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Clegg: Tax the rich more
- Thread starter Richie
- Start date
southstand1882
Mitchell Thomas
Yeah I agree.....everybody should earn the same, and own the same
:-k
Why should a bin man earn less than a surgeon?
Why should a Chief Executive of a FTSE 100 company, who works 20 hours a day, earn more than a teacher
It's a fudging disgrace
I'm definitely voting Liberal Democrats. They are "in touch" with society.
Not like these nasty Tories. Scum
:-k
Why should a bin man earn less than a surgeon?
Why should a Chief Executive of a FTSE 100 company, who works 20 hours a day, earn more than a teacher
It's a fudging disgrace
I'm definitely voting Liberal Democrats. They are "in touch" with society.
Not like these nasty Tories. Scum
southstand1882
Mitchell Thomas
The "rich" are taxed more
I thought that was how income tax worked?
Last time I checked, when I "earn" a £1 at my job, the government takes 50 pence
Do you think this should be increased to 75 pence to pay for the debts racked up by successive governments?
We are £1 trillion in debt now. We all have to pay for it by balancing the books. That means less Labour / Lib Dem policies I'm afraid.
Or we can all stick our heads up our arses and pretend we're not saddling future generations with unaffordable debt.
What are the interest payments on our debt now? £45 billion a year I believe. More than we spend on defence.
Why not ask the rich to pay for it all. Oh yeah, because then they'll all fudge off to another country and we'll have NO MONEY whatsoever coming in. Great plan.
I thought that was how income tax worked?
Last time I checked, when I "earn" a £1 at my job, the government takes 50 pence
Do you think this should be increased to 75 pence to pay for the debts racked up by successive governments?
We are £1 trillion in debt now. We all have to pay for it by balancing the books. That means less Labour / Lib Dem policies I'm afraid.
Or we can all stick our heads up our arses and pretend we're not saddling future generations with unaffordable debt.
What are the interest payments on our debt now? £45 billion a year I believe. More than we spend on defence.
Why not ask the rich to pay for it all. Oh yeah, because then they'll all fudge off to another country and we'll have NO MONEY whatsoever coming in. Great plan.
southstand1882
Mitchell Thomas
WookieD
Didier Zokora
I thought they had been renamed as Excess Domestic By-Product Expediators?
Richie
Naybet
Anyone who thinks the rich don't pay thier 'fair share' need to have a gander at this graphic
Top 1% paying over a quarter of income tax revenue, if that isn't their fair share then what is? 35%? 50%?
Also, corporation tax should be abolished. It's just ludicrous, it's just an additional overhead which is passed on to the consumer in higher prices or employees in lower wages.
Top 1% paying over a quarter of income tax revenue, if that isn't their fair share then what is? 35%? 50%?
Also, corporation tax should be abolished. It's just ludicrous, it's just an additional overhead which is passed on to the consumer in higher prices or employees in lower wages.
southstand1882
Mitchell Thomas
Oh and South, I was agreeing with Seedy Ron
No smiley, no understand........LOL
getting the feckers to pay tax would be a start! the graph above doesn't tell you much, the top 1% may contribute 26% of tax revenues but many of them will be earning many millions more per year than joe bloggs, so even if there was a flat rate of tax they'd contribute considerably more to the exchequer. It would be interesting to find out what percentage of their earnings the “top 1%” contribute, i'd have a cheeky bet it's nowhere near 45% and i wouldn't be surprised if it was less than the 20% that the lowest earners pay, it's the middle earners on PAYE that pick up the bill.
i'm not a fan of clegg but don't think this policy (that will never happen anyway!) is aimed at middle earners and my heart doesn’t really bleed for the rich, I’m pretty sure they’re gonna be ok! I’m also not really bought into the panic the rich like to spread with their threats to leave and go abroad etc. this country has much more to offer than low corporation tax!
as for corporations not paying income tax, i strongly disagree, they benefit from the infrastructure of this country, an educated flexible workforce and the universal healthcare for a healthy workforce, therefore they should contribute tax revenues through corporation tax on the profits they make in this country! we obviously need to create an environment where corporations want to invest but we're not slaves to corporations, they need to pay their way like everyone else.
i'm not a fan of clegg but don't think this policy (that will never happen anyway!) is aimed at middle earners and my heart doesn’t really bleed for the rich, I’m pretty sure they’re gonna be ok! I’m also not really bought into the panic the rich like to spread with their threats to leave and go abroad etc. this country has much more to offer than low corporation tax!
as for corporations not paying income tax, i strongly disagree, they benefit from the infrastructure of this country, an educated flexible workforce and the universal healthcare for a healthy workforce, therefore they should contribute tax revenues through corporation tax on the profits they make in this country! we obviously need to create an environment where corporations want to invest but we're not slaves to corporations, they need to pay their way like everyone else.
Richie
Naybet
Corporations cannot pay tax, the same way a house cannot pay tax. Only people can pay tax, a corporation is just a name on a piece of paper. I'm all for taxes on capital gains and dividends on earnings for business owners, but corporation tax is just a hidden tax being passed on to the consumer or the employees.
Jurgen the German
Tommy Harmer
Start by closing ALL the loopholes when it comes to dodging tax that the rich always seem to exploit.
Jurgen the German
Tommy Harmer
Exactly. If the rich people want to leave the country purely because they get taxed a lot despite all the great things about living in England (ahem Lewis Hamilton), then they can fudge off.
Richie
Naybet
So what happens when they all leave, who fits the bill for public services then?
Take Hollandes proposed 70% tax on the rich, he is going to cripple Frances economy if it goes through
papaspur
Kasey Keller
I know the corporate tax rate is relatively high in the US (hence many corporations keeping profits offshore), but if our Supreme Court ruled that corporations have the same rights as citizens, namely freedom of speech (which translates to unlimited political spending), then they can also pay taxes. But I will put this bogus notion aside.
As NW5 pointed out, corporations can benefit from the government. Many of them receive subsidies. If there's a strike or protest, the police will be involved. And you're suggesting that any savings on their part will be transferred to higher wages for their employees? I'm sure their shareholders would appreciate that.
A final word on the modern rich...
The wealthy have gotten wealthier in the past 20-30 years. The top .1 percent's share of the pie has gotten bigger while the middle class' income has stayed roughly the same, before inflation. Despite this, taxes on the wealthy have gone down?
papaspur
Kasey Keller
The US used to have pretty high taxes, even during the Reagan years. I'm not an economic expert and don't know much about what current tax rates are in France. I do know that Romney stated he's paid at least 15% on his taxes in the past decade. For someone that's made so much money, that seems a little low to me (considering that I pay a higher percentage than he does). But the reason for this was mentioned by you earlier: capital gains/dividends/investments being taxed so low, in addition to all the loopholes that make moving the money around to be taxed at lower rates elsewhere.
The rich have gotten too used to tax cuts and now see these low tax rates as the norm, and of course it is difficult for them to give up and pay the rates they used to pay.
The Moonlit Knight
Banned
I've always thought the % system of paying tax is my favourite buttplug. It's simply not fair on higher earners IMO especially when they up the %. But then a taxation system isn't going to be fair on someone at some point.