The Mudcat Café TM
Thread #157045   Message #3705285
Posted By: Teribus
29-Apr-15 - 04:50 PM
Thread Name: BS: election uk
Subject: RE: BS: election uk
"In 1971 the top rate of tax (on unearned income) was 90%."

Yes Bridge and that acted as a massive disincentive, those who made lots did so elsewhere where they did not have to pay 90%. Which is why Mr Ferguson got the information from HMRC that tells us that:

"In the last tax year {That would be 2013/2014 presumably because it would be too early for the 2014/2015 figures to be in}, the richest were shouldering a greater share of the burden than any time in history," said Mr Nelson. "And this was achieved after the top rate of income tax was reduced from 50p to 45p in April 2013."

Where has the money come from Gnome? The World as a whole has got richer, in the last two decades the world's wealth has doubled - hence the rise of the middle classes right across the globe (BBC World has had quite a good series of articles on it recently)

Who finances the candidates Gnome? For over half those standing for Labour at the forthcoming election it is the UNITE Trade Union who make no bones about those candidates being "theirs" to control and do the Unions bidding - just like in the good old days eh? - Three day week anyone? Winter of discontent? The nostalgia will be almost too much to bear, and oh my, how the country will prosper just as it did before eh? Tell us Gnome as an ex-Union Activist where is that Trades Unions get their money from? IIRC subscriptions from members, investments, etc, etc.

GUEST,Shimrod - 29 Apr 15 - 11:47 AM

Good example of indignant spluttering there Shimrod old son - so how much of your wealth are you trickling down and when?

Like you I am retired four pensions to your three, worked 50 years, paid to educate my children all to university level (i.e. did not make the mistake of relying on the State - consciously and deliberately made the necessary sacrifices to do so), assisted them all in purchasing their first cars and their first houses. That was my contribution to "trickling down". Bit different from when I started out, we were told when you start work you make your own way - exactly as described by GUEST,Pete - nothing to do with Christianity Shaw just parents telling their children the plain truth - you are responsible now for looking after yourself, don't expect anyone else to do it for you - stood me in good stead.

What I was "entitled" to? - whatever I worked hard for and saved for.