even you can't think that this policy makes sense

( rachelswipe with a fork, Thu 15 May 2014, 15:46, 2 replies, latest was 11 years ago)

No, you're quite right - you need the money more

( tangledupinblue hairy badge with moving eyes, Thu 15 May 2014, 15:47, Reply)

No I don't,
I'd rather they simplified the system and said up to £10,000 tax free, up to £50,000 20%, up to £100,000 40% up to £1,000,000 60% and maybe above that 65%, or possibly not bother. But also make it apply to any income regardless of whether it's shares, or paye or earnings from renting out your property or whatever.

The complexity is where it is possible to fiddle the sums to pay very little tax when earning obscene amounts. It's wrong when someone earning a million pays proportionally less then someone 40K.

But equally, if your take home pay in a year is over 100K, you're doing pretty fucking well and shouldn't complain too loudly.
(Bazongaloid, Thu 15 May 2014, 15:50, Reply)

40% is fine
i don't have a problem with that. and i agree with most of what you say re any income.

but 60% is demotivating. who would want to work that hard when they are giving 2/3's of it away?
( rachelswipe with a fork, Thu 15 May 2014, 15:54, Reply)

Exactly how much harder does someone earning £500,000 work than someone earning £35,000?
I imagine they probably sit in an office, probably a nicer office, and have someone to bring them coffee, probably nicer coffee too.

The job they do may be judged to be worth that much more, but what are they actually doing that is so much harder that it deserves a near exponentially greater (I'm being figurative here) degree of reward?
(Bazongaloid, Thu 15 May 2014, 16:02, Reply)

It's more to do with the level of responsibility the job carries, be that responsibility for securely employing others, shareholder return etc.

( Fucking hell Jeff I am not a robot, Thu 15 May 2014, 16:04, Reply)

it's not just about working hard, and you know it, although that is a part of it
you get paid for your skills too. not everyone can be a brain surgeon. that is why the top consultants earn so much money.
( rachelswipe with a fork, Thu 15 May 2014, 16:07, Reply)

They do, they earn very high salaries and pay a reasonable proportion of that back in tax
What they have left allows them to live a very nice lifestyle, not rich beyond the dreams of avarice, but very comfortable and without many worries, assuming they don't have gambling habits or crack addictions.
(Bazongaloid, Thu 15 May 2014, 16:11, Reply)

crack £10 salad
(Reverend Fister "a disciplined fuckwit", Thu 15 May 2014, 16:18, Reply)