50p tax just spin from ultra rich

Money, investing, mutuals etc

50% tax

You may select 1 option

 
 
View results

magnificent7
Posts: 7569
Joined: Fri Dec 03, 2010 9:48 pm
Has thanked: 260 times
Been thanked: 386 times

50p tax just spin from ultra rich

Post by magnificent7 » Wed Sep 07, 2011 12:24 pm

the ultra rich have hired a PR firm Westbourne to get the tax scrapped. they just had an article published in financial times saying best to scrap it. i agree with unions who say the call to axe the 50p rate is "monstrously unfair" while spending cuts bite.

BBC article: http://www.bbc.co.uk/news/business-14810323

whos right and whos wrong?
Last edited by magnificent7 on Wed Sep 07, 2011 1:09 pm, edited 1 time in total.

kevinchess1
Posts: 21872
Joined: Mon Jun 28, 2010 11:02 pm
Location: Miles away from the sea
Has thanked: 10912 times
Been thanked: 14929 times
Contact:

Re: 50p tax just spin from ultra rich

Post by kevinchess1 » Wed Sep 07, 2011 12:33 pm

As somene who has never paid/will be payin 50% I'm in favour of it
Especially in these harsh econimc times
I'm old enough to remember when the top tate of Tax was 83% and the basic was 35%
So bring it on
Thanked by: magnificent7
Politically incorrect since 69

superman
Posts: 7377
Joined: Wed Mar 23, 2011 10:07 pm
Has thanked: 269 times
Been thanked: 354 times

Re: 50p tax just spin from ultra rich

Post by superman » Wed Sep 07, 2011 12:40 pm

i get the feeling they are using their power+influence+money+contacts to get a result in their favour.
Thanked by: kevinchess1

devils advocate
Posts: 2
Joined: Wed Sep 07, 2011 12:42 pm
Has thanked: 1 time
Been thanked: 2 times
Contact:

Re: 50p tax just spin from ultra rich

Post by devils advocate » Wed Sep 07, 2011 12:45 pm

Ooh, I loves a good debate I do. Saw this topic and couldnt resist signing up!

Can I ask those who are opposed to dropping the 50% rate - would you still be opposed on principle even if it were shown that reducing the rate from 50% to 40% would generate more long term tax revenue? And were you against the dropping of the rate from 60% to 40% under Nigel Lawson (ahem, if you remember that far back!) :?
Thanked by: magnificent7, kevinchess1

magnificent7
Posts: 7569
Joined: Fri Dec 03, 2010 9:48 pm
Has thanked: 260 times
Been thanked: 386 times

Re: 50p tax just spin from ultra rich

Post by magnificent7 » Wed Sep 07, 2011 12:58 pm

devils advocate wrote:Ooh, I loves a good debate I do. Saw this topic and couldnt resist signing up!

Can I ask those who are opposed to dropping the 50% rate - would you still be opposed on principle even if it were shown that reducing the rate from 50% to 40% would generate more long term tax revenue? And were you against the dropping of the rate from 60% to 40% under Nigel Lawson (ahem, if you remember that far back!) :?
my pleasure. for your convenience i have added a poll

DO NOT forget to fill out your shareholder registration

kevinchess1
Posts: 21872
Joined: Mon Jun 28, 2010 11:02 pm
Location: Miles away from the sea
Has thanked: 10912 times
Been thanked: 14929 times
Contact:

Re: 50p tax just spin from ultra rich

Post by kevinchess1 » Wed Sep 07, 2011 1:35 pm

devils advocate wrote:Ooh, I loves a good debate I do. Saw this topic and couldnt resist signing up!

Can I ask those who are opposed to dropping the 50% rate - would you still be opposed on principle even if it were shown that reducing the rate from 50% to 40% would generate more long term tax revenue? And were you against the dropping of the rate from 60% to 40% under Nigel Lawson (ahem, if you remember that far back!) :?

And how could you show/prove that :?:

No doubt by payin Managenment consultants £1000000000000 to ask their mates what they thought

As i stated I remeber Tax rates bac to the 70s and then they were far too hi and complex

Anyway didn't Alistar Darleen say it would only be a temporay thing?
Politically incorrect since 69

vispif
Posts: 352
Joined: Tue Feb 08, 2011 2:54 pm
Has thanked: 76 times
Been thanked: 130 times
Contact:

Re: 50p tax just spin from ultra rich

Post by vispif » Wed Sep 07, 2011 1:53 pm

I have never paid more than 20% in tax and believe even 20% is too high. I prefer that the Income Tax should be scrapped completely and instead the VAT increased to 30% or so on all items except Food and utilities where it should be 0%.

This will have a number of benefits

a) Help the people who save as they will need to pay less taxes
b) The ultra rich and foreign tourists will pay a higher share
c) Today the rich pay low taxes in foreign countries and stay in the UK. This will do away for their need to maintain a foreign domicile and hence spend more in the UK
d) Poor people will pay less if they do not indulge in luxaries as there will be 0% tax on food and utilities

1960mackem
Posts: 2538
Joined: Sun Jul 11, 2010 2:53 am
Has thanked: 1219 times
Been thanked: 1755 times
Contact:

Re: 50p tax just spin from ultra rich

Post by 1960mackem » Wed Sep 07, 2011 2:06 pm

kevinchess1 wrote:As somene who has never paid/will be payin 50% I'm in favour of it
Especially in these harsh econimc times
I'm old enough to remember when the top tate of Tax was 83% and the basic was 35%
So bring it on
I'd be happy to pay 50% if I was earning that much

I also remember Black Wednesday (16/09/1992) - interest rates jumping to 15% :shock:

rayf
Posts: 1495
Joined: Fri Nov 12, 2010 8:50 pm
Has thanked: 374 times
Been thanked: 604 times
Contact:

Re: 50p tax just spin from ultra rich

Post by rayf » Wed Sep 07, 2011 5:15 pm

unfortunately the only people that would have 50% are those that can find a way to avoid it - even if this means leaving the country

last time they did this (about 40 years ago), thousands of our best entreprenaurs and businesses went abroad and it had a major negative effect on the country

I wish I was in a position to pay 50% but I do appreciate that most people that are have done something to earn it - like it or not - 40% of a lot of money is better than 50% of nothing

Ealdwulf
Posts: 180
Joined: Wed Jul 13, 2011 2:01 pm
Has thanked: 23 times
Been thanked: 49 times
Contact:

Re: 50p tax just spin from ultra rich

Post by Ealdwulf » Wed Sep 07, 2011 5:22 pm

I think they should leave th 50p and abolish inheritance tax instead.

Post Reply

Who is online

Users browsing this forum: No registered users and 0 guests