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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@9QM74JR9mos9MO
No, the tax system should be used to encourage those to work and to earn more - to pay into the economy. although after a certain value this should be taxed at a higher rate.
@9QDMJVV9mos9MO
There should be more income tax brackets on a sliding scale. There should be greater tax on wealth and fewer tax loopholes for large corporations and high net worth individuals
@9PG544Z10mos10MO
Replace all taxes and national insurance with a simple personal and corporate income tax including capital gains, a corporate environmental tax, a pollution tax instead of VAT
@9MTBYHN10mos10MO
Yes but the tax rate should reflect economic background of individuals. People from lower income families who go on to be high earners should pay less tax than those on the same wage from high income families
@9F9F9TY2yrs2Y
Only on particular companies and corporations + wealth
@9PP6N2W9mos9MO
Creat more brackets so those in the middle earner brackets are less squeezed. Review the level of “top earners” to be more
@9BMHX942yrs2Y
Increase tax on multi million companies
@8SP6V794yrs4Y
Increase tax on the rich and also close all existing tax loopholes for large businesses
@8SNQSGX4yrs4Y
It would probably be a better start to get the rich to actually pay there tax in full
@9BFD7V82yrs2Y
Yes, but tax assets not income
@98SLNFW2yrs2Y
means testing should be more efficient
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