Do you think Britain is over-taxed....so much so that it stifles initiative?
2007-12-19 00:52:41 · 8 answers · asked by B0uncingMoonman@aol.com 7 in Business & Finance ➔ Taxes ➔ United Kingdom
Of course it is.
I have to work bloody hard just to see 40% get taken away straight away.
Then everything I buy (with the 60% I have left) has a 17.5% levy on top of that.
Even stuff without the 17.5% levy has hidden tax in it as the cost will include the taxes the company had to pay to produce it and ship it.
By my reckoning for every £1 you earn in your life you'll give about 85p to the government in tax.
Then you die and they take anther 40% in death duty. So for every £1 you earn in life you can only pass a maximum of 7.5p to your children (after deducting your living expenses).
Why am I paying all this tax, oh yeah so I can fund all the workshy scoungers who won't work. What a wonderful country
We get told about the NHS and old age pensions. Well sorry, I would like to keep more of MY money and make my own provision.
Some say that the system merely curtails excessive persnal wealth. Why should personal wealth be curtailled? If someone wants to work hard to earn more what's wrong with that? To be told that you have to pay more to support the "less well off" has got to be a disincentive so it has to stifle ambition and initiative.
2007-12-19 01:10:28 · answer #1 · answered by Anonymous · 2⤊ 1⤋
You can now stuff 100% of your earnings into your Pension Fund (SIPP) and get back all the Tax ..
When you retire, claim the 25% Tax Free lump sum, sell your mega-over priced broom closet / hovel in London and emigrate to somewhere where you can live a decent life on your Pension ..
PS
1) better pick some-where in EU if you want to collect any increases in the 'old age' pension as well ...
2) better choose somewhere a future UK Government can't get it's hands on your Pension Fund ..
2007-12-19 02:47:35 · answer #2 · answered by Steve B 7 · 2⤊ 0⤋
No. I have paid tax and NI contributions all my life, and I now have a modest pension, free travel, free prescriptions and free health care. Friends in the US carry on working long after they want to to get the Health Insurance. If we had a Hurricane Katrina here, the UK government would and could step in, as they did in the summer floods. Not perfect, but compared to the way those poor New Orleans folk were treated. They were taxpayers, where was the initiative to help them ?
2007-12-19 01:05:11 · answer #3 · answered by Anonymous · 1⤊ 1⤋
The lower your income the more you pay. This April sees the doubling of lower tax rate which will hit millions of the less well of and benefit the well off. The BBC hardly gave any air time to this, instead concentrating on the slight raise in capital gain tax on businesses.
2007-12-19 11:40:41 · answer #4 · answered by Anonymous · 0⤊ 0⤋
england is a socialist country. it has been this way since 1942,
you think youre taxed too much... would you prefer it of you had to pay every time yuo saw a doctor, paid for all your childrens education, defended your own rights and property and pay for your extensive medical care when youre too old to work.
its doesnt stifle initiative, it curtails personal wealth... it puts the poor and needy above the rich and the greedy. and youre very dismissive of the country which supports you, regardless of wealth or position, from the cradle to the grave.
be careful what you wish for, you might just get it...
2007-12-19 01:05:41 · answer #5 · answered by Anonymous · 1⤊ 1⤋
The government is more interested in the distribution of wealth than the creation of wealth.
2007-12-19 00:56:39 · answer #6 · answered by Barbara Doll to you 7 · 2⤊ 0⤋
I'm over taxed, I don't know about you lot.
2007-12-19 05:03:17 · answer #7 · answered by Baz 5 · 1⤊ 0⤋
Yes.
2016-12-12 20:40:52 · answer #8 · answered by Anonymous · 0⤊ 0⤋