50% tax rate is damaging the economy.

[DodgyAgent]

Yes I think taxes should be harmonised, this would prevent jackarses like that French guy and Labour to raise taxes at a whim.

Why not business profits too? And whilst we are at it why not pay everyone the same no matter what they do?

There you are a nice flat playing field - go fill your boots.

[AtW]

Why not business profits too?

Yes Corp Tax should be harmonised also with small variations allowed for local countries, just like VAT but lower range of variations.

[Arturo Bassick]

I take it you have never built or run a business.

What is wrong with spreading the wealth? Why is that a bad thing when growing or running a business? Remember these 500 guys have said they resent having to pay more tax.

[DodgyAgent]

What is wrong with spreading the wealth? Why is that a bad thing when growing or running a business? Remember these 500 guys have said they resent having to pay more tax.

One doesnt go into business to "spread one's wealth". There comes a point when the incentive to build a business simply disappears. I know that if I were drawing more than £150k out of my business I would look at ways of avoiding this tax rather than pay myself this money.

[DodgyAgent]

Yes Corp Tax should be harmonised also with small variations allowed for local countries, just like VAT but lower range of variations.

And income tax too? Council tax?

[Arturo Bassick]

One doesnt go into business to "spread one's wealth". There comes a point when the incentive to build a business simply disappears. I know that if I were drawing more than £150k out of my business I would look at ways of avoiding this tax rather than pay myself this money.

I am not suggesting that is a reason to start a business. You point out that you would look at ways of avoiding paying this tax rather than pay yourself. Surely increasing your employees income or taking on another is one way of doing that? We regularly hear business leaders telling us about top salaries and bonuses attracting the best people. Is the same not true at lower levels? By paying a little more you would incentivise your work force and attract/keep the best able.

[AtW]

What is wrong with spreading the wealth?

Everything if it stops growth of wealth and job creation. People with the money can invest them anywhere now very quickly - Asia is booming and UK isn't exactly very attractive investment target from returns point of view in the first place, having higher taxes only makes things worse.

50% tax won't generate much money anyway because when rich people finally decide to go for serious tax avoidance they won't be doing it to get rates down to 40%, but instead to near 0% with 10% paid to some "scheme provider".

[AtW]

And income tax too? Council tax?

Certainly income tax, council tax is local matter but councils should not really be collecting taxes.

[DodgyAgent]

I am not suggesting that is a reason to start a business. You point out that you would look at ways of avoiding paying this tax rather than pay yourself. Surely increasing your employees income or taking on another is one way of doing that? We regularly hear business leaders telling us about top salaries and bonuses attracting the best people. Is the same not true at lower levels? By paying a little more you would incentivise your work force and attract/keep the best able.

Why on Earth should I pay employees more? I am paying them top rates anyway. I am running a business not a charity.

[Arturo Bassick]

Why on Earth should I pay employees more? I am paying them top rates anyway. I am running a business not a charity.

So you dont think bank bonuses are valid? With that attitude to staff I am sure you are regarded as a great company to work for and get the best out of your staff.