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 am also waiting to hear how @Luckydip1 defines and measures success? And hard working. What do you mean by that? You are throwing out these soundbites and seem unable to define what you're saying.

@jgw1 do you think the Chinese arrive at work and have a 30 minute tea break, hour for lunch, a couple more tea breaks and then leave at 5:30pm on the dot like the few brits that have a job, of course they don't.

Our household will be £20,000/year better off which means we won’t give notice to our part time nanny housekeeper which had been on the cards until today.

@Luckydip1 Thank you. So the way to measure how bright someone is, is how much they earn. That means for example that my gran was not very bright because she earnt very little in her lifetime.
Thank you for the clarification.

@Luckydip1 It’s not me saying this won’t work, it is the resounding opinion of the international markets. You have singularly failed to address this point.

Let's not get personal.

The currency markets are the Wild West, they know nothing.

@Luckydip1 So the measure of how hard someone works that you would like to use, is how long they spend working.
If I spent 14hours a day moving a pile of rocks from one side of the yard to the other, and then the next day spending 14hours moving them back again I would be exceedingly hard working.

Thank you for that clarification.

@Luckydip1 who is getting personal? I posted too soon. I happen to believe that morals and fairness actually pay off in the medium term, but even if I did not, my key concern at this point would be the teaction of the markets - a point youvstill haven’t addressed

"I suspect you protest so much as your contribution to society is so little for so much reward and it makes one a bit defensive"

Oh, well given that, there must be an AWFUL lot of people embarrassed by how little they contribute to society whilst taking so much from the public purse to foot the bill for their Sky TV, drugs, booze, fags and designer sportswear.
See? We can all do stereotypes. Funny how it's only OK when it's aimed at one side.

As for "falling out the right womb"?
Piss right off. A lot of high earners got there through sheer hard work, determination, sacrifice and drive. Despite their backgrounds.

Good idea. Let’s all work 6 day, 70 hour weeks so that we can do what? Buy more shit? Have a higher suicide rate?

DH and I left the UK earlier this year for Canada as a result of Brexit. DH a doctor and me, Corporate Finance Director. DT’s, both graduates with 1st class degrees - DS works for an engineering company in Amsterdam and DD for the EU in Brussels. None of us are planning on living in the Uk again.

No, no, so we can move rocks more effectively from one side of the yard to the other each day.

When I started at HMRC there were 60 rate bands, basic rate was 30% & the 40% rate band started at £15,400 & 60% started at £38,100. My salary was £4,664 for a 37 hour week.

Dismissing the currency markets absent analysis won’t cut it, I’m afraid. Here I will get personal and say I’m looking for something well reasoned.

That’s fair enough Mrs you didn’t have to provide me with an explanation and I was more just curious as to your views because you have said repeatedly that people with more should pay more.

You certainly came across as balanced with your overall views on here, and I agree with a lot of what you say. I was just interested in your Stance, which now when you explain it, isn’t as you say communist.

That's a very interesting statement.

It presumes that the "brightest" people will all pursue lucrative careers simply because they can. It fails to take account of the fact that money/wealth isn't necessarily something that everyone values particularly highly.

In fact, you could argue that the very "brightest" people are far more likely to take heed of the extensive research that shows that, beyond a certain point, wealth doesn't actually make you happier. So they prioritise other things.

I struggle with the concept that £20,000 makes a difference to someone on £450,000 to begin with.

My dh will earn in that bracket soon. But Even though we will be better if I don't really get it at all.
Doesn't make any sense other than maybe to line a few pockets. Dh wonders if it's to help higher paid government employees get a pay rise without openly admitting to a pay rise.

My comment of 21.16 was for @Luckydip1

Bravo, @MrsBennetsPoorNerves !

We can now afford to maintain our quota of serfs.

(please be a pisstake)

It is interesting that people don't seem to be concerned with the success of our nation and they are more interested in fairness and equality even if we are collectively poorer as a result. It helps me understand why there was so much support for Brexit.

Looool this is gold!! Slow clap for you @Luckydip1