Share

Abolish the 60% income tax rate

The effective income tax rate for earnings of £100,000 - £115,000 is 60%, as the tax free allowance drops away. So the tax rate goes from 40% for earnings under £100,000, up to 60%, and then back down to 40% for earnings between £115,000 and £150,000. Truly bizarre.

This tax rate is a clear disincentive for those earning around £100,000 (mainly those seen as "wealth creators"). So much so that the vast majority will surely act to avoid this rate (e.g. By paying into their pensions). This is dragging liquidity away from the market and therefore adversely affecting everyone in the country.

You can't sign this petition because it has now closed. But you can still give your opinion on it here at Repetition.me!
0

Do you support or oppose this petition?


comments powered by Disqus

Signatories

5

Currently ranked 33,602 out of 99,562 petitions ever created.

Diversity index: 100%

Status

Closed

Created By

Brian Shaw

Created On

Friday 20 January 2012

Closing Date

Wednesday 23 January 2013

Tagged With