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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@9QB6FC29mos9MO
A tax that is added above a £25000 threshold or about one percent and rises for substantially larger incomes. This to be added and removed in times of economic difficulty
@9NS79JR10mos10MO
Tax the rich as they would fit into their tax bracket, everyone earning over 12,000 a year should be taxed
@9L3LS961yr1Y
No, lower tax for everyone. No one wants it and no one knows where it goes apart from Rishi to play manoplay with it
Yes, and owners of more profitable businesses must pay more business tax than less profitable businesses.
@93GJFYJ3yrs3Y
No, but there should be a tightening of loopholes for rich people and especially big businesses
@8Z7YZ4L3yrs3Y
No, but fund HMRC more to ensure large corporations and wealthy individuals can't exploit loopholes
@8WCBT563yrs3Y
yes but lower the taxes for the poor because they struggle.
@8V3SB5D4yrs4Y
Add more loopholes, for me
@8SQPJ4K4yrs4Y
I think a tier system should be introduced
@8RKDDFN4yrs4Y
The rich people and those in well off areas should pay more tax
@8QC3PJX4yrs4Y
No, raise tax bracket, end loopholes and low tax for the poor
No but make tax havens illegal and force corporate companies to pay their share of tax
@996ZFZW2yrs2Y
Yes but only on the top 1% or even higher
@98YKKN72yrs2Y
Would support higher taxes on the super rich (income above £1m per year)
@96KDZY22yrs2Y
Increase VAT to cut inflation. Than cut VAT once inflation is gone. Also, increase tax only on the billionaires.
@8XMZ8XJ3yrs3Y
Raise takes on the rich, get rid of the debt and then have the same tax for everyone
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