Deleted
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Post by Deleted on Mar 12, 2020 15:45:05 GMT
I'm up for a stateless, classless society
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myth11
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Post by myth11 on Mar 12, 2020 17:15:52 GMT
Single income/profit tax rate of 37%ish and get rid of all other taxes.
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Post by edgbaston on Mar 12, 2020 17:19:49 GMT
Single income/profit tax rate of 37%ish and get rid of all other taxes. Well done. Hundreds of thousands of UK citizens are now bankrupt, homeless, or going hungry. |
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J.G.Harston
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Post by J.G.Harston on Mar 12, 2020 17:32:04 GMT
Single income/profit tax rate of 37%ish and get rid of all other taxes. Well done. Hundreds of thousands of UK citizens are now bankrupt, homeless, or going hungry. Current income + NI + property + duty + sales + other taxes ends up around the 35%-40% mark, so who are these hundreds of thousands being forced into destitution? |
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Post by Defenestrated Fipplebox on Mar 12, 2020 17:34:19 GMT
The reality is taxes could be a lot lot lower but with consequences, people taking advantage so we'd have more crime probably and more homeless and more disease and death, as taking it to an extreme would mean no nhs, no benefits etc.
However a true freehousing market wouldn't be any worse than our current benefits supported housing market.
What is the right level depends on what you are prepared to accept as consequences.
👽
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myth11
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Post by myth11 on Mar 12, 2020 18:55:44 GMT
Well done. Hundreds of thousands of UK citizens are now bankrupt, homeless, or going hungry. Current income + NI + property + duty + sales + other taxes ends up around the 35%-40% mark, so who are these hundreds of thousands being forced into destitution? I will admit it will likely get rid of some tax collectors/accountants and people working in Benefit offices for example no council tax equals no council tax benefit plus less work for the courts. |
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Post by greenchristian on Mar 12, 2020 19:05:55 GMT
Well done. Hundreds of thousands of UK citizens are now bankrupt, homeless, or going hungry. Current income + NI + property + duty + sales + other taxes ends up around the 35%-40% mark, so who are these hundreds of thousands being forced into destitution? Presumably people who are currently earning below the income tax threshold. |
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Post by Deleted on Mar 12, 2020 19:45:08 GMT
A single income tax would hugely benefit anyone earning more than 40k a year and disadvantage anyone earning less. For example I work 30 hours a week on minimum wage and pay very little in incone tax if at all, if I had to pay 37% I would pay short of 5k a year.
Yes I do pay other taxes; VAT, council tax, NI, etc. But I would say at most I pay 1k in other taxes a year
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myth11
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Post by myth11 on Mar 12, 2020 20:24:53 GMT
A single income tax would hugely benefit anyone earning more than 40k a year and disadvantage anyone earning less. For example I work 30 hours a week on minimum wage and pay very little in incone tax if at all, if I had to pay 37% I would pay short of 5k a year. Yes I do pay other taxes; VAT, council tax, NI, etc. But I would say at most I pay 1k in other taxes a year Of course i do not your spending habits but you be shocked at the amount of tax which is hidden for example electricity has 5% vat plus 20% in green tax and then there are the indirect tax cost such as most food is "tax free" but the lorry that delivered it is not so adds to the cost of the food. I am guessing you do not drink/drive/smoke which is a good way of lowering your tax bill. |
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myth11
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Post by myth11 on Mar 12, 2020 21:12:12 GMT
Single income/profit tax rate of 37%ish and get rid of all other taxes. Well done. Hundreds of thousands of UK citizens are now bankrupt, homeless, or going hungry. I would replace NI/income allowance and a lot of benefits/tax credits with a form of basic income to prevent that. |
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Post by Deleted on Mar 12, 2020 21:13:41 GMT
A single income tax would hugely benefit anyone earning more than 40k a year and disadvantage anyone earning less. For example I work 30 hours a week on minimum wage and pay very little in incone tax if at all, if I had to pay 37% I would pay short of 5k a year. Yes I do pay other taxes; VAT, council tax, NI, etc. But I would say at most I pay 1k in other taxes a year Of course i do not your spending habits but you be shocked at the amount of tax which is hidden for example electricity has 5% vat plus 20% in green tax and then there are the indirect tax cost such as most food is "tax free" but the lorry that delivered it is not so adds to the cost of the food. I am guessing you do not drink/drive/smoke which is a good way of lowering your tax bill. i do not drink or smoke but I've just bought my first car |
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myth11
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Post by myth11 on Mar 12, 2020 21:35:15 GMT
Of course i do not your spending habits but you be shocked at the amount of tax which is hidden for example electricity has 5% vat plus 20% in green tax and then there are the indirect tax cost such as most food is "tax free" but the lorry that delivered it is not so adds to the cost of the food. I am guessing you do not drink/drive/smoke which is a good way of lowering your tax bill. i do not drink or smoke but I've just bought my first car Assuming its not electric every litre is 57.95p in duty plus 20% vat on the total fuel price and not forgetting car tax. As a courier fuel is my main tax source at a rate of around 65%ish per litre. |
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Post by Deleted on Mar 12, 2020 21:40:50 GMT
i do not drink or smoke but I've just bought my first car Assuming its not electric every litre is 57.95p in duty plus 20% vat on the total fuel price and not forgetting car tax. As a courier fuel is my main tax source at a rate of around 65%ish per litre. it is not electric. Though I do get 40p per mile for work which i got when i cycled as well |
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myth11
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Post by myth11 on Mar 12, 2020 21:49:39 GMT
Assuming its not electric every litre is 57.95p in duty plus 20% vat on the total fuel price and not forgetting car tax. As a courier fuel is my main tax source at a rate of around 65%ish per litre. it is not electric. Though I do get 40p per mile for work which i got when i cycled as well I keep looking for a 2nd hand electric car but the cheap ones tend lack range/space so i might have to wait a few years before buying one. |
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Post by carlton43 on Mar 12, 2020 22:20:11 GMT
Of course i do not your spending habits but you be shocked at the amount of tax which is hidden for example electricity has 5% vat plus 20% in green tax and then there are the indirect tax cost such as most food is "tax free" but the lorry that delivered it is not so adds to the cost of the food. I am guessing you do not drink/drive/smoke which is a good way of lowering your tax bill. i do not drink or smoke but I've just bought my first car You should have started with the purchase of your second car and thus avoided all the expense of the first one. |
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J.G.Harston
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Post by J.G.Harston on Mar 13, 2020 20:26:31 GMT
Initial thoughts:
I'd phase in merging Income Tax and National Insurance - which is just another income tax. To placate the screams of "taxing pensioners!!!!" I'd consider introducing a Retired Person's Additional Allowance (to screams of "generation gap inequality!!!" from youngsters).
I'd abolish VAT.
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myth11
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Post by myth11 on Mar 13, 2020 20:49:15 GMT
Initial thoughts: I'd phase in merging Income Tax and National Insurance - which is just another income tax. To placate the screams of "taxing pensioners!!!!" I'd consider introducing a Retired Person's Additional Allowance (to screams of "generation gap inequality!!!" from youngsters). I'd abolish VAT. Another upside of getting rid of VAT is that we can not rejoin the EU without it. |
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slon
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Post by slon on Mar 14, 2020 9:42:54 GMT
I think we should have a two house Parliament.
Top house to manage essential stuff like law, foreign policy, and to raise tax by best means possible the target amount being a set percentage of GDP.
The second house gets to spend the money on education, defence, health, etc
At least it would stop the stupid liberals going on about an extra penny on income text to pay for the NHS
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myth11
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Post by myth11 on Mar 14, 2020 17:52:12 GMT
The UK has too many "small taxes" with green gas levy the latest with a starting rate of £1 per household per year, rising to £5 by 2025.
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J.G.Harston
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Post by J.G.Harston on Apr 2, 2020 17:22:25 GMT
A hah I forgot about this, there is a part two to it. Like a democratic United Arab Emirates we are sitting on an oil like substance, but some sort of special non carbon non-pollutey oil, that is not found anywhere else on earth, is unlimited and is cheaper to extract than water from the rivers. The whole world wants it and is happy to pay $20/barrel, at which levels the world will undergo an economic boom The government holds all the rights. We no longer have any need of taxation. We can come onto expenditure in another week or so, but my question is this: What taxes would you RETAIN and why? Oil-like-substance extraction taxes, natch, otherwise where does the money come from? What taxes does Alaska have? They abolished Income Tax when they set up the sovereign oil fund citizens' dividend scheme. |
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