Standardise the tax rates for employment income with all other income sources

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Standardise the tax rates for employment income with all other income sources

Petition Details

If you receive most income from your employment, there is a 99% chance that you are probably ‘poor’ or, at least, not part of the 1% high wealth individuals.
The wealthy avoid high employment income tax rates and instead exploit generous allowances and lower tax rates on all other forms of income.

Additional Information

By standardising the tax rates on all forms of income, employment tax rates will fall since the disproportionate tax benefits available to the super-rich only will be reduced to create a fair tax system.

All income say, under £1m, including receipts from loans from non-UK sources and gains from share schemes, should be treated equally for tax purposes and thereafter a minimum tax rate of 10% should cap any excessive tax breaks.
Personal allowance and capital gain exemption could also be combined.

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