Quote:
Originally Posted by Chris
But that's not how it works. The 50% rate kicks in at £150,000 and affects all your earnings over £150,000. All your earnings below that continue to be taxed at 20% for the first £40,000 of taxable income and 40% for everything between £40,000 and £150,000.
I'm not sure I buy the rather self-serving argument that the higher tax rate disincentivises people from growing their business. People who make £200,000 a year are already generally highly capable and ambitious people who invest and grow their businesses because they can. They don't sit around refusing to do it because the chancellor has taken a few extra quid from their pay.
There does of course come a point where high tax rates become counter productive, but those rates are way, way higher than they are now and they result in emigration of the most mobile and affluent to lower tax regimes elsewhere in the world.
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I am a 50% rate payer and I suggest that taxes for the rich should be raised, and if they leave, any nation that accepts them, will be as well liked as let say Iran!
---------- Post added at 13:35 ---------- Previous post was at 13:34 ----------
Quote:
Originally Posted by martyh
The government NEED to reduce public services
The government are not ,not do they want to sell the NHS
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No they do NOT need to reduce public services, in fact in times like these, they need to enlarge it even more
It only the rich that want to reduce it
