Are you feeling persecuted yet?

9 December 2009

1 minute read

We've told you what we think about the imposition of a windfall tax on bonuses. Now we'd like to know how you feel.

As Alistair Darling pointed out today, more than half of the new revenues raised by the PBR are coming from the top 2% of the population.

It's not simply a question of the bonus tax. It's also the withdrawal of pension tax relief for anyone earning over 130k (the ceiling was previously 150k) and the increase in National Insurance.

As PriceWaterhouseCoopers points out,the changes (bonus tax notwithstanding) will leave someone earning 250k with 56% of their income, less than in France (58%), Germany (60%) and the US (59%).

How do you feel about this? Let us know below.

AUTHOReFinancialCareers UK

Insider Comment

ag
agbogun
13 May 2010
As for me tax is being paid by people and it also come around to help people that pay this tax.It is the same tax use in developing and providing social want that is neededin the country or state.So tax goes round to help the payer.
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Wi
Will
17 February 2010
Darling and Brown the two incompetent idiots have blown up the economy and its up to the bankers to come to their rescue. Are they not ashamed of taking their salaries each month and claiming all those expenses at the expense of the hard working tax paying public? They are a disgrace to the country.
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_i
_intellect_
20 December 2009
"Guys please stop bleating on like old women."
When exactly did it become acceptable to use "old woman" as an insult?!
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Do
DogWalker
17 December 2009
Levado wrote : "600 more tax on a 30,000 salary is only a 2% loss, and someone on that salary is unlikely to relocate as a result. "
Oh my, proofread yourself.
- 600 more tax on a 30 000 salary is money that would have been spent at Tesco for food or to pay the rent. In fact it is 6 weeks of food for a not so fat couple.
- 150 000 more tax on a 300 000 bonus is money that would have been been used to buy Guccis and Patek Philips.
It's called Engel's law and taught in Economics first year.
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le
levado
17 December 2009
It's pathetic of Labour to target the top 2% of the population as it has a huge adverse effect on incentives and effort, discouraging top talent and driving it abroad, while it generates diddly squat in additional revenue. It would make more sense to hit middle incomes and above by a few hundred pounds each year in higher taxes, so making millions of people carry the burden, with a limited financial impact on each one of them. 600 more tax on a 30,000 salary is only a 2% loss, and someone on that salary is unlikely to relocate as a result. Of course, Labour will do nothing to hit its core supporters, so that is unlikely to happen.
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