Osborne planning on cutting the 50p tax rate

[Joker]

http://www.google.com/hostednews/ukpress/article/ALeqM5j9Mu3hXSuPj-gYL3l-FWYiJwB72A?docId=N1138511331857201931A

A fine example of how "we're all in this together" :rolleyes:

Of course, the Tories will come out with all sorts of "supply side economics" BS to justify this policy, but it's all nonsense. There's a dearth of investment opportunities in the economy at the moment, and cutting the top rate of tax isn't going to change that. It'll simply be another freebee for the rich.

[Coney]

As usual with the Tories, the verbals have claimed how they are fair and so forth, but the tax burden for the poor has increased and for the rich decreased already since they came to power. (And if people haven't spotted that, it is the stealth tax methodology of the Tories again - the more ironic because they always accused Labour of stealth taxes even though they were known and obvious.)

People should read Aesop's fables.

The Scorpion and the Frog

A scorpion and a frog meet on the bank of a stream and the
scorpion asks the frog to carry him across on its back. The
frog asks, "How do I know you won't sting me?" The scorpion
says, "Because if I do, I will die too."

The frog is satisfied, and they set out, but in midstream,
the scorpion stings the frog. The frog feels the onset of
paralysis and starts to sink, knowing they both will drown,
but has just enough time to gasp "Why?"

Replies the scorpion: "Its my nature..."


The fact is, the fundamental philosophy of the Tories is unchanged in countless decades and is based on the survival of the fitest - the law of the jungle - and the rest can just die. They don't give a toss. I'm not saying the other parties are innocent or don't have a large amount of room for improvement, but the basic underlying ideology of the Tories is what disgusts me about them.

[Niall_Quinn]

Sorry, but the "rich" pay the lion's share of the tax anyway. How is it a freebie if they still have to pay more than the average punter?

Two types of "rich", those who do well through effort and deserve what they earn. 50% is a ridiculous amount for a government to take from any citizen. How can it possibly be justified?

The other type of "rich" is the super wealthy who don't pay tax anyway and run the government. If you are after these bastards then I'm with you. Not to grab 50% of their "earnings" (they actually steal their wealth and have probably never done a days work in their miserable lives) so I'd make the tax on these ****s 100% plus seizure of all assets and a jail sentence on top. That's fair considering what they do and what they have done.

But don't be roped into the silly argument that anyone who gets ahead in life should immediately be penalized or somehow owes something to this rotten state. They don't.

[bignev]

Sorry, but the "rich" pay the lion's share of the tax anyway. How is it a freebie if they still have to pay more than the average punter?

Two types of "rich", those who do well through effort and deserve what they earn. 50% is a ridiculous amount for a government to take from any citizen. How can it possibly be justified?

The other type of "rich" is the super wealthy who don't pay tax anyway and run the government. If you are after these bastards then I'm with you. Not to grab 50% of their "earnings" (they actually steal their wealth and have probably never done a days work in their miserable lives) so I'd make the tax on these ****s 100% plus seizure of all assets and a jail sentence on top. That's fair considering what they do and what they have done.

But don't be roped into the silly argument that anyone who gets ahead in life should immediately be penalized or somehow owes something to this rotten state. They don't.

:clap:

[LDG]

Sorry, but the "rich" pay the lion's share of the tax anyway. How is it a freebie if they still have to pay more than the average punter?

Two types of "rich", those who do well through effort and deserve what they earn. 50% is a ridiculous amount for a government to take from any citizen. How can it possibly be justified?

The other type of "rich" is the super wealthy who don't pay tax anyway and run the government. If you are after these bastards then I'm with you. Not to grab 50% of their "earnings" (they actually steal their wealth and have probably never done a days work in their miserable lives) so I'd make the tax on these ****s 100% plus seizure of all assets and a jail sentence on top. That's fair considering what they do and what they have done.

But don't be roped into the silly argument that anyone who gets ahead in life should immediately be penalized or somehow owes something to this rotten state. They don't.

Spot fucking on.

[Xhaka Can’t]

I don't agree with the 50p tax rate. Many who fall within this bracket, in particular the super rich probably avoid paying anyway. We need to crack down on the avoidance in such a way that these people are publically held in the same esteem and tackled in the same way as chavvy benefit cheats, rather than have deals done with them.

That said, right now we need all the revenue we can waste so now is the wrong time to consider axing this rate, though I think it should be a medium term objective.

[Alan B'stard]

why does anyone think 50% is the end of it. you pay 10% national insurance, which is nothing o the sort. its just a second direct income tax.
And when you spend any of whats left, you pay VAT.

The government takes far more than 50% on those top level earnings. And it takes plenty from lower income people too.

[LDG]

I don't agree with the 50p tax rate. Many who fall within this bracket, in particular the super rich probably avoid paying anyway. We need to crack down on the avoidance in such a way that these people are publically held in the same esteem and tackled in the same way as chavvy benefit cheats, rather than have deals done with them.

That said, right now we need all the revenue we can waste so now is the wrong time to consider axing this rate, though I think it should be a medium term objective.

Personal circumstance really plays a part too. I know somebody on 80k, who has 4 kids, and a divorce, + new wife. He's a ****, so he deserves it, but still...shotloads goes to his ex, and the kid they had, plus everything else he pays for for the new family. He can't afford a beer FFS.

[bignev]

why does anyone think 50% is the end of it. you pay 10% national insurance, which is nothing o the sort. its just a second direct income tax.
And when you spend any of whats left, you pay VAT.

The government takes far more than 50% on those top level earnings. And it takes plenty from lower income people too.

What does annoy me is that you get taxed when you earn money, then when you save it and then when you die your family gets taxed on it.

Seriously that is disgusting.

[Letters]

What does annoy me is that you get taxed when you earn money, then when you save it and then when you die your family gets taxed on it.

Seriously that is disgusting.

:gp: They do tax you at every sodding opportunity. Just take as much as you need from my salary in Income tax and then leave me the hell alone after that. :angry:

[Syn]

At the massive risk of sounding like a massive dick, I don't think people realise how much thought goes into these decisions these days. Yes the party in power had political objectives but especially when it comes to fiscal and monetary issues, the guys who come up with all the answers are independent academics. If they announce a lowering of the highest tax bracket, I'm inclined to believe they have a very good case for doing so unrelated to political support.

[Letters]

At the massive risk of sounding like a massive dick

Never stopped you before. lol. jk.

[Syn]

Classic Larry.

[LDG]

:lol:

[Niall_Quinn]

I don't agree with the 50p tax rate. Many who fall within this bracket, in particular the super rich probably avoid paying anyway. We need to crack down on the avoidance in such a way that these people are publically held in the same esteem and tackled in the same way as chavvy benefit cheats, rather than have deals done with them.

That said, right now we need all the revenue we can waste so now is the wrong time to consider axing this rate, though I think it should be a medium term objective.

We should be axing the fucking government. With axes. Fucking beggars and gamblers, how much of this tax goes on interest repayments to ****s who don't pay tax, btw? It's a scam, the whole thing from top to bottom. People have accepted this massive fraud for so long it's just taken as normality now but it's far from fucking normal. Time for people to wake up. I mean how much shit are people prepared to take before they stand up for themselves?

One idea to save money is not to loan our "defence" forces to the oil and gas companies at the taxpayer's expense. Or how about saving most of the costs of running this economy by ending the central banking cartels and their counterfeiting/ laundering/ compound interest/ debt racket? Lots of thinks could be done to instantly improve every citizen's wealth and well being but the government doesn't have the will to do it. That's because their will is the will of the greedy fuckers who run the economy for their own personal benefit. Conservative, Labour, Yellow Conservative, doesn't matter. They all dance when they get into "power".

You work your arse off and these ****s come along and take 50% (for starters as somebody else pointed out). Think about that FFS! It's batshit insane. Who the fuck gave these ****s the right to steal from the people they are supposed to represent?

Oh wait, we did. What a bunch of stupid ****s we are.

[Letters]

You work your arse off

Clearly

##

[LDG]

And another thing!!!! Why do domino's pizza promotions always work out the same money regardless!! If you take one up, you always end up paying 19 quid! (no homo)

[Rors]

It is worth bearing in mind that is it was actually 60% under that well-known Commie flag-waver Margaret Thatcher, until Lawson's famous 'Pinstripe Budget' of 1988.

One thing I am looking forward to is seeing which one of the Mansion or Tycoon Taxes the Lib Dems will get . (Clue Neither)

---

I also take issue with the fact that Wayne Rooney is in some way being "punished" for "working his arse off" by being taxed at 50%. At least nobody here has suggested the 30% flat tax - the Laffer-ughable Curve has been proven not to work!

[Joker]

Yeah the Laffer Curve argument that right wing lobby groups like the TPA come out with is embarrassing. There is ZERO evidence that we are above the tax-rate that maximises revenue, yet they keep making this argument.

And just because someone has "earned" his money doesn't mean he hasn't had many advantages in life (i.e. a private education, rich parents who could open doors for them, etc) Social mobility in this country is low, and the fantasy of the "self made man" is exactly that, a fantasy. We may not have a feudal system in this country, but our capitalist one is equally capable of maintaining intergenerational inequality.

Our welfare state is by European standards quite weak, the Gini Coefficient which measures income inequality is high, and yet the first thing that the Tories want to concentrate on his cutting the 50p tax rate :lol:

[Niall_Quinn]

the fantasy of the "self made man" is exactly that, a fantasy

Good grief. Men are women, women are men, clever are dumb, dumb are clever, rich are poor, poor are rich, everybody's fucking equal and the whole world's fucking miserable. Communism is dead FFS! Not because that **** Ronald Reagan had anything to do with it, but because the people who had to live under it fucking hated it to the point of risking their lives to get rid of it. Think about that for a minute. What would it take for this pansy arse society to stand up? Yeah - THAT much! That's how fucking much people hated communism.

No, you are not welcome to put you hand in my pocket or tie a rope around my neck and ride me into town, if that's okay? I fucking hate the do-nothing privileged classes, I really do. But then I listen to the jealous, lazy, fucked up, bitter hand-out classes and it makes me yearn for the middle ground of global nuclear obliteration.

You make your own chances and your own luck in life and everything else is a fucking excuse.

[Coney]

why does anyone think 50% is the end of it. you pay 10% national insurance, which is nothing o the sort. its just a second direct income tax.
And when you spend any of whats left, you pay VAT.

The government takes far more than 50% on those top level earnings. And it takes plenty from lower income people too.

The NI is capped so if you earn a lot more, you can afford it.

The 50% rate is for people earning a shit load. They are not poverty stricken victims. The 50% rate applies to the fat excess they have way over even well off people's salaries. If people are so greedy that they whine about tax rates on their earnings in excess of £100,000 a year, 4 times the average salary, then I have no time for that crap.

The country needs to get income to run services - police, education, the aquaduct, etc. etc. and it has to come from somewhere. No matter how the government of any persuasion gets the money, there are always whiners - and the loudest whiners seem to be the ones who can best afford it. Fuck them, basically.

[Joker]

It's funny how it's always the carrot for the rich (i.e. trying to incentivise them to invest in this country by cutting the top rate of income/corporation tax) while for the unemployed, it's the stick approach by cutting unemployment benefits. Why not try to "make work pay" by looking at the demand side of the economy? Perhaps wages are too low due to firms with market power able to keep wages down, or weak trade unions, etc etc. However, if they were to focus on that, the Tories would have to ask questions about companies, and they'd never speak out against their class interest would they?

[Xhaka Can’t]

And another thing!!!! Why do domino's pizza promotions always work out the same money regardless!! If you take one up, you always end up paying 19 quid! (no homo)

You're too stupid to have money if you're wasting it on Domino's 'pizza'.

[Marc Overmars]

Domino's is horrid.

Pizza Express. :bow:

[GP]

pizza express sucks.

[Coney]

pizza express sucks.

Darn site better than Domino's. Domino's pizzas are very salty and have the American fetish for too much cheese - it is highly processed crap. Pizza Express is more like the real Italian style with a lighter base and toppings that actually taste like fairly fresh food.

[Alan B'stard]

It's funny how it's always the carrot for the rich (i.e. trying to incentivise them to invest in this country by cutting the top rate of income/corporation tax) while for the unemployed, it's the stick approach by cutting unemployment benefits. Why not try to "make work pay" by looking at the demand side of the economy? Perhaps wages are too low due to firms with market power able to keep wages down, or weak trade unions, etc etc. However, if they were to focus on that, the Tories would have to ask questions about companies, and they'd never speak out against their class interest would they?

the unemployed and low income don't vote tory.
those with enough to worry about higher rate taxes vote tory-maybe.

ergo hold out that carrot and win more votes. Not such a mystery really

[Dog Toffee]

Fuck the tories.

[Shaqiri Is Boss]

It would surely be political suicide for Gideon (who's a strategist at heart anyway) to cut the 50p rate, it's an open goal even Labour wouldn't miss... probably. Especially at the same time as the reports of cutting (effectively) public sector pay in the poorest areas. Even if it was a good policy their PR team would screw it up; they're as bad as ours.

One thing though; either it's raising too little (<£1bn instead of the intended £2.5b) or it is choking enterprise because it's taking too much away from them. Surely it can't be both?

[Olivier's xmas twist]

And another thing!!!! Why do domino's pizza promotions always work out the same money regardless!! If you take one up, you always end up paying 19 quid! (no homo)

Pizza Hut :bow:

[Cripps_orig]

Pizza Hut :bow:Pretty much

[KSE Comedy Club]

Pizza Hut :bow:Greasy and bland.

Papa johns :bow: