Scrap income tax

[littlebabyjesus]

It does amuse me. I guess its because most self-proclaimed Anarchists are actually dependant on the state in terms of benefits and so on.

You are limply predictable, SB. First 'politics of envy', now dismissing anarchists as dole scum. It'll be 'political correctness gone mad' next, no doubt.

 

[_angel_]

You are limply predictable, SB. First 'politics of envy', now dismissing anarchists as dole scum. It'll be 'political correctness gone mad' next, no doubt.

Rightwingers like him genuinely believe they're the only people to have ever worked hard. Seriously.

 

[berniedicters]

And as to the person who started on about the NHS to me, well to be honest I do think that people should be expected to pay for it. I just dont think that complusory taxation is the best way to fund it.

I'm not clear what you mean here. Are you saying that you DO think that the NHS should be funded from the public purse, or not?

Because I can't see any other system that could work. The US setup is a joke, and has increasingly been a millstone round successive administrations' necks for a good couple of decades. About the only other option is some kind of public/private partnership, and we all know how successful those have been in other areas

The nearest best bet might be some kind of part-contributory scheme like the French, but be careful before you hold that up as too much of a paragon - from what I gather, it, too has its problems.

And if you're not going to fund it out of taxation, what ARE you going to fund it from?

Been giving some thought to how an alternative could be arrived at.

Perhaps make it so that Government automatically gets a certain stake in all businesses that operate in the UK with these companies being required to pay a certain percentage of their profits directly into the coffers. Whilst it would be a form of taxation, it would be one linked directly to how well the company where performing. Maybe have some sort of system linked to the top peoples pay which had to come from the same profit pot as which the Government slice of income would come from. It would work the same way with foreign companies selling products here and would encourage companies to employ British workers along with simplifying the entire system of revenue raising which in itself would save billions.

So you are creating an artificial distinction between businesses and people. I can see some major flaws in that already - when does a "person" become a "business"? Such an idea would be a massive discouragement to people to start businesses, which would tend to stifle innovative approaches and competition, especially in the small business end of the marketplace...all this just to avoid personal taxation? Sorry, I can't see it being any kind of improvement.

 

[TomPaine]

I think the tax system as is needs replacing. We pay far more in hidden costs in goods because of the tax system then is probably necessary. When you factor in VAT at each step + the cost companies pass onto the consumer for meeting their tax obligations, it certainly starts to mount up.
Combine this with the cost of the huge government department like the IR and the time spent chasing those who don't want to pay tax and have the means to escape it and I can imagine we must be spending a stupid amount of public money on this.

I'd be in favour of replacing Income tax and replacing it with a Sales tax if a citizens income was introduced, basic need goods where tax free and luxury items where taxed in a higher bracket.
If you therefore buy a porsche you pay say 50% tax as opposed to a loaf of bread which has 0% tax and average item would be at say 20% although this is 3.5% higher then the VAT, by the time you deduct the embdeded costs from the price it wouldn't be any more expensive.
After all I don't believe those who inherit wealth pay income tax on it, because they are not actually earning it. Aren't they liable for capital gains?
IHR can be avoided if you are super wealthy by purchasing a historic property and using the loopholes that allow you to buy somewhere old with historic items that belong to the property, and writing the lot off.
I read an article a while back regarding this, and how the government had totally fallen behind in trying to keep track of those using this loop hole.

Then let local councils levy the taxes to make up the differences rather then central government. I think overall it would be a fairer system especially for societies poorer members would end up better off.

 

[Quartz]

After all I don't believe those who inherit wealth pay income tax on it, because they are not actually earning it. Aren't they liable for capital gains?

Sort of. Inheritance tax is 40%. On the estate over a certain amount, not the recipient. So if Granny Weatherwax leaves her £5M estate to her two granddaughters, each only gets £1.5M after the State has had it's 40%.

 

[DotCommunist]

'only' 1.5 eh?

 

[tbaldwin]

Amazed that some people seriously think income tax should be scrapped....VAT is a tax that hits poorer people harder....Which is part of the reason it doubled under the tories.
A lot ofour income tax gets wasted on useless bureacracy for sure...The NHS and the welfare state wastes billions on rubbish...But would you really want a situation where there was no nhs? Where people were left to die because they didnt have enough money or health insurance?

The state we have is far from perfect, but if you want to change it you have to come up with a workable alternative.