Tax Receipts
surely I am not as thick as some people think I am.
Rather than give money to the poor through tax credits, which enables employers to keep their costs down, why not give people money through the tax allowance system.
At the moment we are allowed to receive our pay and pensions without paying tax on a sum of money. Raise that to GBP12,000, therefore we should receive GBP12,000 without paying tax.
At the same time raise the tax rate for higher rate taxpayers, to 60%. But at the same time again raise the point at which the higher rate kicks in to GBP100,000.
My final suggestion, abolish the separation of Income Tax and National Insurance. That is why you can bring in the 60% rate.
Imagine how much administration money can be saved by this merger of Income Tax and National. Furthermore, take a serious look at all tax allowances, abolish them. If you make a profit you pay tax on it. Then, if anybody is found cheating the system bring in severe penalties, you have to ask why people were putting their money in overseas tax havens.
Just a few suggestions but hey let's just saddle our children and grandchildren with debt. I am beginning to take a very strong dislike to socialists! But that does not make me a liberal or conservative. In fact I am one of the unrepresented.
Rather than give money to the poor through tax credits, which enables employers to keep their costs down, why not give people money through the tax allowance system.
At the moment we are allowed to receive our pay and pensions without paying tax on a sum of money. Raise that to GBP12,000, therefore we should receive GBP12,000 without paying tax.
At the same time raise the tax rate for higher rate taxpayers, to 60%. But at the same time again raise the point at which the higher rate kicks in to GBP100,000.
My final suggestion, abolish the separation of Income Tax and National Insurance. That is why you can bring in the 60% rate.
Imagine how much administration money can be saved by this merger of Income Tax and National. Furthermore, take a serious look at all tax allowances, abolish them. If you make a profit you pay tax on it. Then, if anybody is found cheating the system bring in severe penalties, you have to ask why people were putting their money in overseas tax havens.
Just a few suggestions but hey let's just saddle our children and grandchildren with debt. I am beginning to take a very strong dislike to socialists! But that does not make me a liberal or conservative. In fact I am one of the unrepresented.
posted by Catch22 at 10:42 AM
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