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Post by Totheleft on Jan 20, 2024 0:35:39 GMT
Our unequal tax system
The tax system needs to change so that it is fairer and raises more money. The tax system we have is stacked in favour of people on higher incomes and with greater wealth. For example, most people pay 13.25% National Insurance on any income above £120 per week. But someone who earns more than £50,000 a year pays a much lower rate of national insurance – just3.252% – on that income above £50,000.
Another example is Council Tax where the person living in a house valued at £1m or £2m pays exactly the same amount of Council Tax as the person living in a house valued at £325,000. Take the case of VAT – the lower your income, the higher the proportion of your income you give to Her Majesty’s Revenue and Customs in VAT.
In addition to this, there is very little taxation of wealth (as opposed to income) in this country.
Finally, there are some extremely rich individuals who use tax loopholes and offshoring to pay little or no tax at all.
issue of corporate tax avoidance.
Virgin Care (then owned by Richard Branson) has also been criticised for paying no or little corporation tax despite billions of pounds worth of Local Authority and NHS contracts.
Estimates of the tax gap – the difference between taxes actually paid and taxes which should in theory be paid – vary from £35bn annually to around £120bn depending on what is included.
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Post by Baron von Lotsov on Jan 20, 2024 2:27:18 GMT
You only mention one side of the coin. People who are earning a lot pay a higher tax rate. With those on lower incomes the tax allowance means their total rate is much lower. Also look at it from the point of view of what rich people use that the tax pays for. They often don't use the benefits system, nor the education or health systems.
People on high incomes often work for longer hours. Have you seen the insane amount of work you need to do to get a PhD these days? 80 hour weeks are the norm, and sometimes a lot more. They may burn out in ten years, so it is not as rosy as some imagine. The pay and the tax regime kind of balance out. People look at the various offers and weigh things up as a whole, so if it is too much bother doing a high paid job the pay goes up a little and if it is a case of too many at the door the pay goes down.It reaches an equilibrium and indeed so do house prices. People factor stuff in like having to get up each day before it gets light because your high paying job is a 50m commute. High paying jobs can also have the knack of clawing it back off you where you have to pay for expensive courses and other crap. If there were ever a free lunch, everyone would grab it.
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Post by dodgydave on Jan 20, 2024 2:36:36 GMT
I've worked for HMRC and have seen the reality of our tax situation. I'm afraid in many areas you are falling for left-wing propaganda. The left blame the rich for our problems, the right blame immigrants / benefits scroungers... they are both wrong of course. If you think I am wrong about left-wing propaganda, then please provide an example of a left-wing politician calling for a clamp down on cash in hand lol.
Most of our tax evasion actually occurs amongst the "working class", because of the shear number of people it involves:
1) Tradespeople working cash in hand work.
2) Small business owners not putting income through the books.
3) Small business owners stealing their employers PAYE.
Obviously hiding income in offshore accounts is morally wrong and should be clamped down on. However, the whole wealth isn't taxed narrative is just bollocks. "Wealth" is a paper figure, that is taxed when all / part of it is realised. A US politician famously went after Elon Musk because he didn't pay tax in one particularly year... till Musk pointed out that he paid the most tax of anybody in history ($11 billion!) the following year because that was when he realised some of his wealth.
One area they should make fairer is to tax income, tax dividends, capital gains and inheritance at the same rate.
I keep having to point out the same thing, the left-wing in the UK is full of shit and sell fairytale economics. Nobody in the UK pays high taxes, we literally have one of the lowest tax burdens in the West. For Nordic levels of public services, EVERYBODY has to pay Nordic levels of taxation.
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Post by Pacifico on Jan 20, 2024 7:50:16 GMT
You have to have an income of around £50k a year to be a net contributor after all welfare payments and services are taken into account. The current median income is around £30k a year - so it's currently incredibly fair and progressive.
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Post by Pacifico on Jan 20, 2024 7:51:28 GMT
One area they should make fairer is to tax income, tax dividends, capital gains and inheritance at the same rate. Dividends have already been taxed - that is why they have a lower rate. |
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Post by Deleted on Jan 20, 2024 10:08:17 GMT
Yex?  |
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Post by andrewbrown on Jan 20, 2024 11:19:56 GMT
Yex? Commenting on people's medical conditions is not clever. Liking a comment on people's medical conditions when you have one yourself is not clever. Blackiswhite I expected better of you. Jonksy, I probably didn't expect better of you. |
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Post by ratcliff on Jan 20, 2024 13:18:49 GMT
Yex? Commenting on people's medical conditions is not clever. Liking a comment on people's medical conditions when you have one yourself is not clever. Blackiswhite I expected better of you. Jonksy, I probably didn't expect better of you. Is this in code? |
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Post by andrewbrown on Jan 20, 2024 14:22:27 GMT
Commenting on people's medical conditions is not clever. Liking a comment on people's medical conditions when you have one yourself is not clever. Blackiswhite I expected better of you. Jonksy, I probably didn't expect better of you. Is this in code? No. |
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Post by jonksy on Jan 20, 2024 14:28:00 GMT
Yex? Commenting on people's medical conditions is not clever. Liking a comment on people's medical conditions when you have one yourself is not clever. Blackiswhite I expected better of you. Jonksy, I probably didn't expect better of you. This love affair you have with me is getting embarrassing Andy But not for me.. |
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Post by ratcliff on Jan 20, 2024 14:30:56 GMT
fair enough , I wondered if the coded post you replied to was the trigger No probs - I'l file yex as as a word I'd never previously heard (which the dictionary defines as hiccups) |
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Post by andrewbrown on Jan 20, 2024 14:41:35 GMT
fair enough , I wondered if the coded post you replied to was the trigger No probs - I'l file yex as as a word I'd never previously heard (which the dictionary defines as hiccups) It was BIW taking the mickey out of TTLs spelling difficulties. Jonksy, who also has spelling difficulties liked the post. I didn't really think I had to explain that. The only thing that is says to me is that it's acceptable to attack people on the board on that basis. I think it's quite appalling, but really shows the depths that people will fall to. |
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Post by jonksy on Jan 20, 2024 14:45:01 GMT
fair enough , I wondered if the coded post you replied to was the trigger No probs - I'l file yex as as a word I'd never previously heard (which the dictionary defines as hiccups) It was BIW taking the mickey out of TTLs spelling difficulties. Jonksy, who also has spelling difficulties liked the post. I didn't really think I had to explain that. The only thing that is says to me is that it's acceptable to attack people on the board on that basis. I think it's quite appalling, but really shows the depths that people will fall to.And they fall no lower than a scorned remainer who is still in pain Most people recover after a couple of years but do not still harp on about it for 7 odd years. |
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Post by Bentley on Jan 20, 2024 14:53:14 GMT
My virtue signalling meter just went into overload .
Anyway. Tax payers on PAYE pay more tax when they earn more money.
Council tax rises by band . Million pound houses in the same council area pay more council tax than £325 ones afaik .
Extremely rich people who evade tax are rotten eggs. Extremely rich people who avoid tax have good accountants .
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Post by The Squeezed Middle on Jan 20, 2024 15:58:29 GMT
fair enough , I wondered if the coded post you replied to was the trigger No probs - I'l file yex as as a word I'd never previously heard (which the dictionary defines as hiccups) It was BIW taking the mickey out of TTLs spelling difficulties. Jonksy, who also has spelling difficulties liked the post. I didn't really think I had to explain that. The only thing that is says to me is that it's acceptable to attack people on the board on that basis. I think it's quite appalling, but really shows the depths that people will fall to. Oh do spare us the sanctimony, Andy. TTL recently started an entire troll thread impugning the intelligence of others and rightly got the piss ripped out of him. To assume victimhood now is gross hypocrisy and a classic case of people in glass houses throwing stones. But then again double standards do appear to be the stock-in-trade of the left. |
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