok, lets just say this actually comes in to effect. You end up throwing them in to jail. You have now not only lost their tax income, but also have to pay the £100k a year it costs to keep someone in prison.

I just can't help but think you are a troll and don't actually believe any of this.

marklv

FATBALLZ wrote: »

The useless rich should have much of their wealth repossesed, the ones who own vast swathes of land due to being born into the right families, but who don't have any useful economic output. Taxing highly skilled and entrepeneurial people who as a result earn a lot out of jealously is counter-productive.

I wouldn't increase the marginal tax rate on anyone earning under £85k a year. How many people earn above that? Around 1% of the workforce, maybe less. And I would balance things out by reducing business rates and corporation tax, giving more incentives to businesses to employ people. I would also get rid of NI altogether and have a basic rate of income tax of around 31-32%. Huge business benefits!