Quote:
Originally Posted by macafee2
what would the take home pay be at 50% tax on 50k?
tax avoidance, that is a government problem, they allow the loop hole. I used AVC's to reduce may tax outgoings.
macafee2
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The tax thresholds would operate the same as now. Somone earning £49.9k would pay 20% tax on the whole amount. Another earning £52k would pay 20% on £50k and 50% on the £2k. The sliding scale means that someone earning £100k would take home less than £75k, but no one could take home more than £75k. I am ignoring NIC but that can be accommodated within this formula.
AVC's are not tax avoidance because they are a government scheme to encourage saving for the future. I also made good use of AVC's.
Quote:
Originally Posted by macafee2
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where do people get the money to pay the wealth tax, if over the years their house has gone up to a million or more but they are on no more then average wage?
macafee2
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Sell their assets i.e. property if necessary, which will help recycle properties at reasonable prices because there would not be any incentive to pay high prices, the prices would be naturally regulated.
Quote:
Originally Posted by macafee2
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A fair society, mmm, one method does not cover all.
We have a female that inherits £250,000, blows the lot. Now lives in rented accommodation with the rent about £200 below market because that is all she could afford when working and now receives universal credit to now pay her rent etc. ya let the rich/well off that have been careful with their money support her. With energy prices rising will her universal credit go up? Will those taking their pension early get an increase?
macafee2
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There will also be additional mechanisms to cover the irresponsible and the reckless.
Quote:
Originally Posted by macafee2
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A fair society is not all about the "rich" supporting the poor, the poor need to support themselves as best they can, not just sit there with their hand out. Some poor people work all the hours god sends and don't ask for state help.
macafee2
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The top 5% of the population are worth more than £1m in the UK ie.they either earn or have assets of more than £1m or both. Liberate their wealth and you automatically address the needs of the other 95% including the poor.
I agree about the poor needing to work, hence the policy that all living citizens who are able to work will work in order to live. It will be their duty to work.
Quote:
Originally Posted by macafee2
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No I do not support you tax scheme, sorry
macafee2
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Your counter revolutionary tendencies have been noted!
