It does seem like a good idea in theory
In practice would this bring in less or more tax based on the incomes now?
( sporters I’m sincerely gratitude to you, Tue 10 Jan 2012, 13:48, 3 replies, latest was 14 years ago)

In practice it will cripple the economy
one of the few advantages of a complex taxation system is that it supports the careers of tens of thousands of tax accountants and lawyers. Whilst you can argue for ever about the relative merits of that, they then pay taxes, spend money in the country and so on and so forth.
( the mighty badger Aphrodite, on a bar stool, by your side, Tue 10 Jan 2012, 13:50, Reply)

I don't generally say this sort of thing
but fuck them, leeches.
(PsychoChomp, Tue 10 Jan 2012, 13:54, Reply)

like I said, that can be debated for ever
however, they are jobs. jobs mean taxes and money spent within our economy. Which is good. Losing them would be bad. Primary School Economics 101.
( the mighty badger Aphrodite, on a bar stool, by your side, Tue 10 Jan 2012, 13:57, Reply)

A tax lawyer earning £150k will be paying about £60k in tax
To be hired they'll be at least saving their clients more in tax than their wage so gain at least £150k lose £60k and the cost to put them on jobseekers. I could live with that.
(PsychoChomp, Tue 10 Jan 2012, 14:02, Reply)

I think the idea is that if it's streamlined simple and low
then it may bring in less money but it'll save on administration costs fraud and waste which will make up and keep the amount of tax revenue basically static.
(PsychoChomp, Tue 10 Jan 2012, 13:51, Reply)

Or, you know, they could just make Vodafone and the like pay what they really owe.

( scarpe We Stole Bikes, Tue 10 Jan 2012, 13:52, Reply)

Careful, your principals are showing

( CQ Knows the truth, all of it., Tue 10 Jan 2012, 13:54, Reply)

Fuck. I don't like to let than happen round these parts.

( scarpe We Stole Bikes, Tue 10 Jan 2012, 14:00, Reply)

Stay strong brother, I'll take the heat on this one.

( CQ Knows the truth, all of it., Tue 10 Jan 2012, 14:03, Reply)

Well they don't legally owe anything because they've abused the loopholes in such a way they don't have to pay what they owe.
They've obeyed the letters of the law so any tax claim will be overturned in court.
(PsychoChomp, Tue 10 Jan 2012, 13:56, Reply)

I don't think that's strictly true.
They have a case to answer and for some unknown reason, no one is even trying to test it.
( scarpe We Stole Bikes, Tue 10 Jan 2012, 14:00, Reply)

This is the difference between avoidance and evasion
if people can leaglly avoid, go for it, if I had the resources I would.
( Naked Ape call me Caitlyn, Tue 10 Jan 2012, 14:13, Reply)

For the highest return from income tax you need to tax the low to middle earners more
There are far more of them than high income earners.
The downside of this being that it is incredibly unfair.
( tangledupinblue hairy badge with moving eyes, Tue 10 Jan 2012, 13:52, Reply)

also, they are much less likely
to be able to afford to pay someone to work out how to get them out of it.
( the mighty badger Aphrodite, on a bar stool, by your side, Tue 10 Jan 2012, 13:53, Reply)

Not really true about 50% of income tax revenue comes from the top 10% of earners.
But you're not going to realistically squeeze much more out of them.
(PsychoChomp, Tue 10 Jan 2012, 13:57, Reply)

I'm sure* I read somewhere
that if you added 10% onto lower earners tax rates rather than higher earners you would generate more revenue.

*not entirely sure
( tangledupinblue hairy badge with moving eyes, Tue 10 Jan 2012, 14:01, Reply)

Have you been reading City AM again?

( scarpe We Stole Bikes, Tue 10 Jan 2012, 14:04, Reply)

Watching TVAM
Frank Bough and Anne Diamond taught me everything I know.
( tangledupinblue hairy badge with moving eyes, Tue 10 Jan 2012, 14:10, Reply)

Which explains why you are a masochistic coke freak with a yo-yoing weight problem?

( scarpe We Stole Bikes, Tue 10 Jan 2012, 14:13, Reply)

And an early riser

( sporters I’m sincerely gratitude to you, Tue 10 Jan 2012, 14:14, Reply)

That paper is straight and true and in no way biased

( Naked Ape call me Caitlyn, Tue 10 Jan 2012, 14:11, Reply)

The yin to Darth's yang

( sporters I’m sincerely gratitude to you, Tue 10 Jan 2012, 14:15, Reply)