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Osborne: People Like Paying 40% Tax

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Deserves a thread of its own.

MPs at the meeting reacted with horror when he told them: ‘Let’s not forget there are advantages in more people paying tax at 40p.

‘It means they feel they are a success and joining the aspirational classes.

'That means they are more likely to think like Conservatives and vote Conservative.

'If they are paying 40p tax they have a greater interest in cutting Government spending because they are paying for it. All the polling evidence suggests I am right.’

Read more: http://www.dailymail.co.uk/news/article-2581860/Osborne-People-paying-40p-tax-feel-joining-aspirational-classes-success-Tory-MPs-accuse-Chancellor-insulting-middle-earners.html#ixzz2wD7FNLRh

Labour rightly took a lot of stick for a relentless pursuit of its client State, and here is Osborne attempting to create one himself. Extraordinary statement which should be good to bring up on the doorsteps if confronted by a Tory canvasser.

Maybe they just think you're an idiot George.

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Yes, he has a certain logic.

Then the fools criticising say something STUPID like this.

Another added: ‘The 40p rate may not affect the millionaire son of a baronet like Mr Osborne but it is killing hard-working people who earn around £40,000. It was an insult and shows how out of touch this Government has become.’

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Conservative MPs were stunned when the Chancellor made the explosive remark at a secret meeting at his Downing Street office, the contents of which have been leaked to The Mail on Sunday.

They must have been utterly shocked with the sudden realisation "that's the Chancellor of the Exchequer? :o - impossible" - but then it would be "well MacDevastator was the same".

Edited by billybong

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I swear Osborne and Cameron have adopted the Foot manifesto from 1983 - aka the longest suicide note in history! Nationalise the banks, builders and public utilities. Institute colossal public works programs. Introduce a prices and incomes policy while taxing the hell out of the middle class. Europe is perhaps the only material difference. The New Tories' slavish devotion to internationalism is much, much further to the Left than Foot and Kinnock ever were!

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Deserves a thread of its own.

Labour rightly took a lot of stick for a relentless pursuit of its client State, and here is Osborne attempting to create one himself. Extraordinary statement which should be good to bring up on the doorsteps if confronted by a Tory canvasser.

Maybe they just think you're an idiot George.

Yeah, lots of rich people proudly boast of paying the 40p or even 45p rate, and don't even think of engaging in elaborate tax avoidance schemes to get around it..

Besides, doesn't he know that the dinner party boast (outside London, anyway) is the 'complaining about having to do a tax return due to child benefit rules' gambit. *Everyone* pays the higher rate these days darling, it's like shopping in Waitrose..

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If only it was 40%. I'm in that income tax band but my effective marginal tax rate is over 63%. (Allowing for national insurance and child benefit removal).

I guess I should feel even more aspirational at 63%.

In practice, it kills all aspirations. I have turned down higher paying job offers since it's just not worth it any more. I just cut my spending and dump as much as possible into pension via salary sacrifice in the hope that I can get most of it back at ~15% marginal rate instead (20% basic rate less 25% tax-free with no NI to pay).

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People in the UK seem to accept tax ( and most other things ).

Sure, we all should pay something to allow society to run smoothly but the levels at which the UK government is taxing us is nothing short of out and out theft

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If only it was 40%. I'm in that income tax band but my effective marginal tax rate is over 63%. (Allowing for national insurance and child benefit removal).

I guess I should feel even more aspirational at 63%.

I wish I was you.

it's strange how the rich aspire to pay no tax.

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People in the UK seem to accept tax ( and most other things ).

Sure, we all should pay something to allow society to run smoothly but the levels at which the UK government is taxing us is nothing short of out and out theft

or about £100bn p.a. less that it ought to be, depending where you stand.

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I wish I was you.

it's strange how the rich aspire to pay no tax.

I personally would be happy to pay 50% tax if I were rich. However

a) I think more would be taking the mick.

B) IMHO rich should mean that I can afford to buy more than an average house in London which would mean that the top rate should start at 200k p.a. (or have cheaper houses).

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People in the UK seem to accept tax ( and most other things ).

Sure, we all should pay something to allow society to run smoothly but the levels at which the UK government is taxing us is nothing short of out and out theft

It's not so much the amount as the injustice - people see a 'rich' class who pay relatively little tax due to avoidance schemes.

Plus, because politicians are terrified of actually raising specific tax rates, they come up with stealth taxes, or tax band creep, or things like tuition fees, or child benefit withdrawal that actually make things worse.

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Frankly he's right. And he'll have the research to prove it. Just very stupid being caught saying it in public.

be he does not , he avoided pay tax a few years ago

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be he does not , he avoided pay tax a few years ago

what he meant was 40% focuses the mind and is the basis of billions of Industry jobs in the Tax avoidance Area. This is the main reason the City of London is a World Wide Leader..we are at the very heart of Tax Avoidance...all 100% legal and backed by the UK taxpayer of course.

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Don't fall for the LibLabCon one party state folks.

Next election:

1. Record amounts of abstentions.

2. Record amounts of spoilt ballot papers.

If we are going to have a Putin style charade democracy lets have some more convincing actors to vote for.

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No surprise here.

The truth is the Tories have no more been a tax cutting party than Labour even in the days of Nigel Lawson.

Instead it was all about distributing that burden around different sections of the population.

Now they don't even bother with the pretence of tax cutting for the masses since people increasingly are aware that our political system is more about patronage than productivity and that the taxation systems prime purpose is to provide the wherewithal for political parties to reward their client base and in particular those that fund them. The system is all about buying political influence so your company or friends can put their hands in the taxpayers pocket or frame government legislation to your advantage

Edited by stormymonday_2011

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Frankly he's right. And he'll have the research to prove it. Just very stupid being caught saying it in public.

I wonder to what extent the existence of a higher rate (45 or 50%) undermines this effect? Income tax rates seem to be more about policial dividing lines than anything else.

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