UK top earner tax to be cut

40% from 50%

For discussion of politics, and what's going on in the world today.

Moderators: Blip, The_Metatron, Matt8819, Ironclad

UK top earner tax to be cut

#1  Postby Paul G » Mar 16, 2012 9:33 am

http://www.guardian.co.uk/politics/2012 ... p-tax-rate

George Osborne poised to slash top tax rate from 50p to 40p
Chancellor's dramatic move to cut top rate of income tax in next week's budget will delight the Conservative right
User avatar
Paul G
THREAD STARTER
 
Name: Beef Joint
Posts: 9836
Age: 31
Male

England (eng)
Print view this post

Ads by Google


Re: UK top earner tax to be cut

#2  Postby Wiðercora » Mar 16, 2012 9:37 am

Now, I'm no expert, but. Aren't the Tories making all these cuts to public services to try and 'cut the deficit' and 'balance the budget', ie stop spending more than we rake in? So, surely you would not cut the tax rate because then you would take less in. Or something.
If the unemployed learned to be better managers they would be visibly better off, and I fancy it would not be long before the dole was docked correspondingly.
-- George Orwell


Infrequently updated photo blog.
User avatar
Wiðercora
 
Name: Call me 'Betty'.
Posts: 7079
Age: 24
Male

Country: The Grim North.
United Kingdom (uk)
Print view this post

Re: UK top earner tax to be cut

#3  Postby Paul G » Mar 16, 2012 9:46 am

Yes that's pretty much the case.
User avatar
Paul G
THREAD STARTER
 
Name: Beef Joint
Posts: 9836
Age: 31
Male

England (eng)
Print view this post

Re: UK top earner tax to be cut

#4  Postby mattthomas » Mar 16, 2012 9:49 am

Wiðercora wrote:Now, I'm no expert, but. Aren't the Tories making all these cuts to public services to try and 'cut the deficit' and 'balance the budget', ie stop spending more than we rake in? So, surely you would not cut the tax rate because then you would take less in. Or something.

Did you notice the bit about the lib dems supporting it in return for an increase in taxable allowance for everyone else?

I would love to know where and how the shortfall will be made up.
NO LONGER ACTIVE ON THIS FORUM
mattthomas
 
Posts: 4688
Age: 33

Print view this post

Re: UK top earner tax to be cut

#5  Postby Paul G » Mar 16, 2012 9:54 am

mattwilson wrote:
Wiðercora wrote:Now, I'm no expert, but. Aren't the Tories making all these cuts to public services to try and 'cut the deficit' and 'balance the budget', ie stop spending more than we rake in? So, surely you would not cut the tax rate because then you would take less in. Or something.

Did you notice the bit about the lib dems supporting it in return for an increase in taxable allowance for everyone else?

I would love to know where and how the shortfall will be made up.


For everyone else!?
User avatar
Paul G
THREAD STARTER
 
Name: Beef Joint
Posts: 9836
Age: 31
Male

England (eng)
Print view this post

Re: UK top earner tax to be cut

#6  Postby ED209 » Mar 16, 2012 9:57 am

There is no shortfall, because apparently the 50% rate raises no tax revenue at all (while simultaneously crippling entrepreneurship, preventing youth employment, and chasing our best talent overseas).
It's been taught that your worst enemy cannot harm you as much as your own wicked thoughts.
User avatar
ED209
 
Posts: 5789

Print view this post

Re: UK top earner tax to be cut

#7  Postby mattthomas » Mar 16, 2012 10:02 am

Paul G wrote:For everyone else!?


Okay, I paraphrased and did a shit job of it :lol:
In return for supporting the measure the Lib Dems are pressing for a large increase in the personal allowance for those in work, a commitment to a wealth tax based on property, and a series of measures that end tax reliefs for the rich.


First bold - Increase in personal allowance for tens of millions of people, losing a fuck of a lot of money.
Second bold - How can they end tax relief for the rich when at the same time reducing their tax, it's fucking ridondculous!

I'm wouldn't trust this government to handle the cash box at a school tuck shop :crazy:
NO LONGER ACTIVE ON THIS FORUM
mattthomas
 
Posts: 4688
Age: 33

Print view this post

Ads by Google


Re: UK top earner tax to be cut

#8  Postby ED209 » Mar 16, 2012 10:07 am

It's been taught that your worst enemy cannot harm you as much as your own wicked thoughts.
User avatar
ED209
 
Posts: 5789

Print view this post

Re: UK top earner tax to be cut

#9  Postby mattthomas » Mar 16, 2012 10:14 am


Well we know they can't do their fucking sums already... did you read my example about the child benefit fuckups?

http://www.rationalskepticism.org/news- ... l#p1169330
NO LONGER ACTIVE ON THIS FORUM
mattthomas
 
Posts: 4688
Age: 33

Print view this post

Re: UK top earner tax to be cut

#10  Postby ED209 » Mar 16, 2012 10:54 am

no...i didn't see that thread at all... ;)
It's been taught that your worst enemy cannot harm you as much as your own wicked thoughts.
User avatar
ED209
 
Posts: 5789

Print view this post

Re: UK top earner tax to be cut

#11  Postby mattthomas » Mar 16, 2012 11:11 am

ED209 wrote:no...i didn't see that thread at all... ;)

Okay so my post was actually to you in that thread, but I meant, do you remember it :ask:
NO LONGER ACTIVE ON THIS FORUM
mattthomas
 
Posts: 4688
Age: 33

Print view this post

Re: UK top earner tax to be cut

#12  Postby pensioner » Mar 16, 2012 11:46 am

I wish you guys would stop moaning about the rich getting another tax brake, you know it makes sense. Anyone can become a billionaire, after all a teacher who earns £40,000 a year only has to work for 25,000 years to earn a billion.
There’s class warfare, all right,” said US billionaire Warren Buffett a few years ago, “but it’s my class, the rich class, that’s making war, and we’re winning.
User avatar
pensioner
 
Posts: 2877
Age: 76

Country: Uk
United Kingdom (uk)
Print view this post

Re: UK top earner tax to be cut

#13  Postby Nicko » Mar 16, 2012 12:06 pm

Trickle-down economics strikes again.

How long is it going to be before the public realise that wealth doesn't trickle down; it trickles up? That is, after all, why the wealthy are wealthy in the first place.
"... I have been asked, 'Pray, Mr. Babbage, if you put into the machine wrong figures, will the right answers come out?' I am not able to rightly apprehend the kind of confusion of ideas that could provoke such a question."

-- Charles Babbage
User avatar
Nicko
 
Name: Nick Williams
Posts: 6194
Age: 38
Male

Country: Australia
Australia (au)
Print view this post

Re: UK top earner tax to be cut

#14  Postby pensioner » Mar 16, 2012 12:22 pm

Nicko wrote:Trickle-down economics strikes again.

How long is it going to be before the public realise that wealth doesn't trickle down; it trickles up? That is, after all, why the wealthy are wealthy in the first place.


The trickle down scam, pay the rich more to work harder, pay the poor less to get the same result. Good init.

http://www.nytimes.com/2012/01/20/busin ... wanted=all

"Whatever happened to “unearned income”?

That used to be the normal term for income from investments — dividends, interest and capital gains.
For some, that term produced images of “coupon clippers,” another term you don’t hear much anymore. The coupons in question were not the kind that get you 25 cents off on Jell-O at the grocery store. They were the ones that came attached to bonds in a precomputer age. To get your interest payment every six months, you literally had to clip off the coupon and take it to your bank.

More than half a century ago, when President Dwight D. Eisenhower proposed taxing dividends at lower rates than wages, Representative John W. McCormack, a Massachusetts Democrat who later was to become speaker of the House, was outraged.
“The Republican tax bill is indefensible in that portion which gives great benefits to corporations and constitutes a bonanza to stockholders, the larger ones in particular,” he said in 1954. “It is unjust and in my opinion morally wrong to make a person with earned income pay considerably more in taxes than persons with unearned income from dividends.”
There’s class warfare, all right,” said US billionaire Warren Buffett a few years ago, “but it’s my class, the rich class, that’s making war, and we’re winning.
User avatar
pensioner
 
Posts: 2877
Age: 76

Country: Uk
United Kingdom (uk)
Print view this post

Re: UK top earner tax to be cut

#15  Postby Strontium Dog » Mar 16, 2012 12:23 pm

Nicko wrote:Trickle-down economics strikes again.


The only thing that seems to be trickling down on this forum is stupidity.

Whether or not the temporary 50p tax rate goes next week or not, the wealthy are going to come out of this budget paying more and the poorer paying less. This is an indisputable fact. Anyone stating otherwise is not dealing in facts and has a political axe to grind.
If a liberal party does something, then that act, by definition, is a liberal one. The only alternative is that they are not a liberal party.

Someone earning £1m pa will pay £381k more tax on their income under the coalition than under Labour
User avatar
Strontium Dog
 
Posts: 11718
Age: 35
Male

Country: UK: Free since May '10
England (eng)
Print view this post

Ads by Google


Re: UK top earner tax to be cut

#16  Postby mattthomas » Mar 16, 2012 12:31 pm

Strontium Dog wrote:
Nicko wrote:Trickle-down economics strikes again.


The only thing that seems to be trickling down on this forum is stupidity.

Whether or not the temporary 50p tax rate goes next week or not, the wealthy are going to come out of this budget paying more and the poorer paying less. This is an indisputable fact. Anyone stating otherwise is not dealing in facts and has a political axe to grind.

Since you know what's in the little red briefcase and we don't, fancy sharing a bit of your knowledge?
NO LONGER ACTIVE ON THIS FORUM
mattthomas
 
Posts: 4688
Age: 33

Print view this post

Re: UK top earner tax to be cut

#17  Postby Strontium Dog » Mar 16, 2012 12:34 pm

I don't know exactly what's in the briefcase, just the input that is going into it.
If a liberal party does something, then that act, by definition, is a liberal one. The only alternative is that they are not a liberal party.

Someone earning £1m pa will pay £381k more tax on their income under the coalition than under Labour
User avatar
Strontium Dog
 
Posts: 11718
Age: 35
Male

Country: UK: Free since May '10
England (eng)
Print view this post

Re: UK top earner tax to be cut

#18  Postby ED209 » Mar 16, 2012 12:36 pm

Blind faith and bluster?
It's been taught that your worst enemy cannot harm you as much as your own wicked thoughts.
User avatar
ED209
 
Posts: 5789

Print view this post

Re: UK top earner tax to be cut

#19  Postby Dudely » Mar 16, 2012 1:03 pm

Strontium Dog wrote:
Nicko wrote:Trickle-down economics strikes again.


The only thing that seems to be trickling down on this forum is stupidity.

Whether or not the temporary 50p tax rate goes next week or not, the wealthy are going to come out of this budget paying more and the poorer paying less. This is an indisputable fact. Anyone stating otherwise is not dealing in facts and has a political axe to grind.


For the sake of my fellow men across the pond I hope you're right.
This is what hydrogen atoms do given 15 billion years of evolution- Carl Sagan

Ignorance is slavery- Miles Davis
User avatar
Dudely
 
Posts: 1450

Canada (ca)
Print view this post

Re: UK top earner tax to be cut

#20  Postby mattthomas » Mar 16, 2012 1:07 pm

"does George Osborne really want to be the Marie Antoinette of British politics?"
http://blogs.telegraph.co.uk/news/danho ... -politics/

He already fucking is... When we cry unleaded is too expensive... "Let them use super unleaded"
Last edited by mattthomas on Mar 16, 2012 1:07 pm, edited 1 time in total.
NO LONGER ACTIVE ON THIS FORUM
mattthomas
 
Posts: 4688
Age: 33

Print view this post

Next

Return to News, Politics & Current Affairs

Who is online

Users viewing this topic: No registered users and 1 guest