I went to the UK treasury website and worked out that you have to pay tax rates something as follows in the table below (sorry if I got the numbers wrong....)
My question is, do you think we should cut taxes for people who earn less than £37,295 a year and start a new, higher tax rate of say 50% or 60% for people once they start earning more than say £50,000 or £60,000 or £100,000 per year? I mean how much money do those people actually need?
don't know how the figures would add up, but it does seem a bit unfair at the moment...
CURRENT TAX RATES:
0 to £4,895 = tax free
£4,895 to £6,985 = 10%
£6,985 - £37,295 = 22%
£37,295+ = 40%
2006-08-26 01:36:02 · 22 answers · asked by fieldmouse 3 in Politics & Government ➔ Politics
by the way, the webpage I got the above from is at: http://www.hm-treasury.gov.uk/budget/budget_06/press_notices/bud_bud06_press02.cfm
- remember the personal allowance means you don't pay tax on the first £4,895...
2006-08-26 01:38:00 · update #1
By the way, for Americans who are interested, the current UK tax rates in dollars works out as:
0 - $9,248 - tax free,
$9,248 - $13,197 - 10%
$13,197 - $70,465 - 22%
$70,465+ = 40%
2006-08-26 01:50:23 · update #2
yes
2006-08-26 01:38:35 · answer #1 · answered by Anonymous · 1⤊ 1⤋
Oh, dear, another person on about tax rates.
Please understand that while tax codes and tax rates all look pretty impressive, they really are quite minor. For years the Conservative Party got the vote on this issue with people believing that it would really make a difference. It was supposed to make the person who 'thought that they had a bit of money' vote for them because their taxes were too high.
Forget all about the people that are paying tax. Try sorting out the people that aren't paying tax! And in that I include the MD who takes on cash purchases and not declaring it to the unemployed person who works on the side and still claims his dole money.
2006-08-26 08:54:28 · answer #2 · answered by Anonymous · 0⤊ 0⤋
A Typical Narrow Minded View based on "If I haven,t got it you shouldn,t have it " you guys are so immersed with envy and jealousy you can,t see the reality of bringing everyone "Down" to what you in your ingnorance imagine will be to the benefit of "All" .this thinking is a fallacy and will never work . people that create wealth spend it , invest it and spread it around , if you want it use you brains , get out amongst it and earn it , but if your,e not "Up To It" don,t harbour resentment towards those that can , to say the least it,s unhealthy ,unproductive and won,t earn you anything== give it some thought
2006-08-26 09:14:32 · answer #3 · answered by ? 5 · 0⤊ 0⤋
We should have a tax rate based on a simple formula, which would also automatically give tax credits.
Work out what the average person needs to live on (say, £14,000). If you earn below this, tax credit should provide assistance. If you earn above this, tax should increase the more you earn.
This money should pay for council tax, national insurance, income tax.
2006-08-26 08:47:40 · answer #4 · answered by waycyber 6 · 1⤊ 1⤋
The 'super rich' in this country pay almost no tax anyway but it's a good idea.£100,000 would be about the right level for a 50% tax.It won't happen however because this goverment finds it easier to screw the little people.
2006-08-26 14:07:07 · answer #5 · answered by Rob Roy 6 · 0⤊ 0⤋
If you make a brain surgeon pay 60% tax, he will probably leave the country for another country with lower taxes. If you earn £10,000 a year and pay 25% tax you pay £2,500 in taxes. If you earn £100,000 and pay the same rate you pay £25,000 a year. That is enough.
2006-08-26 08:48:39 · answer #6 · answered by Anonymous · 1⤊ 1⤋
The reason we pay so much tax is because there are so many on the Benefit system that don't pay any tax.
They just take from the system and never put anything into the system
Get them back to work, make them pay tax and then well all be better off.
2006-08-26 09:01:55 · answer #7 · answered by Kevin H 2 · 0⤊ 1⤋
It seems that the poorer people of the community are taxed higher than the rich and the super rich. The more you earn, and have the less you have to pay tax.
2006-08-26 08:44:01 · answer #8 · answered by pa69oldfart 4 · 1⤊ 1⤋
You're what is colloquially known as a jealous old queen. You just don't want somebody else to have a bit more than you. If somebody's on £38k, you can bet they're earning it, not just sitting on their a r s e in an office, whingeing.
2006-08-26 10:05:04 · answer #9 · answered by Anonymous · 1⤊ 0⤋
No. Just rigorously enforce the current tax laws about tax evasion and stop giving them subsidies.
2006-08-27 13:44:13 · answer #10 · answered by Anonymous · 0⤊ 0⤋
no........why remove incentive?.....people earning £100,000.plus generally invest in industry,thereby helping to provide jobs.........they pay a high rate of tax on unearned income gained from their investments.........yes tax should be reduced for lower earners........but with New Labour this will never happen.
2006-08-26 11:27:00 · answer #11 · answered by HIPPI 2 · 1⤊ 0⤋