Cap income tax at £100,000 to vastly increase tax revenue

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Cap income tax at £100,000 to vastly increase tax revenue

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I would like the government to put a cap on income tax, whereby the maximum any individual would pay on their earnings would be £100,000 per annum. £100,000 is enough for anyone to contribute, and many people who now hide their wealth overseas or use tax loopholes would willingly contribute this amount. Bringing in such a cap would result in a huge number of individuals already in the country and from overseas declaring their incomes, thereby generating vast sums for the government, who could then raise the tax-free allowance for everybody. This would benefit the lower paid earners. I believe that millionaires the world over would be queuing up to deposit their money in the UK and pay the £100,000.

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