8000 millionaires to get 100000 tax cuts

[ricgem2002 11]

If I got a tax reduction I'd use it to pay down some debt..how's that going to boost the economy?

it wouldnt it would bring down your debt, if its easy for you to understand it why cant the gov:huh: but your only thinking about yourself here a bit like the gov:hihi:. anyone in this country who thinks its ok for a millionaire to pay less tax than a cleaner/nurse needs seriously looking at .

[truman 10]

it wouldnt it would bring down your debt, if its easy for you to understand it why cant the gov:huh: but your only thinking about yourself here a bit like the gov:hihi:. anyone in this country who thinks its ok for a millionaire to pay less tax than a cleaner/nurse needs seriously looking at .

 

Who thinks that?

[alteredgemed 10]

How does this realate to the tax rates?

 

The reason we are taxed heavily by the government is because of the fraudulent debt we are told we owe, so who do we owe it too?

 

---------- Post added 05-12-2012 at 17:58 ----------

 

Who thinks that?

You do..........

[andygardener 10]

The reason we are taxed heavily by the government is because of the fraudulent debt we are told we owe, so who do we owe it too?

 

Whoever buys government bonds. Other governments, financial institutions, pension funds, even ordinary Joe public.

[I1L2T3 10]

The increase to 50% decreased it...I'm not arguing one way or the other..just saying what happened when the 50p rate was introduced..the tax take from those people dropped..

 

"In the 2009-10 tax year, more than 16,000 people declared an annual income of more than £1 million to HM Revenue and Customs.

 

This number fell to just 6,000 after Gordon Brown introduced the new 50p top rate of income tax shortly before the last general election"

 

 

http://www.telegraph.co.uk/news/politics/9707029/Two-thirds-of-millionaires-left-Britain-to-avoid-50p-tax-rate.html

 

Where are the official stats that prove that the tax take reduced when the 50p rate was introduced? That article doesn't link to any, it's just based on an assertion from a Tory MP.

 

Also, the article quite possibly has the most misleading title I've ever seen. There is no evidence in the article that the millionaires left the country but it does say this:

 

'It is believed that rich Britons moved abroad or took steps to avoid paying the new levy by reducing their taxable incomes'.

 

Again, no evidence that they left. Only that they may have changed their tax planning. Not quite the same thing are they

 

Quite possibly one of the worst and most misleading articles I've read for a long time.

[S10mainly 10]

Why does it bother people so much what the "rich" pay in taxes?

[Mr Bloom 10]

Because the tax take from the extra 50p tax rate was costing more to administer than how much it was taking.

 

 

Not true.

 

Finally benefits have not been cut, just that they will rise 1% (so a cut in real terms maybe), however with many people having to take a pay cut to stay in work it seems fair enough.

 

No, it doesn't seem fair enough to me, that those struggling to put food on the table and stay warm are hit hardest whilst those with the most get tax cuts, not at all. And it doesn't seem fair that those who are working hard and taking pay cuts should be having their hard earned taken off them to give to the richest people in the country. Actually it is immoral and it stinks.

 

 

 

 

How about all the public sector stop moaning when the jobs are cut. The govt. already overspends hence having to borrow. They can't afford to cut taxes.

 

 

Make your mind up.

Edited December 5, 2012 by Mr Bloom

[MikeOnline 10]

Taking off the poor to pay the rich......Nawt new here...

[S10mainly 10]

Taking off the poor to pay the rich......Nawt new here...

 

define "the poor" and "the rich"....

[I1L2T3 10]

define "the poor" and "the rich"....

 

The genuinely rich have a a generous income. The poor do not.

 

Forget about abstract notions of richness or wealth such as the sale value of a home or some other asset. They don't count for much unless you cash them in and by cashing them in I don't mean borrowing against them to increase your debt burden.

 

As we are talking about taxes some definition based around income is probably most appropriate if you want to make comparisons with a generally asset poor group of people, i.e. those with low incomes.

[S10mainly 10]

But Im genuinely not sure what is meant by Low or High incomes?

 

The other thing I don't understand is the attitude that the Rich (who ever they are) should pay.....I used to live in one of the most "income divided" areas in Engalnd, and we used to be more laughing at the Rich rather than hating them.....I genuinely don't get this hate the Rich thing that goes off round Sheffield

[I1L2T3 10]

But Im genuinely not sure what is meant by Low or High incomes?

 

It's a difficult subject for sure. Maybe you could look at tax bands as a starting point.