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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@9QQ7RBQ9mos9MO
tax should have more divisive catagories, tax should change depeding on income. really high earners 80k and over should be taxed the most
@9Q2CBXC9mos9MO
Completely reform to support low income whilst increasing living wage, cracking down paid for on benefits. Take proportionally above basic living salary.
@9NSLXLC10mos10MO
This depends on the interpretation of ‘rich’. If you are first generational wealth and have funded your way through university, first home, childcare and you din’t have help from family wealth, then even £100,000 in the south of England doesn’t go all that far. If rich means millionaires, then yes, absolutely. If you mean a working class kid done good, earning £100,000 but with two kids and a mortgage to pay, then no - don’t raise their taxes.
Yes and raise the tax free thresholds. Increase enforcement of tax evasion. Close tax avoidance loopholes.
@9KX2HS81yr1Y
No, income isn't how the rich earn money. A Wealth tax needs to be introduced to properly tax assets, income and dividends over 5M
@9F4YD9Q2yrs2Y
Increase taxes for the poor, and decrease them for the rich
@95ZFBRG3yrs3Y
Everyone should pay the same rate of tax.
@8YW9TQN3yrs3Y
Yes, raise taxes on the proportion of income brackets, put measures in to prevent tax evasion and fraud, and lower taxes for poor families.
@8Y72N7Y3yrs3Y
Government should spend the money more wisely. They receive plenty already. They are too many staff. They are too greedy and wasteful.
@8TSK9MKLiberal Democrat4yrs4Y
No but outlaw typically tax evasion strategies.
@8TC37864yrs4Y
Replace all taxes with a flat rate transaction tax which is applied every time money changes hands
@8R6JBXQ4yrs4Y
no but enforce current tax rates much more stringently
@8Q3X4K84yrs4Y
No, but tighten loopholes
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