Should the U.K. raise taxes on the rich?
The top tax rate in the UK is 45%. For the 2022/23 tax year, if you live in England, Wales or Northern Ireland, there are three marginal income tax bands – the 20% basic rate, the 40% higher rate and the 45% additional rate. Marginal bands mean you only pay the specified tax rate on that portion of salary. For example, if your salary puts you in the 40% tax bracket, then you only pay 40% tax on the segment of earnings in that income tax band. For the lower part of your earnings, you’ll still pay the appropriate 20% or 0%. If you live in Scotland, there are five marginal income tax bands – the starter rate of 19%, the 20% basic rate, the 21% intermediate rate, the 41% higher rate and the 46% additional rate.
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@9QPHMTR9mos9MO
It’s not black and white, make paying fair tax easier is, I believe, the way to gain more revenue from the wealthy. Note: wealthy and rich is different
@9Q9SRNQ9mos9MO
Yes, but to corporations primarily, just raising rich individuals will not do much as they will just either get out of it or move.
@9Q8ZRJ59mos9MO
Remove corporate loop holes Lower tax burden on low income families Increase tax on earning +150k net
@8FLSS8J5yrs5Y
Yes but only for those who do not work for their income. Taxes should be fined according to ones income but also taking into account other factors (e.g. family maintenance or hours of work etc)
@9M98LKP 11mos11MO
Yes. The UK needs fundamental tax reform. There needs to be a logarithmic tax model and more focus on regional taxes, Point of Sale taxes for corporations and additional capital gains taxes. Having second homes should draw significantly higher taxes and there should be an approach to even out wealth inequality between those who own and those who rent.
@9FJBXR42yrs2Y
Taxes should be payed based on percentage of income
@953JD5R3yrs3Y
Stop tax aviation and raise taxes on the rich
@93YKBJG3yrs3Y
Yes, but for very rich corporations
@93RCMCTAnimal Welfare3yrs3Y
High tax for the top 10%
@93P365M3yrs3Y
Yes, but only for those earning over £1m
@92LQC7W3yrs3Y
Lower taxes up to £100,000 per year and increase taxes on the mega rich. Lower corporation tax but close corporation tax loopholes.
@8YS62W43yrs3Y
Tax should be simpler and adapted to address economic changes
Yes, and also remove all existing tax loop holes for large corporations and scrutinise future taxation to have no loop holes to start with.
@8VH3D6P4yrs4Y
remove tax loopholes for rich and big corporations , raise taxes for rich and large companies , lower tax for poor
@8TL779X4yrs4Y
Crack down on rich tax evaders
@8TK5D4N4yrs4Y
Only on the very rich. Such as very large corporations, not just people earning above average.
@8TCRF6L4yrs4Y
Reduce the size of tax brackets and make more brackets
@8SMN5ST4yrs4Y
Yes, but only for the extremely rich earning £200,000 or more.
@8SHKVCGPlaid Cymru4yrs4Y
Yes. Raise income tax on high earners and remove all existing tax loopholes for large corporations.
@8SD58PSLiberal Democrat4yrs4Y
Yes but only for those earning ridiculously high wages - 200k+
@8RKCJC64yrs4Y
collect all tax and crack down on avoidance
@8QZQVW4Conservative4yrs4Y
Tax the richest but not middle class people more... super wealthy should pay more. Not the hard working bracket
@8QM486V4yrs4Y
Increase taxes for larger businesses but not individual workers
@8Q9ZCM44yrs4Y
No, it should focus more on corporate taxation.
@8Q6BL2Q4yrs4Y
Yes, but only for the top 0.1%, but heavily tax them
@8PTNDQJ4yrs4Y
To have a system where each wage is expected to contribute to particular parts of society, like a pocket for the public services, struggling restaurants and shops, charities, young people in care etc.
@8PS2QM94yrs4Y
Yes, if they earn over a certain amount
@8PRTM5N4yrs4Y
Raise taxes massively on corporations, a lot on the rich (top 1%), and a little on the upper class.
@8PM2Y4P4yrs4Y
Establish a Land Value Tax
@8PKHQWY4yrs4Y
Lower the income tax for the poor, raise it for the rich, and remove all existing loopholes for large corporations
@8PJB9RK4yrs4Y
They should be increased to a reasonable level but not too high, tax dodging businesses should be sought and fined double what they have avoided paying on top of what they owe
@8PF25GZ4yrs4Y
Increase tax for very high earning businesses and people that earn more than £120,000 they should reduce tax for £50,000 onwards to about £100,000
@8NSN9584yrs4Y
Force the billionaires that are hiding money to pay taxes and arrest them for the previous tax avoidance. Tax foreign websites like Google and Facebook.
@8M7S4GC4yrs4Y
I Think extra income tax can be paid voluntarily
@8M7FX9M4yrs4Y
No if earned Yes if inherited wealth
@8JHMVDW4yrs4Y
I dont have enough knowledge on the topic to give an opinion
@8J3TFWG4yrs4Y
No, keep taxes on corporations low and lower taxes on rich to ensure they're more likely to pay
@8J2H3TP4yrs4Y
No, but remove tax loopholes for the rich and for large corporations
@8HXDN3J4yrs4Y
Keep income tax structure the same, sew up loopholes
@8FFK8R45yrs5Y
Taxes should remain the same but tax loopholes should be removed and large corporations should be audited to make sure they are paying the correct tax
@8F2JMQJ5yrs5Y
yes but only on the very rich/wealthy
@Lilem5yrs5Y
As taxes need to be raised they need to be raised in all tax brackets as a reasonable rate. It is unfair to tax the poor as much as the wealthy but it is also unfair to overtax the wealthy for simply being wealthy.
@9CCYBVL2yrs2Y
yes but create a new tax division to tax the ultra rich more
No, abolish taxes or make them according to someone's income and what they can afford
@98HLTHN2yrs2Y
The amount of money a person posesses should have no bearing on the amount of tax they must pay
@9865J4R2yrs2Y
Raise taxes on the rich of society, and lower taxes for the poor. The way I see it, people lime Sunak have too much to be taxed a pound less than someone working a day job.
@97HR4HJ2yrs2Y
yes, and remove existing tax loopholes for larger corporations
@97B4PHB2yrs2Y
Yes but Change the tax brackets
@96QNYKB2yrs2Y
Yes and remove all existing tax loopholes across the board.
@8R6WX4W4yrs4Y
No but the tax bracket should change
@8Q3DMDK4yrs4Y
The uk should raise business tax and tax on extremely wealthy individuals. Rather than targeting the ‘wealthy’ individuals earning £100K per annum.
@4SNPK4B3yrs3Y
Yes, at time of writing I am fairly sure every country should raise taxes on the rich (of course, if I wasn’t fairly sure of that, this question would be impossible to reasonably answer given that I want my answers to make sense across different countries, since as far as I can tell this same question is being used for every country with the country name dynamically substituted, rather than using individual questions per country [for purposes of ongoingly testing this: I most recently saw this answer on the UK question, and have previously seen it on the France question])
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