Top rate of tax raised to 75%

[scooterscot]

Is it not worth mentioning that this tax only activates after €1,000,000?

In the eyes of many if you can earn up to that much in the first place you be set for life.

[AtW]

Is it not worth mentioning that this tax only activates after €1,000,000?

Aye.

Hands up who would totally hate it to pay 75% tax on earnings above 1 mln euros per year?



Now I do think it's too high, but it should also be mentioned that it is a TEMPORARY tax for 2 years. They are fully aware that with longer tax people will move.

[Doggy Styles]

Here is what UK had in 1971 - "In 1971 the top rate of income tax on earned income was cut to 75%. A surcharge of 15% kept the top rate on investment income at 90%."

Would you blame this on cold war?

No, socialists.

It was you who mentioned the 99.xx% tax during the war, and I was responding to that. Keep to the plot old chap.

[Bunk]

Aye.

Hands up who would totally hate it to pay 75% tax on earnings above 1 mln euros per year?



Now I do think it's too high, but it should also be mentioned that it is a TEMPORARY tax for 2 years. They are fully aware that with longer tax people will move.

And with it being temporary, people earning that kind of money will just work out a way to defer it until taxes go back down.

[AtW]

It was you who mentioned the 99.xx% tax during the war, and I was responding to that. Keep to the plot old chap.

99.25% tax is pretty crazy even if it was Inter-Galactic War. Who was in charge during the war here - socialists?

[AtW]

And with it being temporary, people earning that kind of money will just work out a way to defer it until taxes go back down.

Aye, those who can will defer (or pay in advance) for sure - same as it happened with 50% tax here which was estimated to have raised FA compared to declared target.

[Doggy Styles]

99.25% tax is pretty crazy even if it was Inter-Galactic War. Who was in charge during the war here - socialists?

The National government, a coalition of all parties. We were at war.

[hyperD]

And with it being temporary, people earning that kind of money will just work out a way to defer it until taxes go back down.

WHS.

Political grandstanding. Those that have that wealth never do pay that amount.

Remember these are political parasites. They don't give a tulip about important stuff, only their next re-election. If you said you want to abolish politics they'd still enthusiastically endorse it if it meant they'd still be on their gravy train and you'd bung 'em a rent boy in the mix.

It's in their DNA. They can't help it.

The sort of individual that declares they want to be a politician should automatically be barred from ever becoming one.

[AtW]

The National government, a coalition of all parties. We were at war.

So it's ok to have 99.25% income tax so long as country is at war? Interesting you say word "coalition", so presumably they had to agree on some middle point for taxation - 99.25%, what do you reckon Cons wanted to set it to - 99.05%, but Labour insisted on 99.50%, so they got 99.25% in the end!??!?!

And what did the National Govt do to tax cheats during those years?

German was also at war at the time, interesting that "The top personal income tax rate in 1941 was 13.7% in Germany as opposed to 23.7% in Great Britain."

Economy of Nazi Germany - Wikipedia, the free encyclopedia

I can't actually remember the tax rate in Soviet Union as I did not work, actually I don't think there was one at all, that's right - 0% income tax - there were some effective compulsory union membership payments but they were small.

[KentPhilip]

I can't actually remember the tax rate in Soviet Union as I did not work, actually I don't think there was one at all, that's right - 0% income tax - there were some effective compulsory union membership payments but they were small.

I suspect that's because there there was 0% pay.