pslewis

... that's me going to pay more into Labours coffers!

However, there are plenty of 13 year old mothers in Liverpool who need my help - can't moan, really, can you?

chocolate_o_brian

iTrader: (22)

That's only going to be the start of their war on the rich.

Glad I'm not you, Pete

Turbohot

News put loads of political professionals criticising this future pointer from the Labour. Regardless, IMO Ed may have butterflies in his head, he looks less dodgy than that oily George Osborne.

SJ_Skyline

“We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.” ― Winston S. Churchill

Tony Abbott the Aussie PM hit the nail on the head for me last week at the G20 calling for less government and more governance, that business was something to be proud of and that profit is not a dirty word.

Millibrain and his cohorts don't get this, but then sadly the morons that vote for him don't either. I guess everybody getting the right to vote is both the positive and the negative of a democray

Oh, and Ed - I can really see the high tax rates having a positive impact in France with Hollande's soak the rich policy...

David Lock

Populist short term politics playing to the jealousy of the morons that vote. What's the highest tax rate in USA which thrives on low tax rates?

Labour may also borrow for infrastructure development. So how does a road bypass generate real money to pay off the loan? More PFI, but called something else perhaps, what a winner that was

Personally I would cancel/postpone HS2 and put some more concrete (heated) down at Gatwick for an extra runway and be done with it.

I would also cancel Trident but I know that is more controversial.

dl

jonc

The 1% of the population who are in the top tax bracket account for a third of the total Income Tax revenue for the whole of the UK in 2012. I think those in the 1% are paying their fair share already.

RobsyUK

iTrader: (2)

I just want vat back to 17.% please

^Qwerty^

Nothing more than a political gesture. It's not like somebody earning 100k+ isn't paying enough f'ing tax already.

alcazar

iTrader: (2)

It's another policy aim the "haters" in the electorate. This one, obviously, is aimed at those who hate the rich and blame them for THEIR mess, or are just jealous.

The Tories are good at this, though so far they have the populace hating the public sector, immigrants, the poor, the unemployed and the elderly.

5-1 to the Tories then.........

^Qwerty^

I love Bollocks latest from this morning, "The shadow chancellor said it was a "fair" measure to be used while Labour reduced the "huge" deficit it would inherit if it won the 2015 election."

The deficit that would be even bigger if that muppet was in charge, because all he's moaned about over the last couple of years or so is that the current government has cut too deep.

I guess I'm fortunate, but I've not actually seen any impact of the cuts so far, yet listen to near on daily rants from local authorities about how much of their budgets have been cut. Whilst I'm not naive enough to believe the cuts are not having an impact somewhere, it just goes to show how wasteful councils are.

pslewis

The Tories say that the 50% Tax cost more to operate than the amount collected ..... that may be true, BUT, the rich don't pay anything like the Tax they should anyway!

Take someone working at our place on £1,750 a day - not unusual - they are self employed and a Company themselves ..... they pay themselves the min wage, they pay their wife the min wage, they run an expensive lease car, they claim back VAT and other allowances ........ at the end of the year they pay just 18% Corporation Tax and the rest of the 'profits'.

It's those who are 'just' in the higher rate tax band who are hardest hit - their marginal tax rate is huge .... and they don't earn enough to employ an Accountant.

richs2891

Nail on head, traditionally employed the half witted, lazy and incompetents, with little or zero basic common sense. And no come back on them for wasting money (as they thinks its a never ending pit of money). Most need a kick up the backside in my eyes.

And before someone has a go I've previously been employed full time by a government organisation and left, then worked as a contractor for a few different local councils. The money wasted on stupid items / written off project (that obviously would not work) is shameful.

Richard

zip106

Those that are just in the higher band and are PAYE are even harder hit - no room for avoiding tax legitimately.

zip106

Like this Labour project?

http://www.nottinghampost.com/WASTE/...ail/story.html

Chip

20% in most cases.

pslewis

Plough the 'extra' into your pension ....... being on the borderline tax is easy to get a huge benefit. Every £60 you pay into your Pension pot, the taxman adds £40 ...... no brainer.

tony de wonderful

Yet there was no income tax until about 1800 or so. Like it or not, Capitalism seems to require a big state and the difference between Tories and Labour is really just a cigarette paper when viewed from a distance.

tony de wonderful

Oh **** off Pete FFS. 'Not unusual'?! I'm sure in this sort of post last year you were saying things like 1000 a day now it's 1,750?! Typical pslewis bragging post by association.

Anyway I thought it wasn't so easy to cheat the tax man with that sort of self-employed scam? I can't remember the exact reason now though. One pays income tax on dividend payments IIRC. You still have to move the 'profit' into your own bank account.

jonc

http://www.thisismoney.co.uk/money/article-2095909/How-pay-21-tax-100-000-income-child-benefit--IR35-rules-explained.html

tony de wonderful

Looks like a highly muddled and grey area to me, with potential to be investigated by HMRC and classed as being in 'disguised employment'. But it does seem that people are avoiding tax this way.

NuNu9977

Know how this feels. Seems unfair for small businesses

jonc

“No man in this country is under the smallest obligation, moral or other, so to arrange his legal relations to his business or to his property as to enable the Inland Revenue to put the largest possible shovel into his stores. The Inland Revenue is not slow – and quite rightly – to take every advantage which is open to it under the taxing statutes for the purpose of depleting the taxpayer’s pocket. And the taxpayer is, in like manner, entitled to be astute to prevent, so far as he honestly can, the depletion of his means by the Revenue.” - Lord Clyde

hodgy0_2

when Lord Clyde said that, women had just got the vote

john banks

That door is closing with annual and lifetime allowances being rapidly reduced.

Re corporation tax, aren't some forgetting that the dividends are taxed too?

markjmd

iTrader: (11)

+1 for the point about how well this sort of nonsense is working out in France, where they've just this week announced another record-breaking unemployment high, and Francois Hollande has the lowest approval rating of any sitting President since the war. Pretty impressive work, for a guy who's not even two full years into his seven year term

jonc

Yes and PSL was around to witness that historic event too.

f1_fan

iTrader: (9)

Er... the high tax rate there is 75% not 50% and there are many other factors for the problems in France... but I guess it suits greedy people to use this in their argument as it suits their agenda!

jonc

Labour's policy would have taken us down a very similar path, more borrowing, more spending, higher taxes, bigger deficit. Mili-***** have changed their tune recently, no longer do they go on about austerity and harsh and fast cuts of the Tories or a flat lining economy. Now we hear is that if and when Labour get voted in, they'll be spending years "fixing" the economic mess that the last Government left behind. But hang on, we've already heard this from the Tories. One thing we've learned about team Mili-***** is that they've not learned anything from their mistakes of the past.

ScoobyWon't

I'd have thought anyone wanting to win an election would be pushing for tax cuts for all.

c_maguire

As long as it is 'One person, one vote' the easiest way to win an election will always be to buy off the lowest common denominator. It's cheaper and there is a herd mentality.

There is one caveat of course.
And that involves ensuring they actually do vote at all.