Germanshepherdsmum
Even at the current highest rate of tax, you keep a fair amount of your salary. It’s not as if we have the 90% rate of years ago - if we did I could understand people deciding not to take a promotion if it took them into that bracket. Currently we are talking about the difference between 20% and 40%, 40% and 45% and 45% and 50%. If someone is serious about their career they will take a promotion. It may not be offered again.
In my job, shorter hours was a total impossibility, as is the case for my son and daughter in law now. If you work with people in different time zones you accommodate their hours, not yours.
Precisely.
My (uneducated) proposal was easy. Fairer at the bottom and middle. I allowed for a mere 5% on top of the 45% and raised all the bands considerably. Nobody was to be impacted apart from actual high earners:
It seems to me changing the bands and adding to the top band would yield the government and lower income people more spendable money.
Here's my proposal again:
Up to £20,000 -- 0% [good!!!]
£20,000 to £70,000 -- 20% [good!!!]
£70,000 to £170,00 -- 40% [good!!!]
over £170,000 -- 50% [nice for tax revenues]