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Post by RipRoaringPotter on Feb 21, 2019 16:34:22 GMT
So the wealthiest and biggest companies in the world aren't going to leave the UK because of potential disruption and additional costs over Brexit, but they're definitely going to leave over having to pay additional costs in tax brought in by a Labour government. Like Dianne Abbott's maths homework, something doesn't add up here. Perhaps both scenarios have been wildly exaggerated? Yeah, I'd agree with that.
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Post by AlliG on Feb 21, 2019 18:55:12 GMT
44% of the UK's wealth is owned by the richest 10%, which is 5 times the wealth owned by the poorest 50%. I wouldn't mind if we had competitive upper tax rates, but we charge the top earners nowt, because the tories want us to be a mini tax haven. Stick the tax rate up to 70% over £5 million, similar to the Ocasio-Cortez plans in the US, and cut down loopholes as every party promises they'll do, and there would be a hell of a lot of money available. %8 It's a competitive world out there and the super rich can live anywhere they want in it. The current highest rate of tax is 45% plus 2% NI plus a further 13.8% from the employer. The dividend rate for high earners is 38.1% after suffering a further 19% in corporation tax.
At what point do you think the super rich start
a) Leaving the country b) Stop paying themselves wages and dividends c) stop getting out of bed in the morning because any incentive has been taken away
This doesn't just apply to the rich or the super rich. Anyone on higher rate tax will be blasted by this version of Labour. They've had a hammering from the Conservative party over the last 8 years. Everything from pension relief to family allowance to investment properties have been hammered while the minimum wage and personal allowances have been substantially increased. The burden of the tax credit system has been gradually moved over to employers already suffering a hike in NI, withdrawal of state help for Statutory sick pay and increasing administrative burdens.
The last time this sort of Labour administration got to power the highest rate of tax was 98%. As HR taxpayers left the country the tax take went down. Overspending leads to deficits as seen with the last Labour administration.
You could of course put corporation tax up but this would make the UK uncompetitive.
It's a difficult balancing act but the Marxists would be a disaster.
Back in the late 1980s I recall Mrs T telling us all that she wanted to cut the top rates of tax because "the high earners would be able to keep more of their income and therefore would be content with that and not look to award themselves large increases" At the time I was working for a FTSE100 Company who turned a profit of about £500m. The CEO had a basic salary of circa £100k which was about 10x the median salary. That same Company still aims for around £500m profit but the CEO now has a basic salary of around £4.5m (about 120x the median salary).
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Post by felonious on Feb 21, 2019 19:15:45 GMT
It's a competitive world out there and the super rich can live anywhere they want in it. The current highest rate of tax is 45% plus 2% NI plus a further 13.8% from the employer. The dividend rate for high earners is 38.1% after suffering a further 19% in corporation tax.
At what point do you think the super rich start
a) Leaving the country b) Stop paying themselves wages and dividends c) stop getting out of bed in the morning because any incentive has been taken away
This doesn't just apply to the rich or the super rich. Anyone on higher rate tax will be blasted by this version of Labour. They've had a hammering from the Conservative party over the last 8 years. Everything from pension relief to family allowance to investment properties have been hammered while the minimum wage and personal allowances have been substantially increased. The burden of the tax credit system has been gradually moved over to employers already suffering a hike in NI, withdrawal of state help for Statutory sick pay and increasing administrative burdens.
The last time this sort of Labour administration got to power the highest rate of tax was 98%. As HR taxpayers left the country the tax take went down. Overspending leads to deficits as seen with the last Labour administration.
You could of course put corporation tax up but this would make the UK uncompetitive.
It's a difficult balancing act but the Marxists would be a disaster.
Back in the late 1980s I recall Mrs T telling us all that she wanted to cut the top rates of tax because "the high earners would be able to keep more of their income and therefore would be content with that and not look to award themselves large increases" At the time I was working for a FTSE100 Company who turned a profit of about £500m. The CEO had a basic salary of circa £100k which was about 10x the median salary. That same Company still aims for around £500m profit but the CEO now has a basic salary of around £4.5m (about 120x the median salary). Perhaps the government should limit the amount of pay they get and see how many of them stay in the UK, the same with footballers. I suspect the government or any reasonable government would not be objecting to the tax take on that salary. When Bet 365 paid out that huge dividend the Exchequer also got a fat slice. I'm not defending these high salaries I'm just saying that the government is getting a fair amount out of them and has probably pushed the market as far as it will go. Higher rate tax up, NI up and the withdrawal of pension reliefs for higher earners all under the current administration. It doesn't get reported because it doesn't suit the left wing agenda.
They hit the middle earners as well. Anyone earning over £50K has seen the withdrawal of family allowance. Three kids and you've got an effective marginal rate of tax of over 65%.
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Post by followyoudown on Feb 21, 2019 20:06:52 GMT
There are not enough rich or super rich people to pay for the free unicorns, labour planned to introduce a garden tax. 44% of the UK's wealth is owned by the richest 10%, which is 5 times the wealth owned by the poorest 50%. I wouldn't mind if we had competitive upper tax rates, but we charge the top earners nowt, because the tories want us to be a mini tax haven. Stick the tax rate up to 70% over £5 million, similar to the Ocasio-Cortez plans in the US, and cut down loopholes as every party promises they'll do, and there would be a hell of a lot of money available. You pay tax on income not wealth, top earners are charged nowt really where is your evidence for this ? This guardian article says 19,000 people in the UK earn over £1m per year, your tax suggestion might catch 5000 or 10000 people if you are lucky that is not going to pay for anything significant, truth is if you want free stuff for everyone there is no magical pool of rich people to pay for it, its the 60 odd million people that have to pay more tax. www.theguardian.com/business/2018/sep/10/nearly-19000-uk-earners-now-on-more-than-1m-a-year
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Post by Deleted on Feb 21, 2019 20:26:03 GMT
44% of the UK's wealth is owned by the richest 10%, which is 5 times the wealth owned by the poorest 50%. I wouldn't mind if we had competitive upper tax rates, but we charge the top earners nowt, because the tories want us to be a mini tax haven. Stick the tax rate up to 70% over £5 million, similar to the Ocasio-Cortez plans in the US, and cut down loopholes as every party promises they'll do, and there would be a hell of a lot of money available. You pay tax on income not wealth, top earners are charged nowt really where is your evidence for this ? This guardian article says 19,000 people in the UK earn over £1m per year, your tax suggestion might catch 5000 or 10000 people if you are lucky that is not going to pay for anything significant, truth is if you want free stuff for everyone there is no magical pool of rich people to pay for it, its the 60 odd million people that have to pay more tax. www.theguardian.com/business/2018/sep/10/nearly-19000-uk-earners-now-on-more-than-1m-a-yearWe have a lower highest tax rate than most of the EU from what I remember reading. EDIT - here www.theguardian.com/money/2017/may/27/tax-britons-pay-europe-australia-us Does say it's only a rough mark, so I may well be proven wrong. I agree, people should have to pay more tax, it doesn't just come from the rich. But the fact people can be billionaires in the same country where people can't buy food is a failure of the system.
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Post by essexstokey on Feb 21, 2019 22:48:22 GMT
The sad truth is that not one of the major parties is worth voting for. However one is worth voting against the money grabbing self servicing political party the tories!!
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Post by 3putts on Feb 22, 2019 1:54:10 GMT
There’s only one problem with that If corbyn’s puppet master gets his fingers on the till the revenue raised in taxation will plummet Sadly In these days of globalisation a couple of presses of buttons and you’re headquarters or personal wealth sits somewhere the British chancellor can’t get to McDonnells plans rest on people being decent and willing to pay tax people can move their money with a press of a button so why haven't they done that? becuae the majority of wealthy people are happy to pay their share of taxes to support the nhs etc. its only a few squirmy bastards at the very top who would rather spend millions to employ tax avoidance advisors rather than pay their fair share to society and if these want to move their money then yes fook off slimey cunts
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Post by Northy on Feb 22, 2019 7:23:46 GMT
There are not enough rich or super rich people to pay for the free unicorns, labour planned to introduce a garden tax. 44% of the UK's wealth is owned by the richest 10%, which is 5 times the wealth owned by the poorest 50%. I wouldn't mind if we had competitive upper tax rates, but we charge the top earners nowt, because the tories want us to be a mini tax haven. Stick the tax rate up to 70% over £5 million, similar to the Ocasio-Cortez plans in the US, and cut down loopholes as every party promises they'll do, and there would be a hell of a lot of money available. The top 1% of earners already pay 28% of income tax, the highest amount in any government ever. If you keep sticking it up they would probably move away or look at tax avoidance, its a fine balance and looks like it's right at the moment.
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Post by bathstoke on Feb 22, 2019 10:11:10 GMT
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Post by bathstoke on Feb 22, 2019 11:47:45 GMT
44% of the UK's wealth is owned by the richest 10%, which is 5 times the wealth owned by the poorest 50%. I wouldn't mind if we had competitive upper tax rates, but we charge the top earners nowt, because the tories want us to be a mini tax haven. Stick the tax rate up to 70% over £5 million, similar to the Ocasio-Cortez plans in the US, and cut down loopholes as every party promises they'll do, and there would be a hell of a lot of money available. The top 1% of earners already pay 28% of income tax, the highest amount in any government ever. That’s cause they’re the ones with all the money. Moggy was banging on about this the other week(disingenuous €@#t)saying that in 1979 the top brass payed 6%, but that was when working/middle classes got a real living wage & mums didn’t need to go out to work...
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Post by rogerjonesisgod on Feb 28, 2019 7:46:38 GMT
Every he touches turns to sold
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Post by 3putts on Feb 28, 2019 7:49:34 GMT
Every he touches turns to sold I try to keep off this board but fuk me some of your posts beggar belief. That cunt still thinks the poor should be in workhouses and thinks sending kids up chimneys is a vocation
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Post by rogerjonesisgod on Feb 28, 2019 8:35:49 GMT
Every he touches turns to sold I try to keep off this board but fuk me some of your posts beggar belief. That cunt still thinks the poor should be in workhouses and thinks sending kids up chimneys is a vocation I wish you'd try harder.
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Post by RipRoaringPotter on Feb 28, 2019 9:32:25 GMT
Every he touches turns to sold I try to keep off this board but fuk me some of your posts beggar belief. That cunt still thinks the poor should be in workhouses and thinks sending kids up chimneys is a vocation Yeah but he says it with a posh accent and long words, so it's all a bit of a laugh.
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Post by essexstokey on Feb 28, 2019 19:30:00 GMT
Minister George Eustice quits over Brexit delay vote
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Post by Deleted on Feb 28, 2019 19:42:36 GMT
Yawn.....
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Post by sheikhmomo on Mar 1, 2019 9:08:16 GMT
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Post by bathstoke on Mar 1, 2019 10:13:54 GMT
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Post by yeokel on Mar 1, 2019 11:40:36 GMT
This government is not for ever. Hopefully, Brexit is.
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Post by LL Cool Dave on Mar 1, 2019 11:58:03 GMT
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Post by trickydicky73 on Mar 1, 2019 12:33:05 GMT
I try to keep off this board but fuk me some of your posts beggar belief. That cunt still thinks the poor should be in workhouses and thinks sending kids up chimneys is a vocation Yeah but he says it with a posh accent and long words, so it's all a bit of a laugh. Has he advocated those things? I missed that.
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Post by RipRoaringPotter on Mar 1, 2019 16:10:24 GMT
Yeah but he says it with a posh accent and long words, so it's all a bit of a laugh. Has he advocated those things? I missed that. You're right, he hasn't. Although some of his beliefs are more Victorian than you would imagine, he hasn't got down workhouses........yet My point was, look behind the general cartoonish-like personality and you'll find a lot of very backward beliefs wrapped in a charming charisma. The same, but on a smaller scale, goes for Boris Johnson.
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Post by bathstoke on Mar 1, 2019 17:41:02 GMT
Didn’t he also roll out the privatisation of the probation service when he was minister for justice. Their recidivism rates have gone through the roof... State sponsored capitalism at its finest 💸
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Post by mattyd on Mar 1, 2019 17:48:29 GMT
Surely it's just a matter of time before Corbyn is in No 10, with Diane Abbott right next door at No 45.
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Post by bathstoke on Mar 1, 2019 18:27:24 GMT
Every he touches turns to sold Selling Hagen Das! He’s an MP in Somerset, should be selling Marshfield ice cream. £&!n €@#t
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Post by rogerjonesisgod on Mar 1, 2019 19:07:32 GMT
Before you start Momo, he's not a coconut. That wouldn't be fair or legal.
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Post by 3putts on Mar 3, 2019 22:34:58 GMT
Nice to know this government are getting its priorities right.we now have news that there is now a prison wing solely for transgenders(before anyone asks I am not in favour of transgenders) the country is crumbling before our very eyes yet they find time and money for this nonsense. Can you imagine the outcry from our right wing brethren if Jc was pm.and he sanctioned this?
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Post by lawrieleslie on Mar 4, 2019 8:24:42 GMT
The sad truth is that not one of the major parties is worth voting for. However one is worth voting against the money grabbing self servicing political party the tories!! Tell you what essexboy, at the next GE put a great big X against your Tory candidate to ensure they know you don’t want him/her and you are voting against them.
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Post by Northy on Mar 4, 2019 8:38:15 GMT
Nice to know this government are getting its priorities right.we now have news that there is now a prison wing solely for transgenders(before anyone asks I am not in favour of transgenders) the country is crumbling before our very eyes yet they find time and money for this nonsense. Can you imagine the outcry from our right wing brethren if Jc was pm.and he sanctioned this? Well at least they are sending them to prison instead of a knitting club. You are not in favour of transgenders, but you spend a lot of time in a country with a high rate of ladyboys.....
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Post by rogerjonesisgod on Mar 4, 2019 12:48:02 GMT
Nice to know this government are getting its priorities right.we now have news that there is now a prison wing solely for transgenders(before anyone asks I am not in favour of transgenders) the country is crumbling before our very eyes yet they find time and money for this nonsense. Can you imagine the outcry from our right wing brethren if Jc was pm.and he sanctioned this? Well at least they are sending them to prison instead of a knitting club. You are not in favour of transgenders, but you spend a lot of time in a country with a high rate of ladyboys.....
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