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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@9QNH67F9mos9MO
Harmonise the approach to capital gains tax with income tax and limit proceeds paid to banks on basic reserves held with the Bank of England, both of which are increasing taxes on the rich
@9Q3Y74WLiberal Democrat9mos9MO
Government should in the long term lower tax once public services are functioning. In the short term however we should introduce a tax flat of 1% on any earning of £250k or over
@9PHWRXW9mos9MO
Tax must be more redistributive. This will require taxing richer people more. But there needs to be a definition of rich before this question can be properly answered
@9MWG7KW10mos10MO
Yes but only for the very rich e.g. those earning £500,000+ a year or having equivalent in shares/assets (not including home).
@9MQFJYP10mos10MO
Increase tax on those who have access or spend more than 500,000 per annum, remove loopholes for “expenses” that the rich currently use.
@8ZPGVNG3yrs3Y
Introduce taxes that actually target the wealth not increases of income tax. tax the billionaires that pull money out of the economy and never pay in don't increase the tax burden on middle class workers
@9MCZSQ811mos11MO
Realign tax brackets and implement a wealth tax on multiple properties (10<) and assets over say £50m
@9J736CNConservative1yr1Y
Keep tax as is except raise the level when 40% is introduced and increase additional tax on super rich.
@9GNCMHC 1yr1Y
Yes, but only on incomes above 500K a year. Also the "secret" 60% tax band between 100-125K due to loss of personal allowance should be removed.
@9G8KYCW1yr1Y
Tax is fine, as long as we can see where it is going and if the benefits are coming back to us, something similar to how Finland does taxes.
@9G2HNHC1yr1Y
No, taxing the rich does not necessarily help with raising funds for the government. I would rather see a larger personal income allowance and then a more moderate tax on the higher earners in the country but not something unreasonable to disincentives people from having higher paid jobs
If they have a hard working job or long hours they should have less tax than someone who sits in an office earning millions who works 4 hours a day
@9FGXRCJConservative2yrs2Y
Complete reform of taxes, focusing on wealth rather than income
@98XC54S2yrs2Y
Only rich people who do not donate to charities n that. The rich people who arrr nice and use their money ethically right, are chill
@96KYNHB2yrs2Y
Increase the income tax rate on top earners, and remove loopholes for large corporations
@96FKYTW2yrs2Y
The United Kingdom should give the same amount of taxes to the rich as to the poor, only when the rich has more expensive buildings, then the taxes for the rich will be higher
@967XPC6Conservative2yrs2Y
Yes, but sensibly. We aren’t trying to detract UK investment
@9637Y243yrs3Y
Close loopholes and stricter punishments
@95LC5PS3yrs3Y
Tax should be in place but progressively, more incentives for corporations and individuals who pay higher tax to remove the need to use tax loopholes
@92SMQ2Y3yrs3Y
Tax the rich and reduce for those in poverty
@92GRFPP3yrs3Y
lower for poor and higher taxes for the rich
@caljomac3yrs3Y
Reform to remove NICs and replace with increased basic rate of income tax. Increase taxes on capital gains to the same level whilst allowing gains to accrue unrealised to prevent people being forced to sell e.g. company shares or family homes whilst alive. Reduce routine use of tax mitigations (e.g. trusts, offshore companies) to ensure a level playing field. UBO requirements to ensure compliance.
@8Z8C68N3yrs3Y
depends how rich or if they have family
@8YYKQZJ3yrs3Y
Yes and reduce tax loopholes for large corporations but provide alternate incentives
@8YTBNQY3yrs3Y
No, but there should be more tiers introduced so the increases are not as steep. Nobody should be taxed 50% or more of their income.
@8YMPBB43yrs3Y
Yes but raise the threshold where higher income taxes apply
Keep the rates the same but tackle loopholes
@8W2YPTL4yrs4Y
All monies received taxed as income
@8T9C9N44yrs4Y
introduce new bracketing for top 0.01% of the wealth distribution.
@8ST33TL4yrs4Y
I think that taxes should be raised for those companies in unsustainable industries such as mining, fracking, aviation and fast food.
@8SQ3GCZConservative4yrs4Y
tax amount should be the same for each person
@8SMWP7GLiberal Democrat4yrs4Y
Yes, above a certain income
@8SMRDRD4yrs4Y
Raise tax on ultra wealthy
@8SMD3234yrs4Y
Keep the tax rates, but actually tax the rich instead of allowing tax avoiders.
@8SCQZQX4yrs4Y
Shift tax bracket then increase
@8RSTDLX4yrs4Y
No keep the income tax the same and remove all existing tax loopholes
@8RBDT3W4yrs4Y
Keep things as they are for individuals. Make big businesses pay a fair share. Look at how online businesses are taxed.
@8P5MY5Z4yrs4Y
Yes and the government should tighten regulations to limit tax avoidance
@9C22SL82yrs2Y
Yes but make sure it is not alot of their wealth to reduce the chances of revolts
@9BPHWVJ2yrs2Y
Increase tax on assets, not on earnings.
@99QTVDTLiberal Democrat2yrs2Y
Leave bands roughly same but remove jumps from 20% to 40% and from 40% to 60%.
@99DSVFV2yrs2Y
add more income brackets and keep tax the rich the most
@99BKF982yrs2Y
Better controls in place to ensure that the rich are actually paying their tax. Less tax loop holes.
@98V7KNZ2yrs2Y
Increase higher class tax by a bit
@98LN85X2yrs2Y
No, but increase the personal allowance and have it reduced for those earning above £60,000
yes and lower the income tax rate and remove all existing tax loopholes for large corporations
@97Y969H2yrs2Y
Raise taxes on the highest earners but raise that limit to over £200,000
@97Y8NJG2yrs2Y
Firstly, remove all existing tax loopholes for individuals as well as for large corporations.
@9DJWF8V2yrs2Y
Yes, and there should also be an open and transparent dialogue with the rich on how the tax money can be best spent for the collective good.
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