Flatulent_Bob
Posts: 7790
Joined: 30/9/2005
|
quote:
ORIGINAL: superdan I understand there's a bit of debate about this, but I don't really understand it because tax law goes right over my head. One thing that confused me though is, if cutting the top tax rate won't make much difference, then doesn't that basically mean that the rich weren't paying their tax properly in the first place? That's about the size of it. quote:
Wouldn't it be better to enforce tax properly rather than letting them dodge it? Which was also mentioned in the budget speech, yes they are looking the close the loopholes, and are going to give aggressive avoidance of tax a lot of focus. quote:
Is there anything reason to assume that they'll suddenly be encouraged to start investing now since they weren't really paying 50% anyway? I honestly suspect it's just going to go straight in their pockets. Again this will be open to opinion. I'm sure the majority of posters on here will have the super rich adding a couple of meters of depth on their Scrooge McDuck swimming pool, however the treasury have said that more than any other these earners will change their habits inorder to reduce the amount of tax paid. It's hoped this will encourage more top paid talent to reside and work here, which coupled with the corporation tax should bring in more business, higher spendings, new jobs, etc. It depends on what you think people who earn £150K a year do with their extra money. If you think they store is all in offshore accounts, and hide it from the taxman, never spending it then this is very bad. If you think the majority of them are senior execs/company owners who are likely to invest it in growing their companies, new opportunities then it could be a good thing. It's a risk, that the business community might not keep its part of the deal, however if the £100 Million figure is correct, Boy George has obviously seen it as a risk worth taking.
< Message edited by Flatulent_Bob -- 22/3/2012 1:01:36 PM >
_____________________________
I'm your huckleberry... All the world will be your enemy, Prince of a Thousand enemies. And when they catch you, they will kill you. But first they must catch you; digger, listener, runner, Prince with the swift warning. Be cunning, and full of tricks, and your people will never be destroyed. Oh my God! They banned Kenny!
|