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The 50% Tax Rate
Comments
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Are you seriously advocating some kind of legislation that limits the maximum someone can earn to being six times the national average?
I always admire an idealist, but the reality is human beings are not ideal. In every instance in history those revolting classes have been led by a self-serving tyrant who eventually ends up being suppressed himself - Robespierre in your colourful example, of course.
As many - inlcuding myself - have said. The well-paid dont mind contributing a fair amount. 50% plus National Insurance is NOT a fair amount and just discourages people from contributing at all one way or the other. Osborne understands this and that is why he is asking Treasury officials to come up with what this tax is actually costing the country, not benefiting it.0 -
It's a question of focus. One guy might apply his hard work and intelligence to organising the warehouse or scheduling the lorries, and the next guy will apply his hard work and intelligence entirely to the business of climbing the greasy pole. Which one gets to the top?
It's funny, I've worked in HR within a variety of sectors for 12 years now and not once have I ever advertised for the position of 'Greasy pole climber' I would suggest that businesses which hired staff soley on their ability to schmooze and brown nose will fail very quickly indeed.
Everyone needs to add value these days, those that can demonstrate both excellence in their current role plus the drive/ability/intelligence to learn and develop (and shock horror, this may include the willingness to 'network') will have a greater chance of moving up the ladder .
Many people may be deemed to be doing a good job in a company. However those that demonstrate no real desire to develop themselves, take on more responsibility or seek promotion will not reach the top tier. In most companies, it really is that simple.Go round the green binbags. Turn right at the mouldy George Elliot, forward, forward, and turn left....at the dead badger0 -
No of course not. That could only be achieved as part of a major reform of society. Probably won't happen. But we may realise too late that it needed to happen.Are you seriously advocating some kind of legislation that limits the maximum someone can earn to being six times the national average?
Meanwhile I only observe that fortune has smiled on those making £150K, so their protestations of injustice ring a little hollow. They have to redefine fairness in a way that takes no account of the distribution of luck.
That's not to say it's unfair that some people win the lottery. Just that lottery winners should count their blessings before they start moaning. If things go against them, well, they've had a massive head start and they're still ahead.
The leader doesn't create the mood or the cause, he only exploits it. He's no different from the people he's decapitating. The revolution fails unless he too is got rid of. "Let them eat cake" isn't always followed by a successful revolution. Most revolutions destroy, but then fail.In every instance in history those revolting classes have been led by a self-serving tyrant who eventually ends up being suppressed himself - Robespierre in your colourful example, of course.
No doubt they will conjure up the necessary specious arguments and bogus figures. After all, they've got years of experience in producing whatever economic forecasts the Government wants.Osborne understands this and that is why he is asking Treasury officials to come up with what this tax is actually costing the country, not benefiting it.
Will you settle for 40% top income tax rate and 12% NI all the way up, no top limit? OK, you can have 10.4% contracted-out rate."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
You were the one who talked about decimating the tax revenues. Are you claiming that your 15% rate would increase the tax take, just by not driving high earners abroad?I'm settling for 15% maximum, and no National Insurance.
I'd like to see Osborne get the mandarins to prove that."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
You were the one who talked about decimating the tax revenues. Are you claiming that your 15% rate would increase the tax take, just by not driving high earners abroad?
I'd like to see Osborne get the mandarins to prove that.
I'm not claiming anything. I now no longer give a damn what happens to the UK tax reserves, sorry.
I'm simply saying what I have opted for instead . . .0 -
Well if there's no feasible UK tax regime that would have got you to stay, what are you trying to say?I'm not claiming anything. I now no longer give a damn what happens to the UK tax reserves, sorry.
I'm simply saying what I have opted for instead . . ."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
Interesting point though . . if a place like HK can thrive on a top tax rate of 15% (and few pay that much) and yet still manage to issue a tax rebate back to every single citizen this year of HK$6000 (around five hundred quid) because of it's massive budget surplus, and it only has a few million people, why can't Britain?
I look around HK and the streets are clean. Things work. Rubbish is picked up. Public hospitals take care of the sick. Public pensions take care of the elderly. The unemployed get benefit, but are also encouraged to find new jobs, there are no homeless people on the streets etc.
So what's going on?
Could it possibly be that the tax regime here is seen as fair enough to encourage high earners and entrepeneurs to say - yeah, i'm happy to pay that - instead of using tax avoidance schemes and emigrating to stop paying for a welfare dependent state like Britain?0 -
"It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0
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Is cheap labour worse than cheap support of not in work? One of the interesting things is, DH's tax, if halved, would pay for a full time very well reimbursed person here, or two part time ones. The oney would still enter the system but more directly, people would have pride and self worth and enough to save.Duh. Cheap labour.
Supose tax rates stayed as they were unless the money were used for goods/services to keep thers earning /in business...could that work? I doubt it....would cost a LOT to keep tabs on!0
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