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  • Tax

    Boris - raising higher rate tax threshold

    it wont affect paye but will increase revenues from self-employed.

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    Well amount of PAYE tax take will be reduced as the % is lower.

    As for self employed thats only 15% of the workforce and the majority of those are in low paid jobs, taxi drivers, delivery drivers, etc etc. and thus wont hit the 50k declared or not.

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    sorry could have made my point better.  

    I agree that paye revenues will go down, but s/a revenue may well go up as the richest are the ones most able to evade.  its misleading to refer to 15% of the workforce as what counts is the revenue.  obviously no effect on the genuinely lower paid you mentioned.

    you might suddenly find that those people who were under declaring would suddenly have a boost in their income breaching the (former) higher rate threshold.

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    Quite a few PAYE workers already resorting to salary sacrifice/higher pension contributions to get round eg removal of Child Ben.

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    It’s well proven that cutting taxes always increases the tax take. For example since stamp duty went to 3% for landlords the take is well down. Unfortunately the lefties can’t bear to think of anyone working hard and getting rich. Their envy knows no bounds and they think everyone else owes them a living.
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    Im not sure thats true and im hardly a lefty.

    For starters that argument leads to the highest tax take is when taxes cant be reduced any further i.e nill which is nonsensical
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    I retired 5 years early from a very stressful job of 30 years because of the tax burden and now take far more out of the public finances  in the form of a Government superannuated pension ( albeit an abated one) than I now put in in the form of taxes so the tax take has certainly decreased in my case as a result of higher taxation ie it disincentivized me from working .
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    Tax thresholds need to move at all levels, raise the lower and higher at the same time to benefit everyone.
    All this will do is annoy the under 50k earners
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    Slowly working towards financial freedom


    It will achieve exactly what he needs to - it will appeal to traditional conservative voters, and therefore his party members - to get him into power.

    Whether it will appeal to the majority of the public who earn less than this  is quite clearly no.  What is interesting to see is whether it will woo over the brexit voters from the brexit party, given a large proportion are from traditionally lower income areas of the UK.

    What it does reinforce most of all is that he cares only about power and NOT about the vast majority of people in the country.  (there's a shocker)

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    You don't say Rachel! The only person BoJo Care's about is BoJo. If he becomes PM we really are going to hell in a handcart.
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