Reform the Tax System

Income inequality leads to issues, e.g. food banks; growth in these is unbelievable and indicates a huge amount of demand.

The middle class is now starting to lose ground as the wealthy increase their share.

There was support for procedures for redistribution of wealth by reforming the tax system, such as keeping 50% for the highest band, land reform, and taxing companies at a higher rate.

The current highest rate of tax is well below that levied under the Thatcher government in the 1980s. A previous 95% tax rate for those at the highest bands was probably too high.

To try and re-educate people away from greed, it was suggested that small parts of companies’ profit could be taken as tax to be dispersed to where it is needed to tackle problems, and that this could keep increasing until they become less greedy.

Norway’s oil fund provides a good example of forward planning in the use of tax revenues.

 

Why the contribution is important

This is important because of concern that inequality is currently rising.

by FairerScotlandAdmin2 on October 30, 2015 at 04:12PM

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  • Posted by Stevep March 15, 2016 at 11:08

    Whilst I don't disagree with the concept of fairer taxation- this needs to be cautious as it would be wrong to automatically associate a successful company with greed. We should not build a Scotland based on handouts to the less well off - we should build it on giving proper job opportunities to those people so they can earn a decent living.

    Successful (profitable) companies are needed to provide those jobs - so making a profit is not a bad thing.
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