Income tax - top 45% rate scrapped! Bonkers!

[HoppingKangaroo]

The 45% top rate of tax (which currently applies on earnings above £150,000) will be scrapped entirely. How will this help the economy? It will just add to the government debt and it just helps out the very weathly.
Why not have more help for the poorest in the country and not have tax cuts for the very wealthy.

I would argue that we stand to lose the majority of wealth creators unless we take away a very unfair, and supposedly temporary massive tax in the first place!!
In what universe do you live in if you think it is acceptable to expect people to pay 47% tax indefinitely?

Calling people trolls because they don’t align is what I mean re hounding posters off

Just let people say how they feel without trying to insult and belittle

Well congratulations for being the 1% of the 1% then who actually made their way up through a rigged system. Like everyone else though, you clearly are friends with other people like you and so have your own particular echo chamber.

Can’t change the actual facts though - the best predictor for future earning potential is how rich your parents are.

We are living proof that is not the case!

Either you have no idea of how China and Russia are run, or no idea about Corbyn's policies.

I'll give you a clue. The Chinese government do the bare minimum to keep the populous quiet whilst busily trying to enrich themselves and their mates, mostly on the back of an over-inflated property market built on debt. If that reminds you of a group of British politicians, then that is probably because you listened carefully to the not Budget today and what the spongers on the government benches are trying to do.

You seem to have a horrible way of measuring success. Nurses, cleaners, bus drivers, teachers etc work harder than the majority but don’t have financial success but their contribution to society is greater.
DH and I (both 45% tax payers) have now left the UK - not because of the taxation system but because of Brexit.

They are really making themselves very popular for the other 95%. 😂Thickos.

Ffs, hardly anyone resents people doing well and being rewarded for hard work and success. What they resent is the level of that reward, the gap between the wealthiest and the poorest and a system that is about as far from a meritocracy as it is possible to get.

How can you possibly look about and think ‘looks fine to me’?

That’ll be because intelligence is hereditary and a positive attitude to effort and education is learned.

Were they planning to leave? I wouldn't blame them, we already lost a lot to Brexit and as I said the UK is on a downward trajectory. I don't think borrowing money at a high interest rate, to bribe them to stay is a good plan. Nor does the Market.🙈

@Kissingfrogs25 what do you mean by a wealth creator?

Look I am going to level with you.

The conservatives are WELL aware of the number of bankers, finance, tech pros, and all the very best of this country in terms of creating wealth are now well and truly fed up with being shafted.
No, they are no prepared to prop up endless waves of furlough in all its different forms. They are not prepared to continue with 47% taxes and sky high stamp duties and all the rest. There are better deals to be had quite frankly almost anywhere else globally, and many are offering huge sums to attract relocations from London.

The conservatives understand precisely what is at stake here, hence the removal of Boris Johnson. As unsightly and unbecoming as it all was, it was better than the mass exodus that was coming next..

Doh, no you’re not. You’re proof that if 99% of the highest earners come from already wealthy families, there are still a few who succeed despite the system.

If the Conservatives gave a shit about keeping high paid industries, they would not have supported Brexit. Finance institutions are leaving because banks are moving out of London.

Lol - clearly you never went to public school.

Where did I say I was a high earner?
So much for your "clearly".

People are forgetting how many scroungers there are who live off the state in this country. People who think a hard days work is going to the newsagent to buy a pack of fags or work in public sector jobs and don't realise you can work after 5:30pm. No wonder we are the most unproductive country in Europe. We need a collective kick up the backside.

This. ⬆️

David Cameron did not support Brexit he was a remainer!

Yup, just look at the Tory benches in the House of Commons. Taking 1000s of pounds in expenses and many not even prepared to reply to correspondence from their constituents.

Ok, so you just hang around with them. Got it.

Who mentioned Cameron?

Public sector workers are scroungers @Luckydip1 , clearly just looking for a fight now. I imagine public sector workers do more for you than you even realise.

Cameron was a remainer!

So was Truss. What is your point?