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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@9MVFTM310mos10MO
Sort of. Increase all income tax thresholds, abolish national insurance, increase inheritance tax, introduce a high land value tax, and equalise capital gains and income tax.
@9L9SNFX12mos12MO
Yes. tax wealth not income to be fairer, and remove all existing tax loopholes for large corporations
@9MZF95Q10mos10MO
Adjust the current tax brackets to ensure those earning above 250k to 400k are taxed more punitive than those on 150k and so on going up. Ultimately, the tax brackets should allow for luxury lifestyles whilst considering how much above that is necessary for living well. So someone on 150 ends up with less than 100k which makes it very difficult to even buy a home in London today which is rather ridiculous considering the salary.
@9M4YFLM11mos11MO
Overhaul the Tax system completely. Add a new top rate to Tax to target the Super Rich, and remove the tax loopholes so that businesses pay tax where they have earned revenue, not where they are headquartered. Increase Tax on online purchases to help save the High Streets and remove VAT from women's sanitary products as these should not be classed as luxury goods. Adjust Corporation Tax at 20%
@92RTHQR3yrs3Y
On inheritance, not taxed more for earn't money.
@92M9MYN3yrs3Y
No, but taxes systems should be improved to remove loopholes
No but Increase strict regulation for taxes
@8SMYD624yrs4Y
raise taxes on the rich but increase the income brackets to £80k not £50k.
@8SBDS86Liberal Democrat4yrs4Y
Yes but increase personal allowance for those earning less than living wage
@8RVLZHG4yrs4Y
Abolish all taxes and replace with taxes on rents
@9972MWC2yrs2Y
No. We should cut taxes across the board.
@98P2PZDLiberal Democrat2yrs2Y
Revise tax on Equity and Property income
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