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.

Ah yes equitable means taxing those on a lower wage even more so that they cannot afford to live….

im a higher rate tax payer and I think it’s fair that I pay more because I earn more

You sound very bitter, and maybe a bit high. I've seen lots of people suggest the 30% thing

The Universal credit bill would shoot right up if that happened!

@LuckysDadsHat I was simply hoping to provoke some debate, where people acknowledge that we ALL need to be in it together to fund services.....but sadly they never feel able to do so or it's their responsibility... when someone else can simply pay the burden.

We have become a Nation of takers.

It would be better to introduce a 50% rate band for anyone earning over £250k & a 55% rate band for anyone earning over £500k plus a wealth tax on anyone with assets over 5 million.

Excellent.... now if we only had another few
Million tax payers who thought the same way (in every tax bracket) we could get this country on track.

I'm surprised you made them get student loans. A lot of parents just see tuition fees as a continuation of paying private school fees

I don’t think it’s a case of lower earners wanting to shirk their responsibilities, it’s a case of needing enough money to feed and house their families! What about the people who pay no tax at all and take the most??

I think you know that what you're suggesting is preposterous but I do agree with your sentiment in some ways. I always notice that it is those that pay the least into the system that are extremely vocal about how we need to spend more on virtually everything.

It is ironic really because they must realise at an individual level through personal experience that money isn't finite and that you can't always pay for all the things you want or sometimes feel like you 'need'. Yet when it comes to government spending there is a feeling that it should all be needs based and that we should be somehow raising enough money through taxation to fund an endless list of expenditure, when really it is obvious that we should accept that there is a certain level of taxation that can be raised and we need to prioritise with this in mind. Some things will be missed and some needs will be unmet.

I don't think it's that bad an idea to raise the lower threshold but I'm not Chancellor and would have to run it past the OBR.

@PerfectYear321 I started out with nothing, worked hard renovating houses myself and letting them out.

I feel I have already helped them via education up to A Level, and want them to have an attitude of building success themselves rather than "Parents will Pay" attitude.

I'm here for guidance and support now as a parent, not their lender!

Those people I'd go for hard if I were in Government

How would you 'get' them OP?

You put it far more eloquently than me, but summarised my intention with this post perfectly, thank you.

sure fire recipe to encourage high earners to either work less or move.

Private offshore tax evasion is difficult to chase.

To begin with I would look at how we can tax companies like Amazon / Starbucks etc. who channel profits made in UK jurisdiction to non-UK countries.

Perhaps a sales tax on turnover or form of digital sales tax.

These companies can shoulder the burden, are profiting from our infrastructure yet no one seems to tackle them with water tight legislation.

No, don't be so ridiculous.

Knew this would be about VAT on private schools eventually, but the 'I'm in a minority' is even more laughable. Poor you, so sad. But sure, go after 40% tax from someone on minimum wage OP. After all, they should have worked harder at school/get a better job/applied themselves/did what you did and all the other tropes that make you feel like a more superior and more deserving human being.

If the Government supported me when out of work I would consider a higher tax rate
Yet...if I fall sick, statutory sick pay is insufficient
If I lose me job, my husband earns too much for us to be considered needing help
Uni contributions are based on parents earnings not affordability
We may have 2 incomes, but the only way we can safeguard ourselves is to budget critical bills as though we have 1 income...that's not good enough
So instead I'm paying for income protection and redundancy protection all because we have a state system which taxes and supports those unwilling to work.
Any benefits (excluding disability based) should be based on your input, if you told me during a time of need benefits/support would cover 70-80% of my salary I'd happily pay a higher tax rate
Until then if you think I'm going to pay more tax AND continue paying high insurance premiums you can jog on!

It isn't about VAT on education. If you read the posts you would know that, but I'm happy to (ahem) educate you directly!

I'd start taxing the RF at 99%.
I don't care if I'd only be a few pence p.a. better off - better in my pocket than theirs.
And make them pay for their own funerals, weddings, etc.

What “loopholes” are you referring to?

You know they don't pay 40% on all their earnings don't you?

Yeah they should definitely bring this in...

Speed up the revolution, nice and quick.

I have read everything you have posted and you referred to VAT on education very early on. But sure focus on that point because the rest of what I said is true and it's telling that you have offered to educate me, because that shows you think I'm beneath you too.