To believe that if Labour wins we wont be hit with 98% taxes?

But absolutely no one in power has come close to suggesting a 98% tax rate on anything, OP. Even that clickbait article you linked to did not provide a single piece of evidence for the author’s scaremongering assertions

Oh didn’t realise we were going back 40 years @Brumhilda! The fact still remains that the coalition government raised taxes as have subsequent Tory ones and we’re being taxed now the most for 70 years. So nice try but no cigar for you either.

Nice try but no.

“The Government of Margaret Thatcher, who favoured taxation on consumption, reduced personal income tax rates during the 1980s in favour of indirect taxation.[14] In the first budget after her election victory in 1979, the top rate was reduced from 83% to 60% and the basic rate from 33% to 30%.[15] The basic rate was also cut for three successive budgets – to 29% in the 1986 budget, 27% in 1987 and to 25% in 1988; The top rate of income tax was cut to 40%.[16]The investment income surcharge was abolished in 1985.”

We pay a lot of tax because we are lucky to make a good amount of money. We think we should be paying more. Many people share this viewpoint.

I share your viewpoint @poetryandwine

Jeremy Corbyn is no longer leader of the Labour Party and you are therefore safe from daft stuff like 98% tax rates.

Bud? You use the term 'bud'?
Why?

🤣🤣🤣🤣

Facts, unfortunately, don’t agree with you. It was a Tory governor that introduced the 50% (now 45%) tax rate and we’re currently being taxed more than at anytime in the last 70 years.

Budget 2024: Is the tax take the highest for 70 years? https://www.bbc.co.uk/news/uk-politics-68494168

Forget all these people saying “of course it won’t happen”.

Theyre all suffering from normalcy bias.

labour, like the tories, see down despise us, and they will tax us.

it happened before and there is no reason at all why it won’t happen again.

We pay a lot of tax because we are lucky to make a good amount of money. We think we should be paying more. Many people share this viewpoint. Your anecdote, @DistinguishedSocialCommentator , is just that. We could trade them all day long, but it is boring. The people will have their say later this year.

All those Labour supporting Guardian columnists you presumably despise are higher rate taxpayers, and their columnist Will Hutton is a distinguished economist and former Master of an Oxford college, handsomely compensated for sure in addition to supporting Labour. Do you really suppose he is more ignorant than you are?

@DistinguishedSocialCommentator ,

‘I then met the same person about 13/15 years later in town - we started talking about what the other was doing and the person had started their own business making wedding cakes then expanded into supplying dining table/cutlery etc to wedding parties/parties etc. Yes, then the person started about the high rates of income tax if you earned over x amount being "UNFAIR"

That person proved to me what I have known all along - its easy for those with little assets to say, "pay more taxes, give more to nhs, tax this, that and the other" as they lack aspirations and can see themselves in the higher tax brackets’

Anecdote isn’t data and you are mixing up correlation and causation. My explanation for this isn’t that your mate suddenly had a revelation, it is that most people are selfish. Most poor people want more benefits, most rich people want to pay less tax.

I have paid tax at the highest rate and I know have significant assets, but I still think that there is too much inequality in this country and that money is not directly related to talent or utility.

We need a government that simplifies the tax system and gets the vast majority of people to buy into it. That means the right mix of taxes, total tax take being similar to other similar countries (currently we are quite a bit lower) and clearly improving public services, especially health and education.

They also need to deal with nepotism and crony capitalism, which absolutely destroy morale for everyone else. Bailing out banks and bank debt in 2008, quantitative easing and the COVID fast lane have caused immense damage which will last many decades.

@DistinguishedSocialCommentator if you look at the tax take in countries where inequality is orders of magnitude less than in the UK, you have the solution staring you in the face.

Funny how right wingers never seem to understand that reducing inequality improves things for everyone.

The top 1% own 23% of the wealth in the UK. That's £3,500,000,000,000. (Aka £3.5 trillion)

If they gave away half of it, every household in the UK could have £60,000. And the Uber rich would still have £2,600,000 for each member of their family.

This disparity strikes me as obscene.

The vast majority of this group are so wealthy either because they inherited it or they were associated with Vladimir Putin. It's not been earned through hard work.

We should tax wealth, not just income.

Charging Capital Gains tax at the same rate as income would raise £12 billion for a start.

Heard it all before in the 70s and 90s. So many people said ' if Labour gets in I'm off to New Zealand '. But nobody went.

• why is it always New Zealand I wonder. Yanks threatened to go there if FDR got in back in the 1930s. But ....nobody went then either.

Tories are very successful anarchists and wreckers. There will come a reckoning. But I'm afraid it won't help their victims.

The top 1% pay about 30% of all tax received. Maybe a small group but the impact would be huge.

I don't think that is exactly true, the top 1% pay 28% of income tax, but that is only part of all tax received by the Government.

You can use as many facts of figures as you like, but I did not say "it’s ok to lose a lot more highly paid people because we lost some due to Brexit? Presumably we want to hold on to the ones who stayed?"

You made that up.

The OP has now liked my last post. What is this shit?

Funny.
so one group have gone. The post Brexit leavers. You cannot change that.
Those that may leave under Labour can be changed. They haven’t gone.
I used a fact. The top 1% pay 30% of all tax receipts. That is less than 300k people who can all leave if tax rises.

sorry if the facts confused you.

Well I'm not quite sure what you wanted to write there, but what you did write didn't make sense.

Communication's not your strong suit.

No imagining. One group have gone and it can’t changed the next outcome can changed.
The top 1% pay about 30% of all tax received. Maybe a small group but the impact would be huge.