High Tax Rates Are Bad - Here’s Why…

High Tax Rates Are Bad - Here’s Why… Our beloved Chancellor, Jeremy Hunt told us to expect high taxes for the foreseeable future. Like all socialists, Jeremy Hunt is damaging the economy with high tax rates.

Record high taxes, UK taxes have soared to a 70 year high and is 37% of national income. There are many painful consequences associated to high taxes; consequences for the economy, the democratic processes, and for iindividual people and their families.

Painful Consequences of High Taxes:

Economic: High taxes are a deterrent for businesses and individuals to work harder and longer.

With less disposable income, consumer spending dwindles.

Reduced spending lead directly to slower economic growth, often resulting in decreased job opportunities and a stagnant economy.

Democratic: In a democracy we assume that when people earn money, it belongs to them first, not to the government. When high taxes are imposed, it challenges this core principle, suggesting that the government owns all the money; merely allowing us to retain a decreasing portion. This leads to overreach in governmental authority, eroding the trust between citizens and politicians.

When people feel their rightful earnings are being excessively taxed it reduces their faith in the political system and its legitimacy.

Psychological: On a personal level, when people see a big portion of their hard-earned money being taken by the government, it causes feelings of helplessness and unfairness. Over time, this reduces motivation, leading to decreased productivity and poor mental, well-being.

That’s why high tax rates are bad.

Now let’s look at the Benefits of Reduced Tax Rates.

Economic: With a reduction in tax rates, both businesses and individuals have more room to invest and spend. The increased spend stimulates the economy.

If people keep the money they earn, they are more likely to work harder and longer thus stimulating the economy.

This increased financial activity invigorated the economy, leading to more business enterprise inventions innovations, and job opportunities.

Political: A reduced tax system restored public faith in governmental systems. When people feel that they're being taxed fairly they are more likely to participate in and support politicians.

Psychological: Reduced taxation can lessen the psychological strain of feeling financially overburdened. With more money in their pockets people experience a boost in morale, confidence, and general optimism for the future.

Reform UK is a low tax rate party. We Change politics for Good. To ensure a prosperous future, it's imperative that we embark on a path to progressively reduce taxes, systematically, methodically and over time.

Low taxes should be pursued tandem with improving the efficiency of public services.

By stimulating the economy through lower tax rates , we not only boost financial activity and wealth creation, but paradoxically, with an expanding economy, even at these lower tax rates, we can have increased tax revenues, benefiting both individuals and the public sector

Jeremy Hunt is a corporate socialist and works for the WEF.

He needs to go!

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Chris Farmer Reform UK #ReformUK #gloucester