Thread: PM Boris forms a government
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Old 28-07-2019, 13:57   #957
1andrew1
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Re: [Update 2] PM Boris forms a government
Quote:
Originally Posted by Hugh View Post
Do you mean the recent UK history where higher tax rate payers took the bonuses early to avoid the introduction of 50%higher rate, thus spiking the revenue that year and lowering it the following year? (the tax revenue went back up the following years...).

Some people "know" the Earth is flat - doesn’t make it true...
If the lowest possible rate (0%) maximised total tax payments and the highest possible rate (100%) minimised them then governments would set them all at 0%.
The truth is that the rate that maximises total tax payments is somewhere between 0% and 100%. But to continuously cut taxes won't increase the tax return as logic suggests you will end up charging no tax whatsover!
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