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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@9XCY2FVLiberal Democrat5mos5MO
Yes, but by retaining the existing tax structure and adding new bands for incomes exceeding 10 times the national minimum wage
@9TJ4FH7Liberal Democrat7mos7MO
Raise it for very wealthy and reform where the brackets hit, tax avoidance by very wealthy and corporate should be tightened like for paye earners
@9QGBR2WLiberal Democrat9mos9MO
Define what is rich? I believe that working class people should keep more of there income as this will give working class people money to actually spend. the 40% bracket needs to be raised to £6000.
@9QDKVPNLiberal Democrat9mos9MO
Yes, but more on the super rich, not those who are just living a comfortable life. Those that live without worrying about money.
@9QDC2XVLiberal Democrat9mos9MO
Close loopholes, and introduce taxes against hoarding wealth rather than increasing taxes targeting PAYE earners
@9Q7C2WNLiberal Democrat9mos9MO
Tax shareholders and debt brackets because the rich don't have incomes like the middle class. And implement a progressive tax bracket.
@9Q3Y74WLiberal Democrat9mos9MO
Government should in the long term lower tax once public services are functioning. In the short term however we should introduce a tax flat of 1% on any earning of £250k or over
@9Q2JGW6Libertarian9mos9MO
It depends on how you define "rich"? I would say a salary > £250k should attract greater tax and NO ONE should be able to earn above this without tax automatically going to 100% above that threshold. The Economy is called "economy" for a reason: it is finite and we ALL depend upon it. Individuals and corporations that suck money away from the poor are disgusting examples and human beings and groups if like-minded individuals (i.e. corporations and their shareholders).
@9PHZQ7FLiberal Democrat9mos9MO
Add an optional tax for public services improvement but provide evidenced information of how thos is used
@9PFF7Y8Libertarian10mos10MO
Yes but by introducing a wealth tax for the super rich. Income tax should be lowered across the board.
@9NW39D7Liberal Democrat10mos10MO
Increase taxes and in turn invest more in public services and transport (making public transport cheaper for example
@9NJ6KBKLiberal Democrat10mos10MO
Only for the highest band and lower the middle bracket. To cover the cost of living people must be able to earn £50k + a year and not be penalised
@9NJ4H73Liberal Democrat10mos10MO
Increase tax on the rich, decrease tax on the poor, close loopholes and tax individuals who leave the country to tax havens for a decade to ensure that the money the produce comes back to the uk economy.
@9NFRGB4Liberal Democrat10mos10MO
The government should calibrate income tax to maximise Government revenue while not stifling growth and productivity.
@9N9WFHRLiberal Democrat10mos10MO
Yes for large corporations + anyone earning over £250,000 per year. No for anything else, or lower for everyone else.
@9MXVGRFLiberal Democrat10mos10MO
Add more for the very rich and stop squeezing the middle earners who are just into the 40% tax bracket.
@9MW5Y5PLibertarian10mos10MO
Ban taxes because tax is theft. Rework the way the country runs economically to cope with the change.
@9M48T4ZLiberal Democrat11mos11MO
For people who have bettered themselves educationally and morally, i.e. surgeons- should NOT be taxed more than they already are. Whereas, the likes of celebrities, footballers etc. who have offshore accounts etc. SHOULD be taxed far more.
@9LLS3STLiberal Democrat12mos12MO
"Rich" is poorly defined. What is rich in one area of the country is not rich in another. Those in the top 1% income bracket (including inherited wealth and assets) should pay more.
Add an extra tax bracket and adjust the percentages and the salary thresholds so lower incomes pay less tax and the most rich pay more and also remove tax loopholes for businesses
@8XD6HP4Liberal Democrat3yrs3Y
Raise taxes on the rich but lower for Lower-middle and working classes
@8WGGRKPLibertarian3yrs3Y
Taxes shouldn’t exist as money should be abolished.
@8DYKF8FLiberal Democrat5yrs5Y
No, but rather add on a tax for large corporations and try to iron out any loopholes
@9PTCFYGLiberal Democrat9mos9MO
Everyone should pay the same % of tax . Anyone not paying ie 25% they should then be punished with prison if necessary. It’s obscene that single mums are paying more than billionaires!
@9PM25JZLiberal Democrat9mos9MO
Yes, taxes should be higher for individuals but not on companies as this could potentially drive businesses from the UK.
@9P5DQ8PLiberal Democrat10mos10MO
Yes, but not on middle income families. There should be more tax tiers with a higher tax rate starting higher but with more increments and a higher tax for those earning over 150k
Yes, but define rich correctly. Increase tax on the wealthy, generational wealth, owners of acres of land, multi-generational businesses etc. Don't increase tax on new talent because it will restrict true economic growth.
@9BKNB2HLiberal Democrat2yrs2Y
Raise taxes on the ultra rich.
@948C72CLiberal Democrat3yrs3Y
People should be encouraged to seek employment which fulfil personal goals and potential. Taxation at the personal level for those who excel should not become a disincentive to achievement (Doctors and Teachers for example should earn a wage well above average as reward for years of study and the responsibility they hold once qualified). Instead we should tax Corporations more heavily to raise more income and perhaps introduce a specific tax on profit in return for trading in the UK
@93SFSMTLiberal Democrat3yrs3Y
Tax percentage for highest bracket should be higher but the bracket boundaries should be much higher (increase upper class, lower middle)
@93RLCYMLibertarian3yrs3Y
Take government out of this
@93N7GPVLiberal Democrat3yrs3Y
No, nut they should tax big companies
@932PFCDLiberal Democrat3yrs3Y
Increase tax on the super rich by taxing income generating assets
@92W9PNFLiberal Democrat3yrs3Y
Complete overhaul, lower deduction taxation overall but increase duties elsewhere
@92RPLSSLiberal Democrat3yrs3Y
Lower taxes for the poor, fair taxes for the rich but close tax loopholes and clamp down on avoidance schemes, plus stop letting corporations away with paying so little
@92PLS2NLiberal Democrat3yrs3Y
For those who can be considered to be super rich - no your standard worker but ceos etc
@924RWR2Liberal Democrat3yrs3Y
Keep current tax brackets. But harsher punishements for tax avoidance.
@8ZZ7KSXLibertarian3yrs3Y
Negative Income Tax. (Flat tax with Large exception for lower-income individuals)
@8ZY2V99Liberal Democrat3yrs3Y
Make everyone pay a percentage of what they earn, an equal percentage
@8ZQCTZLLiberal Democrat3yrs3Y
No, but make tax loopholes less accessible
@8ZNDWCYLiberal Democrat3yrs3Y
Remove large corporation loopholes and tax the large corporation and earners in relevance with their earnings
@8Z7HCG7Liberal Democrat3yrs3Y
Reduce the rate of income tax for those earning £40,000 and apply another bracket at those earning £80,000 or more
@8Z2BJ3MLiberal Democrat3yrs3Y
Reduce the tax for the poor and increase for the wealthy
@8XY8SFTLiberal Democrat3yrs3Y
No, Lower tax on poor. Legalise marajauna and tax the sale as a well as crypto markets
@8XXY7F9Liberal Democrat3yrs3Y
Yes but lower them for the poor.
@8XMRRJ2Liberal Democrat3yrs3Y
Reduce the Rich’s ability to avoid taxes
@8X7GK65Liberal Democrat3yrs3Y
tax should be a flat percentage of income regardless of bracket
@8W5F5FSLiberal Democrat4yrs4Y
It would make sense to raise taxes for the rich, but I think it is more efficient to lower taxes for the poor.
@8VSWZFTLibertarian4yrs4Y
I don't think the rates are important. I think just need to close loopholes.
@8TWTSZYLiberal Democrat4yrs4Y
Lower corporate taxes (to encourage business in the UK), remove all tax loopholes (to insist all companies, including religious organisations pay tax) and lower income tax for the poor (to promote equality).
@8TSK9MKLiberal Democrat4yrs4Y
No but outlaw typically tax evasion strategies.
@8TN54XYLiberal Democrat4yrs4Y
No, have more specific tax brackets
@8SNZXKXLiberal Democrat4yrs4Y
Tax the extreme wealthier people more. Those that have multiple properties, assets exceeding £1,000,000. Middle class workers who earn between £30k and £100k should not be taxed more.
@8SNNZ4ZLiberal Democrat4yrs4Y
Progressive amtax system based on income
@8SMWP7GLiberal Democrat4yrs4Y
Yes, above a certain income
@8SJHQSTLibertarian4yrs4Y
Movement towards voluntary taxation.
@8SD58PSLiberal Democrat4yrs4Y
Yes but only for those earning ridiculously high wages - 200k+
@8SC3SW5Liberal Democrat4yrs4Y
Lower taxes for the poor and raise them for the rich.
@8SBDS86Liberal Democrat4yrs4Y
Yes but increase personal allowance for those earning less than living wage
@8S93Y2NLiberal Democrat4yrs4Y
Introduce new Wealth taxes
@8S44YH9Liberal Democrat4yrs4Y
Income tax on lower earners should be reduced, tax on very high earners could perhaps be increased by use of additional brackets above the current highest. Alternately, taxes on all work related income could be reduced and tax on capital gains and other passive income (such as rental income) increased (with a provision that once a person has retired their tax rate on passive income is reduced.) Such rates could also follow a tiered system like income tax instead of being a flat tax.
@8S2RNVXLiberal Democrat4yrs4Y
Taxation should be on a sliding scale, the more you earn over a certain amount ,tax should go up in increments, eg anything over £52,000 per annum + another 5% on standard rate & 1% for every £10,000 over £52,000
@8RW9H62Liberal Democrat4yrs4Y
Yes, providing this is not limited to those on PAYE. Tax evasion and excessive tax avoidance should be more assertively managed.
@8RW5MRWLiberal Democrat4yrs4Y
Raise income tax above several million or raise capital gains tax above a several million. Resist tax raises for low mid income direct or indirect
@8QNJZH2Libertarian4yrs4Y
No, taxation is government-mandated robbery and therefore unethical.
@8QNJZH2Libertarian4yrs4Y
No, taxation is government-mandated strongarm robbery
@8PW3XXYLiberal Democrat4yrs4Y
The rich should not be taxed more, but the super-rich should be. For example, Jeff Bezos should be taxed more than Chris Evans. However, it does beg the question, at which point do we draw the line?
@8JMW7RJLibertarian4yrs4Y
abolish taxes completely.
@8DSMZK2Liberal Democrat5yrs5Y
Yes, but not for people in health care
@9CHKZP3Liberal Democrat2yrs2Y
Yes but to a very little extent
@9C3RM82Liberal Democrat2yrs2Y
Yes. Rich meaning people earning >£200k pa
@9C3CKM3Liberal Democrat2yrs2Y
Raise for those earning over £100,000
@9BTJW4S2yrs2Y
Abolish the income tax and abolish the cooperation tax, replacing them with a lottery and/or voluntary contributions.
@9BJ2B2YLiberal Democrat2yrs2Y
I would need to do more research on this.
@9BF6D57Libertarian2yrs2Y
cut income tax and raise IHT
@9B3RM4NLiberal Democrat2yrs2Y
Close corporate loopholes and increase top tax brackets.
@99VKLN8Libertarian2yrs2Y
only those with a net worth above 1 million
@99QTVDTLiberal Democrat2yrs2Y
Leave bands roughly same but remove jumps from 20% to 40% and from 40% to 60%.
@99DK2BCLibertarian2yrs2Y
Yes, And Lower Taxes On The Poor
@98RKDPGLibertarian2yrs2Y
Only if they are millionaires/billionaires
@98QSXXYLiberal Democrat2yrs2Y
Make sure people don’t avoid tax
@98Q88NBLiberal Democrat2yrs2Y
decrease the taxes for everyone
@98P2PZDLiberal Democrat2yrs2Y
Revise tax on Equity and Property income
@98GG2ZHLiberal Democrat2yrs2Y
Establish a land value tax
@97Q5BVGLiberal Democrat2yrs2Y
Yes - through taxing passive income such as capital gains tax and withholding tax on dividend
@96ZFRHDLibertarian2yrs2Y
Land value tax+carbon tax
@96RY3M3Liberal Democrat2yrs2Y
No but increase enforcement of corporation tax
@96R9QC7Liberal Democrat2yrs2Y
Tax should be based on the individual persons’ earnings.
@93XVJL8Liberal Democrat3yrs3Y
I believe we should adopt the Swedish model for Taxes
@93BLWT7Libertarian3yrs3Y
Yes at a fair percentage, but lower tax significantly got the poor
@8SB2ZTSLibertarian4yrs4Y
deregulate the market and laws and vat the hell out of drugs, guns and prostitution.
@8NRYFLFLiberal Democrat4yrs4Y
Instead of changing the taxes perhaps we increase the amount of employment and the minimum wage
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