The cake is plenty big enough it’s just those at the top table want a bigger share and the rest are left with crumbs.
The money needs to come through taxation and they could start with not abolishing the limit on pension contributions. They could have raised it slightly but instead scrapped it, making it a real give away to people on large salaries and the wealthy. Make capital gains and dividends tax in line with income tax rates would also raise around £20Bn.
This isn’t a case of taxing the wealthy till they squeak, it’s about ensuring that they pay a fair share. Studies by the LSE show that the wealthy with incomes in excess of £1m have a typical tax rate of around 21% which is below that of those earning the median wage. That can’t be right in a civilised society.
It’s good to see someone put a very reasoned case together without becoming abusive.
Just to deal with the points you make.
Human nature being what it is everyone wants more, there just isn’t enough to give everyone what they want.
As regards the pension changes, we know why the Government brought that change in, the NHS consultants refused to work additional hours as their effective tax Tate became 55%.
Some additional tax will be recovered when they get around to drawing their pension.
Capital Gains Tax. It was proven last time they raised the rates the tax take went down.
Dividends rates in line with income tax, the main losers there would be the pension funds and ultimately those with a private pension fund so less incentive to save and hence become more reliant on the State.
I think the evidence says the wealthy are paying a higher percentage rate than they have ever done before.
Tax them even further and then why would they bother taking risks, employing others, putting their wealth on the line etc with personal bank guarantees.
Some might not like it but it’s a fact the market determines what your worth as an employee
