Thought Id start this one going because its rather dead on this board at the moment and I suppose all my usual muckers are either at the Stella tennis event watching Dim Tim (lose again) or at Henly Regatta eating cucumber sandwiches (they wish,...NOT).

Anyway please feel free to just talk to yourself blast away and let it go on any company or subject you wish. Just wish Id thought of this one before.

cheers GF.

I remember when income tax was 87% and unearned income from investments and property etc was taxed at 98%. These rates were in the 1970s and came in under Harold Wilson. Many people left the country. The ones who could not just did not bother to try and earn any more when they got just 2p in the pound for themselves. My accountant always said that he was far busier in those days helping people avoid the tax. When the rates come down people don't want to pay so much to save tax. It is a case of diminishing returns. When rates are lower people accept them and don't fight too much.

Just think it through cynic - Yes I would accept 60% Tax . I think the ceilings would have to be changed as you say, as this kicks in at a low rate. I'm not talking taxing someone on 50k at 60% but someone on 500k +, yes . Far from a super -dooper tax.

Income Rate

2012-13

2013-14



Starting rate for savings: 10%.

£0-£2,710

£0- £2,790



Basic rate: 20%

£0-£34,370

£0- £32,010



Higher rate: 40%

£34,371-£150,000

£32,011-£150,000



(Old) additional 50% rate

Over £150,000

n/a



(New) additional 45% rate

n/a

Over £150,000

The rate of 50% that the coalition cut back to 45% was only introduced in the weeks before the election to make problems for the Conservatives. Labour had all those years to raise the tax to 50% and chose to do it with an election looming.

A cut for those on £150k+ of 10%

Crazy ?

The USA has the right idea regarding personal tax. If you are an American citizen then you pay tax on all your earnings no matter where you earns them. You can go and live in Italy, but you are liable to US taxes on your worldwide income.

Fred - instead of being Dogmatic and Pompous about former politicians try getting off your Butt or Postal Vote, until such times, you have no reason to speak ill of past, present or future politicians in my opinion. Labour in my opinion has done nothing over the years only dug us into holes which has left every other poor sod left to dig us out with critics like you I should suspect who DO NOT VOTE. I have just gone against my late Parents wishes and they were: Never argue about politics or religion. AMEN end of my say in all this dribble.

The very best arguments are about religion and politics. We really do need an atheist thread. Religious people are constantly whining about being offended about this or that. If you believe in an extraterrestial omnipotent being then you deserve to be offended and it should be people's duty to offend them.

Here, here 3m. Well said.

I personally am not an atheist, nor do I believe in Buckets of Crap from China - feel free and start your new thread Haystack.

Thanks dc but it gets too much at times - perhaps I should stop amusing myself and not look at what is being said. haha!! I a definitely going to swallow a dictionary on my return in the next life hehe!! Grow 4 legs, be a male and cock my leg up every time I pass a hoorah henry. Whoops. Good Night.

Lol

DC - so you'ld charge 60% marginal tax on all earnings over £500k ..... brilliant idea! ... how much do you think that would yield? .... almost certainly a lot less than it would cost to collect!

now try suggesting something that will yield oodles of boodle for little cost? .... did i hear 60% income tax on anyone over earning >£50k? ..... hmm! am sure that'll catch a lot of votes

3m - 2 legs will suffice.

Best to steer clear of the inane banality and just post the odd cartoon or a totally incongruous link.

What do you suggest than as everyones ideas always seem cr-p ?

Fred - You had better get over the road quick, some bright spark has just started a thread THE LABOUR PARTY. Username bomfin, he needs your help believe me :O)

Must admit I do admire your sense of humour skinny - you do your best to sway the seriousness of their chat and I always have a laugh. Carry on the good work.

me? .... though it won't be popular with fred and his acolytes (does that include DC?), i think raising income tax any more would be counter-productive ..... i would dispose of some of the "nonsense" benefits - e.g winter fuel allowance for those earning more than say £30k - which wouldn't raise a huge amount, it has to be admitted .... i'm afraid there will have to be yet more cuts in the defense budget - quite effective - and i would love to see big cuts in the blatant inefficiencies in local (and probably central) gov't admin staff and offices -fat chance i'm afraid ..... i would certainly do everything in my power to cut benefit abuse by "immigrants", especially with regard to free housing and the like .... i would certainly want to introduce immigration restraints, using something like the points system used in oz ..... i would like to see significant financial encouragement for apprenticeships at the expense of some of the stupid funding for 4th rate unis offering 5th rate degrees which have no use in the real world ..... i would like to see schools offering the less academic, real "basic training" in useful and marketable artisan trades and the like

much of the above is probably a load of crap after some decent wine, but some sense in there too i would venture

worth a read - Pulled this from the bottom of the write up - However if you consider the broader picture, the contribution of the richest 10% relative to their income is not too dissimilar to other income deciles, so there is plenty of room for discussion in the political argument that Nick Clegg has started at this year's conference.

http://fullfact.org/factchecks/tax-28258