Just one sec...
Hey there! Sign in to have your say on this topicNew here? Join for free to post

Should we levy a 90% tax on the wealthy?

Announcements Posted on
Take our short survey, £100 of Amazon vouchers to be won! 23-09-2016
    • Thread Starter
    Offline

    1
    ReputationRep:
    What do you think?
    Online

    3
    Stupid idea.
    Offline

    3
    ReputationRep:
    (Original post by Iridocyclitis)
    What do you think?
    no because for my simple and selfish reason. I don't have any money at the moment, but I want to be rich, I want to be successful. I will be rich and successful.
    So why would I want 90% of my money going towards tax? I'd just move to another country. Which would mean UK will be missing out income from my tax and they would lose a business.
    Offline

    1
    ReputationRep:
    Don't be ridiculous
    Offline

    3
    ReputationRep:
    And on this note I think it must be bedtime
    Online

    3
    ReputationRep:
    You're proposing something so beyond stupid and ludicrous.

    Posted from TSR Mobile
    Offline

    2
    ReputationRep:
    No, I support meritocracy.
    Offline

    3
    ReputationRep:
    what would be the point?
    all the wealthy people would leave the country, and tax revenues would significantly decrease
    and with the incentives of being successful plummetting, innovative businesses would become much more sluggish and inefficient, which, again, would strangle the economy...

    socialism has been tried so many times - yet you're saying "aww hell, let's try it just one more time!"? the definition of insanity applies.
    Offline

    2
    ReputationRep:
    I'd be pretty pissed off at 40% tax let alone 90%.
    Offline

    3
    ReputationRep:
    Overkill.
    Online

    3
    Offline

    2
    ReputationRep:
    I'd personally like to see it go down to a top rate of 30% - plus lower corporation tax for small businesses and larger business that are recruiting
    Offline

    2
    ReputationRep:
    No, unless you are referring to inheritance tax.
    Offline

    3
    ReputationRep:
    (Original post by Iridocyclitis)
    What do you think?
    No, there is something called the Laffer curve which shows after a certain optimal point, tax revenues heavily decline as labour will move to countries where the tax rate is cheaper. Therefore, you will likely just penalise the poorer people in the labour force while the richer would just relocate elsewhere.
 
 
 
Write a reply…

Reply

Submit reply

Register

Thanks for posting! You just need to create an account in order to submit the post
  1. this can't be left blank
    that username has been taken, please choose another Forgotten your password?
  2. this can't be left blank
    this email is already registered. Forgotten your password?
  3. this can't be left blank

    6 characters or longer with both numbers and letters is safer

  4. this can't be left empty
    your full birthday is required
  1. Oops, you need to agree to our Ts&Cs to register
  2. Slide to join now Processing…

Updated: September 22, 2016
TSR Support Team

We have a brilliant team of more than 60 Support Team members looking after discussions on The Student Room, helping to make it a fun, safe and useful place to hang out.

Poll
Who is going to win Bake Off?

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.