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Brown Defends Top Rate Tax Rise

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It was purely political because the revenue is very small, Labour snobbery at it's worst.

One in ten earners of average salary £200k would have to move their payroll to the Zurich office to make the additional revenue zero.

OK, there is the good riddance aspect, but that aside, the sums don't add up. The country will lose money, not gain it.

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One in ten earners of average salary £200k would have to move their payroll to the Zurich office to make the additional revenue zero.

OK, there is the good riddance aspect, but that aside, the sums don't add up. The country will lose money, not gain it.

I know of two people who have already taken such steps and said they hadn't done that sort of thing until now, because they don't mind paying something reasonable but this just takes the point out of earning.

It was a bone thrown to the left because he knows he's running out of friends.

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OK, there is the good riddance aspect, but that aside, the sums don't add up. The country will lose money, not gain it.

Yeah, good riddance to all those people who contribute loads to a system that they get nothing from!!!! hahahaha :lol:

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One in ten earners of average salary £200k would have to move their payroll to the Zurich office to make the additional revenue zero.

OK, there is the good riddance aspect, but that aside, the sums don't add up. The country will lose money, not gain it.

Don't care about this really - indeed why would the rest (99.5%) worry about the welfare of top earners?

Anyhow, no particular stance, just the observation that there are a lot more people who will have say £10-30K caught at 50% than the numbers in the £200K bracket. Of course they are also the category who aspire to earning £200K+ (dunno why though - the few people I know in this bracket seem to work like dogs - yuk!)

Surprised how bothered people are about this on HPC - if you are not caught by it then so what? If you are and it increases your already large tax bill. Then, er so what. No Duck Island or only 2 weeks in the Carribean not 3 in 5* hotel not a 6? Not exactly being thrown on the streets is it?

Newsflash - there is a general decline in living standards in the UK why should the highest earners sidestep this?

Maybe its just a general hatred of Labour which is totally understandable.

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That sentence is baffling.

Why is it necessary to take less money in tax?

Not really, tax revenues are falling so Labour expertly put up taxes for the rich to recover the lost tax revenue. What's hard to understand?

Your clearly not a financial genius which is why you aren't a Labour minister.

When the govt finds out 50% doesn't cover the bill, they'll up the top rate to 60% to recover the lost revenue, then 70% but by this point they won't be in power.

Labour spend the money first and then wonder where the money will come from, this is how to run a responsible prudent govt. If only more people understood this basic economic fact we wouldn't be in this mess. Debt is wealth.

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Not really, tax revenues are falling so Labour expertly put up taxes for the rich to recover the lost tax revenue. What's hard to understand?

What's hard to understand is how less tax taken means more revenue. There will be less tax taken from that group of earners because enough of them will divert their WHOLE income to other economies. Also, there will be a rush to taking income as dividends. It's worth doing now when it wasn't before.

Brown knows this, so he's a liar. My point is that most (including the two posters above) haven't noticed.

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What's hard to understand is how less tax taken means more revenue. There will be less tax taken from that group of earners because enough of them will divert their WHOLE income to other economies. Also, there will be a rush to taking income as dividends. It's worth doing now when it wasn't before.

Brown knows this, so he's a liar. My point is that most (including the two posters above) haven't noticed.

It appears you are failing to grasp my sarcasm on the situation? :P

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Think the tune of some on here will change when they are paying 10p in the pound more on income tax, so that the better off can escape scott free (again).

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It was purely political because the revenue is very small, Labour snobbery at it's worst.

Agreed a political gesture as the tax is a drop in the ocean....as always Gordan is a moron

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Surprised how bothered people are about this on HPC - if you are not caught by it then so what?

What bothers me about it is it's yet more meddling in people's lives by Labour for politcal and 'moral' reasons. The chances are the tax take from it will be, at best, minimal, so why do it? To my mind, it's the fiscal policy equivalent of the ban on hunting - pick a tiny section of society that doesn't vote Labour anyway, ****** them about, then sell it as a benefit to the rest. It's just yet another example of the bastards making sure they're being seen to be doing something, rather than actually doing something.

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What bothers me about it is it's yet more meddling in people's lives by Labour for politcal and 'moral' reasons. The chances are the tax take from it will be, at best, minimal, so why do it? To my mind, it's the fiscal policy equivalent of the ban on hunting - pick a tiny section of society that doesn't vote Labour anyway, ****** them about, then sell it as a benefit to the rest. It's just yet another example of the bastards making sure they're being seen to be doing something, rather than actually doing something.

It was a smoke screen to try and hide in the budget how bad things were.

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Think the tune of some on here will change when they are paying 10p in the pound more on income tax, so that the better off can escape scott free (again).

Is that another rich red mist hate policy suggestion buried in there?

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The chances are the tax take from it will be, at best, minimal, so why do it?

It really really will be negative. It's a tax give. It turns tax payers into tax dodgers.

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To my mind, it's the fiscal policy equivalent of the ban on hunting -

You do know people still hunt dont you? They found a very simple work around. Apparently hunting with a bird of prey is still allowed. So the hunt just takes a bird with them, and its business as usual. :lol:

There it is in the first line of the act: "A person commits an offence if he hunts a wild mammal with a dog." Couldn't be clearer. Except there are a further five words in that sentence: "... unless his hunting is exempt." Those five words - and the list of exemptions in schedule one of the act - have been the salvation of hunting. One exemption in particular has been manna to the hunters: "Flushing a wild mammal from cover is exempt hunting if undertaken for the purpose of enabling a bird of prey to hunt the wild mammal." And so hunts have begun using packs of hounds in combination with birds of prey.

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This new rate increase was done for one reason and one reason only. To get the general population used to increases in income tax.

After the next election everyones tax will rise. 25p minimum for everyone.

Debt has to be repaid.

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Is that another rich red mist hate policy suggestion buried in there?

Not really. The tax burden is increasingly falling on a narrower and narrower band. Those lower on the scale get tax credits/benfits. Those higher have the ability to avoid it or move abroad. As a higher middle income earner (as I suspect most on here are) I think I'll be one of those to be worst hit, after the election when this disaster of a government has to be paid for. Looks like I will be forced to move abroad too.

Edited by rover2000

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This new rate increase was done for one reason and one reason only. To get the general population used to increases in income tax.

After the next election everyones tax will rise. 25p minimum for everyone.

Debt has to be repaid.

If this happens, and I agree that it will, won't this accelerate the fall in house prices?

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Let's face it 45% was outrageous. 50% moreso.

Even 20% is a disgrace.

Why we put up with this theft to pay for incompetence I do not know.

A few decades ago Labour took us to 98% taxation for some. I can see that returning.

Then again ducks do need their islands,

It makes me laugh when people celebrate tax cuts - its like thanking a robber for only taking half your belongings and leaving you with some.

And remember we already pay council tax for necessary services, and there is road tax, tv licence, vat...

...rant fades into distance....

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Brown Defends Top Rate Tax Rise, calling it a necessary step to address the growing deficit

Whoever believes that will believe anything. :lol:

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