Oops!!!!

[RickN]

Yep lets raise taxes on the rich.

In the 2009-10 tax year, more than 16,000 people declared an annual income of more than £1 million to HM Revenue and Customs.

This number fell to just 6,000 after Gordon Brown introduced the new 50p top rate of income tax shortly before the last general election.

The figures have been seized upon by the Conservatives to claim that increasing the highest rate of tax actually led to a loss in revenues for the Government.

It is believed that rich Britons moved abroad or took steps to avoid paying the new levy by reducing their taxable incomes.

George Osborne, the Chancellor, announced in the Budget earlier this year that the 50p top rate will be reduced to 45p from next April.

Since the announcement, the number of people declaring annual incomes of more than £1 million has risen to 10,000.

However, the number of million-pound earners is still far below the level recorded even at the height of the recession and financial crisis.
[...]
Far from raising funds, it actually cost the UK £7 billion in lost tax revenue.

For those interested, many of our rich and several large corporations are already looking to move as much out of the country as they can.

 

[Glocktogo]

When you apply pressure to a person, they will usually search for a way to alleviate that pressure. It's human nature. Of course, Democrats feel they can outsmart human nature.

 

[tRidiot]

I'll definitely be cutting my work to cut my taxes if they raise them too high. It actually can net you more take-home if you're not too far over the cutoff), and save workload all at the same time.

Of course, several people on this board say I'm a liar and blah blah blah, but I have run the numbers and I know how and why I work like I do. If they penalize me extra for being a more productive member of society, then they can find someone else to pick up the workload.

I know many other people in my profession are considering the same. Think about that when you try to get in to get some surgery or see a specialist and they've cut back how many patients they see in a day and you have to wait longer.... just sayin'.

 

[tntrex]

U in the 4th district need to jump rep. Coles azz. Sell out

 

[Glocktogo]

The mathematics is actually quite simple. Math doesn't lie the way statistics do!

 

[yukonjack]

I'll definitely be cutting my work to cut my taxes if they raise them too high. It actually can net you more take-home if you're not too far over the cutoff), and save workload all at the same time.

Of course, several people on this board say I'm a liar and blah blah blah, but I have run the numbers and I know how and why I work like I do. If they penalize me extra for being a more productive member of society, then they can find someone else to pick up the workload.

I know many other people in my profession are considering the same. Think about that when you try to get in to get some surgery or see a specialist and they've cut back how many patients they see in a day and you have to wait longer.... just sayin'.

Yep, my pain managment doctor just dropped his practice from 5 days a week to 3 1/2. He said it's just not worth it.

 

[inactive]

I'll definitely be cutting my work to cut my taxes if they raise them too high. It actually can net you more take-home if you're not too far over the cutoff), and save workload all at the same time.

Of course, several people on this board say I'm a liar and blah blah blah,

I'm telling ya... unless the next bracket's tax rate is over 100% (of that additional gross income), the net pay is never increased by decreasing the gross. Like glocktogo said, the math doesn't lie

He said it's just not worth it

I will concede that there will be a point of diminishing marginal return where the net gain is so small that working more just isn't worth it the effort.

 

[Lurker66]

I'll definitely be cutting my work to cut my taxes if they raise them too high. It actually can net you more take-home if you're not too far over the cutoff), and save workload all at the same time.

Of course, several people on this board say I'm a liar and blah blah blah, but I have run the numbers and I know how and why I work like I do. If they penalize me extra for being a more productive member of society, then they can find someone else to pick up the workload.

I know many other people in my profession are considering the same. Think about that when you try to get in to get some surgery or see a specialist and they've cut back how many patients they see in a day and you have to wait longer.... just sayin'.

Why dont you do that now? By that logic it should work no matter the tax rate.

 

[Lurker66]

Yep lets raise taxes on the rich.



For those interested, many of our rich and several large corporations are already looking to move as much out of the country as they can.

Good riddance. Someone will always fill the vaccum. Eventually theyll run out of hiding spots.

 

[LightningCrash]

When you apply pressure to a person, they will usually search for a way to alleviate that pressure. It's human nature. Of course, Democrats feel they can outsmart human nature.

Quite the contrary, it is in man's nature to tolerate and endure suffering.