>PolicyEngine shows that the [combined Income Tax reforms](http://policyengine.org/uk/population-impact?add_rate=40&basic_rate=18) — lowering the basic rate to 18% and scrapping the additional rate — would cost £10bn per year, reduce poverty by 0.4%, benefit 71% of the public, and disproportionately increase the income of higher-income households.
40% is a pretty high tax rate already – I don’t see anything wrong with scrapping the 45% rate. What people do find disgusting is all the shady Tory business they do with their friends by giving them government contracts etc, often barely legally or illegally. If that stops, I think that would be more important than how much precisely high earning people are taxed.
I really wish they added more bracket. There is a big difference from a 50k wage to 150k to 1 million one. Compared to the lower tiers
“OMG TAXES TOO HIGH!”
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“OMG THEY’RE CUTTING FUNDING”
Perfect. Increase national insurance which is a regressive tax for which the poor pay more, because we desperately need the money, but lowering income tax to benefit well-off people. Not monstrous at all and totally sensible.
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Summary:
>PolicyEngine shows that the [combined Income Tax reforms](http://policyengine.org/uk/population-impact?add_rate=40&basic_rate=18) — lowering the basic rate to 18% and scrapping the additional rate — would cost £10bn per year, reduce poverty by 0.4%, benefit 71% of the public, and disproportionately increase the income of higher-income households.
40% is a pretty high tax rate already – I don’t see anything wrong with scrapping the 45% rate. What people do find disgusting is all the shady Tory business they do with their friends by giving them government contracts etc, often barely legally or illegally. If that stops, I think that would be more important than how much precisely high earning people are taxed.
I really wish they added more bracket. There is a big difference from a 50k wage to 150k to 1 million one. Compared to the lower tiers
“OMG TAXES TOO HIGH!”
​
​
“OMG THEY’RE CUTTING FUNDING”
Perfect. Increase national insurance which is a regressive tax for which the poor pay more, because we desperately need the money, but lowering income tax to benefit well-off people. Not monstrous at all and totally sensible.