50% of nothing is less than 40% of something.
Think about it HMG and HMRC.
Tax does have to be taxing.
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u mad?
ReplyDeleteI think Ken is referring to the 40% and 50% tax rates, part of the government policy of persuading clever high earning people to organise their tax affairs so that they pay little, or vitually no tax because they have the ability to leave the country.
ReplyDeleteWe don't need to have a poll in order to learn whether people want to pay 50%+ of their earnings to a government, whether through mismanagement/incompetence, who will spend all the money it can grab from everyone in sight.
Trevor Scott
"part of the government policy of persuading high earning people to organise their tax affairs so that they pay little, or vitually no tax."
ReplyDeleteIn what way will introducing a 50% rate of tax change things?
thought this was a new recruiting image for HMRC.
ReplyDelete"HMRC is like a Johnny it only protects you whilst you are being screwed"
Oh no - won't that be a shame if all the higher earners leave? How will the boutique, higher end chain hotel and bistro industries cope?!?! You know what, prices might actually start to reflect the real value of items.
ReplyDeleteIf you look at historical budgets. The Tory govt always screwed average wage earners, Labour gradually brought the starting and basic tax rates down from 1998. They've left the highest rate untouched for 12 years.
In fact, Howe, Lawson and Major respectively, held the Top rate of tax set at 60 percent in the Thatcher years despite inflation increases in salaries.
"HMRC is like a Johnny it only protects you whilst you are being screwed"
Err... the govt/treasury sets the tax rates - not HMRC. I'd be wary if I were you - as you don't seem to be aware who is actually screwing you.
I'd be wary if I were you
ReplyDeleteYou are right about who sets the rates but do not expect anyone around here to be wary of you.