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Hang on; if you're self-employed and making £160k, and your tax gets hiked extremely high, why wouldn't you just get to £80k midway through the year and go on holiday? Seems reasonable and if only 1/20 of high earners did this, it would have a large effect on the tax taken in.
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This isn't really hypothetical to me since I know a bunch of freelancers that stop working once they've made enough money to live well that year.
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Replying to @sebinsua @DanielBayley80 and
If you're a parent there's already an effective 60% tax rate (https://www.google.co.uk/amp/s/amp.theguardian.com/uk-news/2018/nov/03/tax-trap-budget-children …).
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Replying to @sebinsua @DanielBayley80 and
When you get only 40p of every £1 of your so-called salary and already have a financial cushion stopping working is easy. People have a bad week at work or decide to quit working because they're bored.
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Sure. But the taxable population is decreasing as the year goes on. You saying that a new person that takes the job will still pay taxes doesn't affect what I'm saying because at high incomes it's unlikely that this person was unemployed before (unless they chose to be.)
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Yes, but you are not getting what I'm saying. The population of high-skilled people only changes in relation to immigration (and these levels are low). When people drop out of the workforce their job can hopefully be filled however the workforce is still minus one tax payer.
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