Labour would re-introduce the 50p tax rate

[minestrone]

Somebody somewhere must have some plan involving a flashy light in an underpass and a pissed up chauffeur.

Under no circumstances must Balls be part of a governing party and that must be entirely realised in certain circles.

[d000hg]

That rings no bells at all d00000000000000000000000000gh and cannot find in search. Link please or I shall accuse you of making things up.

Religious sorts making things up, that will be a first!

If you mean the fact it seemed to be quoting you, that was unintentional. I think I was quoting you and deleted the quote but left the opening quote tag!

Those are my words not yours

[d000hg]

Why wouldn't it disincentivise it when you can go work abroad and with less tax, in nicer climes? It's not like the world outside Britain is some post-apocalyptic nightmare. I object to it both in principle and in practice.

Moving country is a very big step for most people. An extra 10% on what you earn above £150k mightn't be enough of a push for most.

[Zero Liability]

Moving country is a very big step for most people. An extra 10% on what you earn above £150k mightn't be enough of a push for most.

You can get a lot of assistance moving nowadays, and some countries welcome skilled professionals with open arms. It's not as hard as it's made out to be. You can apply this logic all the way through incremental 10% increases. Then there's the fact that it will discourage high earners from other regions (including students who might've otherwise stayed here, British or otherwise) from coming here, at all.

Of course this is all from the government's money-grabbing point of view, and it is scarcely the only 'stakeholder' involved. I fail to see why this income should be taxed at 50%, simply so the government can remedy its own past profligacy (which it won't, anyway.) In fact, the only direction I support taxes going, across the board, is all the way down. Its deficit and debt is its problem and it can figure out whether it's worth fleecing its population simply because past politicians made promises they knew they could not keep. Maybe forcing it on a reduced income (and closing the option of central bank financed borrowing) will make it think about how to actually tackle the problem in question, which may include debt repudiation.

[d000hg]

I didn't say it was hard to do (although it can be depending where you want to go), I said it was a big step. I don't believe the majority of people would normally consider moving country at all - although possibly the kind of people earning this much might be a demographic who would consider it more easily?

[AtW]

Moving country is a very big step for most people. An extra 10% on what you earn above £150k mightn't be enough of a push for most.

It's might be enough for somebody making £20-30 mln

[vetran]

The New Lie Salted the earth before they got thrown out.

[Platypus]

that's the only thing that would really matter (to people with brains), and he'll be able to show it right before election in budget 201.

Tory Tax Cut for the Rich is what people will remember and vote on, not some dry speech in the house where people won't believe him anyway and assume he's fudged the numbers.

Get real.

[d000hg]

It's might be enough for somebody making £20-30 mln

Oh they might not really care because they're making £30mln

Tory Tax Cut for the Rich is what people will remember

True. However they already reduced it and (I think) got away with it. The Tories aren't proposing to drop that new tax tier altogether, are they?

[AtW]

Tory Tax Cut for the Rich is what people will remember and vote on, not some dry speech in the house where people won't believe him anyway and assume he's fudged the numbers. Get real.

It all depends on what happens with the economy in the next 12 months.

The Tories aren't proposing to drop that new tax tier altogether, are they?

They would have dropped it if it wasn't for Cleggy.

If 45% brings in more money than 50% then it's likely it will go down later to 40% at some point, assuming Tories win.