Personal allowance (zero tax band) raised to £12,500 from April (in the Budget today).
This gives money to richer voters because the higher your earnings, the more tax saved. But corporation tax takes money from rather anonymous entities, which of course affects voters too in the end but in a rather indirect way.
> This gives money to richer voters because the higher your earnings, the more tax saved.
a rise of the zero rate equally effects anyone earning above the new zero rate threshold (regardless of how much they are above it [1])
a full time minimum wage employee earning ~£14,000/year
gets exactly the same reduction in tax from this specific increase as an engineer on £90,000/year
[1]: once you get above £100,000/year your personal allowance goes down (ultimately to zero)
However I agree that anyone earning over £100K won't be affected because of the peculiar system where you lose the personal allowance in steps over this threshold.
> Personal allowance (zero tax band) raised to £12,500 from April (in the Budget today).
This gives money to richer voters because the higher your earnings, the more tax saved.
the conclusion of which is factually incorrect, and unsupported by your linked chart (which includes more than just the increase in the zero rated band)
What's the mechanism which is causing a benefit from the 1st and 2nd (the very poorest) groups in that graph, which is caused by adjusting a threshold at £50,000?
Google British VAT, which is now at 20%. The tory party consistently raises it.
Also, the Rates scheme only payed by home owners became the Poll Tax levied on all which became the Council Tax levied on all households. Another tory party abomination.
Yes. Yes you did, by nature of what you said and what it was in response to, which is very specifically a case were taxes raised by 500% over 10 years.
> Taxes usually increase.
A ridiculous proposition on it's face, as it would mean over times taxes always get higher. In the United States, Federal income taxes have fluctuated up as high as above 90% over the last one hundred years. It's not that high anymore, so taxes have gone down.[1][2] The UK has similarly seem fluctuations over time, and it's not currently at the highest it's been seen.[3]
> Do your own research.
If you're going to make an assertion, the onus is on you to back it up.
That said, you should be careful what you wish for, because someone might just take you up one it.
I disagree that this is good. Volatile tax rates and regulations make businesses less likely to invest and innovate. They will spend more of their time hiring lawyers and accountants, spending less time producing valuable goods and services.
