| We are all in this together part 29293094848598606056049290 on 17:25 - Feb 9 with 1197 views | matteoblue |
Damn those high tax payers. A drain on society. |  |
| We are Premier League, say we are Premier League! |
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| We are all in this together part 29,293,094,848,598,606,056,049,290.7 on 17:29 - Feb 9 with 1170 views | DanTheMan |
I still don't understand why capital gains is not taxed proportionally like income. Paying roughly 20% on earnings of £1.8million is silly given the 40% tax rate kicks in at 37k. |  |
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| We are all in this together part 29293094848598606056049290 on 17:31 - Feb 9 with 1169 views | factual_blue |
| We are all in this together part 29293094848598606056049290 on 17:25 - Feb 9 by matteoblue |
Damn those high tax payers. A drain on society. |
Total monies received = £2.2 million
Total tax paid = £508,308
Percentage paid in tax = 23.1%
So quite a low tax payer really. |  |
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| We are all in this together part 29,293,094,848,598,606,056,049,290.7 on 17:32 - Feb 9 with 1162 views | factual_blue |
| We are all in this together part 29,293,094,848,598,606,056,049,290.7 on 17:29 - Feb 9 by DanTheMan |
I still don't understand why capital gains is not taxed proportionally like income. Paying roughly 20% on earnings of £1.8million is silly given the 40% tax rate kicks in at 37k. |
Yes, but if you tax people like him heavily, they'll quit the country. | |
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| We are all in this together part 29293094848598606056049290 on 17:54 - Feb 9 with 1124 views | BlueBadger |
| We are all in this together part 29293094848598606056049290 on 17:25 - Feb 9 by matteoblue |
Damn those high tax payers. A drain on society. |
That's not wealth that's trickling down onto you... [Post edited 9 Feb 21:53]
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| We are all in this together part 29,293,094,848,598,606,056,049,290.7 on 17:57 - Feb 9 with 1103 views | DJR |
At least when he is booted out, his earnings will be safe in Labour hands, as they've ruled out doing anything about the low rates of tax on capital gains or dividends.
And Labour also look like they are rowing back on their plans with respect to private equity..
https://www.cityam.com/labour-considers-watering-down-plans-for-a-private-equity [Post edited 9 Feb 18:38]
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| We are all in this together part 29,293,094,848,598,606,056,049,290.7 on 21:45 - Feb 9 with 999 views | factual_blue |
| We are all in this together part 29,293,094,848,598,606,056,049,290.7 on 17:57 - Feb 9 by DJR |
At least when he is booted out, his earnings will be safe in Labour hands, as they've ruled out doing anything about the low rates of tax on capital gains or dividends.
And Labour also look like they are rowing back on their plans with respect to private equity..
https://www.cityam.com/labour-considers-watering-down-plans-for-a-private-equity [Post edited 9 Feb 18:38]
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Labour should attainder the wealth of the last five prime ministers as a personal fine for their abysmal, corrupt, incompetent, self-interested and downright dishonest stewardship of the country. | |
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| We are all in this together part 29,293,094,848,598,606,056,049,290.7 on 22:29 - Feb 9 with 962 views | Nthsuffolkblue |
| We are all in this together part 29,293,094,848,598,606,056,049,290.7 on 17:32 - Feb 9 by factual_blue |
Yes, but if you tax people like him heavily, they'll quit the country. |
I have never seen the argument put so positively ever before. |  |
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| We are all in this together part 29,293,094,848,598,606,056,049,290.7 on 22:50 - Feb 9 with 938 views | Swansea_Blue |
I can’t quite work out why the guy who made £1.8 million gains on investment funds in just one year backtracked on plans to increase capital gains tax. Or why he voted to cut the top rate of CGT in 2016. It’s a mystery. |  |
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| We are all in this together part 29293094848598606056049290 on 23:29 - Feb 9 with 861 views | Swansea_Blue |
| We are all in this together part 29293094848598606056049290 on 17:25 - Feb 9 by matteoblue |
Damn those high tax payers. A drain on society. |
I'm continually amazed at how they persuade people who've they've got nothing in common with to defend them (I'm assuming you're not a multi-millionaire benefitting from the various tax loopholes, but could be wrong). I can actually benefit from some of these thresholds, but still think it's obscenely wrong and that low income earners should be much better supported.
Why on earth should those with more money benefit from lower tax rates just because the total amounts paid are larger? It makes no sense. Quite the opposite - the actual monetary amounts are far more valuable to the lower earners. Paying an extra £300k a year in tax to Sunak makes no difference to him, whereas earning an extra £3,000 a year would transform the life of someone on the breadline.
It's about time we tried to stop people having to chose between eating or keeping warm in one of the largest global economies. I feel sorry for anyone who supports the widening wealth gap if they're not one of the super rich (for most of them I just have contempt). | |
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| We are all in this together part 29293094848598606056049290 on 08:20 - Feb 10 with 757 views | iamatractorboy |
| We are all in this together part 29293094848598606056049290 on 23:29 - Feb 9 by Swansea_Blue |
I'm continually amazed at how they persuade people who've they've got nothing in common with to defend them (I'm assuming you're not a multi-millionaire benefitting from the various tax loopholes, but could be wrong). I can actually benefit from some of these thresholds, but still think it's obscenely wrong and that low income earners should be much better supported.
Why on earth should those with more money benefit from lower tax rates just because the total amounts paid are larger? It makes no sense. Quite the opposite - the actual monetary amounts are far more valuable to the lower earners. Paying an extra £300k a year in tax to Sunak makes no difference to him, whereas earning an extra £3,000 a year would transform the life of someone on the breadline.
It's about time we tried to stop people having to chose between eating or keeping warm in one of the largest global economies. I feel sorry for anyone who supports the widening wealth gap if they're not one of the super rich (for most of them I just have contempt). |
I could not agree more with this post. |  | | |
| We are all in this together part 29293094848598606056049290 on 09:46 - Feb 10 with 700 views | GlasgowBlue |
| We are all in this together part 29293094848598606056049290 on 23:29 - Feb 9 by Swansea_Blue |
I'm continually amazed at how they persuade people who've they've got nothing in common with to defend them (I'm assuming you're not a multi-millionaire benefitting from the various tax loopholes, but could be wrong). I can actually benefit from some of these thresholds, but still think it's obscenely wrong and that low income earners should be much better supported.
Why on earth should those with more money benefit from lower tax rates just because the total amounts paid are larger? It makes no sense. Quite the opposite - the actual monetary amounts are far more valuable to the lower earners. Paying an extra £300k a year in tax to Sunak makes no difference to him, whereas earning an extra £3,000 a year would transform the life of someone on the breadline.
It's about time we tried to stop people having to chose between eating or keeping warm in one of the largest global economies. I feel sorry for anyone who supports the widening wealth gap if they're not one of the super rich (for most of them I just have contempt). |
He hasn't benefited from various tax loopholes though. Most of that £2.3m income is in the form of capital gains, and we tax capital gains on shares at only 20%.
One of Gordon Brown's big mistakes was to undo Nigel Lawson's 1988 reform which brought the taxation of capital gains into line with income. |  |
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| We are all in this together part 29293094848598606056049290 on 10:06 - Feb 10 with 679 views | Pinewoodblue |
| We are all in this together part 29293094848598606056049290 on 09:46 - Feb 10 by GlasgowBlue |
He hasn't benefited from various tax loopholes though. Most of that £2.3m income is in the form of capital gains, and we tax capital gains on shares at only 20%.
One of Gordon Brown's big mistakes was to undo Nigel Lawson's 1988 reform which brought the taxation of capital gains into line with income. |
Since the CGT was paid on ‘earnings’ from US based investments presumably he hasn’t been investing in a fund set up to boost U.K. economy. |  |
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| We are all in this together part 29293094848598606056049290 on 10:10 - Feb 10 with 672 views | DanTheMan |
| We are all in this together part 29293094848598606056049290 on 09:46 - Feb 10 by GlasgowBlue |
He hasn't benefited from various tax loopholes though. Most of that £2.3m income is in the form of capital gains, and we tax capital gains on shares at only 20%.
One of Gordon Brown's big mistakes was to undo Nigel Lawson's 1988 reform which brought the taxation of capital gains into line with income. |
It should be brought back in line, it's an absurd situation as it is. | |
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| We are all in this together part 29293094848598606056049290 on 10:11 - Feb 10 with 672 views | Herbivore |
| We are all in this together part 29293094848598606056049290 on 23:29 - Feb 9 by Swansea_Blue |
I'm continually amazed at how they persuade people who've they've got nothing in common with to defend them (I'm assuming you're not a multi-millionaire benefitting from the various tax loopholes, but could be wrong). I can actually benefit from some of these thresholds, but still think it's obscenely wrong and that low income earners should be much better supported.
Why on earth should those with more money benefit from lower tax rates just because the total amounts paid are larger? It makes no sense. Quite the opposite - the actual monetary amounts are far more valuable to the lower earners. Paying an extra £300k a year in tax to Sunak makes no difference to him, whereas earning an extra £3,000 a year would transform the life of someone on the breadline.
It's about time we tried to stop people having to chose between eating or keeping warm in one of the largest global economies. I feel sorry for anyone who supports the widening wealth gap if they're not one of the super rich (for most of them I just have contempt). |
I think you're forgetting the fact that rich people are rich because they work hard and create wealth for the country. Poor people are poor because they are lazy and feckless. The good thing about capitalism is that everyone gets the rewards they deserve. Why should those who work hard to better themselves be punished so the idle can be kept in vodka and cigarettes? |  |
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| We are all in this together part 29293094848598606056049290 on 10:20 - Feb 10 with 661 views | SuperKieranMcKenna |
| We are all in this together part 29293094848598606056049290 on 10:10 - Feb 10 by DanTheMan |
It should be brought back in line, it's an absurd situation as it is. |
And this is why I always say that the constant obsession of both parties of people earning 80-100k is fiddling around the edges. It’s a handful of people and raising it, or dropping it ~5pc is p1ssing in the wind. All a distraction from talking about fairly taxing actual wealthy people with assets fairly.
As others have noted it’s not income as a result of graft or entrepreneurship, but investment income. And you have to be wealthy in the first place to have that level of investment returns. I can only assume labour steer clear of the subject because the media will paint it as Starmer coming for the 5k you have in a ftse tracker ISA. | | | |
| We are all in this together part 29,293,094,848,598,606,056,049,290.7 on 10:24 - Feb 10 with 654 views | TractorWood |
Agree with lots on here. Need to be careful of laffer curve obvs but fundamentally balance between capital and income leads to lots of tail wagging dog tax planning.
Ie everyone at moment is bed and isa'ing their investments as CGT exemption and dividend allowances are being slashed but rates after exemptions are being held steady far below higher income tax rates.
Tax burden on income is huge, plus interest rates, plus housing market and fiscal drag means people who would have previously done really well are starting to struggle to pay their ever expanding bills from diminishing real terms pay.
Upatowen. |  |
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