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.
Narrow down which types of responses you would like to see.
Narrow down the conversation to these participants:
Discussions from these authors are shown:
@9QJWJ699mos9MO
No, remove all income tax but instate a 50% 'luxury item'-VAT tax on items of extremely high value (all items valued over £80,000 - except 1 main residential property)
@9PNNS7K9mos9MO
There should be more tax brackets, I.e. increase the 40% bracket to £65k, 45% on £80k & 50% on over £110k
Yes, but lower taxes on the poor, and remove all existing loopholes for the rich and large corporations
@96X84LM2yrs2Y
Very difficult to define “rich”
@92NNDCS3yrs3Y
Flat rate income tax, but higher VAT rates on non-essential/unhealthy and luxury items (more VAT brackets)
@92JJ5QT3yrs3Y
more tax brackets should be added with a 10% tax rate between £12-£24k, 20% £24k-£50K, 30% £50k-£105K, 40% £105k-£170k, 45% £170k-£210k, 50% > £210k. These rates are triple locked much like the pension and raise in line with Consumer Price Index
Raise tax for the rich and remove all existing tax loopholes for corporations.
@8PTNDQJ4yrs4Y
To have a system where each wage is expected to contribute to particular parts of society, like a pocket for the public services, struggling restaurants and shops, charities, young people in care etc.
@8P7W79C4yrs4Y
Keep the rates the same and remove all existing tax loopholes for large corporations and hold them accountable.
@8M5HDHL4yrs4Y
if u want dont really care
@9BJTHP82yrs2Y
Lower taxes for the poorest and increase taxes on the richest by the same amount.
Yes but by removing tax loopholes
Loading the political themes of users that engaged with this discussion
Loading data...
Join in on more popular conversations.
