The Fairer Tax Campaign (FTC) is a not-for-profit and non-partisan project that supports national income tax reform. We are in favour of enhancing progressive taxation and wealth redistribution. The aforementioned objectives are more important than our proposed policy changes. We have been canvassing politicians running for parliament for their views on the matter, with progressive replies uploaded on to the blog. The reason being, that we want to transparently document politicians' stances and make the public aware of them. We feel that this is important, as it shows people where the politicians stand. In effect, we are attempting to promote the debate of an important issue, while also keeping the public informed.
Our motto:
"The rich should pay more and the poor should pay less".
We believe that Britain needs to become collectively fairer. The gap between the rich and the poor has continued to grow for decades, which has only served to create a divided society. This is unacceptable for a developed country with one of the largest economies in the world. More needs to be done to tackle the aforementioned disparity. Fairer income tax is part of the solution.
We propose that that the tax free personal allowance threshold be raised to £10,000 for anyone earning less than £18,000 a year. This will be subsidised by reducing the threshold for the 50% tax rate from £150,000 to £100,000. It will ensure that the rich pay more and the poor pay less.
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As it stands (2010-2011):
Basic Rate: £0-£37,400 (20%)
High Rate: £37,401-£150,000 (40%)
Additional Rate: Over £150,000 (50%)
This includes a tax free personal allowance of £6,475 for all income up to £100,000.
http://www.hmrc.gov.uk/rates/it.htm
Our motto:
"The rich should pay more and the poor should pay less".
We believe that Britain needs to become collectively fairer. The gap between the rich and the poor has continued to grow for decades, which has only served to create a divided society. This is unacceptable for a developed country with one of the largest economies in the world. More needs to be done to tackle the aforementioned disparity. Fairer income tax is part of the solution.
We propose that that the tax free personal allowance threshold be raised to £10,000 for anyone earning less than £18,000 a year. This will be subsidised by reducing the threshold for the 50% tax rate from £150,000 to £100,000. It will ensure that the rich pay more and the poor pay less.
---
As it stands (2010-2011):
Basic Rate: £0-£37,400 (20%)
High Rate: £37,401-£150,000 (40%)
Additional Rate: Over £150,000 (50%)
This includes a tax free personal allowance of £6,475 for all income up to £100,000.
http://www.hmrc.gov.uk/rates/it.htm
Our proposed change (2011-2012 onwards):
i) Additional Rate: Over £100,000 (50%)
ii) A tax free personal allowance of £10,000 for anyone earning up to £17,999 a year. The allowance level will remain at £6,475 for those that earn between £18,000 and £100,000.
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Are you in favour of a fairer tax system?
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If so, you can show your support by becoming a fan on Facebook.
Together we can bring change for a fairer Britain.
The Socialist Party is standing on a platform of socialism (common ownership, democratic control, production for use not profit, and distribution according to need not money) and nothing but. We are not advocating reform of capitalism. Your reform (trying to permanently redistribute income from the rich to the poor) has been tried many times and has always failed because it is undermined by the way the capitalist system works and has to work, as is explained in this article. It would be more effective to work for a society in which there will be neither rich nor poor.
ReplyDeleteDanny Lambert, Socialist Party candidate, Vauxhall.
Well said Danny, this sort of reformism has failed before and will fail again. The only hope for us the working class is the abolition of the society that exploits us. For socialism, the abolition of wages system.
ReplyDelete