Do you think tax in the UK is too high?

The global average for corporation tax is ~22% so i think that 20% given that taxing profits is relatively unharmful in a competitive market vs business rates for example which are an actual cost to doing business in the UK.

Governments (and yes, i'll concede that the Tories are fans of it) raise VAT because its one of the easiest taxes to generate high revenues from (albeit very cyclical). Unfortunately though it is by definition something that in a competitive market raises prices, decreases demand and therefore reduces employment relative to not having VAT.

It's also regressive as a tax too as the wealthy don't buy vastly more products than say a middle class person does.

Far more progressive tax wise to tax profits than consumption, gives a massive boost to the poor and middle class

Posted from TSR Mobile

Indeed. The poor have a higher marginal propensity to consume.

Which is why you take some money from the top and give it to them if you want to stimulate the economic ecosystem.

The first thing to remember is that taxes nowhere near fund our public services. However, I do think if they lowered income tax they'd probably take more revenue as people would spend more money which can be collected through VAT, Corporate Tax and economic growth.

My view is:

1. National Insurance should be scrapped so we just have one very clear income tax.

2. The tax bands should increase each year with inflation.

3. The personal tax free allowance should apply to everyone and not just those earning less than £100,000 per year.

4. The personal tax free allowance should increase in line with the minimum wage so no one on the minimum wage pays income tax.

5. Benefits should be capped at the tax free allowance.

6. The 40% tax bracket should not kick in until £75,000 or where it should kick in if it had moved with inflation.

7. The 45% tax bracket should kick in at £250,000, again to ensure it moved with inflation.

8. There should be a super all-in tax of 49% on those earning more than £500,000 in basic salary (i.e. celebrities, senior bankers and corporate executives)

The problem with our tax system is that everyone is taxed heavily rather than the super top earners, who are taxed nearly the same as those on extremely modest incomes.

I've always found it bizarre that a middle class earner on £150,000+ basic salary is in the same tax bracket as a CFO on £800,000 who in turn is in the same tax bracket as a hedge fund manager on £10,000,000. No idea why our tax system doesn't account for the large disparity in earnings.

They need to address corporate tax too as many companies aggressively avoid this.

Posted from TSR Mobile

Yes but you need to look at the reasons why people have to pay tax, it funds public services such as police, fire service and health-the rich do not actually pay tax, or pay very little i know someome who was self employed as a sole trader he made 40k and kept his tax and NI contributions below £10 . Also part of the problem is the population of our country we have too many foreigners who use our services free of charge IE NHS, and they are likely to never pay into the system, my next door neighbour is African never had a job he mowes lawns cash in hand people like him are taking away ftom society. With a growing population the percentage of tax will never change

Too high ra. Get rid of 80% of the benefit system and restore family/community and religious values.

It's not the level of tax that is the problem, it's that the super rich do not pay their share and the self employed right (sic) off so much expenditure against income. They manage to do that by using loopholes in the 17,000 pages of the uk tax code. The whole system is bent and designed to confuse. If we had a simplified taxation system then avoidance would be harder and we could sack all the leaches we call accountants. It's PWC and others who are partly responsible for the mess.

We should supertax the mega rich by taxing their excesses like cars, yachts and multiple houses rather than leaving them alone and taxing the poor through, say, taxation levied against insurance policies and domestic fuel.

Which religious values? Stoning people to death? Telling people that God loves them, but that they'll go to hell if they don't comply?

Yeah if need be if they cant live civilly.

If families and communities are sound, there is simply no need to have a massive benefit system. All the usual vices that are prevalent throughout benefit Britain will be nipped in the bud under a more traditional society. Education, work, marital life, family the whole lot will be improved. All benefits have done is create cuckoldry, sloppiness and immorality. Neapolitians even prefer the camorra/mafia controlling affairs rather than the Italian government. All the most successful ethnic groups in this country have a traditional component, Chinese, Indians, Jews they all have similar characteristics.

The tax system is massively over complicated, and I agree should be simplified, to both help reduce avoidance and make it clear how much people pay.

What is it fair to ask the mega-rich to pay? What about the ones that live more frugally, e.g. Warren Buffet.

It often sounds like many people think that the mega-rich are an inexhaustible source of tax revenue, and should pay for everyone else. If you tax them more than they want to pay, they will move. The mega-rich can live where they want and there are plenty of tax havens ready to welcome them, with somewhat better weather than the UK.

Any tax system should obtain revenue from a broad cross-section of the community, otherwise spending decisions would be without consequences for many.

I'm sick of people putting **** like, tax is used for the things you take for grantedIf you actually look into the spending you'd find out that the 4 exit round about in my town, very small cost nearly 100,000 to build, while my neighbour made a tarmac drive not much smaller for just over 1000, even including staff and equipment there is clearly overspending going onAnd banks make the money in the uk, which means they earn the profits for the money, few pence to make a £10 note, now it's worth £10. Where if our goverment took the responsibly the profit would go into the system saving tax payer on average 1,700 a year in gross tax.even NHS prices are determined on drug companies etc and what they Basically the worlds run by money whores

If they are living frugally then what purpose id that money fulfilling other than massaging their ego.

VAT on non-luxury goods too high, income tax about right for basic earners, petrol and cigarettes too low (I am a non-smoker).