What tax do you most hate

[Taxta]

I’m torn between stamp duty and inheritance tax.

Well, yes. But it would benefit the working classes most.

Because this is my money.
If you decide to put a limit on it, I just stop working and earning.
And this is what a lot of people already do.

Contrary to your assumption I am a high earner. The extra 5% over 125k isn't going to massively alter my lifestyle. But to someone on minimum or low wage saving 20% on 5k a year is a huge difference

It does have an impact on behaviour though personally I would remove the cliff edges

@nearlylovemyusername I don’t understand your reply. There are already IHT bands…

As I said upthread if would be far more beneficial for me to benefit from abolishing the cliff edges now vs increasing how much potential inheritance I get when i’m older.

High earners also contribute the most

Perhaps the missing tax is the one that targets those who post they want it pay more on SM. That could bring in some extra funds.

As they should?

And they do!

Exactly. DH and I are the same. But if we say because of this we might move to a place with 0% income tax the MN crowd have an uproar.

And don’t we know it! I’m a bit sick of the whinging to be honest

Don't bite the hand that feeds you

For you it would be better. For my DC not.

I want my DC to get all my money, not for someone random to decide how much is sufficient for them.

And I do change my behavior to ensure this.

Very ironic.

High earners still benefit massively from the state. From the education system to the NHS, to all the council services - yet for some reason they think they don’t have to contribute to that.

High earners will be more likely to not use those things.

More likely to not use roads? To not use the NHS? I doubt it. They benefit from society - including those that paid tax to educate and look after them, but for some reason they think that they don’t need to contribute. I’ve yet to see an explanation as to why.

I don't think they think they shouldn't contribute, I think they think they pay enough!

And yes they are more likely to send their children private, have private healthcare, so yes wealthy people are less of a drain on the state. Obviously.

Again they pay for all thi.s already. And pay the most.

They’ve used the system before though, so what’s the premise? Other people should have paid for them, but they don’t need to contribute? They’ll draw a state pension, but they don’t need to contribute to the state? People living are not a drain on the state. That’s a horrible way to look at it.

High earners are likely to use private health insurance and educate kids privately.

High earners, top 10%, already pay 60% of all income tax revenue.

They benefit considerably less than 8m welfare recipients of working age, 70% of whom don't work at all.

Current level of taxation is already killing our economy, tax it any higher and there won't be anything left.

Who do you think should pay the most?

I haven't seen any high earners say they shouldn't pay any tax

Ironically the thing killing the economy is the state pension and the triple lock.

I don't think anybody is saying they shouldn't pay tax!

@nearlylovemyusername but thresholds already exist?

For you it would be better. For my DC not

Inflation erodes money so it’s better for most to have it earlier not just me.

And I do change my behavior to ensure this

If so surely you won’t have any IHT to pay then?

Private healthcare is vastly superior to the shitty NHS.