UK unveils 50% top tax rate

[Bodhii]

UK unveils 50% top tax rate!.. 50% tax rate for earnings over £150,00. OUCH!!!

[mngolfer]

And we want to continue working why??? Take from those who work and give to those who do not want to work. Why don't politicians see anything wrong with this policy?

Someday the highest wage earners will stop working and live off of the accumulated wealth. What happens to the jobs of those that cannot afford to no longer work?

[randombloke]

don't forget employees national insurance - the "hidden" income tax which runs at 11% on top of the income tax.

and then there's employers national insurance...

http://www.hmrc.gov.uk/rates/nic.htm

tax rises like this are just playing the crowd which is where the votes are. in real terms it just encourages more people affected by the hike to move themselves overseas for tax purposes.

[Bodhii]

Here is an interesting chart from tax year 2005. This is for income tax and does not really show total personal taxes per year.



http://en.wikipedia.org/wiki/Tax_rates_around_the_world

[MikeB]

Its a joke. Its no wonder people spend just as much time avoiding taxes as the govt do trying to put an invisible cloak over their stealth taxes.

Have they not got it yet - lower taxes mean more taxes paid, especially amongst the wealthy. And don't get me started on the employers NI. All of it goes into the same pot, none of it is ringfenced, so why not come clean and just give us a simple percentage tax on our income. Why not? Because it would be HUGE