Re: The White Working Class : Sun Jan 22, 2012 9:46 pm  

Big Graeme wrote:

And how hard would that hit the lowest paid? VAT is a regressive tax that its the worst off the hardest.

You'd be better off cutting VAT and increasing Income Tax also have more tax bands even at the lower end, scrapping tax for the low paid just creates another disenfranchised underclass. Scrapping the celling for National Insurance would help too.

Fundamentally disagree with having more bands. Indeed there is a very good argument for having a single rate of income tax.

One size fits all, you earn more you pay more tax. Very simple, understandable and efficient method.

Re: The White Working Class : Sun Jan 22, 2012 9:52 pm  

XBrettKennyX wrote:

Fundamentally disagree with having more bands. Indeed there is a very good argument for having a single rate of income tax.

One size fits all, you earn more you pay more tax. Very simple, understandable and efficient method.

Show one.

I have provided links in the past that prove when tax bands have been reduced in number, the total tax take has followed suit.

Stop peddling neo-con bollox and look at the facts

Re: The White Working Class : Sun Jan 22, 2012 10:43 pm  

cod'ead wrote:

Show one.

I have provided links in the past that prove when tax bands have been reduced in number, the total tax take has followed suit.

Stop peddling neo-con bollox and look at the facts

I already did, but to name a few:

1. The costs of administration will be massively reduced.

2. Easier for people to understand, less loopholes for people to exploit

3. Any shortfall in the above would be reclaimed through tax on consumption (e.g. VAT). No tax needed on savings. i.e. Pay as you go....

Re: The White Working Class : Sun Jan 22, 2012 11:14 pm  

XBrettKennyX wrote:

I already did, but to name a few:

1. The costs of administration will be massively reduced.

2. Easier for people to understand, less loopholes for people to exploit

3. Any shortfall in the above would be reclaimed through tax on consumption (e.g. VAT). No tax needed on savings. i.e. Pay as you go....

I asked for evidence NOT your (totally misguided) opinion

Re: The White Working Class : Sun Jan 22, 2012 11:23 pm  

XBrettKennyX wrote:

I already did, but to name a few:

1. The costs of administration will be massively reduced.

In what way? Why is it massively cheaper? There are numerous online tax calculators that if I put my wage in will instantly tell me what income tax I pay. Are you saying that HMRC doesn't use a computerised system for working out my tax but a free website does?

XBrettKennyX wrote:

2. Easier for people to understand, less loopholes for people to exploit

Not much easier. The vast majority of people can fairly easily work out their income tax with a calculator. Which loopholes would be closed?

XBrettKennyX wrote:

3. Any shortfall in the above would be reclaimed through tax on consumption (e.g. VAT). No tax needed on savings. i.e. Pay as you go....

How would a loss of tax on ncome taxed at over 20% be reclaimed by a VAT on what must be by definition a lower (or at most, equal) amount? Without a large rise in VAT?
Disregarding the moral implications of moving tax take from a progressive system to a less fair system, the numbers simply don't stack up.

Re: The White Working Class : Sun Jan 22, 2012 11:39 pm  

XBrettKennyX wrote:

3. Any shortfall in the above would be reclaimed through tax on consumption (e.g. VAT). No tax needed on savings. i.e. Pay as you go....

Sounds like one of the principles of trickle down economics, hasn't it been proven with the last two governments that the only thing that trickles down is the poop£...

Re: The White Working Class : Mon Jan 23, 2012 11:43 am  

Dally wrote:

I am afraid not. If we had mass employment in cheap textiles, coal mining and other such industries, we'd be alot poorer.

First it was "textiles", now it's "cheap textiles".
Your shifting has got you almost to the truth.
Now all you have to do is to acknowledge that coal mining is not the sole preserve of developing nations and you will be agreeing with me.

Re: The White Working Class : Mon Jan 23, 2012 11:55 am  

XBrettKennyX wrote:

I already did, but to name a few:

1. The costs of administration will be massively reduced.

2. Easier for people to understand, less loopholes for people to exploit

3. Any shortfall in the above would be reclaimed through tax on consumption (e.g. VAT). No tax needed on savings. i.e. Pay as you go....

1. Eventually.
2. A flat tax would not stop exploitation of loopholes via offshoring of corporate profits, non-doms shifting money around etc , etc.
3. a) VAT is regressive and inherently unfair b) Raising VAT retards economic growth, as we are seeing at the moment.

Introducing flat tax would obviously mean that the higher paid would pay less tax (indeed, that's why so many of them like the idea). That shortfall in tax-take would have to be made up from somewhere ... where? ... there would be no option other than getting it from the lower paid, the same people who would be hit hardest by the hike in VAT.