Tax cuts

[Rascal]

When i first started work income tax was 33% of my wages and i was happy about that as we had decent public services. You could see a Doctor, a Dentist, there were libraries and youth clubs, the roads were decent to drive on, potholes were rare. local government had money to spend on essential services like mental health provision etc etc.

Tax cuts are always proclaimed by the Tories as giving you more money in your pocket, which is fair, but if you get an extra quid in your pocket a week from the cut whilst a person earning a Million gets lots more quids in their pocket how is that fair?

Tories also like to use the Laffer curve as a reason why taxation on the rich does not work.

The Laffer Curve states that if tax rates are increased above a certain level, then tax revenues can actually fall because higher tax rates discourage people from working, Ergo lower taxes mean you will slave your arse off working for a crap company paying you minimum wage.

Laffer though was a fucking idiot, a discredited economist, he took no account of the tax paying base and its based on everyone paying a single tax rate.

There has never been a conclusive study that demonstrates a connection between lowered tax rates on the wealthy and GDP growth or increased tax receipts. During the 1940s and the 1970s, the top marginal tax rate was anywhere between 70 percent and 94 percent. In this same period, we experienced the largest GDP growth our country has ever seen, and we were able to invest in the future of our children, economy and environment.


After the 1980s, when the top marginal tax rate began its steady decline, we haven’t seen nearly the GDP gains that we saw during our post-World War II boom.

Why then, here is the question.


Do you support tax cuts?

 

[mexico1970]

When i first started work income tax was 33% of my wages and i was happy about that as we had decent public services. You could see a Doctor, a Dentist, there were libraries and youth clubs, the roads were decent to drive on, potholes were rare. local government had money to spend on essential services like mental health provision etc etc.

Tax cuts are always proclaimed by the Tories as giving you more money in your pocket, which is fair, but if you get an extra quid in your pocket a week from the cut whilst a person earning a Million gets lots more quids in their pocket how is that fair?

Tories also like to use the Laffer curve as a reason why taxation on the rich does not work.

The Laffer Curve states that if tax rates are increased above a certain level, then tax revenues can actually fall because higher tax rates discourage people from working, Ergo lower taxes mean you will slave your arse off working for a crap company paying you minimum wage.

Laffer though was a fucking idiot, a discredited economist, he took no account of the tax paying base and its based on everyone paying a single tax rate.

There has never been a conclusive study that demonstrates a connection between lowered tax rates on the wealthy and GDP growth or increased tax receipts. During the 1940s and the 1970s, the top marginal tax rate was anywhere between 70 percent and 94 percent. In this same period, we experienced the largest GDP growth our country has ever seen, and we were able to invest in the future of our children, economy and environment.


After the 1980s, when the top marginal tax rate began its steady decline, we haven’t seen nearly the GDP gains that we saw during our post-World War II boom.

Why then, here is the question.


Do you support tax cuts?

Always an interesting read Rascal, but to your question.

I would pay more taxes if we had some semblance of a social structure left that functions properly, as it is tax money is pissed in the wind because those in charge couldn't run a youth club so it seems.

Health
Housing
Education
Law and order

If these were taken care of then I am in.

 

[stonerblue]

I would love to pay a million a year in tax

 

[I'm With Stupid]

The top rate of tax means fuck all if no-one earning that level actually pays it. I'd be happy with billionaires, multi-millionaires and huge corporations actually paying what they should as a starting point.

My logic when it comes to tax cuts is that if the Tories are in charge, you might as well have a tax cut, because it's not as if they're going to provide decent public services anyway. When anyone else is in charge, I'd be happy to pay taxes.

 

[Magicpole]

What gets me, is the Tories crash the economy with Brexit and being incompetent, every time they get in. Then it’s ordinary working people who have to pay for their economic failures. Austerity isn’t a thing to the well off. It is to working class people. Taxation shouid be increased to all the rich, corporations, billionaires and let them get us through this as the working class held the line during the pandemic. But, here we are with that Tory bastard Starmer willing to make cuts and not tax those with the gold. If the coward brought in the tax we have in Scotiand for high earners, that £18b hole is filled. He will be in for one term and then it’s back to another decade run by those Tory fucking vermin.

 

[inchy14]

When i first started work income tax was 33% of my wages and i was happy about that as we had decent public services. You could see a Doctor, a Dentist, there were libraries and youth clubs, the roads were decent to drive on, potholes were rare. local government had money to spend on essential services like mental health provision etc etc.

Tax cuts are always proclaimed by the Tories as giving you more money in your pocket, which is fair, but if you get an extra quid in your pocket a week from the cut whilst a person earning a Million gets lots more quids in their pocket how is that fair?

Tories also like to use the Laffer curve as a reason why taxation on the rich does not work.

The Laffer Curve states that if tax rates are increased above a certain level, then tax revenues can actually fall because higher tax rates discourage people from working, Ergo lower taxes mean you will slave your arse off working for a crap company paying you minimum wage.

Laffer though was a fucking idiot, a discredited economist, he took no account of the tax paying base and its based on everyone paying a single tax rate.

There has never been a conclusive study that demonstrates a connection between lowered tax rates on the wealthy and GDP growth or increased tax receipts. During the 1940s and the 1970s, the top marginal tax rate was anywhere between 70 percent and 94 percent. In this same period, we experienced the largest GDP growth our country has ever seen, and we were able to invest in the future of our children, economy and environment.


After the 1980s, when the top marginal tax rate began its steady decline, we haven’t seen nearly the GDP gains that we saw during our post-World War II boom.

Why then, here is the question.


Do you support tax cuts?

No,

I’m not earning a fortune by any stretch of the imagination and as my wife is back at University of Manchester doing her masters in social work I’m the only earner in the house so times are tougher than I’d like but nowhere near as tough as millions of others in this country.

However another £20 a week or whatever in my pocket is not enough for me to make a big difference, like you say I want our services to be better, get appointments asap, roads sorted, pavements cleaned, parks tidy etc.

So no I don’t want a tax cut, I want the country running properly.

 

[r.soleofsalford]

When i first started work income tax was 33% of my wages and i was happy about that as we had decent public services. You could see a Doctor, a Dentist, there were libraries and youth clubs, the roads were decent to drive on, potholes were rare. local government had money to spend on essential services like mental health provision etc etc.

Tax cuts are always proclaimed by the Tories as giving you more money in your pocket, which is fair, but if you get an extra quid in your pocket a week from the cut whilst a person earning a Million gets lots more quids in their pocket how is that fair?

Tories also like to use the Laffer curve as a reason why taxation on the rich does not work.

The Laffer Curve states that if tax rates are increased above a certain level, then tax revenues can actually fall because higher tax rates discourage people from working, Ergo lower taxes mean you will slave your arse off working for a crap company paying you minimum wage.

Laffer though was a fucking idiot, a discredited economist, he took no account of the tax paying base and its based on everyone paying a single tax rate.

There has never been a conclusive study that demonstrates a connection between lowered tax rates on the wealthy and GDP growth or increased tax receipts. During the 1940s and the 1970s, the top marginal tax rate was anywhere between 70 percent and 94 percent. In this same period, we experienced the largest GDP growth our country has ever seen, and we were able to invest in the future of our children, economy and environment.


After the 1980s, when the top marginal tax rate began its steady decline, we haven’t seen nearly the GDP gains that we saw during our post-World War II boom.

Why then, here is the question.


Do you support tax cuts?

The irony is that the rich are said to need more money to get them to work harder, while the poor are said to need to get less to work harder.

 

[Brewster's millions]

The top rate of tax means fuck all if no-one earning that level actually pays it. I'd be happy with billionaires, multi-millionaires and huge corporations actually paying what they should as a starting point.

My logic when it comes to tax cuts is that if the Tories are in charge, you might as well have a tax cut, because it's not as if they're going to provide decent public services anyway. When anyone else is in charge, I'd be happy to pay taxes.

The top 10% of earners contribute 60% of all income tax receipts, so I would say that people on the top rate do actually pay their tax.

 

[Blue Maverick]

Maybe if they spent the money properly and stopped wasting it on shit then we wouldn’t need to raise or lower taxes, billions wasted on things that never see the light of day and no one held accountable, I worked in the public sector all my life and saw first hand how they piss away the money and no one gets held accountable they usually get promoted.

 

[Mr Blue Moon]

Good education, health services, public transport, security etc aren’t free.
Trying to bribe voters with a tax cut while our infrastructure is crumbling round our ears is ludicrous