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Thread: 50% tax rate for high earners

  1. #11
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    Re: 50% tax rate for high earners

    Quote Originally Posted by celticlord View Post
    Really. What about 100%? Let the government take everything and just give you what the bureaucrats say you need?
    I get NHS. You don't.
    I have reason to want to pay more money as i get something out of it.
    What do you get out of paying taxes to your Government?
    Last edited by Laila; 04-22-09 at 10:58 AM.


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    Re: 50% tax rate for high earners

    Quote Originally Posted by celticlord View Post
    That's his choice. Of course, if he paid less in tax, he might not need to spend so much of supposedly government money. Makes the argument rather circular and wholly invalid.

    Unless he's spending more government money than he's paying in tax, in which case the net effect is a wealth transfer to him.
    In theory, it should be a wealth transfer from him when he is younger (less health issues, no retirement income), and a wealth transfer to him when he is older (more health issues, drawing some form of social security). Few nations have transfers of wealth from rich to middle class. Instead, its usually a wealth transfer between generations.
    "You're the only person that decides how far you'll go and what you're capable of." - Ben Saunders (Explorer and Endurance Athlete)

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    Re: 50% tax rate for high earners

    Quote Originally Posted by Laila View Post
    What do you get out of paying taxes to your Government?
    Not a damn thing. Being a man with a backbone and this little thing called pride, I prefer doing for myself.

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    Re: 50% tax rate for high earners

    Quote Originally Posted by SouthernDemocrat View Post
    In theory, it should be a wealth transfer from him when he is younger (less health issues, no retirement income), and a wealth transfer to him when he is older (more health issues, drawing some form of social security). Few nations have transfers of wealth from rich to middle class. Instead, its usually a wealth transfer between generations.
    In theory, theory and reality are the same.

    In reality, theory and reality are different.

    In reality, taxes are taking from everybody and giving to parasites.

    "Wealth transfer between generations"....isn't that called "inheritance"?

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    Re: 50% tax rate for high earners

    Quote Originally Posted by celticlord View Post
    Not a damn thing.
    That is why we differ and why you'd be more resentful of taxes.


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    Re: 50% tax rate for high earners

    Quote Originally Posted by celticlord View Post
    In theory, theory and reality are the same.

    In reality, theory and reality are different.

    In reality, taxes are taking from everybody and giving to parasites.

    "Wealth transfer between generations"....isn't that called "inheritance"?
    We are talking reality here. In reality, you pay more in taxes when you are younger say, 30s, 40s and 50s, and less in taxes when you are older, 60s and up.

    Yet, when you are older, you are drawing Social Security and Medicare. Thus, there is a transfer of wealth going on from younger to older. Very little wealth transfers occur through taxation between rich and poor. After all, welfare programs only constitute a small portion of federal outlays. The big ones are defense and entitlements.
    "You're the only person that decides how far you'll go and what you're capable of." - Ben Saunders (Explorer and Endurance Athlete)

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    Re: 50% tax rate for high earners

    Quote Originally Posted by celticlord View Post
    Not a damn thing. Being a man with a backbone and this little thing called pride, I prefer doing for myself.
    Your roads are paved, your air and water is largely protected (less so there in Houston), your bank accounts are insured, the police patrol your neighborhoods, the government defends the nation, you have parks to go to.... You get a lot of services for your tax dollars.
    "You're the only person that decides how far you'll go and what you're capable of." - Ben Saunders (Explorer and Endurance Athlete)

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    Re: 50% tax rate for high earners

    Quote Originally Posted by Laila View Post
    I get NHS. You don't.
    I have reason to want to pay more money as i get something out of it.
    What do you get out of paying taxes to your Government?
    Tax revenue as a percentage of GDP is 36.6% in the U.K.

    It is 28.3% in the USA. (These numbers are for combined taxation for all levels of government).

    So, would that fairly significant reduction in taxation be worth it to you in exchange for having the largely employer sponsored health care plans and student loan programs we have in the United States rather than the nationalized health care and government funded higher education in the U.K.?

    Keep in mind that you would still have publicly funded health care once you reached retirement, would have public health care if you were impoverished or disabled, and would have access to grants for college if you were poor.
    "You're the only person that decides how far you'll go and what you're capable of." - Ben Saunders (Explorer and Endurance Athlete)

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    Re: 50% tax rate for high earners

    Quote Originally Posted by SouthernDemocrat View Post
    Your roads are paved, your air and water is largely protected (less so there in Houston), your bank accounts are insured, the police patrol your neighborhoods, the government defends the nation, you have parks to go to.... You get a lot of services for your tax dollars.
    And how much of government spending goes to these things?

    And how much goes to handouts and giveaways to special interests?

    The list you cited...those comprise the entirety of the things government does tolerably well (ok, drop of the police patrolling....police are a disservice to every neighborhood). Which means that no, I do not get "a lot of services." for my tax dollars. I get practically no service at all.

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    Re: 50% tax rate for high earners

    Quote Originally Posted by Laila View Post
    Budget 2009: Rich face 50% top tax rate | UK news | guardian.co.uk

    BUDGET: KEY POINTS
    50% tax rate for earnings over 150,000
    Growth forecast revised down
    Borrowing increased
    15bn 'efficiency savings'
    2bn help for young unemployed
    1bn to boost housing market
    Car scrapping scheme


    Well, the rate should have always been higher for the rich but is this really the right time? :/
    Not to mention Cameron lit up Darling, it was so amusing to watch.
    The rate should not be higher but the rich don't pay too much in taxes anyway, so it doesn't mean much. The rich can avoid their taxes to a large degree, the rest tend to get the biggest burden.
    "It is written in the eternal constitution that men of intemperate minds cannot be free. Their passions forge their fetters." - Edmund Burke

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