Hear hear! Just checking though, when you say taxing the rich over taxing the poor, you mean closing the tax loopholes, right, rather than them upping the tax amount on higher earners? I haven't missed something in the manifesto that's gonna piss me off?
ETA: Just realised that doesn't make much sense! I essentially mean, are they closing loopholes rather than upping the percentages on higher bands. That's what the manifesto suggests to me, anyway.
Wasn't that one of the loopholes, though? That higher earners pay (percentage-wise) less tax on their pensions? I'm all for that if that's the case, I just don't wanna see them upping taxes on higher earners out of all proportion.
Well, you'd know better than me - and yeah, you're probably right, that's not a loophole, it was pretty obvious. But that IS the case at the moment, right? That higher earners pay less tax on their pensions than lower earners do? I fully admit to not knowing - well, anything, really - about the tax system...
Basically the more you pay into your pension of your salary, the less tax you pay on it because you get a proportional tax relief on it. Therefore if you're a higher rate earner (over 38k ish) you'll be hit by this new idea (as far as I can determine). That's why I think it needs further work. I don't dislike it, I think rich people should be taxed more than poor people but it needs further work.
ETA: Just realised that doesn't make much sense! I essentially mean, are they closing loopholes rather than upping the percentages on higher bands. That's what the manifesto suggests to me, anyway.
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Basically the more you pay into your pension of your salary, the less tax you pay on it because you get a proportional tax relief on it. Therefore if you're a higher rate earner (over 38k ish) you'll be hit by this new idea (as far as I can determine). That's why I think it needs further work. I don't dislike it, I think rich people should be taxed more than poor people but it needs further work.
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Liss, you can have your LJ back now - sorry!
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