Tuesday, 13 March 2012

Sign up tax petition

http://epetitions.direct.gov.uk/petitions/28640

As the budget gets ever closer now is the time to sign up to the petition in support of raising the tax threshold to £10 000. This progressive measure would particularly benefit those on low or moderate earnings.

2 comments:

  1. Not really that progressive though if even millionaire taxpayers get a little bit of money from this. Your Libdem/Tory government are giving with one hand while removing tax credits and benefits for disabled children with the other. All Libdems should be ashamed

    ReplyDelete
  2. Well if that was the package I would agree with you-but it is not. Throughout the Blair/Brown year the rich got off lightly taxed. That is why Cable has talked of taking away tax relief at the upper end-eg on pension contributions; by limiting tax relief on pension deductions to the basic rate of 20%. The tax that could be generated from this measure is estimated at over £7 billion; more than 2.5 times the cost of giving higher-rate taxpayers the benefit of the increased allowance.

    Liberals have always-well back to Mill, via Henry George and Keynes to the present day- believed in taxing wealth (assets) and not just income. That is progressive. Hence the talk of land taxes,mansion taxes etc. Many of the riches people living in UK today pay little personal tax other than Council tax. Time to change.
    A VAT cut, as suggested by the Labour party, would be both expensive and pointless, benefitting mainly those who have enough money to spend on luxury goods in the first place (clearly not the people being most affected by the squeeze on living standards).

    But Ged, you have made me realise that we need to restate these basic objectives which when couple with a shift employee ownership of businesses would provide for a new economic settlement.

    Most Liberal would agree with Prateek Buch

    http://www.amazon.co.uk/Plan-liberal-approaches-sustainable-ebook/dp/B007I59A6A/ref=sr_1_2?s=digital-text&ie=UTF8&qid=1331842837&sr=1-2

    whose Plan C is widely admired when he noted:

    Tax credits and in-work benefits were trumpeted as great progressive interventions on behalf of a caring state. Indeed, as inflation-adjusted wages continued to stagnate for the majority of the working population, low- and middle-earners came to depend on tax credits to top-up their incomes to an acceptable level. However, this served to support a labour market configured to produce unjust outcomes. New Labour’s reluctance to tackle the injustice of stagnant median wages in the first place – particularly in the face of soaring pay for the lucky few-exposed a massive philosophical flaw at the heart of New Labour....

    ReplyDelete

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