If there was just one tax

[ypauly]

How much would it be in percentage terms?

no capital gains,vat,national insurance,inheritance,local



How much of my salaery would actually be mine?

[mybrainhurts]

First, you need to know how much the government is going to spend...

Oh...you don't have enough

[Merlot]

ypauly said:

How much would it be in percentage terms?

no capital gains,vat,national insurance,inheritance,local



How much of my salaery would actually be mine?

Wild stab in the dar - 60% Flat rate income tax?

[The Moose]

FFS this is something I have been suggesting (pub wise) for years!!

Basic concept is to only have VAT. No income tax. Nothing.

VAT would be a variable rate depending on the goods (e.g. basics like bread = 0% etc) up to real luxaries (e.g. caviar = lots of %!!).

The benefits:

• Foreigners would also be contributing to the system (they come in from say Japan with money earned over there and still contribute to the taxing here).
• Simple for all concerned. You get in your bank account what you earn
• If you want to be careful and save, you don't get penalised whereas if you want to splash out you pay tax.
• You would get rid of loads of the tax collectors that there are at the moment, therefore saving a load of £££ too. Businesses at the moment are acting as a tax collector for the government (VAT) and this would be not much different. Yes it would take a little while for them to sort out the different %ages etc, but not too much of a big deal.

The negatives:

• Common sense
• There would be a load of government people unemployed. (shame )
• ...???

Cheers

The Moose

[Maxwell Smart]

The Moose said:

FFS this is something I have been suggesting (pub wise) for years!!

Basic concept is to only have VAT. No income tax. Nothing.

VAT would be a variable rate depending on the goods (e.g. basics like bread = 0% etc) up to real luxaries (e.g. caviar = lots of %!!).

The benefits:

• Foreigners would also be contributing to the system (they come in from say Japan with money earned over there and still contribute to the taxing here).
• Simple for all concerned. You get in your bank account what you earn
• If you want to be careful and save, you don't get penalised whereas if you want to splash out you pay tax.
• You would get rid of loads of the tax collectors that there are at the moment, therefore saving a load of £££ too. Businesses at the moment are acting as a tax collector for the government (VAT) and this would be not much different. Yes it would take a little while for them to sort out the different %ages etc, but not too much of a big deal.

The negatives:

• Common sense
• There would be a load of government people unemployed. (shame )
• ...???

Cheers

The Moose

moosey

loads on flat tax. start on wiki - or on here. do a search. lots of good reasons for it.

[ypauly]

The Moose said:

FFS this is something I have been suggesting (pub wise) for years!!

See great minds think alike
















problem is so do us thick heads

[The Moose]

Maxwell Smart said:

The Moose said:

FFS this is something I have been suggesting (pub wise) for years!!

Basic concept is to only have VAT. No income tax. Nothing.

VAT would be a variable rate depending on the goods (e.g. basics like bread = 0% etc) up to real luxaries (e.g. caviar = lots of %!!).

The benefits:

• Foreigners would also be contributing to the system (they come in from say Japan with money earned over there and still contribute to the taxing here).
• Simple for all concerned. You get in your bank account what you earn
• If you want to be careful and save, you don't get penalised whereas if you want to splash out you pay tax.
• You would get rid of loads of the tax collectors that there are at the moment, therefore saving a load of £££ too. Businesses at the moment are acting as a tax collector for the government (VAT) and this would be not much different. Yes it would take a little while for them to sort out the different %ages etc, but not too much of a big deal.

The negatives:

• Common sense
• There would be a load of government people unemployed. (shame )
• ...???

Cheers

The Moose

moosey

loads on flat tax. start on wiki - or on here. do a search. lots of good reasons for it.

And what about against it??

The only reason I can seriously see myself is that implementing it would be a right bh.

What else (I'm sure I'm not seeing all the issues!!)

Cheers

The Moose

[The Moose]

ypauly said:

The Moose said:

FFS this is something I have been suggesting (pub wise) for years!!

See great minds think alike

problem is so do us thick heads

What is it they say?

Fools never differ

Fancy starting a party?!!?!

Cheers

The Moose

[Funk]

Weirdly I was thinking about this the other day. My assessment of it was that it would make it VERY transparent and harder for the Government to sneak increases in (in both frequency and value). If we were to add up all the taxes we pay, I'd wager that there wouldn't be much left for us as individuals - would the services we receive for our money be any better? I doubt it.

[miniman]

The Moose said:

FFS this is something I have been suggesting (pub wise) for years!!

Basic concept is to only have VAT. No income tax. Nothing.

VAT would be a variable rate depending on the goods (e.g. basics like bread = 0% etc) up to real luxaries (e.g. caviar = lots of %!!).

The benefits:

• Foreigners would also be contributing to the system (they come in from say Japan with money earned over there and still contribute to the taxing here).
• Simple for all concerned. You get in your bank account what you earn
• If you want to be careful and save, you don't get penalised whereas if you want to splash out you pay tax.
• You would get rid of loads of the tax collectors that there are at the moment, therefore saving a load of £££ too. Businesses at the moment are acting as a tax collector for the government (VAT) and this would be not much different. Yes it would take a little while for them to sort out the different %ages etc, but not too much of a big deal.

The negatives:

• Common sense
• There would be a load of government people unemployed. (shame )
• ...???

Cheers

The Moose

This is pretty much how taxation in Florida works IIRC.

[Vixpy1]

Flat rate income tax of 25% on all earnings

[The Moose]

miniman said:

The Moose said:

FFS this is something I have been suggesting (pub wise) for years!!

Basic concept is to only have VAT. No income tax. Nothing.

VAT would be a variable rate depending on the goods (e.g. basics like bread = 0% etc) up to real luxaries (e.g. caviar = lots of %!!).

The benefits:

• Foreigners would also be contributing to the system (they come in from say Japan with money earned over there and still contribute to the taxing here).
• Simple for all concerned. You get in your bank account what you earn
• If you want to be careful and save, you don't get penalised whereas if you want to splash out you pay tax.
• You would get rid of loads of the tax collectors that there are at the moment, therefore saving a load of £££ too. Businesses at the moment are acting as a tax collector for the government (VAT) and this would be not much different. Yes it would take a little while for them to sort out the different %ages etc, but not too much of a big deal.

The negatives:

• Common sense
• There would be a load of government people unemployed. (shame )
• ...???

Cheers

The Moose

This is pretty much how taxation in Florida works IIRC.

Nope!! LOL

What gives you that impression?? 6% VAT and other taxes too!

Cheers

The Moose

[Justayellowbadge]

The Moose said:

Maxwell Smart said:

The Moose said:

FFS this is something I have been suggesting (pub wise) for years!!

Basic concept is to only have VAT. No income tax. Nothing.

VAT would be a variable rate depending on the goods (e.g. basics like bread = 0% etc) up to real luxaries (e.g. caviar = lots of %!!).

The benefits:

• Foreigners would also be contributing to the system (they come in from say Japan with money earned over there and still contribute to the taxing here).
• Simple for all concerned. You get in your bank account what you earn
• If you want to be careful and save, you don't get penalised whereas if you want to splash out you pay tax.
• You would get rid of loads of the tax collectors that there are at the moment, therefore saving a load of £££ too. Businesses at the moment are acting as a tax collector for the government (VAT) and this would be not much different. Yes it would take a little while for them to sort out the different %ages etc, but not too much of a big deal.

The negatives:

• Common sense
• There would be a load of government people unemployed. (shame )
• ...???

Cheers

The Moose

moosey

loads on flat tax. start on wiki - or on here. do a search. lots of good reasons for it.

And what about against it??

The only reason I can seriously see myself is that implementing it would be a right bh.

What else (I'm sure I'm not seeing all the issues!!)

Cheers

The Moose

It would wipe out tourism completely.

Foreign businesses would have to pay massively more to invest in the UK. Would you also remove any corporation tax?

[The Moose]

Funk said:

Weirdly I was thinking about this the other day. My assessment of it was that it would make it VERY transparent and harder for the Government to sneak increases in (in both frequency and value). If we were to add up all the taxes we pay, I'd wager that there wouldn't be much left for us as individuals - would the services we receive for our money be any better? I doubt it.

Indeed, but I would much rather be told that the government needed more money hence the need for the %age increase. I would also be happier as so many people who wouldn't currently contribute will do so!

I, and I'm sure most people would rather it be more transparent.

What is the total £££ spent in this country just out of interest?? End consumer I mean - i.e. how much would be generated?!?

Just IMHO

Cheers

The Moose

[ypauly]

Vixpy1 said:

Flat rate income tax of 25% on all earnings

Question was how much would it be



NOT how much would you like it to be

[The Hypno-Toad]

I'd tax Sarah Chalke....



& I have a funny feeling she'd tax me...

Old Python joke, folks..

[The Moose]

Justayellowbadge said:

The Moose said:

Maxwell Smart said:

The Moose said:

FFS this is something I have been suggesting (pub wise) for years!!

Basic concept is to only have VAT. No income tax. Nothing.

VAT would be a variable rate depending on the goods (e.g. basics like bread = 0% etc) up to real luxaries (e.g. caviar = lots of %!!).

The benefits:

• Foreigners would also be contributing to the system (they come in from say Japan with money earned over there and still contribute to the taxing here).
• Simple for all concerned. You get in your bank account what you earn
• If you want to be careful and save, you don't get penalised whereas if you want to splash out you pay tax.
• You would get rid of loads of the tax collectors that there are at the moment, therefore saving a load of £££ too. Businesses at the moment are acting as a tax collector for the government (VAT) and this would be not much different. Yes it would take a little while for them to sort out the different %ages etc, but not too much of a big deal.

The negatives:

• Common sense
• There would be a load of government people unemployed. (shame )
• ...???

Cheers

The Moose

moosey

loads on flat tax. start on wiki - or on here. do a search. lots of good reasons for it.

And what about against it??

The only reason I can seriously see myself is that implementing it would be a right bh.

What else (I'm sure I'm not seeing all the issues!!)

Cheers

The Moose

It would wipe out tourism completely.

Foreign businesses would have to pay massively more to invest in the UK. Would you also remove any corporation tax?

Why would they be paying more to invest??

Cheers

The Moose

[Justayellowbadge]

The new European HQ has just gone from 15 mil to 30.

They are going to be paying double for every PC, desk, lightbulb and envelope.

[ypauly]

Yes would remove any corporation tax


There would be just one tax

[m3jappa]

Pretty sure i read that in some states of America they have a flat rate of tax, which is basically VAT. Also pretty sure i heard they are actually generating more revenue and everyone is happy.

But that could have been an internet dream i probably had.