Much deeper cuts and much lower taxes
Slightly deeper cuts and slightly lower taxes
No change in spending or taxation
Slightly more spending and slightly higher taxes
Much more spending and much higher taxes
Slightly more spending and slightly more borrowing
Much more spending and much more borrowing
Other - specify
No evidence to suggest otherwise? How else do you explain how the tax base actually increases when high tax rates are lowered? And your rudimentary calculation was false, because I already told you the total cost nationwide is £400m. You were flat out wrong.
(Original post by Virtus May)
Ironic much? What about the rubbish that you're pulling from your own arse? The tax evasion theory is a complete farce used by the incumbent political party to justify the lowering of additional tax rates. Any tax evasion will persist at the same rate. There's simply no evidence to suggest otherwise. I'm sorry if you're unable to understand the rudimentary calculation that I made, it was made to emphasise a point. Furthermore, so what if the top 1% are being taxed at a greater proportion than what they own? They're still earning significantly more than those earning less than them, so it's perfectly justified. It's mathematically absurd to assume that increasing tax rates on the wealthy will 'more than likely' lead to a decrease in overall tax revenues. Increased tax rates equate to significant increases in tax revenues, obviously. Factors such as tax evasion figures have a negligible impact, there simply isn't any credible evidence to suggest this. It seems that you're being contentious for the sake of it, perhaps we should drop this discussion seeing as you clearly don't understand what's going on.
Someone else already mentioned the laffer curve, and a study last year by Peter Diamond and Emmanuel Saez, when adapted to the UK, concluded that the optimal higher rate is 42%. But of course, like any leftie just ignore all of that, and attempt to bash the rich for the sake of it. To demand a 60% rate proves all you are interested in is class warfare.
I went for other, preferring "better cuts and better taxation" Cut the militarism, regulations, and excessive licensing. Once this is done you may not have to diminish any public services or benefits. Though regarding the latter, I would ideally like to replace the entire benefits/taxation system with a flat sales tax and universal prebate up to the poverty line. That is wildly optimistic though.
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