3 2 mins 9 yrs

I recall being pilloried a few years ago when I suggested that the best way to stimulate economic growth whilst maximising tax revenues was to introduce a Flat Tax. Naturally those with a tenuous grasp on economics but a firm grip on the need to spend attacked me for thinking the unthinkable in this Sovietised economy. However…

“The Chancellor should introduce a flat rate of income tax and abolish levies such as national insurance, stamp duty and inheritance tax to boost the economy, experts have said. They are calling for a single income tax rate of 30 per cent and the abolition of eight major taxes, including corporation tax and air passenger duty. The 2020 Tax Commission, a joint project from the Institute of Directors and the TaxPayers’ Alliance, says the changes would lead to a tax cut of £3,400 for the average two-earner household.”

Big bold thinking which any thinking person will appreciate  — I am sure it will be ignored.

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3 thoughts on “FLAT EARTHERS?

  1. The possibilty of an amalgamated tax rate, would be the bureaucrats worst nightmare.

    It is so much easier to have, and to get acceptance for a fragmented system of taxes, levies, etc. where people pay their tax liabilty in dribs and drabs, and are thus less likely to raise any effective argument against any of them, accepting them with perhaps just a shrug of the shoulders and a quick moan.

    That most average families effectively pay overall taxes, – including VAT, – of some 45%+ of their overall income, it would come as something of a shock if it had to be paid on an ‘on demand’ basis, and would certainly bring home the extent of government profligacy and quite likely promote a more organised opposition to some of their more hare-brained schemes.

    When you consider the numerous ways that taxes are collected, it is very surprising just how much the government takes. It isn’t just income tax, there is VAT, and then the stealth taxes raised via such as increased utility bills, – the ‘wind farm’ subidies being one such, where the utility companies are anticpating a 25% increas in power bills to pay that subsidy.

    National insurance contributions are another, with employee/employer contributions at 20%+

  2. It will never happen, as sensible as it may seem ..’The State strongly believes, it can spend your money, better than you’? or waste it, whatever the case maybe.

  3. every conservatives dream a flat tax or just a national sales tax.

    if you count local state and federal the US tax rate for middle income those making between 40-100 thousand pay an average of 53% in the US

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