Tedx wrote:Lootman wrote:You would pay some tax but very little. Tax rates would be lower including VAT so it may net out for low earners.
I recall Michael Portillo talking to one of the Singaporian Finance Ministers. Their model is that everybody pays just a little bit in income tax - and it seems to work very well for them. I used to be a fan of the personal allowance, but now I think the UK should change its model, broaden the tax base and simplify the whole system.
Income tax is a relatively new thing (talking in decades). Prior to that and it was considered none of others business how much they earned or had saved. Taxes were raised on businesses and via sales (purchase) tax.
But that was in a era where they didn't pursue policies such as double-up GP's wages so that most opted to move to part time working, and where even on their work days often they phone in to advise the desk clerk to get a locum in as they wont be in that day. Throwing more money at the NHS = more of public purse milked often with less actual work being done. NHS admin staff on 6 digit salaries/golden pensions etc.
Nor policies that promote low wage being paid, state/tax-payer tops those up, or where otherwise the wages are too low to even cover rent. Importing low wage workers in preference to developing ones own population/children.
Micro management, digital currency, street cameras/facial recognition, road cameras/number plate recognition, all of your internet/search activities recorded, all of your financial transactions recorded ... by the state, and the state and absolute control, can target confiscations/restrictions down to individuals in accordance with what that state opines to be good/bad. No longer your money/wealth, just a loan. Everyone becomes a slave/prisoner within that open prison system. But where the younger gen don't care about that, have nothing to hide, don't mind every aspect of their lives/assets being public (or state) known. At least they wont have cared until a particular style of state rises to power/control - only to then realise how entrapped they've become.