Lets discuss
Posted: Wed Aug 14, 2013 11:54 am
Taking money from the rich and distributing it to the poor.
Whats your opinion on this?
Whats your opinion on this?
Well, in todays economy, the rich are getting richer and the poor are getting poorer.saacJabshee wrote:give poor people money for them to stand on their own to feet. Its important not to just give money away whilst you are not creating jobs. Otherwise people would just scrounge of the rich. Then the rich will not be happy and take the wealth to another country and this is will create even more poverty.
Ismaill87 wrote:1. Stealing is wrong.
2. You are not Robin Hood.
In 1971 the top-rate of income tax on earned income was cut to 75%. A surcharge of 15% on investment income kept the top rate on that income at 90%. In 1974 this cut was partly reversed, and the top rate on earned income raised to 83%. With the investment income surcharge this raised the top rate on investment income to 98%, the highest permanent rate since the war. This applied to incomes over £20,000 (£176,477 as of 2013),[2]. In 1974, as many as 750,000 people were liable to pay the top-rate of income tax.[4]
Margaret Thatcher, who favoured indirect taxation, reduced personal income tax rates during the 1980s.[5] In the first budget after her election victory in 1979, the top rate was reduced from 83% to 60% and the basic rate from 33% to 30%.[6] The basic rate was also cut for three successive budgets - to 29% in the 1986 budget, 27% in 1987 and to 25% in 1988.[7] The top rate of income tax was cut to 40% in the 1988 budget.The investment income surcharge was abolished in 1985.
Subsequent governments reduced the basic rate further, down to its present level of 20% in 2007.Since 1976 (when it stood at 35%) the basic rate has been reduced by 15 percentage points. However, this reduction has been largely offset by increases in national insurance contributions and value added tax.
In 2010 a new top rate of 50% was introduced on income over £150,000. In the 2012 budget this rate was cut to 45%.
It's waajib in Islamms.naliaa wrote:Taking money from the rich and distributing it to the poor.
Whats your opinion on this?
Lillaahiya wrote:The redistribution of wealth entails much more than "taking money" from the rich.