Ab Origine wrote:
That's the big thing behind it, imo. So, whenever anyone has a moan about disappearing public services, the stock answer and will be "this is a direct result of the recent changes to tax" etc. etc.
So, shut your face. You're much better off than you were and you should really be licking our boots.
This is a very good point. I think this is pretty much baked into the cake, as the UK is absolutely flat broke and will never even conceivably recover. I think eventually there will be virtually no public services. I assume something will have to be retained just so it doesn't dawn on the masses that they're paying tax for very little in return while all public services are being privatised. Here is another issue that I foresee.
What is being suggested here is that there is one flat rate of Income Tax. Because it's 'fair'. Just to simplify the tax system, you understand. What they are actually proposing is that if you work full-time for the minimum wage, you pay the same rate of tax as someone who's a hedge fund manager for J. P. Morgan, or the CEO of ExxonMobil (although such people do all they can to avoid tax, and usually succeed), and even corporations themselves. This is justified by saying, "oh, but we're increasing the personal allowance, so you'll pay less tax overall". Since when has a government ever proposed this? Since when has a government been interested in fairness?
My concern would be that a flat rate of Income Tax is introduced, and then at a later date the personal allowance is either frozen while massive inflation happens, or it's even reduced.
