Re: VAT - 15%

On 2008-11-25, Trooper <removethis@xxxxxxxxxxxxxxxxxxx> wrote:
In article <hoadnV6KTrbloLbUnZ2dnUVZ8oadnZ2d@xxxxxxxxxxxx>, m@xxxxx
says...


"Trooper" <removethis@xxxxxxxxxxxxxxxxxxx> wrote in message
news:MPG.2394bc7f96fb127c9898c7@xxxxxxxxxxxxxxxxxxxxxx
In article <769e3c02-cb17-4b39-b64f-3e5156da7d12
@w3g2000yqc.googlegroups.com>, hurricanepilot@xxxxxxxxx says...
On 24 Nov, 11:57, "Beck" <beck@none> wrote:
It will be announced today that VAT on purchases will be reduced to 15%
to
help promote spending.
It will be a temporary measure but how likely is it that stores will
pass on
the savings to customers?


High earners are over £150k a year and will have to pay 45% on anything
above that.

Well... they won't, as this isn't due to be introduced till after the
general election, which I will be extremely surprised if Labour win.

T.

But there's also a 0.5% NI raise that comes in at the same time too isn't
there...

If you earn over £20k pa then this will eek back some extra tax. This is
really a tax on middle to high earners to give some cash back to the 'poor'.
Typical redistribution of wealth type stuff.

I don't know why they don't do more obvious things like preventing loopholes
allowing rich celebs etc to work here and go live abroad just to avoid
paying UK taxes (like Hamilton 'avoiding' over £4m in tax per year by moving
to Switzerland).

Mr. Brown has been very good over the years at fleecing us. This is just
more of the same...



Indeed, the 0.5% increase will hit everyone, the 2p increase in fuel
duty will hit everyone, the 45% tax band may look like it only hits the
rich, but then even more high earners take their money out of the UK and
it hits everyone.

I'm nowhere near the £150k level, but even I can see that high taxes for
higher earners isn't good for the economy. But people who earn more
should pay more I hear people cry! They already do, that's how
percentages work :D

Yeah! I mean, have a look at the US for an example of just how well that whole
low-taxes-for-the-rich trickle-down Reaganomics really works! Oh, wait.

Chris
--
Gamertag/Steam ID: parm * BRING BACK BLUE SKY IN GAMES *

"Back when I was young, we had to travel back in time to put the tape in so
the game would load before we died."
.

Relevant Pages

  • Re: VAT - 15%
    ... This is really a tax on middle to high earners to give some cash back to the 'poor'. ... Indeed, the 0.5% increase will hit everyone, the 2p increase in fuel duty will hit everyone, the 45% tax band may look like it only hits the rich, but then even more high earners take their money out of the UK and it hits everyone. ... I'm nowhere near the £150k level, but even I can see that high taxes for higher earners isn't good for the economy. ...
    (uk.games.video.misc)
  • Re: VAT - 15%
    ... really a tax on middle to high earners to give some cash back to the 'poor'. ... Indeed, the 0.5% increase will hit everyone, the 2p increase in fuel ... that'll make a massive difference to the already slashed prices in ...
    (uk.games.video.misc)
  • Re: "Do not worry when the lunatics take over the asylum - the time to be concerned is when they
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  • Re: "Do not worry when the lunatics take over the asylum - the time to be concerned is when they
    ... use all the panoply of tax loopholes to minimise their tax ... proportion of their income in taxes ... And the main reason for that is, as you say, that the high earners ...
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  • Re: Tax doesnt have to be taxing.
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