| Got to feel sorry for middle england on 15:32 - Mar 7 with 1018 views | Aviator |
| Got to feel sorry for middle england on 14:01 - Mar 7 by DanTheMan |
I will keep banging this drum, but a simple start would be making capital gains tax work like income tax. I don't understand why it's not.
The fact that Sunak paid less in tax as a percentage on his massive earnings than someone on the lowest band is just bonkers.
Patriotic Millionaries have a bunch of these sorts of policy suggestions. The mega-wealthy did incredibly well out of COVID and all the money pumped into the economy and if we don't claw it back we're going to entrench the inequality. |
If gains were to be taxed at the same rate as income they would need to be indexed. It’s a tax partly on inflation. Also the money invested initially has already been taxed once. Also if you increase CGT you’re removing the incentive to realise the gain and spend the money. |  | |  |
| Got to feel sorry for middle england on 15:44 - Mar 7 with 995 views | Aviator |
| Got to feel sorry for middle england on 16:11 - Mar 5 by giant_stow |
"The mid-to-high earners shouldn't be the enemy here."
I'm no economist, but if we want a better standard of living for the poorest, doesn't that inevitably mean less for the well off? And not just to 1% but that 10% you mention? |
The top earners are the ones who are already paying most of the tax thereby supporting everyone else. Think how many nurses a premier league footballer pays for. There will always be people richer than you. You could take wedge off a few billionaires once, but would it make any difference? | | | |
| Got to feel sorry for middle england on 15:58 - Mar 7 with 969 views | DanTheMan |
| Got to feel sorry for middle england on 15:44 - Mar 7 by Aviator |
The top earners are the ones who are already paying most of the tax thereby supporting everyone else. Think how many nurses a premier league footballer pays for. There will always be people richer than you. You could take wedge off a few billionaires once, but would it make any difference? |
Premier League footballers are not billionaires, and as you say most of their income would be heavily taxed.
And you can take a wedge off of billionaires more than once. That's precisely what wealth taxes are for, whether by things like making capital gains tax move inline with how income tax works or introducing new taxes on assets worth £Xmillion. |  |
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| Got to feel sorry for middle england on 16:25 - Mar 7 with 934 views | ClareBlue |
We've had a right number done on us.
It's not entitled or uncaring or elitist to have an expectation that if you pay to educate yourself, find employment and work hard, pay your taxes for a common good and are law abiding, that you might be able to live in a suitable house, holiday with your family, have some discretionary spending and save a bit for your family and your future.
Instead the narrative is you should count your self lucky you can pay to scrape by and exist. Look at all those poorer than you having a hard time. So instead of having any expectations we end up just being thankful we can house ourselves and eat, because some can not.
It's not a race to the bottom. And it is valid to say your expectations are not being met, even if there are people who are in a worse position than you. | | | |
| Got to feel sorry for middle england on 16:36 - Mar 7 with 900 views | noggin |
| Got to feel sorry for middle england on 15:44 - Mar 7 by Aviator |
The top earners are the ones who are already paying most of the tax thereby supporting everyone else. Think how many nurses a premier league footballer pays for. There will always be people richer than you. You could take wedge off a few billionaires once, but would it make any difference? |
You seem to be defending disgusting wealth inequality. 3 individuals in America have as much wealth as the bottom 50% of the country. Britain may not be quite so extreme but I bet it's not far off. |  |
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| Got to feel sorry for middle england on 16:41 - Mar 7 with 880 views | noggin |
| Got to feel sorry for middle england on 16:25 - Mar 7 by ClareBlue |
We've had a right number done on us.
It's not entitled or uncaring or elitist to have an expectation that if you pay to educate yourself, find employment and work hard, pay your taxes for a common good and are law abiding, that you might be able to live in a suitable house, holiday with your family, have some discretionary spending and save a bit for your family and your future.
Instead the narrative is you should count your self lucky you can pay to scrape by and exist. Look at all those poorer than you having a hard time. So instead of having any expectations we end up just being thankful we can house ourselves and eat, because some can not.
It's not a race to the bottom. And it is valid to say your expectations are not being met, even if there are people who are in a worse position than you. |
Keep the plebs arguing amongst themselves and they won't notice the rich stealing from their tables. | |
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| Got to feel sorry for middle england on 16:43 - Mar 7 with 870 views | Aviator |
| Got to feel sorry for middle england on 16:36 - Mar 7 by noggin |
You seem to be defending disgusting wealth inequality. 3 individuals in America have as much wealth as the bottom 50% of the country. Britain may not be quite so extreme but I bet it's not far off. |
Makes no difference to anyone else. | | | |
| Got to feel sorry for middle england on 16:46 - Mar 7 with 853 views | Aviator |
| Got to feel sorry for middle england on 16:25 - Mar 7 by ClareBlue |
We've had a right number done on us.
It's not entitled or uncaring or elitist to have an expectation that if you pay to educate yourself, find employment and work hard, pay your taxes for a common good and are law abiding, that you might be able to live in a suitable house, holiday with your family, have some discretionary spending and save a bit for your family and your future.
Instead the narrative is you should count your self lucky you can pay to scrape by and exist. Look at all those poorer than you having a hard time. So instead of having any expectations we end up just being thankful we can house ourselves and eat, because some can not.
It's not a race to the bottom. And it is valid to say your expectations are not being met, even if there are people who are in a worse position than you. |
Yet 60% of Brits will take a holiday abroad this year and most of them more than one. | | | |
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| Got to feel sorry for middle england on 16:47 - Mar 7 with 844 views | noggin |
| Got to feel sorry for middle england on 16:46 - Mar 7 by Aviator |
Yet 60% of Brits will take a holiday abroad this year and most of them more than one. |
Your point being? You've just highlighted CBs point about a race to the bottom. [Post edited 7 Mar 16:49]
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| Got to feel sorry for middle england on 16:51 - Mar 7 with 826 views | Aviator |
| Got to feel sorry for middle england on 16:47 - Mar 7 by noggin |
Your point being? You've just highlighted CBs point about a race to the bottom. [Post edited 7 Mar 16:49]
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Point being that you are correct it’s not unreasonable to expect luxuries and indeed most people have them. | | | |
| Got to feel sorry for middle england on 16:53 - Mar 7 with 810 views | Churchman |
| Got to feel sorry for middle england on 15:44 - Mar 7 by Aviator |
The top earners are the ones who are already paying most of the tax thereby supporting everyone else. Think how many nurses a premier league footballer pays for. There will always be people richer than you. You could take wedge off a few billionaires once, but would it make any difference? |
A progressive tax system seems right to me. Those who earn more, pay more. It’s fair. What isn’t fair is that the very wealthy pay much less in percentage terms than everyone else (10% to 15% on average? - can’t remember the figures). So in pure £ terms they still pay much more than Johnny Average: that to me is irrelevant.
Everybody supports each other, one way or another. That’s how it ought to be. If the mega wealthy want to tuck their wealth away in foreign lands as the likes of dipstick Sunak and freak Reece-Mogg have, they’ll do it anyway. I’m not suggesting the rich are taxed to Denis Healey levels where diminishing returns set in. Just that they pay their fair percentage along with any other tax dodgers. |  | | |
| Got to feel sorry for middle england on 16:54 - Mar 7 with 799 views | noggin |
| Got to feel sorry for middle england on 16:51 - Mar 7 by Aviator |
Point being that you are correct it’s not unreasonable to expect luxuries and indeed most people have them. |
Define 'luxuries'
I've heard people say 'They're not genuine asylum seekers because they have mobile phones' | |
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| Got to feel sorry for middle england on 17:00 - Mar 7 with 775 views | Aviator |
| Got to feel sorry for middle england on 16:53 - Mar 7 by Churchman |
A progressive tax system seems right to me. Those who earn more, pay more. It’s fair. What isn’t fair is that the very wealthy pay much less in percentage terms than everyone else (10% to 15% on average? - can’t remember the figures). So in pure £ terms they still pay much more than Johnny Average: that to me is irrelevant.
Everybody supports each other, one way or another. That’s how it ought to be. If the mega wealthy want to tuck their wealth away in foreign lands as the likes of dipstick Sunak and freak Reece-Mogg have, they’ll do it anyway. I’m not suggesting the rich are taxed to Denis Healey levels where diminishing returns set in. Just that they pay their fair percentage along with any other tax dodgers. |
Totally agree. Ideally everyone should pay exactly the same percentage. At the moment middle and higher earners pay a larger percentage. And those at the bottom pay sod all. | | | |
| Got to feel sorry for middle england on 17:01 - Mar 7 with 763 views | noggin |
| Got to feel sorry for middle england on 17:00 - Mar 7 by Aviator |
Totally agree. Ideally everyone should pay exactly the same percentage. At the moment middle and higher earners pay a larger percentage. And those at the bottom pay sod all. |
Wow! Those at the bottom HAVE sod all. | |
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| Got to feel sorry for middle england on 17:06 - Mar 7 with 734 views | Aviator |
| Got to feel sorry for middle england on 16:54 - Mar 7 by noggin |
Define 'luxuries'
I've heard people say 'They're not genuine asylum seekers because they have mobile phones' |
Foreign holiday = luxury. Day trip to Felixstowe perhaps not.
iPhone = luxury. Android perhaps not.
Sky subscription = luxury. A Tv, perhaps not.
Meal out = luxury, take away, perhaps not.
Dishwasher = luxury. Washing up liquid, perhaps not. | | | |
| Got to feel sorry for middle england on 17:09 - Mar 7 with 711 views | Aviator |
| Got to feel sorry for middle england on 17:01 - Mar 7 by noggin |
Wow! Those at the bottom HAVE sod all. |
Yes but a % of sod all, is sod all. I believe everyone should pay something in principle. That way they can rightly claim they are tax payers. People should be proud to contribute. | | | |
| Got to feel sorry for middle england on 17:22 - Mar 7 with 679 views | noggin |
| Got to feel sorry for middle england on 17:06 - Mar 7 by Aviator |
Foreign holiday = luxury. Day trip to Felixstowe perhaps not.
iPhone = luxury. Android perhaps not.
Sky subscription = luxury. A Tv, perhaps not.
Meal out = luxury, take away, perhaps not.
Dishwasher = luxury. Washing up liquid, perhaps not. |
Don't worry, the poor are paying for these luxuries on credit. Who do you think is earning from that credit? | |
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| Got to feel sorry for middle england on 18:16 - Mar 7 with 623 views | JonBlue |
| Got to feel sorry for middle england on 17:09 - Mar 7 by Aviator |
Yes but a % of sod all, is sod all. I believe everyone should pay something in principle. That way they can rightly claim they are tax payers. People should be proud to contribute. |
The low paid may pay a lower percentage in direct taxes than High/Middle earners but pay a much larger percentage of their income in indirect taxes such as VAT, Fuel Duty, green levies on energy, Council Tax than those on higher incomes. Everyone does contribute. |  | | |
| Got to feel sorry for middle england on 20:48 - Mar 7 with 536 views | DJR |
| Got to feel sorry for middle england on 18:16 - Mar 7 by JonBlue |
The low paid may pay a lower percentage in direct taxes than High/Middle earners but pay a much larger percentage of their income in indirect taxes such as VAT, Fuel Duty, green levies on energy, Council Tax than those on higher incomes. Everyone does contribute. |
Absolutely. The problem it seems to me is that the Tories have successfully made many people focus mainly on income tax, not realising that many income tax cuts have been accompanied by increases in indirect (or stealth) taxes. For example, at one time VAT was 8% but it is now 20%, something that is necessarily obvious if one goes into B & Q and buys, say, a hammer. But it certainly hits home if you get a quote from a tradesperson.
And to confirm what you say, this from 2017, stated that the poorest fifth of households paid the most, as a proportion of their disposable income, on indirect taxes – 29.7% compared with 14.6% paid by the richest fifth of households.
https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances [Post edited 7 Mar 20:53]
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