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It all just sounds so easy doesn't it? Amazing how Countries with lower tax rates have better lifestyles for all people.
When the rich are put off by high tax rates and move elsewhere and the economy tanks, then what?
When the rich are put off by high tax rates and move elsewhere and the economy tanks, then what?
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FreddieUK · 70-79, M
@BritishFailedAesthetic Do you mean the like the better lifestyles and contentment in the Scandinavian countries? Just check out their tax regimes. I'd be interested to know if you had other countries in mind.
@FreddieUK It's not all perfect- debt levels are rising and Norway's sovereign welfare fund won't last forever.
FreddieUK · 70-79, M
@BritishFailedAesthetic It is true that things aren't what they used to be, but there's still a lot more equal in their societies than certainly we are in the UK. Norway's economy will crumble when either the oil and gas run out or people stop buying it.
@FreddieUK Correct but the wealthy are taxed very heavily in the UK already.
Non wealthy people are- my brother in law who owns a restaurant that employs people is going to sell his business as the tax rates are too high.
Having a flat rate of say 20% tax like some places in Switzerland would be ideal- the rich pay their "fair share"- more.
Non wealthy people are- my brother in law who owns a restaurant that employs people is going to sell his business as the tax rates are too high.
Having a flat rate of say 20% tax like some places in Switzerland would be ideal- the rich pay their "fair share"- more.
Reason10 · 70-79, M
@BritishFailedAesthetic That's it in a nutshell. With very high tax rates, businesses pay a fortune to accountants to shelter the income. Businesses send jobs to the Far East, where slave labor is all around.
When tax rates come down, businesses find it's cheaper to just pay the tax instead of accountants, and there is always MORE REVENUE to the Treasury.
When tax rates come down, businesses find it's cheaper to just pay the tax instead of accountants, and there is always MORE REVENUE to the Treasury.
@BritishFailedAesthetic Are you nuts? A 20% FLAT Tax Rate?? Total and utter BS lol
Currently the top 10% of all income tax payers in the UK pay about 59% of all income tax. They also pay tax at higher rates than anyone else. That is why they pay so more, but that's also because they earn more than most, of course. It's obvious.
Under a flat tax system they would enjoy massive tax cuts.
Those on low incomes would almost certainly pay more because around the world flat tax systems are associated with high National Insurance contributions - that hit the lowest paid hardest. So flat taxes are really about cutting taxes for the best off, cutting services (like the NHS) massively and requiring payment for their use instead, and increasing tax, overall, for the least well off.
That's the reality. sorry. @Reason10
Currently the top 10% of all income tax payers in the UK pay about 59% of all income tax. They also pay tax at higher rates than anyone else. That is why they pay so more, but that's also because they earn more than most, of course. It's obvious.
Under a flat tax system they would enjoy massive tax cuts.
Those on low incomes would almost certainly pay more because around the world flat tax systems are associated with high National Insurance contributions - that hit the lowest paid hardest. So flat taxes are really about cutting taxes for the best off, cutting services (like the NHS) massively and requiring payment for their use instead, and increasing tax, overall, for the least well off.
That's the reality. sorry. @Reason10
@wildland The reality is Countries with lower tax are better off for everyone. Sorry.
We should have a hybrid healthcare system like the rest of Europe not our system.
We should have a hybrid healthcare system like the rest of Europe not our system.
@BritishFailedAesthetic Actually, countries with higher taxes, like Denmark, have better healthcare, education, and social services, leading to a higher quality of life for all citizens. Lower taxes often result in less access to essential services and more financial insecurity. Higher taxes, when invested wisely, contribute to a more equal, stable society with better overall health and economic stability.
Sorry.
Sorry.
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ImperialAerosolKidFromEP · 51-55, M
@wildland
Yep but that would be redistributed to the economy not to a Peter Pan system where everything is just perfect 🤗
Under a flat tax system they would enjoy massive tax cuts.
Yep but that would be redistributed to the economy not to a Peter Pan system where everything is just perfect 🤗
@BritishFailedAesthetic You mean just like their taxes are being "redistributed to the economy" now? Trickle-down economics is the biggest fantasy that the super-rich have ever pushed.
@wildland Sadly the super rich are vital to the economy.
After holiday I'll probably be going on housing benefit- who would give more money to a local economy- me or a millionaire?
After holiday I'll probably be going on housing benefit- who would give more money to a local economy- me or a millionaire?
@BritishFailedAesthetic Trickle-down economics is a myth. The idea that if we cut taxes for the rich or let them hoard more wealth, the benefits will “trickle down” to everyone else has never worked. Instead, billionaires grow richer while wages stagnate, housing costs soar, and working families struggle. You can see the evidence all around you, and it is only getting worse.
The wealthy don’t drive the economy, we do. It’s everyday people spending their wages, raising families, doing the labour that keeps everything running. When wealth is concentrated at the top, it doesn't create jobs. All it does is sit in offshore accounts or fuel stock buybacks. A fair economy isn’t built by billionaires—it’s built by teachers, nurses, drivers, builders, small business owners, etc. Let’s stop buying into the lie that we need the super rich. In fact, it is the super rich that need us.
The wealthy don’t drive the economy, we do. It’s everyday people spending their wages, raising families, doing the labour that keeps everything running. When wealth is concentrated at the top, it doesn't create jobs. All it does is sit in offshore accounts or fuel stock buybacks. A fair economy isn’t built by billionaires—it’s built by teachers, nurses, drivers, builders, small business owners, etc. Let’s stop buying into the lie that we need the super rich. In fact, it is the super rich that need us.
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