Hey there! Sign in to join this conversationNew here? Join for free

Should the highest rate of income tax be raised to 50% Watch

    Offline

    3
    ReputationRep:
    (Original post by RedManc)
    It was still a better decade then the 80's
    So how come your not standing by your point??
    Is it because all the figures stack up against your statement?
    Offline

    3
    ReputationRep:
    (Original post by RedManc)
    The income tax rate for top earners are too low in my opinion. At one point during the 1970's, the top rate of income tax was 97%.
    Also , I think you go need to learn some economics my friends. Take a look at the laffer curve.

    • Thread Starter
    Offline

    3
    ReputationRep:
    (Original post by fleky6910)
    So how come your not standing by your point??
    Is it because all the figures stack up against your statement?
    I still believe in what i said earlier. I'm not bothered in developing the point further
    Offline

    3
    ReputationRep:
    (Original post by RedManc)
    I still believe in what i said earlier. I'm not bothered in developing the point further
    Waffle , the figures clearly show your wrong.

    (Original post by RedManc)
    . I'm not bothered in developing the point further
    Because you can't, you know Im right and denying the facts , lol!
    (Original post by RedManc)
    . I'm not bothered
    Also another reason we shouldn't raise the top rate of tax for hard working people and give it to people like you
    • Offline

      20
      Only if the Government can actually put it to good use
      Offline

      16
      ReputationRep:
      (Original post by Jammy Duel)
      It's too high in my opinion, it used to be 10%.

      Also it wasn't 97% in the 70s, it was 83% with a 15% surcharge on "investment income" and funnily enough the country experienced a brain drain and the tax didn't raise much money. I'll also present to you this chart (link in "this"

      I'm sure you can spot a trend in there.
      Not really, as the variables and intervals are too irregular to be meaningful (an entire 40 percentiles removed for the last two time periods, for instance).

      Beyond that, we should first note that the initially included 1976-77 figures have been omitted, because they mess up the implied trend a bit, being virtually identical to the figures for 1981-82.

      Secondly, it ignores income changes. Income disparities between the upper percentiles and everyone else have increased significantly since the 1970s, so it's hardly surprising that their proportion of tax revenue increased.

      Thirdly, prior to the introduction of the 83+15% rate in 1974, the top rate had been 90% more or less since WW2 (including a 75+15% rate from 1971-74). So we would have to conclude that the economic malaises of the 1970s were either i) not significantly caused by the change in tax rates at all, or ii) only significantly caused by the rise from 90% to 98%.
      Offline

      16
      ReputationRep:
      (Original post by fleky6910)
      Also , I think you go need to learn some economics my friends. Take a look at the laffer curve.
      Oh, the irony.

      Also, the graph doesn't really tell us anything - it neglects to mention that the 50% rate was only introduced in 2010.
      Offline

      20
      ReputationRep:
      (Original post by littlenorthernlass)
      Only if the Government can actually put it to good use
      Could use it to pay teachers.
      • Offline

        20
        (Original post by ChaoticButterfly)
        Could use it to pay teachers.
        :borat:
        Offline

        19
        ReputationRep:
        (Original post by ChaoticButterfly)
        Could use it to pay teachers.
        She said a good use.


        :troll:
        Offline

        20
        ReputationRep:
        (Original post by Friar Chris)
        She said a good use.


        :troll:

        I'm sure the money could be used to make doctors lives harder.
        Offline

        1
        ReputationRep:
        (Original post by RedManc)
        She is a hero for middle class greedy pigs. She done the working class no favours. She created the welfare culture
        Thatcher created welfare culture?

        To believe that one has to assume that the working class are so dense, that they are unable to work it out that living on benefits is a **** life...........

        Newsflash, people who choose to live off benefits are not the working class,

        They are the idle class and the actual working class despise them.
        • Thread Starter
        Offline

        3
        ReputationRep:
        (Original post by joe cooley)
        Thatcher created welfare culture?

        To believe that one has to assume that the working class are so dense, that they are unable to work it out that living on benefits is a **** life...........

        Newsflash, people who choose to live off benefits are not the working class,

        They are the idle class and the actual working class despise them.
        You're right, I think you misunderstood me, what I meant is Thatcher made 3 million unemployed, and created a benefit culture in some areas of the country.
        Offline

        3
        ReputationRep:
        (Original post by RedManc)
        You're right, I think you misunderstood me, what I meant is Thatcher made 3 million unemployed, and created a benefit culture in some areas of the country.
        Are you still trying to educate people even when i showed you labour did a worse job in the 70's , taught u didn't have the time to debate.
        Offline

        3
        ReputationRep:
        (Original post by joe cooley)
        Thatcher created welfare culture?

        To believe that one has to assume that the working class are so dense, that they are unable to work it out that living on benefits is a **** life...........

        Newsflash, people who choose to live off benefits are not the working class,

        They are the idle class and the actual working class despise them.
        I showed him the facts , he doesn't like the facts!
        Offline

        1
        ReputationRep:
        (Original post by RedManc)
        You're right, I think you misunderstood me, what I meant is Thatcher made 3 million unemployed, and created a benefit culture in some areas of the country.
        Nonsense i'm afraid.

        Any person who decides* that living off benefits is an option is, by definition not working class.

        They are parasites.

        * Please note that word.
        • Thread Starter
        Offline

        3
        ReputationRep:
        (Original post by joe cooley)
        Nonsense i'm afraid.

        Any person who decides* that living off benefits is an option is, by definition not working class.

        They are parasites.

        * Please note that word.
        that's true, but for some there are no jobs to go to
        Offline

        1
        ReputationRep:
        (Original post by RedManc)
        that's true, but for some there are no jobs to go to
        Indeed it is, and that is why i highlighted my use of the word decides.

        There have been periods in my life when work was hard to come by,mercifully few and far between so i know how hard it can be.

        However, the thought of living off benefits never entered my head.

        To suggest that Thatcher somehow turned decent hard working people into parasites happy to live off benefits is ridiculous.
        • Thread Starter
        Offline

        3
        ReputationRep:
        (Original post by joe cooley)
        Indeed it is, and that is why i highlighted my use of the word decides.

        There have been periods in my life when work was hard to come by,mercifully few and far between so i know how hard it can be.

        However, the thought of living off benefits never entered my head.

        To suggest that Thatcher somehow turned decent hard working people into parasites happy to live off benefits is ridiculous.
        I know it might sound absurd, but the extent to which Thatcher ruined manufacturing and industry is quite severe.

        https://www.youtube.com/watch?v=rCOqOLZhemc
        Offline

        3
        ReputationRep:
        (Original post by RedManc)
        I know it might sound absurd, but the extent to which Thatcher ruined manufacturing and industry is quite severe.

        https://www.youtube.com/watch?v=rCOqOLZhemc
        Unemployment was caused by labour , I showed you this!
        Labour caused double digit inflation and unemployment. Thatcher fixed this mess by raising interest rates causing high unemployment. National debt fell , unemployment fell, gdp per rose, gdp per capita rose
       
       
       
    • See more of what you like on The Student Room

      You can personalise what you see on TSR. Tell us a little about yourself to get started.

    • Poll
      Will you be richer or poorer than your parents?
      Useful resources

      Groups associated with this forum:

      View associated groups
    • See more of what you like on The Student Room

      You can personalise what you see on TSR. Tell us a little about yourself to get started.

    • 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

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