To believe that if Labour wins we wont be hit with 98% taxes?

[DistinguishedSocialCommentator]

And the other day one of the Labour lot let slip taxing pensioner more than others

A bit of Labour what they say and do - the 98% tax

You an Google the 98% tax if you dont want to read the link

AIBU not to trust the Labour lot just like I dont trust the Tories

https://www.adamjwalker.co.uk/business/are-you-ready-for-labours-tax-bombs/

That does actually make a great deal of sense. Haven't you got a book to promote, Liz?

That's not what I said at all.

Pretty much what you said. The Brexit leavers are gone and you think that’s more than those will leave at a 98% tax rate.
you didn’t give any numbers or basis of that just Brexit meant some left and therefore a few more isn’t an issue.

Right now I can see very little difference between Tory and Labour policy.

Labour are forecast a landslide victory and they want their entire undiluted message to be ‘boot out the tired failed Tories’, so they have no interest in actually discussing policy.

I do think, though, that the Tory ‘instinct’ is towards lower taxes and smaller government and the Labour instinct is towards higher taxes and bigger government.

We probably do need a higher net tax take for the NHS and education in particular, but it is how they get the tax that matters.

No, we won’t see anything like 98% tax, but we will see a number of tax rises in different areas over time.

There is nothing wrong with that per se. There are some things governments do best (running utilities for one!) but that does need more tax. We should have an honest discussion rather than both parties pretending we can have low taxes and great public services.

Work should be rewarded, IE an incentive to work and keep a fair share of your money.
Oh I so agree with this @DistinguishedSocialCommentator - but I suspect we would disagree on what this means. The work of nurses, teachers, doctors, postmen, binmen, so many people, should be rewarded. And they should definitely keep a fair share of their money. People who earn a high income (would you say they necessarily work harder than the people I've listed?) should also keep a fair share of that money. And a lovely chunk should go in taxes.

I do think, though, that the Tory ‘instinct’ is towards lower taxes and smaller government and the Labour instinct is towards higher taxes and bigger government.
@Newbutoldfather it's interesting that actually the Tories have been the party to hike taxes in the last 14 years.

I didn't say - that I think more left because of Brexit than will leave at a 98% tax rate.
I didn't say - some left and therefore a few more isn't an issue.

I did say we might want to look at the drain brain impact of Brexit before we start looking at the small number of people who would be in a 98% tax band.

You imagined the rest.

No imagining. One group have gone and it can’t changed the next outcome can changed.
The top 1% pay about 30% of all tax received. Maybe a small group but the impact would be huge.

Well I'm not quite sure what you wanted to write there, but what you did write didn't make sense.

Communication's not your strong suit.

Funny.
so one group have gone. The post Brexit leavers. You cannot change that.
Those that may leave under Labour can be changed. They haven’t gone.
I used a fact. The top 1% pay 30% of all tax receipts. That is less than 300k people who can all leave if tax rises.

sorry if the facts confused you.

You can use as many facts of figures as you like, but I did not say "it’s ok to lose a lot more highly paid people because we lost some due to Brexit? Presumably we want to hold on to the ones who stayed?"

You made that up.

The OP has now liked my last post. What is this shit?

The top 1% pay about 30% of all tax received. Maybe a small group but the impact would be huge.

I don't think that is exactly true, the top 1% pay 28% of income tax, but that is only part of all tax received by the Government.

Tories are very successful anarchists and wreckers. There will come a reckoning. But I'm afraid it won't help their victims.

Heard it all before in the 70s and 90s. So many people said ' if Labour gets in I'm off to New Zealand '. But nobody went.

• why is it always New Zealand I wonder. Yanks threatened to go there if FDR got in back in the 1930s. But ....nobody went then either.

The top 1% own 23% of the wealth in the UK. That's £3,500,000,000,000. (Aka £3.5 trillion)

If they gave away half of it, every household in the UK could have £60,000. And the Uber rich would still have £2,600,000 for each member of their family.

This disparity strikes me as obscene.

The vast majority of this group are so wealthy either because they inherited it or they were associated with Vladimir Putin. It's not been earned through hard work.

We should tax wealth, not just income.

Charging Capital Gains tax at the same rate as income would raise £12 billion for a start.

And that is indeed the fact I was referring to when many fled England with the 98% tax rate

Only a small percentage of people pay up to 40% of the taxes collected by the government. If this small percentage decided to naff off out of the country, the country would be in a proper mess.

Labour has any ideas/plans, so-called obviously, to better the nhs/educate/police/roads/etc but no real idea or honesty where the money will come from

I met someone from my first employment when i was 18/20ish - the person lived in rented soc housing and was our office clerk and on a relatively low wage. That person was several years older than me. This person always banged about "taxing property, taxing more new car especially the expensive one (meaning the likes of mercs/bmw in those days) and higher road taxes" etc etc

I then met the same person about 13/15 years later in town - we started talking about what the other was doing and the person had started their own business making wedding cakes then expanded into supplying dining table/cutlery etc to wedding parties/parties etc. Yes, then the person started about the high rates of income tax if you earned over x amount being "UNFAIR"

That person proved to me what I have known all along - its easy for those with little assets to say, "pay more taxes, give more to nhs, tax this, that and the other" as they lack aspirations and can see themselves in the higher tax brackets

Even where I last worked, a couple of people lived in rented, one in soc housing the other private rented - both always banged on about taxing property and new cars higher and tacing higher even more "international flights" as they'd never been out of the uk nor had passports - like i said, its easy to say stuff when you dont have to contribute towards it

HTH

Not a lot of people have to leave to have a massive, negative tax implication to England - have you not looked up what percentage of tax income gov get from the top 1%??????

@DistinguishedSocialCommentator if you look at the tax take in countries where inequality is orders of magnitude less than in the UK, you have the solution staring you in the face.

Funny how right wingers never seem to understand that reducing inequality improves things for everyone.

@DistinguishedSocialCommentator ,

‘I then met the same person about 13/15 years later in town - we started talking about what the other was doing and the person had started their own business making wedding cakes then expanded into supplying dining table/cutlery etc to wedding parties/parties etc. Yes, then the person started about the high rates of income tax if you earned over x amount being "UNFAIR"

That person proved to me what I have known all along - its easy for those with little assets to say, "pay more taxes, give more to nhs, tax this, that and the other" as they lack aspirations and can see themselves in the higher tax brackets’

Anecdote isn’t data and you are mixing up correlation and causation. My explanation for this isn’t that your mate suddenly had a revelation, it is that most people are selfish. Most poor people want more benefits, most rich people want to pay less tax.

I have paid tax at the highest rate and I know have significant assets, but I still think that there is too much inequality in this country and that money is not directly related to talent or utility.

We need a government that simplifies the tax system and gets the vast majority of people to buy into it. That means the right mix of taxes, total tax take being similar to other similar countries (currently we are quite a bit lower) and clearly improving public services, especially health and education.

They also need to deal with nepotism and crony capitalism, which absolutely destroy morale for everyone else. Bailing out banks and bank debt in 2008, quantitative easing and the COVID fast lane have caused immense damage which will last many decades.

We pay a lot of tax because we are lucky to make a good amount of money. We think we should be paying more. Many people share this viewpoint. Your anecdote, @DistinguishedSocialCommentator , is just that. We could trade them all day long, but it is boring. The people will have their say later this year.

All those Labour supporting Guardian columnists you presumably despise are higher rate taxpayers, and their columnist Will Hutton is a distinguished economist and former Master of an Oxford college, handsomely compensated for sure in addition to supporting Labour. Do you really suppose he is more ignorant than you are?

Forget all these people saying “of course it won’t happen”.

Theyre all suffering from normalcy bias.

labour, like the tories, see down despise us, and they will tax us.

it happened before and there is no reason at all why it won’t happen again.

Facts, unfortunately, don’t agree with you. It was a Tory governor that introduced the 50% (now 45%) tax rate and we’re currently being taxed more than at anytime in the last 70 years.

Budget 2024: Is the tax take the highest for 70 years? https://www.bbc.co.uk/news/uk-politics-68494168

🤣🤣🤣🤣

Bud? You use the term 'bud'?
Why?