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Mandleson To Reconsider 50p Tax Rate

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http://www.telegraph.co.uk/news/newstopics...razzmatazz.html

Lord Mandelson also indicated that Labour is planning tax rises to rein in Britain’s £175 billion budget deficit.

Asked whether he believed that voters would be prepared to pay higher tax to maintain good quality public services, he said: “If it's fair and if it falls reasonably on everyone’s shoulders who can afford to pay fair tax, in particular those who are the wealthiest in society.â€

He also hinted that the threshold for Labour's controversial new 50p top rate of tax on those earning £150,000 a year or more may have to be reconsidered.

Mandleson has obviously been meeting with the banksters and vetinarians. If he decides to reverse the 50p rate it will save the wealthy a lot of money at least.

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I despair at the thought of giving a Torys another government, but at least it will see the end of this unelected kunt making labour policy statements. After this triple whammy of Labour shock and awe terms, with wholesale pillaging and stripping the citizenry of its rights, and now seeing our once leading international standing rapidly descend into banana republic status, it leaves us no choice.

Am I the only one who finds Mandelsons appearance outside of the Lords disturbing? Nobody voted for him, and he has no right to sit up front with the lower house and talk shop.

Unfortunately he's set a precedent and it wouldn't surprise me in the least if a Tory lord or two make their moves to run the show, especially as Cameron has zero credibility, maybe even less than zero because of his poor choice to keep the silver spooned Osbourne devil at his heels.

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I despair at the thought of giving a Torys another government, but at least it will see the end of this unelected kunt making labour policy statements. After this triple whammy of Labour shock and awe terms, with wholesale pillaging and stripping the citizenry of its rights, and now seeing our once leading international standing rapidly descend into banana republic status, it leaves us no choice.

Am I the only one who finds Mandelsons appearance outside of the Lords disturbing? Nobody voted for him, and he has no right to sit up front with the lower house and talk shop.

Unfortunately he's set a precedent and it wouldn't surprise me in the least if a Tory lord or two make their moves to run the show, especially as Cameron has zero credibility, maybe even less than zero because of his poor choice to keep the silver spooned Osbourne devil at his heels.

We have (had?) an Attorney General in the same unelected position. Democracy and accountability to Parliament has certainly taken some severe blows under the Brown (Mandleson) regime.

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We have (had?) an Attorney General in the same unelected position. Democracy and accountability to Parliament has certainly taken some severe blows under the Brown (Mandleson) regime.

Mandy is pulling away now and will be in charge very soon

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Mandleson has obviously been meeting with the banksters and vetinarians. If he decides to reverse the 50p rate it will save the wealthy a lot of money at least.

Not really, you can get a one way flight to Switzerland for under £100.

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Mandleson has obviously been meeting with the banksters and vetinarians. If he decides to reverse the 50p rate it will save the wealthy a lot of money at least.

Reverse? I read that as he could revise the threshold, lower, perhaps to £100k to bring it in line with the level at which the personal allowance starts to be eroded...!! :angry:

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He also hinted that the threshold for Labour's controversial new 50p top rate of tax on those earning £150,000 a year or more may have to be reconsidered. [/i]

Mandleson has obviously been meeting with the banksters and vetinarians. If he decides to reverse the 50p rate it will save the wealthy a lot of money at least.

What is that slimeball DOING in the labour party??

If I vote labour it's because I want the rich taxed to pay for the general good of society (which implies redistribution), and I want the well-off restrained a bit in their quest to squeeze more out of the poor/middle class.

If I wanted a government that favored the rich and the big corporations, I'd vote Tory.

(I can understand people disagreeing with the policies, but you might agree that having political parties that actually did what they said on the tin would help).

But I think that Mandleson could help Brown get re elected. For instance, Mandelson could stand up to give a speech, and halfway through, Brown could come up behind him with a sharpened spade and beat his brains out in a frenzied attack. I'd vote for that.

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http://www.telegraph.co.uk/news/newstopics...razzmatazz.html

Lord Mandelson also indicated that Labour is planning tax rises to rein in Britain’s £175 billion budget deficit.

Asked whether he believed that voters would be prepared to pay higher tax to maintain good quality public services, he said: “If it's fair and if it falls reasonably on everyone’s shoulders who can afford to pay fair tax, in particular those who are the wealthiest in society.â€

He also hinted that the threshold for Labour's controversial new 50p top rate of tax on those earning £150,000 a year or more may have to be reconsidered.

Mandleson has obviously been meeting with the banksters and vetinarians. If he decides to reverse the 50p rate it will save the wealthy a lot of money at least.

He didn't say he was considering reversing it.

As I said on another thread it is more likely and logical to apply it to all currently in the 40% bracket

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This 50p thing makes no sense. Hardly anyone will pay it.

Also, getting rid of the allowance between 100-110k gives a huge marginal tax rate and will be harder to calculate.

Instead they should go after the loop holes and lower taxed 'profits'

Dividends and capital gains should be taxed at least the same as wages (IT + NIC + ENIC). In the case of divds, the

tax credit should equal the actual corp tax paid, but it would still be higher.

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Not really, you can get a one way flight to Switzerland for under £100.

Yeah, but the real trick is to send the money to Switzerland, while you go bankrupt in the UK, claiming you spent it all on whores and coke.

But I think that Mandleson could help Brown get re elected. For instance, Mandelson could stand up to give a speech, and halfway through, Brown could come up behind him with a sharpened spade and beat his brains out in a frenzied attack. I'd vote for that.

+1. (To the whole post, but that was the funny bit).

This 50p thing makes no sense. Hardly anyone will pay it.

Yeah, my guess is they will dump the NI ceiling instead.

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He didn't say he was considering reversing it.

As I said on another thread it is more likely and logical to apply it to all currently in the 40% bracket

I agree. We can't underestimate how much trouble they're in and that there's very few alternatives.

- big cuts in spending on NHS, education and welfare - they'd lose the few voters they have

- increase stamp duty, council tax - HPC!

- increase VAT - they'd look stupid for cutting it in the first place

- increase corp tax, NI - business paying far too much already and so easy to move somewhere else.

So just leaves income tax. 10% more for nearly everyone, but I think that raises less than 20bn, which is

not much more than the monthly deficit.

.... scary times.

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Guest KingCharles1st
I despair at the thought of giving a Torys another government, but at least it will see the end of this unelected kunt making labour policy statements. After this triple whammy of Labour shock and awe terms, with wholesale pillaging and stripping the citizenry of its rights, and now seeing our once leading international standing rapidly descend into banana republic status, it leaves us no choice.

Am I the only one who finds Mandelsons appearance outside of the Lords disturbing? Nobody voted for him, and he has no right to sit up front with the lower house and talk shop.

Unfortunately he's set a precedent and it wouldn't surprise me in the least if a Tory lord or two make their moves to run the show, especially as Cameron has zero credibility, maybe even less than zero because of his poor choice to keep the silver spooned Osbourne devil at his heels.

I bet anyone fiver that within a few weeks of reopening of Parliament, that Cuntelson will be taking P.M.Q.T.

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I bet anyone fiver that within a few weeks of reopening of Parliament, that Cuntelson will be taking P.M.Q.T.

I can't wait until next weeks conference. I wonder which warm up act he'll drag on stage before he appears this time.

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He didn't say he was considering reversing it.

As I said on another thread it is more likely and logical to apply it to all currently in the 40% bracket

yup.

the clear implication is that he wants to keep the 50% but scrap the £150k, perhaps in favour of something closer to, er, who knows... £60k??

that was always the drawback with the new 50% band, it was jolly fair and everything, only right that very higher earners make a higher contribution, but unfortunately there are so few people who earn that much [none of whom were ever going to vote labour, of course] that it was never going to raise any real dosh, making it worthless.

an increse to 45%, or even, say, 42% at the existing top rate threshold would raise vastly more money...

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Is they tax the higher earners then they wont be able to afford 3 bed semis to live in !!! :lol:

It looks like a decade of paying down debt to me. Govt and personal.

Disposable income and standard of living will drop for many people.

HPC is certain ...... but over what time scale.

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We have (had?) an Attorney General in the same unelected position. Democracy and accountability to Parliament has certainly taken some severe blows under the Brown (Mandleson) regime.

There have not been more more unelected Government ministers (i.e. members of the House of Lords) since Lord Salisbury's administration.

Edited by The Ayatollah Bugheri

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Guest P-Diddly
I despair at the thought of giving a Torys another government, but at least it will see the end of this unelected kunt making labour policy statements. After this triple whammy of Labour shock and awe terms, with wholesale pillaging and stripping the citizenry of its rights, and now seeing our once leading international standing rapidly descend into banana republic status, it leaves us no choice.

Am I the only one who finds Mandelsons appearance outside of the Lords disturbing? Nobody voted for him, and he has no right to sit up front with the lower house and talk shop.

Unfortunately he's set a precedent and it wouldn't surprise me in the least if a Tory lord or two make their moves to run the show, especially as Cameron has zero credibility, maybe even less than zero because of his poor choice to keep the silver spooned Osbourne devil at his heels.

In an email from an elderly relative who's been a life long Labour supporter,

"Some parts of the country are beautiful but the regime is awful. Old and corrupt."

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This 50p thing makes no sense. Hardly anyone will pay it.

It's actually reckoned that the 50p rate will reduce the income tax take (since you need 40 people earning £250,000 p/a to make up for the 1 person earning £1,000,000 p/a who moves to Switzerland as a result).

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I despair at the thought of giving a Torys another government, but at least it will see the end of this unelected kunt making labour policy statements. After this triple whammy of Labour shock and awe terms, with wholesale pillaging and stripping the citizenry of its rights, and now seeing our once leading international standing rapidly descend into banana republic status, it leaves us no choice.

Am I the only one who finds Mandelsons appearance outside of the Lords disturbing? Nobody voted for him, and he has no right to sit up front with the lower house and talk shop.

Unfortunately he's set a precedent and it wouldn't surprise me in the least if a Tory lord or two make their moves to run the show, especially as Cameron has zero credibility, maybe even less than zero because of his poor choice to keep the silver spooned Osbourne devil at his heels.

Everyone on here should watch Cleggs speech from yesterday and then post on here what they DON'T agree with.

For the life of me, i cant understand why the Libs are getting laughed at.

WHERE is the competition?

Ive watched the "mansion" owning media ridicule them for 3 days. Says it all.

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Sure fire way to the third world, tax the wealth creators to emigration.

Beyond stupid.

When was the last time you heard a politician talk about wealth creation, not very often. Don't see it as part of anyones's manifesto. Strange really as wealth creation should be right up there as the hot topic, as without it the only way to increase public spending is to borrow, and we all know where that leads.

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Everyone on here should watch Cleggs speech from yesterday and then post on here what they DON'T agree with.

For the life of me, i cant understand why the Libs are getting laughed at.

WHERE is the competition?

Ive watched the "mansion" owning media ridicule them for 3 days. Says it all.

Cleggs speech was very good. LibDems could become a option. In previous elections they've been

all over the place and come up with pledges I couldn't agree with.

In the last election they were talking of replacing council tax with local income tax. To me, that means

the rich stay rich and the poor can never become rich. It's a big switch to now talk of a mansion tax.

Personally I think council tax should be replaced by a house tax 0.5%-1% per year paid to central govt.

I realise there's some issues that need to be addressed, but it could work. At the moment I pay hardly

any council tax, yet my area is no worse than somewhere that pays loads - why the difference? Can't

be all efficient council, more likely uneven distribution from central govt.

I also agree that no-one making less than 10k should be paying tax.

Govt need to look at divds, share options, capital gains etc. That's where all the rich get their money from

and in many cases pay very little tax.

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Sure fire way to the third world, tax the wealth creators to emigration.

Beyond stupid.

When was the last time you heard a politician talk about wealth creation, not very often. Don't see it as part of anyones's manifesto. Strange really as wealth creation should be right up there as the hot topic, as without it the only way to increase public spending is to borrow, and we all know where that leads.

In my world, the wealth creators are those doing traditional capitalist things - starting businesses, growing businesses, etc. Without forgetting the engineers and scientists who actually design and make new stuff. The 50p tax isn't going to hit them too hard, since either the main value will come through capiutl growth, or wages will be far below the threshold.

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Everyone on here should watch Cleggs speech from yesterday and then post on here what they DON'T agree with.

For the life of me, i cant understand why the Libs are getting laughed at.

WHERE is the competition?

Ive watched the "mansion" owning media ridicule them for 3 days. Says it all.

I especially liked the bit where he said that people who make it BIG should be respected. What an imbecile. Oh Mr Banker, have some more tax payers money, make it BIG. We respect you.

Oh yeah, and what's the deal with taxing people who take more than two long haul flights a month?

Edited by Minos

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