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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@9Q95ZDNIndependent9mos9MO
Yes, and business tax should be proportional to the increased cost placed on customers and employees to prevent businesses passing the tax along to someone else.
@9PKQMFX9mos9MO
Increase tax thresholds for all earners, introduce additional tax thresholds for super high earners and increase tax on super rich
@9PCX53X10mos10MO
Only those considered 'rich' in the current economy, I.e. I would consider someone earning over £250,000 a year as 'rich'
@9NVDZ2B10mos10MO
Figure out different income brackets so that if people are only just in the wealthy section they aren’t paying as much as the people right at the top and vice versa
@9N9Z6JP10mos10MO
Fairer taxation across all brackets with tax increases allocated to specific items; Healthcare, Education
@9PWBNRS9mos9MO
Raise taxes by severely restricting loopholes, perhaps restricting the maximum amount a person may invest in legal tax avoidance schemes to 20% of a person's annual taxable income per annum for those with incomes above £100,000pa. Meanwhile abolish the personal allowance clawback for high earners.
Raise the tax in the rich, lower the tax on the poor
No, but increase corporation tax for companies
@955J4ZF3yrs3Y
Tax the ultra rich more, add a new tax band. A band where you pay 50% tax on earnings over £2,000,000 in the year. Some will avoid it yes, but some won’t. Don’t increase tax on the poor.
@93CHR2G3yrs3Y
No - there is plenty of tax money, it just needs more intelligence to how it is used.
@92676LG3yrs3Y
No raise tax on the poor
@8YVLB363yrs3Y
Yes but only if debt is high, otherwise lower all taxes.
@8W5D6NC4yrs4Y
By taxing the rich people mainly mean taxing large companies, by doing so product prices will increase and people will complain again, a new system altogether needs to be made.
@8THV6ZS4yrs4Y
We should give money to the poor
@8THTMJKConservative4yrs4Y
The increase in the tax brackets/salary should be smaller as oppose to having a wide gap for those earning between £50-15000 being taxed the same percentage
@8T79KS24yrs4Y
yes, and introduce a land value tax
@8SP5NT54yrs4Y
Increase on big businesss
@8SMP3TY4yrs4Y
Yes, but for those earning exceedingly high amounts of money.
Yes and close tax loopholes, abolish beneficial ownership and other tax efficient practices.
@8RV2MMJ4yrs4Y
Yes, via closing of Tax Loopholes to ensure that the rich and wealthy pay their fair share and cannot commit Tax avoidance.
Increase tax rate on rich and remove all existing tax loopholes for large corporations.
@8Q4LQHV4yrs4Y
Yes but it should be the incredibly wealthy not middle class who earn over £50k
@8Q3X5D54yrs4Y
Increase tax rates but only to a set maximum, not with regards to earnings.
@8JNH9YJConservative4yrs4Y
Only for people that are actually rich
@8J2PY6Q4yrs4Y
Raise it on the rich and remove loopholes for large corporations
@9CTZ8ZL2yrs2Y
yes, and income brackets should be adjusted so they are more gradual.
@97K667M2yrs2Y
Remove tax loopholes on rich and increase rich tax when debt is high but when debt is low decrease rich tax.
@97BCBT92yrs2Y
Yes, on billionaires and remove tax avoidance loopholes
@96WWGKF2yrs2Y
Introduce substantial tax on wealth
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