Quote:
Originally Posted by pip08456
Consider this, just a small example. A football player earning the millions they do having to pay 10% PAYE rather than a shell company being created around them to avoid paying tax.
If everyone had to pay 10% on monies they received before any relief claim on a PAYE basis. This country would be so much richer.
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I like your thinking on the avoidance aspect. You would need a variable scale to accommodate the differing degrees of wealth.
---------- Post added at 15:42 ---------- Previous post was at 15:40 ----------
Quote:
Originally Posted by pip08456
If a person has assets worth billions consider how much the 20% tax on the unearned interest on those billions will be. Certainly more than now.
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The definition of earnings is too nuanced, deliberately so. You would need to implement via a Wealth Tax rather than an Income tax.