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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@9PZBZHZ9mos9MO
Maintain income tax but increase tax on other income sources,where large income is dependent on pre-existing wealth eg. Investments
@9F95S732yrs2Y
capital gains tax should be the same rate as income tax
@8YMC66C3yrs3Y
No, instead tighten loopholes so rich must pay tax they owe
@92VS4L93yrs3Y
Yes because most rich people flex their money with watches and all that stuff so instead they should flex on how high their taxes are.
@8Z2XJQW3yrs3Y
The rich will avoid paying taxes with government support, the rate they are ostensibly supposed to pay is irrelevant.
Lower taxes for those earning up to £120,000 per year and change corporation tax to a 2-4% (depending on industry) taxation on turnover to eliminate the ability for companies to avoid tax.
@8W5DS8Y4yrs4Y
Lower income tax for the poorest and remove loopholes for large corporations
@8K4CTH94yrs4Y
@Lilem5yrs5Y
As taxes need to be raised they need to be raised in all tax brackets as a reasonable rate. It is unfair to tax the poor as much as the wealthy but it is also unfair to overtax the wealthy for simply being wealthy.
@9BF23NDConservative2yrs2Y
All people taxed the same percentage of their wealth.
@99NRSKN2yrs2Y
depends of the job they are doing
@98M8JNN2yrs2Y
Yes but lower taxes for the lower paid
@98HWM9P2yrs2Y
It depends on the state of the country
@986YVSN2yrs2Y
Everyone taxed the same percentage of their wealth rich or poor
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