Tax cuts for the rich, hurrah!

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in what way does a banker getting a fantastic wage in bonus effect the normal working man , none whatsoever other than them paying more money in taxes from the bonus into the exchequer
why were the caps on bonus payments introduced ?

was it because the working man was paying for the risks and not getting any benefits ?


I think this sums it up....

The banking sector’s bonus culture was blamed for encouraging short-term profits over longer-term stability in the lead-up to the financial crisis, with Lord Turner’s 2009 review into the crash saying bonuses may have encouraged bankers to take “excessive risks”.

Bankers were also accused of taking more cash out of businesses than shareholders, putting investors such as pension funds at a disadvantage.

The hope was that, with less of a banker’s pay riding on their performance, there would be less of an opportunity to incentivise risky behaviour.
 
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Bankers were also accused of taking more cash out of businesses than shareholders, putting investors such as pension funds at a disadvantage.
you mean like the tens of billions Gordon brown cost pension funds
 
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you mean like the tens of billions Gordon brown cost pension funds
Bankers bonuses is money disappearing into off shore accounts, no benefit to the UK.


Gordon Brown taxed profits on pensions ( something already started under Tories……and that money went to the treasury to fund public services. So not wasted money.
 
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Bankers bonuses is money disappearing into off shore accounts, no benefit to the UK.


Gordon Brown taxed profits on pensions ( something already started under Tories……and that money went to the treasury to fund public services. So not wasted money.
so they dont buy anything whatsoever with that money they just look at it whilst living the same lifestyle ?
 
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Gordon Brown taxed profits on pensions
Really ! thats strange there was everyone thinking it was him taking away tax relief paid on dividends to pension companies from the shares they held
 
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I can understand the theory of trickle down benefits for the hard pressed. Whether it works or not.......... that's for economic opinions.
But what I can't understand is how growth is supposed to happen. Supposedly we have the highest employment figures, ever. (Gov't's own figures)
For growth to happen, we need labour from somewhere. There aren't any unemployed to fill those gaps, and the immigration is supposed to be curtailed.
So is there something in the pipeline that I'm not aware of, such as sudden population spurt of working age adults, or a rash of sudden investment into automation, or a lowering of the working age, etc?
 
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Here's something to ponder on . . . . . Most high net worth individuals will be involved in tax avoidance in some way by exploiting the loopholes built into the system. All that happens when the rules change . . . . Is the loopholes change with them. Someone minimising their tax exposure by exploiting the loopholes will most likely be no better or no worse off !
 
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I cannot fathom the idiocy loser sentiment that this is for the rich? Anyone would think the rich are freeloading entitled chancers who are making even more cash soon.

As others have pointed out its a percentage.

Who contributes more money the country?

40% of 200000 or 20% of 20000

If you say the latter I can't help you. I'm telling you all the people I know who are in the upper bracket work and have devoted their lives to be where they are. Why should they pay even more for devoting and sacrificing their life to be better off???
I too don't resent anyone working hard and being paid well for it. I certainly don't expect them to be a higher tax bracket just for what some kind of punishment? Its absurd.

Whilst I disagree with approach to energy companies that should be windfall. I think the rest makes sense.

Answer this. If this creates the opportunity for more people having more money in their pockets that can now afford to pay more local trades spend more for services and boost local economy. Isn't that better than it just being taken in tax never to be seen again or invested poorly by a government that can't be trusted.
 
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