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Would those on higher incomes pay more tax to support those affected by restrictions?

78 replies

nutmegtea · 15/10/2020 11:19

Myself and most of my friends and family are not affected by the lockdown financially. They can work from home, have savings and so on.

Most support further restrictions although not all. Some are happy to pay more tax to help pay for it all but others are resentful of those who got paid on furlough while they had to keep working and essentially see it as them getting paid out of their pocket to do nothing. I can see why they think that although I don't agree with them and its inevitable that some jobs are going to be more impacted than others but it has made me curious is people who do earn more would be happy to see a steep rise in the tax they pay to help pay for an extended furlough scheme, grants to businesses, the arts and self employed or does it annoy you to have tp pay out more for some to sit about while you are still having to work?

OP posts:
frozendaisy · 15/10/2020 18:35

So quick search for confirmation, the top 10% of earners already pay 59% of the entire income tax, top 1% of earners pay 28%.

That is a huge income tax receipt already.

I am not saying it's unfair as of course lower earners need to keep a greater percentage of their pay packet but it's a common misbelief that higher earners don't contribute enough.

Income tax will rise, but so will fuel duty I think.

You can't have 10% of the workers paying for this. But I presume the Chancellor knows this already. Otherwise high net worth individuals wi relocate.

MiracletoCome · 15/10/2020 18:53

Which high earners, the 45% band or the not so high 40% band, surely not the latter

Kljnmw3459 · 15/10/2020 23:12

Of course it's not just about income tax. There's a whole bunch of other taxes which will hit the low and middle income people much much more than they will the highest income.

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