[CharlieO]

Originally Posted by kizzy

What! charlie for someone so young your views really scare me.
How about suggesting they reduce the 40% tax rate to 35%?.....Give them a bit more money to spend eh?

Why do they scare you?

They cannot reduce that tax rate because then we will go further into a fiscal deficit and end up like Greece and not be able to pay back our borrowing.
The people who make these decisions are incredibly qualified to do so and make the best possible decision for all. The people who complain just see a very narrow view of it and are often only concerned about the affect it has on them personally.

[Kizzy]

Originally Posted by CharlieO

Why do they scare you?

They cannot reduce that tax rate because then we will go further into a fiscal deficit and end up like Greece and not be able to pay back our borrowing.
The people who make these decisions are incredibly qualified to do so and make the best possible decision for all. The people who complain just see a very narrow view of it and are often only concerned about the affect it has on them personally.

Any reduction in tax rates is going to affect the economy, I am aware that they are qualified, however it is clear that it does not sit well with certain members of the coalition, why is that do you think,that it divides opinion?
They are educated and informed, therefore their view is not narrow.
I wonder too what the IFS thinks?
http://www.ifs.org.uk/projects/375

[In the Drunk Tank]

Originally Posted by CharlieO

Why do they scare you?

They cannot reduce that tax rate because then we will go further into a fiscal deficit and end up like Greece and not be able to pay back our borrowing.
The people who make these decisions are incredibly qualified to do so and make the best possible decision for all. The people who complain just see a very narrow view of it and are often only concerned about the affect it has on them personally.

You think that will happen from reducing the top rate of tax from 50p to 45p?

[CharlieO]

Originally Posted by kizzy

Any reduction in tax rates is going to affect the economy, I am aware that they are qualified, however it is clear that it does not sit well with certain members of the coalition, why is that do you think,that it divides opinion?
They are educated and informed, therefore their view is not narrow.
I wonder too what the IFS thinks?
http://www.ifs.org.uk/projects/375

But the people who work for the government are more so and that is why they have that position. Lower income people tend to feel they are victims or are ignored by budget changes. This is not the case, they are bloody lucky to have what they have and really have no reason to complain.

Originally Posted by MTVN

You think that will happen from reducing the top rate of tax from 50p to 45p?

Not necessarily put them into deficit but it will indeed reduce the amount of tax revenue they receive and therefore could spiral into that.

[In the Drunk Tank]

Originally Posted by CharlieO

Not necessarily put them into deficit but it will indeed reduce the amount of tax revenue they receive and therefore could spiral into that.

Well Osborne did it yesterday after research showed the 50p raises very little extra tax revenue because he argues people find ways to prevent their taxable income creeping into that highest tax bracket, and it also discourages entrepreneurship and success from people who are relied on to create wealth

To be honest I agree with him even though it seems unfair at first glance, there will be a point where increasing tax rates beyond a certain point will just damage the economy instead of helping it

[Kizzy]

[QUOTE=CharlieO;5035545]But the people who work for the government are more so and that is why they have that position. Lower income people tend to feel they are victims or are ignored by budget changes. This is not the case, they are bloody lucky to have what they have and really have no reason to complain.

On the contrary, the lowest earners are better off by raising their personal allowance. its the 40% tax bracket i feel sorry for another 300'000 will be affected next year when the rate is lowered to £41'450 .
Is this fair... Do they have reason to complain?