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People earning over £60000 should have a 0.8 to the pound tax rate? Watch

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    (Original post by Nice.Gnoise.610471)
    This should hopefully explain why you're wrong.

    http://www.ijreview.com/2014/05/1380...lained-beer-2/

    Edit: And what's with all this scorn for people earning above average? Yes, there's a few people at the top earning huge amounts of money, and a few who've just inherited millions, but the vast majority of people earning enough to pay the top rate of tax have worked hard all their lives to get to where they are.

    We should reward ambition. Not demonise it.
    How is it demonising them.

    Do you see the prospect of helping society as a threat?
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    (Original post by JordanL_)
    Except people earrate more money already contribute significantly more money.

    I support socialism, but it seems to me that many of the people insisting that people with more monhipey than them pay more in taxes wouldn't be willing to pay more in tax themselves. You want society to fund everything, but you don't want to have to contribute to it yourself.

    Would you support a tax increase that would actually affect you?
    Absolutely.

    I would happily pay this tax rate knowing I am helping society a lot.

    Infact with the potiential job I could get I could be earning up to £120000 a year and I would happily pay 0.8 in tax above 60000
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    (Original post by ngb9320)
    How is it demonising them.

    Do you see the prospect of helping society as a threat?
    When the top 10% of earners are already contributing the majority of income tax, it's difficult to see an argument for how they're not helping society.
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    (Original post by Noble.)
    When the top 10% of earners are already contributing the majority of income tax, it's difficult to see an argument for how they're not helping society.
    Nobody is saying they don't already help society. However, more can be done.
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    i bet if you earned 60k you would be a lot less keen for it.
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    0.8 on 60k+ ... are you high, OP?
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    (Original post by TheTechN1304)
    The top 1% of the population contribute 27% of the total tax revenue. They already are 'doing their bit'. People should be encouraged to work and should get help to do so. Benefits should supplement an income, not replace one altogether. Taking from the rich and giving to the poor would not do a thing if the money isn't being invested in helping improve their education, job prospects etc. If you set the tax rate to 80%, there would be no incentive for people to work hard and earn more. What would be the point of wanting to earn more money if the government just took it all away? You'd also have a situation where the richest in society flock to other countries with lower taxes. This happened in France: they set the top rate of tax (for over 1m euros) to 75%, and last year they lost 14bn euros in tax revenue. Why? Because people were leaving the country.
    The top 1% own 99% of the worlds wealth, 99% income tax would be fairer!!

    Also you are wrong, the tax increases raised £16 billion, it was however £14 billion less than they had expected.

    Latvia has one of the lowest tax takes in Europe. Sweden one of the highest.
    Where would you rather be?
    Romania also one of the lowest, as people flocking there?
    Nope!!
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    (Original post by ngb9320)
    You would still get £62000 though that would be including the tax taking of under £60000.
    So what about the bracket of £150,000 and up, which both my parents and my brother are in? Say I'm on £200,000, do I only keep £40,000 Also, I fully intend to one day be Conservative leader so I shall be battling you for the PMship.
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    (Original post by esbo)
    The top 1% own 99% of the worlds wealth, 99% income tax would be fairer!!

    Also you are wrong, the tax increases raised £16 billion, it was however £14 billion less than they had expected.

    Latvia has one of the lowest tax takes in Europe. Sweden one of the highest.
    Where would you rather be?
    Romania also one of the lowest, as people flocking there?
    Nope!!
    Hong Kong also has one of the lowest.
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    (Original post by cleverasvoltaire)
    So what about the bracket of £150,000 and up, which both my parents and my brother are in? Say I'm on £200,000, do I only keep £40,000 Also, I fully intend to one day be Conservative leader so I shall be battling you for the PMship.
    You don't quite understand how taxation works do you? Your entire salary is not taxed at the upper threshold, otherwise you'd have situations where someone on £42,385 pays £12,714 in income tax and someone on £42,384 only pays £6,357.
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    (Original post by Noble.)
    You don't quite understand how taxation works do you? Your entire salary is not taxed at the upper threshold, otherwise you'd have situations where someone on £42,385 pays £12,714 in income tax and someone on £42,384 only pays £6,357.
    My family avoid tax so I wouldn't know.
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    (Original post by cleverasvoltaire)
    My family avoid tax so I wouldn't know.
    You'd make an ideal MP then.
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    (Original post by Noble.)
    You'd make an ideal MP then.
    *PM
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    (Original post by EatAndRevise)
    That's not how the taxation system works.

    For example, if you are in the 40% tax band, you only pay 40% tax on the segment of earnings in that income tax band. You don't pay 40% of your whole income, that would be absurd.
    Careful, you're arguing with a future Cambridge University student of the law who will go on to work in a top magic circle chambers and earn £70k in his first year of work. Weren't you listening to him? This 17 year old who hasn't even finished his AS-levels clearly knows far more about this than us plebs.
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    Thank god Labour didn't get in, they'd be pandering to idiots like the OP.

    As long as the lazy in society can keep getting free cash to keep them in cigarettes and Sky tv there will be those who want more without contributing.
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    (Original post by ngb9320)
    People need to be looked after in our society and those at the top need to do their bit.

    Anyone who disputes is q selfish *********.

    It is as simple as that.
    Why 60k? why not 40k? 20k? or maybe people should just work for basic food? :rolleyes:
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    (Original post by cleverasvoltaire)
    Say I'm on £200,000, do I only keep £40,000
    No, that would be ridiculous.
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    (Original post by cleverasvoltaire)
    My family avoid tax so I wouldn't know.
    You, as a future student at Cambridge University, should have the common sense to understand how the system works.
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    Thank **** we don't have socialist **** in power
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    (Original post by EatAndRevise)
    You, as a future student at Cambridge University, should have the common sense to understand how the system works.
    Please do enlighten me. I haven't really looked in to how taxes are calculated (I know, I'm stupid) but is it not better if taxes are as low as possible, so people keep more of what they earn? And you never know, my grades may take a massive dip. But I presume not.
 
 
 
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