COVID-19: Those earning above £19.5k should pay more tax after pandemic to help fix UK finances, says think-tank

[bennett83]

Someone earning 70k is still going to be taking home 4,4.5k. If you can’t live on that, you’re doing something wrong.

It's already disproportionate, someone on 70k will pay 20% on 38k and 40% tax on 20k of that.

Someone on 19k will only pay 20% on 7k

Its bullshit, its like you are getting punished for doing well. I have seen a p60 for 150k earnings and they paid 50k in tax

On top of all that there's lots of loopholes

 

[The Beautiful Game]

Who's we?

Self-employed who hadn't been in business for at least three years got nowt.

Yes but furlough kept plenty of businesses that support the economy going and kept people in jobs spending money that otherwise would have lost them. We’ve all benefitted from it whether directly or not

 

[Frijj]

What should the top rate of tax be in your opinion?

50% of all earnings over £100k

 

[SpiritofBurnden]

Yes but furlough kept plenty of businesses that support the economy going and kept people in jobs spending money that otherwise would have lost them. We’ve all benefitted from it whether directly or not

Tell that to those that have been surviving on Universal Credit.

 

[Chalks]

Poor people have suffered most. Most likely to lose their jobs, most likely to get COVID and most likely to die of COVID.

We have a progressive tax system for a reason so any increase should be staggered also.

I don’t see the connection how they are most likely to lose jobs to be honest - that’s sector dependent . Also more likely to get jobs back than a higher earner by that suggestion.

 

[bennett83]

We've all benefited from furloughs and business loans.

Who is we?

 

[42]

They already do chip in double the standard rate on a sizeable portion of that.

The standard rate is 32% those on over £50k pay 42% on the portion above that

 

[The Beautiful Game]

Tell that to those that have been surviving on Universal Credit.

Ok

 

[SurreyMackem]

As long as it's a fair across the board I'm happy tp pay more

 

[Chalks]

We weren't 'all in it together' when the furlough payments were being dished out though.

That’s true . Max payment of 1800 quid when the outgoings of a person in the higher band will of been way beyond that

 

[Ricci's Special Kebabs]

50% of all earnings over £100k

What about those between 45 and 100k, what is your opinion on those?

 

[The Beautiful Game]

The standard rate is 32% those on over £50k pay 42% on the portion above that

It’s 20% and 40%

 

[Frijj]

It's already disproportionate, someone on 70k will pay 20% on 38k and 40% tax on 20k of that.

Someone in 19k will only pay 20% on 7k

Its bullshit, its like you are getting punished for doing well. I have seen a p60 for 150k earnings and they paid 50k in tax

On top of all that there's lots of loopholes



The people on 19k

That person on £150k brings home £5k a month mind. It’s not exactly a story of poverty and tragedy. Their monthly take-home pay is the same as four people on NMW.

 

[TDalt]

It's already disproportionate, someone on 70k will pay 20% on 38k and 40% tax on 20k of that.

Someone in 19k will only pay 20% on 7k

Its bullshit, its like you are getting punished for doing well. I have seen a p60 for 150k earnings and they paid 50k in tax

On top of all that there's lots of loopholes



The people on 19k

So they’re still taking home £8,333 a month? I’ll live nicely on that thanks very much. I’m sure they won’t miss an extra 100-200 a month in tax. 8k still not enough? I’m no socialist, I’ve never voted Labour in my life, but people on those type of salaries won’t be hurting from losing a few quid.

 

[The King of Um]

Who's we?

Self-employed who hadn't been in business for at least three years got nowt.

We is everybody in the country.

We is everyone who benefited from the economy not completely imploding, mass unemployment on a scale never seen before in the UK, and probably civil unrest.

But then I'm thinking beyond my own pocket.

 

[Frijj]

What about those between 45 and 100k, what is your opinion on those?

Is it 40% now? Probably 45. Raise the standard to 25.

 

[Chalks]

Well that’s their own damn fault for bringing home amounts most people can only dream of and not being responsible with it.

Folk on sub £20k don’t have the luxury of being able to bank hundreds or thousands into savings.

Well and this is not my opinion. Maybes it’s the lower earners fault for not earning more?

 

[Botchie]

Personally I think any major tax hike is a bit of con and just an excuse to squeeze more out of working people. Any debt will have been borrowed at incredibly low interest rates and I doubt that any lenders are in a major hurry to get it back. During the second world war we amassed a debt of £22 billion. The last of that wasn't paid back until 2006.

 

[42]

Freeze tax bands for three year
Increase income tax rate by 1p
Increase corporation tax
Hit online retailers

Don’t piss about for 10 years just let us know the full damage now

At the last election they promised to bring the NI allowance upto £12,500 to equalise it with income tax, which suggests the income tax allowance was always going to have a 3 year freeze. So will be interesting to see what they do around this

 

[Frijj]

That’s true . Max payment of 1800 quid when the outgoings of a person in the higher band will of been way beyond that

But those people are on huge sums and should have saved with the money they were able to save. Sorry like but there’s no boohoo cry for me story for the people on £100k a year.