Should the Rich Pay More Tax?
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Should the wealthy pay higher taxes?
The Green Party proposes raising National Insurance for those earning over £50,270. What's your opinion?
Well a good start would be getting the super rich to pay the actual tax that they owe. There’s all this talk of raising taxes for the wealthy but it wouldn’t be as necessary if they just closed the loop holes that people abuse.
They never follow it through. The rich threaten to leave the country and they back down. Let them bloody leave. It’s all a bluff.
£50,270 isn’t “rich”. After existing tax and NI, that’s probably equal to current benefits available.
Close all the loop holes, make the likes of the duke of Northumberland pay inheritance tax, or abolish it for everyone, make Amazon, Starbucks etc pay the tax that small companies pay,, there’s a book called the Panama Papers and it’s a real eye opener the amount that the greedy keep, it brought down the Icelandic government, up the super rich paid their taxes all ours would drop.
Yes, yes, yes. They can all afford to buy or get a mortgage for million-pound houses so why shouldn't they be tax more?
In Scotland you already pay more tax on earnings over 50k, add in National insurance and pension you lose about 45% of your earnings. 50k isn't rich these days.
Why not, majority try to avoid paying taxes by abroad bank accounts etc. some have been caught. Why shouldn’t they pay higher tax it’s pennies to them whilst every penny counts to others less well off.
That will hit all members of parliament as they earn more than that. Oh well they can just claim something on expenses.
I'm all for raising taxes on the rich but it won't solve any real problems in itself. We need to return to a trading surplus and pay off our debts. Sorting the economy out so its more balanced should be the priority. Sales tax would be a much better approach as you could focus on making the imported products that do most damage to the economy more expensive like cars and foreign holidays so people buy them less frequently and by increasing the tax there it actually has a positive effect on our trading deficit. There is a chronic shortage of housing stock for people so raising taxes on larger properties is also a good way of getting in more tax while also helping the housing shortage by making larger homes more expensive to own putting pressure on builders to make smaller homes or re-develop existing properties into multiple homes rather than single homes.
Well if they paid the proper tax like everyone else there wouldn't be a problem, we all know they don't pay what they should
The super rich should 100% definitely pay a lot more tax. No one can spend the amounts of money these people in their life time. I think it should be made illegal for any person to do any work for them unless their tax has been paid in full. I would love to see how far they got without others waiting on them hand and foot lol
I don’t think £50k is rich. Maybe an unpopular opinion but if they work hard for it why should they be penalised with extra tax
Most definitely. They need to stop the loop holes for money going to tax havens. The government won't especially the tories because they put their money Offshore themselves
How about they pay the taxes they owe first before raising them. Too many loopholes to avoid taxes.
SilverSurfer I agree in principle but these so called tax loopholes are just internationally recognised ways of moving your tax base to another country. So many rich people will base their taxes in a different country if cheaper. This might mean they can only visit their own country less frequently like a tourist but if they are determined to pay less tax then they can do it. Companies like Amazon, ebay etc have their tax base outside the UK like Luxembourg etc where they pay less or no tax here despite a significant amount of their earnings coming from the UK. The way you get around this is you have trade tariffs so companies based outside the UK pay tariffs to ship into the UK but unfortunately we have a free trade agreement with Europe which prevents that and we also have a huge trading deficit with Europe. It would be in our interests to have trade tariffs with Europe in order to reduce our trade deficit and force more companies to have a financial base in the UK but governments seem obsessed with free trade even when its hugely damaging and we have a huge trade deficit leading to huge debts.
Getting more tax out of the rich is extremely difficult as unlike low income and middle income people they can move their tax base. Sometimes a tax increase means less tax is payed here. It's just one of those annoying things that rich people can get out of paying tax through completely legal ways. The press describe them as loopholes which makes it sound like this is illegal somehow. However if someone bases themselves in a completely different country so they don't pay tax here I can't see how that can be changed. I don't expect to have to pay tax to the USA or Germany as someone based in the UK and the UK government can't tax people based in different countries in the world. So when politicians say they are going to close tax loopholes to pay for something in their manifesto its normally just a complete con that will never work and both Labour and Conservatives have sold this to more naive voters.
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