Debate House Prices
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What extra taxes would you volunteer to pay?
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I would also be willing to pay a tax that took a small % of all estates when people died and used it to provide a guaranteed basic level of care for those needing residential care.
The tax would have to exempt small estates (say under £15K) and allow some provision for it to be deferred for a couple.
There would also need to be some provision for avoidance such as levying the tax on the sale any asset worth over £100K unless it was being sold to buy an equivalent asset.
That way apart from those with small estates we would all pay towards elderly care if we needed it. It would also be re-distributive in terms of wealth.Few people are capable of expressing with equanimity opinions which differ from the prejudices of their social environment. Most people are incapable of forming such opinions.0 -
I can afford to buy rap music but have enough good taste to not want to. I'd tax it tot he hilt. I'd earmark the income to subsidise music education and particularly singing lessons.
I'd rename TV license a radio tax and (as they do in Israel) add it to fuel tax as motorists listen to the radio as they drive.
I would abolish the TV tax completely.
Channel 4 proves that public service broadcasting can be paid for by advertising and commercial revenue streams without taxing every household in the land to watch carp like Come dancing0 -
I would abolish the TV tax completely.
Channel 4 proves that public service broadcasting can be paid for by advertising and commercial revenue streams without taxing every household in the land to watch carp like Come dancing
It does seem a bit silly when you consider the amount of rubbish that the bbc push out and the amount their "personalities" get paid - i have never had the remotest interest in watching tv but i have to put up with regular junk mail from tv licencing which goes straight in the bin0 -
I have always thought inheritance tax was a good tax.0
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Personally as I don't work what I could pay extra is limited but I would not object to a new 10% VAT rate to be imposed on everything that is currently zero rated.
More generally; Freeze the lower income tax limit for 5 years whilst increasing the upper limit by cpi +1%, increase the upper limit on NI by 5% per year for 5 years, increase NI on employers who employ 1000 or more people by 1%, reduce the cost of some prescription drugs on the NHS by allowing chemist to sell a wider range of medication as they do in other countries.0 -
sevenhills wrote: »I have always thought inheritance tax was a good tax.
Many have argued it's the best tax of all, as you never have to pay it. And as the Americans have said, it prevents dynasties and incentivises wealth generation while disincentivising "rent-seeking" in future generations.There is no honour to be had in not knowing a thing that can be known - Danny Baker0 -
VAT on all foods
Standard rate VAT on electricity and gas
Together will bring in about £10B + £5B
I would say use it to reduce the deficit but I don't think any government is likely to push that down below 3% of GDP so instead I'd say use the £15 billion to cut corporate tax to 10% at the same time increase dividend taxes and CGT by a little bit so there is no windfall benefits to current share owners. I think the result would be more economic activity and jobs and productivity in the UK0 -
Would it actually bring in any money? If you make food 20% more expensive, lots of people will take that 20% from somewhere else, and thus not pay any VAT on whatever luxury items they can no longer afford. You'd also really hurt local economies as you'll produce a noticable drop in non-vital spending.0
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I would also be willing to see a £5 per day London wide congestion charge for cars and £10 per day for vans £20 per day for HGVs
Should be used to cut London council taxes.
I think it could just about replace council tax.
The benefits would also be maybe about 20% less London car miles and more than 20% less traffic congestion. Would improve the city.0 -
How would I as an individual know what was intended and what was not.but that some people choose not to pay taxes through avoidance and evasion methods that Parliament never intended to make possible.
So for example I do salary sacrifice into my pension.
As the government allows this (and continued to allow it when stopping some other salary sacrifice benefits) then I think I'm entitled to assume they intended to allow this.
What about people (not me) who salary sacrifice and get in-work benefits.
Did the government intend this? How would I know whether they intended it or not?
If they didn't intend it then why is it so difficult for them to close the "loophole" i.e. not include salary sacrifice in in-work benefit calculations.
That to me does not seem like rocket science, so am I not entitled to think that they've set things up as they intended?
I think we might know if it was a very complicated constructed financial instrument but in very simple cases (such as salary sacrifice and benefits) then how are we supposed to know what was and wasn't intended?0
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