Higher Rate Tax Won't Rasie Much.......who'd Have Thunk It?

[ToraToraTora]

https://www.bbc.co.uk/news/uk-scotland-scotland-politics-67706492

Historically higher rates of tax has raised very little. It is beloved of the left to use to stifle enterprise and effort and punish those that seek to improve themselves and the country. This example exposes the issue nicely.

[ToraToraTora]

*Raise aaarrggghh!

[youngmafbog]

No it never does.

And if its high enough the people who would pay it are often able to move out the country.  Re:  The Brain Drain we suffered.

The Left never seem to be able to understand that.

[Deskdiary]

This type of policy appeals to those it doesn't affect, because it's only ever other people who don't pay enough tax - funny that.

If the Scottish Government were serious about plugging the gap through income tax they'd apply an increase accross the board.

[ToraToraTora]

I think Direct tax is a very poor and innefficient way of raising revenue anyway. It only raises a quarter of tax reciepts. Just put the lot on indirect tax and save a fortune. Sadly though that would take a courageous government.

[gulliver1]

Sorry  ......I couldn't resist that one.....

[ToraToraTora]

don't be sorry it tells us all what a card carrying eejit you are.

[Peter Pedant]

09.40 "Re The Brain Drain we suffered".......So that's why TTT never emigrated...

unworthy of you Gullz. The other little foible of yours, I wish to rebuke strongly - is referring to the society of intellects that TTT is a member of - by the wrong name - such as Wa+nka

and then putting a hand over your mouth in faux horror and saying - "oo have I made a boo-boo? I meant Mensa"

juvenile in the extreme

Anyway... it is all to do wih tax bases. This is the set of people who will pay the tax. Penny on income tax - 30 m people afffected - huge tax base, huge tax haul

 

the tax base for super tax is small and the take is small

BUT - taxing them until the pips squeak ( Healey) 1965 is a thing of the past.

the same as for IHT  - but  there are reasons to tax or untax which is not financial

 

[Peter Pedant]

er as I was saying....

this is about tax bases - the number of people paying a higher rate of tax is small so the tax take is small

30m people pay basic income tax in UK and so a penny on the income tax as it has a broad tax base, brings  in lots to the treasury

no wonder ABers remain so ignorant - all my best tax theortical gems get deleted !

[Peter Pedant]

oh and I also said IHT was the same ( very narrow yax base) but that reasons for taxing and untaxing may NOT be financial

sometimes uneconomical to collect - dog licence 7/6

[gulliver1]

TTT 11.00...... But I Emigrated....lol 🤣

 

 

 

 

[Peter Pedant]

all this carping gets in the way of avoiding tax lawfully

[youngmafbog]

For once thats a sensible comment PP!!

Yes, raising taxes especialy for the very rich means it becomes more economical to emply the services of an accountant or financial guru.  And so the Government of the day ends up with less.