Should the Lower Rate of Income Tax be 40%

[ChilledOut79]

I have read so many posts over the recent Months regarding adding VAT to education provision & Labour tax plans.

All these posts seem to have recurring theme to tax "someone else" more, so the net contributors (who already subsidise net recipients through tax take), have to pay even more in the name of funding the NHS/state schools etc.

It seems to me, If funding services are that much of a priority, we should increase the base rate of income tax to 40% for everyone.

This would fund all vital services and ensure all mainstream tax payers have the same skin in the game.

Even less incentive for people to work harder

Bloody hell. How would anyone afford to live ?

In which case, why should those already in the 40% bracket do this and why should they pay even more, which many posters on MN overwhelming think they should do across dozens of posts.

Wages would have to increase to unaffordable amounts or eligibility to benefits would.
You can't just change a tax rate from 20 to 40% over night. What a stupid post.

Absolutely not.
There are plenty of people who don’t work, maybe they should get less rather than those who work to keep this country afloat.
We should also look at closing lots of loop holes which exist enabling the extremely wealthy to just get even more extremely wealthy.

You'd throw a significant chunk of the population into poverty.

I do think the threshold for paying 40% tax should also be increased.

So you want someone on minimum wage to pay 40% tax plus national insurance?

I think it should stay where it is.

I could sort of see your reasoning (even if I didn’t agree with it) if all of a higher rate tax payers salary was taxed at 40%. The current system takes more from those who have extra. I think it’s fair.

That hasn't stopped the government adding VAT to education at 20% though.

My point here is the majority here, always think additional tax should come from others who "have more" without any thought these people too are struggling to make ends meet.

It's okay though that group can pay even more if our fair share!

I would advocate for a universal income tax rate. It's about time everyone proportionately pays the same percentage.

Taxing someone on minimum wage 40% is the stupidest idea I’ve ever heard of.

Just say you’re salty about the private school VAT and go find one of the 3 billions threads to moan about it.

Well so long as you're happy that your cunning plan would see you taxed an extra £6,500 as well. Given that you pay the lower rate of tax on your earnings between £12500 and £45k.

If I was taxed at 40% on my Living Wage job, I wouldn't be able to pay my rent or rent somewhere else, and millions of others would be in the same situation.

Not salty. 2 of my 3 are finished so it won't affect me.

I'm simply demonstrating that the majority are happy to abdicate their tax responsibility onto anyone else.

Interesting that nobody has suggested a universal income tax rate of say 30%, and perhaps increase the taxable allowance for anyone on minimum wage?!

The change to VAT on schools is on one life expense though, that you can choose to invest in or not. Possibly make savings elsewhere etc. To make a change to income tax affects people's entire income and they will likely not have anything to cut to cover such a huge drop in take home. They are not equivalent at all.

I live on my own and wouldn’t be able to afford to pay my mortgage and bills if I had to pay 40% tax. Single income people with no dependent children get shafted all the bloody time.

OP has no clue.

How did someone with ideas like this get into the higher tax bracket anyway? Do you work in your dad’s company or something OP?

Perhaps I would be happy to pay more, if proportionately the tax burden was
More equitable and shared across society....instead of a minority group.

Sounds like a real voter winner.

Ha ha. I was thinking similarly 😂 (@Qwertys)

The tax burden is proportionally lower for lower earners to ensure they gave as close as possible to a living wage though. If you taxed them proportionally then they'd need benefits to be able to live, costing the same if not more so would be pointless.