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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@9H4FS33 1yr1Y
Add a tax bracket for ultra high net worth individuals to be taxed at a higher rate on income above £500k and remove all existing tax loopholes for large corporations
@9RD3YLP8mos8MO
Yes, but focus on super rich, multi-millionaires and billionaires/big companies, capital gains tax / inheritance tax (not income tax) and close tax loopholes and crack down on tax avoidance.
@9LS3PNF11mos11MO
Tax accordingly to annual pay. Removing any loopholes that provide more people, no matter their situation, to commit tax evasion or tax fraud. Commit to helping any lower income or low class people who can't afford their tax ways to work through paying or at least reducing their tax till they're able to pay effectively.
@9F8RNM62yrs2Y
Raise tax thresholds considerably
@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.
@9F9T8YR2yrs2Y
Depends on income methods
@8SNM8Z44yrs4Y
Yes, but use independent economic advisers to optimise the most efficient tax rate using metrics.Tax is an obligation, not a punishment.
Only if tax havens are abolished globally
@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.
@8Q573W24yrs4Y
Tax big foreign corporates like Amazon
@8HFVF7K4yrs4Y
yes taxes should be raised but I should be able to decide what I fund with my taxes
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