Thread: The 2010 General Election Thread: Week 1
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Old 10-04-2010, 16:27   #240
martyh
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Re: The 2010 General Election Thread: Week 1
Quote:
Originally Posted by TheNorm View Post
I like that idea.



I disagree. A young person starting his/her working life should be encouraged to earn money and save money. Raising income tax discourages people from earning money (ask those at the higher rate threshold), and a low rate of VAT encourages spending, not saving.

Or do you want the young person starting his/her working life to forget about saving and borrow, borrow, borrow to spend, spend, spend - just like the government?
yes but what you aren't realising is income tax is proportional to the ammount you earn ,VAT is not someone on minimum wage pays the same vat as someone on £50,000 so any vat increase will affect the lower earner a lot more