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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@9NPKH8J10mos10MO
This can’t be answered without “the rich” being defined. If people with an annual income of over say £1,000,000 a year then definitely yes. But if it’s just increasing the tax amount for the current 40% or 45% tax bracket then no definitely not. I think there should be an additional bracket.
@99JH2SX2yrs2Y
no, but remove loop holes
@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
@9QQKKGQ9mos9MO
No and get rid of certain taxes like inheritance tax and income tax which it mainly being large corporations that should be taxed heavier.
@9QL7X2J9mos9MO
Remove all tax loopholes and find an appropriate tax level for the mega rich. We want them to stay here, but pay enough to contribute sufficiently to justify their place in society.
@9QCF5Z89mos9MO
Raise taxes on the wealthiest as they generally don’t pay enough back into the economy or are in charge of running the country so have no real clue how tough financially it is for the majority of low and medium income earners. Lower taxes on the low and medium incomes.
@9QB6FC29mos9MO
A tax that is added above a £25000 threshold or about one percent and rises for substantially larger incomes. This to be added and removed in times of economic difficulty
@9Q7RNH29mos9MO
Largely reduce the amount of things in day to day life that are taxed, but increase tax on the ultra rich by a small percentage.
If all the billionaires in each city helped there own city's poverty that would be a great help without the billionaires even feeling the pinch.
@9Q5QHCX9mos9MO
Yes, super wealth should be taxed more but not too much so they are discouraged to stay in UK. Better to close loop holes and improve the welfare system
Yes but they should be targeted but the uk should go to a full digital money system as this should stop a great deal if low level fraud too.
@9NT33TSConservative10mos10MO
Introduce a fairer tax system with more tax bands for different income brackets. E.g. Someone earning £60k per year should not be in the same tax band as someone earning £200k p.a.
@9NS79JR10mos10MO
Tax the rich as they would fit into their tax bracket, everyone earning over 12,000 a year should be taxed
@9N93PKL10mos10MO
Fairer tax system where higher earners payer a higher amount over x but tax includes both PAYE and NI
@9MRC28N10mos10MO
It is inevitable that everyone will need to pay more tax, regardless of rich or poor. However, there are a number of taxes and tax loopholes which need investigating and reforming. Council tax is a prime example of an archaic system which no longer applies to the current times and sees huge mansions being taxed the same as typical 4 bedroom detached houses.
@9M32FCD11mos11MO
No, but they should reform taxes on capped assets like housing. This would allow us to effectively tax wealth while not harming growth
@9LPZGSC 11mos11MO
decrease the taxes for everyone else in the UK, but definitely increase for the rich and upper class. then they can feel how we have felt this hole time.
@9LF2SMH12mos12MO
Tax the rich. Close the loopholes. And stop squeezing the rest of us. Capital tax down from 12500 to 3000?thsts nothing 12500 tax allowance still blocked for few more years? Only a pound increase on minimum wage. It's not enough!
@9L3LS961yr1Y
No, lower tax for everyone. No one wants it and no one knows where it goes apart from Rishi to play manoplay with it
@9D5NPS92yrs2Y
Why does 'tax the rich' always turn into persecuting small businesses and never punishing Large Corporations for corruption and greed?
@9D4CKK22yrs2Y
Tax according to income and close tax loopholes.
Yes, and owners of more profitable businesses must pay more business tax than less profitable businesses.
@9PSDFZ69mos9MO
If someone is living on minimum wages they should pay the least amount of tax compared to someone who earns a lot more and company should not be aloud the use loopholes to pay less taxes
I don't think it's clear who the government / candidates mean when they say 'the rich' I think the government needs to reform income tax and bring back join thresholds so one person may not have to work at a time and be comfortably supported. At the moment from my friends and age group (late 20s/30s) who are generally people who earn 40-60k none of us feel we can afford to live off one person's income comfortable to have children or a break from work, unlike our parents generation.
@9L4GQ5F1yr1Y
Yes and lower the taxes for the poor since the economic crisis makes it harder for them to buy homes whilst the rich don’t struggle
@9K5C27MConservative1yr1Y
they should induce laws that allow the rich to be taxed as they have a habit of avoiding it so if they earn more than most then they should be taxed for their time in the uk
@9JSYS241yr1Y
Create a much wider expance of tax brackets. The new ranges should mean more is paid by the extreamly wealthy and its not too much of a shock moving between brackets
@9G7KZB81yr1Y
Keep tax brackets but lower the percentage we pay. People tax avoid when you get to a certain tax bracket because it is not worth paying the tax.
@9FHRNCN2yrs2Y
The whole tax system in my opinion needs redone with more brackets as the middle class are currently getting hit hardest.
@9BS3D592yrs2Y
yes but only the people earning millions or billions. Not those earning 200k. Also close all tax loopholes.
@9BR2VTX2yrs2Y
There needs to be further clarity as to what is considered 'rich'.
@9BLQZND2yrs2Y
The tax system needs a full review.
@9B9BHD42yrs2Y
Only on those with very high income brackets
@9B84XHJ2yrs2Y
We should encourage unions to have more common ground with their employers and employers to listen to the workers in return.
@99M4MJS2yrs2Y
Abolish all tax everywhere in perpetuity.
@96BCNKC2yrs2Y
Yes, and lower the tax of the poor
@963779C3yrs3Y
lower tax for the wealthy and abolish inheritance tax living tax and all the other ways the government is taking our money.
@943NVX93yrs3Y
Yes but only on people that earn over £200k
@93TR4XZ3yrs3Y
Use a land tax only, wasted space is the worst thing for productivity.
@93MLH3PConservative3yrs3Y
Tax the poor more tax the rich less
@93GJFYJ3yrs3Y
No, but there should be a tightening of loopholes for rich people and especially big businesses
@92W9PNFLiberal Democrat3yrs3Y
Complete overhaul, lower deduction taxation overall but increase duties elsewhere
@92P86X93yrs3Y
yes, but do it by plugging loopholes and taxing the behaviours associated with extreme wealth
@92GJZPH3yrs3Y
Base the tax rate on your income
@92C3BNN3yrs3Y
Switch to a progressive tax system.
@9276SVS3yrs3Y
Merge income, national insurance and dividend tax to a lower rate with a low free allowance.
@8Z7YZ4L3yrs3Y
No, but fund HMRC more to ensure large corporations and wealthy individuals can't exploit loopholes
@8YZRT463yrs3Y
Reform to a percentage rate - eg everyone above personal allowance pays 15%
@8YTY5L33yrs3Y
No, and increase taxes for the poor
@8YSFVY83yrs3Y
being taxed for hard earned money you have made is harsh
@8YPMHG43yrs3Y
Taxes should be raised overall, but the threshold for tax should be raised.
@8YCTQTC3yrs3Y
only the very top bracket, as well as large corporations
@8YCKZLD3yrs3Y
lower taxes for the poor but really should just reset everything as economy forever increasing prices of this and that need to reset and start from low again
@8Y5RFYH3yrs3Y
Abolish money all together.
@8Y2YTCR3yrs3Y
Yes, I would introduce amendments to capital gains tax that allow the government to claim a proportion of an investment prior to it being liquidated. I would also introduce tax on loans secured against investments.
@8XY8SFTLiberal Democrat3yrs3Y
No, Lower tax on poor. Legalise marajauna and tax the sale as a well as crypto markets
@8XVDX733yrs3Y
Yes, but except for that of Innovative Individuals whom secured a lot of Cash.
@8WGFC6Y3yrs3Y
Yes but more so on the extremely rich.
@8WCBT563yrs3Y
yes but lower the taxes for the poor because they struggle.
@8WBV7D6Conservative3yrs3Y
No, but add a tax to them on benefits as a way to get them into work
@8W4GL9C4yrs4Y
yeah but they should change it if i ever get rich
@8VXKFX24yrs4Y
Raise the tax if they excell over a certain amount of money each month. lower tax for working class getting below a certain amount.
Remove tax loopholes for corporations and raise taxation on the wealthy.
@8V3SB5D4yrs4Y
Add more loopholes, for me
@8TQS9VC4yrs4Y
Keep Income Tax rates the same but introduce a wealth tax
@8TPB9XQ4yrs4Y
Yes but tax should be relative to wealth rather than income.
@8TNVHWW4yrs4Y
@8TMFHT94yrs4Y
Keep the rate on the lower tax brackets and massively increase tax on higher earners with anything over 1 billion taxed at 99% or higher
@8TKTF7F4yrs4Y
Raise taxes for the rich and lower income tax for the poor.
@8TBTHGJ4yrs4Y
Yes, to make all taxation proportional to the actual income
@8T977RP4yrs4Y
The extremely wealthy at the very top should be taxed more
@8SZTGZC4yrs4Y
lower or remove taxes for the poor make the rich pay more and don't allow businesses to get out of paying the taxes they should be
@8SQPJ4K4yrs4Y
I think a tier system should be introduced
@8SNWVGX4yrs4Y
Yes, for those earning over £150,000/year. Also increase the Personal Allowance.
@8SNKC2Z4yrs4Y
Remove loopholes for cooperations. Keep others the same
Raise taxes for certain people e.g footballers and celebrities instead of people who have worked for their money e.g doctors
@8SBFW5D4yrs4Y
Introduce a Universal Basic Income to replace benefits and pension and increase taxes for the rich.
@8S5H4MR4yrs4Y
Yes, but primarily on multinationals and night-culture businesses
@8RKDDFN4yrs4Y
The rich people and those in well off areas should pay more tax
@8RB2L8L4yrs4Y
Raise taxes on multinational corporations and large tech companies.
@8QNRSN34yrs4Y
I am unsure on this matter
@8QC3PJX4yrs4Y
No, raise tax bracket, end loopholes and low tax for the poor
@8QBCXTN4yrs4Y
I think the taxs someone pays should be based off how much they earn, richer people pay more and poorer people pay less
@8Q4LLJZConservative4yrs4Y
Create a law that the taxes paid must go to the country the income is made in, meaning no offshore bank accounts and other way arounds to decrease tax paid
@8Q3NRD24yrs4Y
Small increase for the rich and a small deduction for low income families
@8PZ7N9J4yrs4Y
Bring back a reformed community charge but lower income tax for lower bracket.
Everyone should be taxed 20% regardless of how much you earn
@8PF9PPT4yrs4Y
Abolish current taxes but enforce a land value tax in their place
@8PD9JY34yrs4Y
increase tax on all brackets whilst removing any loopholes for large corporations, however increase the amount allowed in personal allowance to 13,100 or higher
@8P2KD7C4yrs4Y
Make sure large corporations pay their taxes.
@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.
@8NRDDLW4yrs4Y
Yes but only for the very rich(people in the 5%) who don't give there money to charity or help others.
@8NKSJ364yrs4Y
Yes, but ensure that it's only used for specific purposes.
No but make tax havens illegal and force corporate companies to pay their share of tax
@8J3TFWG4yrs4Y
No, keep taxes on corporations low and lower taxes on rich to ensure they're more likely to pay
Retain existing income tax levels but remove all existing tax loopholes for large corporations
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