I hated Thatcher, and I still do
But it's worth noting that when she took the top rate of tax from 83% to 40%, tax revenues *went up*.
It's facile to argue that "the top 1% should pay X% tax because they're all c**ts". But the reality is that the top few percent pay a large chunk of the overall tax bill; my personal view is that 45% is a smart number, because with NICs it's 47% and that's less than half, which people can stomach.
The people I know who pay top rate tax - and there are several - are mostly self-made rich people who had an idea, started a business, created jobs, and did well. To a woman and man they are committed to the NHS and Education and so on and not one of them is averse to paying their share. But if that share becomes "more than half over a certain amount" it feels wrong to them. I don't think any of my actual friends do, but I can quite see why people might think about calling in clever accountants at that stage.
So I think the 50% rate is silly - it looks good to those "lower down" but in reality it collects *less* than a rate like 45% does. It depends on whether you actually want to fund health, education and so on; or merely punish people for being successful, I guess.
I'm still not sure how I'm voting on May 7th, incidentally. It won't be UKIP or the Greens but all other options remain open.
Posted By: Old Man on April 7th 2015 at 19:57:34
Message Thread
- How many times can you dodge a simple question? (General Chat) - pants, Apr 7, 19:06:08
- They all do it TBF (n/m) (General Chat) - Brandonio, Apr 7, 20:32:20
- Listening to Theresa May on Stephen Nolan show Saturday evening... being asked about the (General Chat) - Pixelman, Apr 7, 19:53:35
- Honestly, I can see why they're not answering (General Chat) - Old Man, Apr 7, 19:42:17
- Absolutely. (General Chat) - avenging canary, Apr 7, 19:45:58
- I hated Thatcher, and I still do (General Chat) - Old Man, Apr 7, 19:57:34
- It's not the rate. (General Chat) - avenging canary, Apr 7, 20:01:59
- Yeah, that's fair comment (General Chat) - Old Man, Apr 7, 20:05:32
- It's not my field of expertise. (General Chat) - avenging canary, Apr 7, 20:22:15
- Yeah, that's fair comment (General Chat) - Old Man, Apr 7, 20:05:32
- It's not the rate. (General Chat) - avenging canary, Apr 7, 20:01:59
- Integrity... Bloody hell... (n/m) (General Chat) - avenging canary, Apr 7, 19:57:28
- I hated Thatcher, and I still do (General Chat) - Old Man, Apr 7, 19:57:34
- Absolutely. (General Chat) - avenging canary, Apr 7, 19:45:58
- 9 (n/m) (General Chat) - Ralf Scrampton, Apr 7, 19:38:52
- You mean like Tony Blair and those pesky WMDs?? (n/m) (General Chat) - lcc, Apr 7, 19:34:03
- yes, that makes it ok. (General Chat) - Worzel Scrimmage, Apr 7, 19:58:10
- Politician dodges question shocker... (General Chat) - phrankin, Apr 7, 19:28:44
- I watched Teresa May this morning. (General Chat) - avenging canary, Apr 7, 19:12:30
- The bongo actress? (n/m) (General Chat) - Huge Small, Apr 7, 19:33:54
- Yes. (General Chat) - avenging canary, Apr 7, 19:35:10
- Fistal policies (n/m) (General Chat) - norway, Apr 7, 19:38:52
- Yes. (General Chat) - avenging canary, Apr 7, 19:35:10
- Theresa even... (n/m) (General Chat) - avenging canary, Apr 7, 19:15:23
- The bongo actress? (n/m) (General Chat) - Huge Small, Apr 7, 19:33:54
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