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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@9M37JXP11mos11MO
Tax the super rich, not those who are classified ‘rich’ due to living and working in a high cost of living area such as London. For example, a household income of £150k in London is not ‘rich’.
@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.
@8XLSJ4P3yrs3Y
actually find a way to tax the rich as they have multiple ways of avoiding it
@9FC4P9C2yrs2Y
The government needs to more to crack down on wealthy individuals who use loopholes to get out of paying their taxes. Such as offshore accounts, shell companies or abuse trust laws. Additionally individuals who have been residing here for a mean of 9 months a year for a decade should be seen as British citizens and pay up.
@96975NS2yrs2Y
Raise threshold for 40 percent tax from 50k to 80k
@8TYCBQQ4yrs4Y
Monopoly corporations should pay significant tax
Stay same but remove all tax loopholes for large corporations, and prevent future loopholes
@8SMT6FS4yrs4Y
Lower the income tax rate and remove all existing tax loopholes for large corporations raise taxes on the rich
@9CHKRKR2yrs2Y
Yes, by introducing a land value tax
@9BJ3KPR2yrs2Y
Only those earning over 100k pa
@98THZYK2yrs2Y
Yes, and disallow non-UK residents with a UK passport to be exempt from UK taxes
@973GPHW2yrs2Y
Tax freeze and focus more funds on retrieving all unpaid tax from the rich and large corporations.
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