RE: Re wealth taxes6 Aug 2025 10:41
Probably not a debate for the Alba forum but interesting why we wait for news. I think if everyone paid 20% of everything over say £20,000pa they would collect more tax. I for one would pay myself more from the LTD company if I did not loses 40% of it. I would then spend that extra money creating an income for someone else and probably paying VAT on my purchases. We cannot tax ourselves out of poverty. If I earn £200,000 and get taxed on £180,000 at 20% I have paid £36000 in tax and have money to spend and help the economy. If you earn £50,000 and pay tax on £30,000 you have paid £6000 in tax. I have earnt more and paid more (rightly so) but I still feel I have kept enough of the money I have earnt. People do their best to avoid tax because they are taxed too much. 20% is fair, 40% is not. Just my opinion. The other issue is then how the money is wasted once it is collected........