Alistair Darling to raise income tax rate for top earners

[minestrone]

They can probably get away with 45% and even 50% but there will come a point.

They can put it up as much as they want, the only folk that will move are the people who have truly international earnings. They probably produce 0.0001% of the treasury income just now.

[deano]

In those days tax was 90%, nobody is that stupid to do that again.

There are plenty of people stupid enough to do that again. The unions, the eco-mentalists, the European Commission. The list is endless.

[Doggy Styles]

Its a bit like saying everyone no matter how much they earn should pay the same amount of tax. The poll tax was wrong.

That was not the point. Someone was criticising the Thatcher government for introducing complex legislation, and used the poll tax as an example.

I merely pointed out that the opposite was true - the poll tax was far simpler than the rating system that it replaced.

I also pointed out that it was politically unacceptable. I never said I personally agreed or disagreed with it.

[DodgyAgent]

That was not the point. Someone was criticising the Thatcher government for introducing complex legislation, and used the poll tax as an example.

I merely pointed out that the opposite was true - the poll tax was far simpler than the rating system that it replaced.

I also pointed out that it was politically unacceptable. I never said I personally agreed or disagreed with it.

Fair enough

[Peoplesoft bloke]

I merely pointed out that the opposite was true - the poll tax was far simpler than the rating system that it replac.

I disagree that rates were more complex - I agree politics did for the Poll Tax but Thatcher wasn't persuaded by idealogy - the problem was that councils and courts couldn't keep pace with non payers - if that ain't red tape what is?

[MrMark]

45% at 150K will, at the worst, only marginally affect some high-end contractors.

It won't raise much tax either, but it will win some votes.

With all this extra (borrowed) money swilling around, there's bound to be some inflation. Of course it could be argued that it's better than several years of deflation, but one consequence will be that 150k in 2017 will be the equivalent of 70k now ie a lot more people will earn that much. They won't be able to buy as much as 70k does now (in fact they'll probably buy less) but that's inflation for you. And the govt. of the day (assuming the policy is implemented by an election winning Labour party ha ha) will gladly accept the extra dosh.

You can see why Gordo and Darling have put this forward. It can be presented as a "don't worry we'll save your jobs, plus we'll tax those evil high-earning bankers who got us into this mess". I'm afraid that fear of being without work far outweighs the annoyance of extra taxes.

[expat]

That was not the point. Someone was criticising the Thatcher government for introducing complex legislation, and used the poll tax as an example.

I merely pointed out that the opposite was true - the poll tax was far simpler than the rating system that it replaced.

I also pointed out that it was politically unacceptable. I never said I personally agreed or disagreed with it.

That's awfully logical, making a reasoned point instead of just ranting about what you like or don't like. Are you sure that's allowed?

[ThomasSoerensen]

That's awfully logical, making a reasoned point instead of just ranting about what you like or don't like. Are you sure that's allowed?

Burn him!!!!

[moorfield]

Did anyone else spot the 37.5% top rate on divis in the small print?

[d000hg]

Did anyone else spot the 37.5% top rate on divis in the small print?

What was it before?