New Labour- 63% income tax
#31
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Anyone earnring in excess of 150k and paying 63% tax on that excess needs an accountant or their head examining.
I'm a PAYE wage slave now, but back in the day never paid more than about 20% on annual earnings in excess of 100k.
I'm a PAYE wage slave now, but back in the day never paid more than about 20% on annual earnings in excess of 100k.
#32
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#34
I believe NI is going up by 0.5% for everyone anyway so not confined to high earners. As to pension relief, yes that is a kick in the ***** but has it definitely been confirmed that this is happening?
So higher earners will only be given the standard 20% tax relief on pensions?
So higher earners will only be given the standard 20% tax relief on pensions?
#36
£50k earnings will give you a take home of £35,810 (28.4%)
£100k earnings will give you a take home of £65,310 (34.7%)
£250k earnings will give you a take home of £153,810 (38.5%)
£500K earnings will give you a take home of £301,310 (39.7%)
£650k earnings will give you a take home of £389,810 (40%)
The Salary Calculator - Take-Home
We may like to whinge that we pay a lot in income tax but in reality we get to keep the vast majority of our paypackets. The average earner on £26k only loses 23.5% through income tax and NI. Not that much to be fair.
We should count ourselves lucky here. There are far higher taxing countries than ours.
I support this 50% for the £150k+
£100k earnings will give you a take home of £65,310 (34.7%)
£250k earnings will give you a take home of £153,810 (38.5%)
£500K earnings will give you a take home of £301,310 (39.7%)
£650k earnings will give you a take home of £389,810 (40%)
The Salary Calculator - Take-Home
We may like to whinge that we pay a lot in income tax but in reality we get to keep the vast majority of our paypackets. The average earner on £26k only loses 23.5% through income tax and NI. Not that much to be fair.
We should count ourselves lucky here. There are far higher taxing countries than ours.
I support this 50% for the £150k+
#37
I agree and I cannot understand how anyone would be clever enough to earn themselves 100k and be so thick as to pay more than 24% tax. You can even claim most of your 40% back if you earn a salary. Tax is for poor people who cannt afford good accountants and tax planners.
#38
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also have you ever had to pay European road tolls (taxes) --- I have paid over £300.00 last year and boy if we had them here you would hear the snetter's whinge
The Americans effectively have a citizen tax i.e. wherever you live in the world, if you are an American citizen you are required by the IRS to fill out a tax return and pay tax on all earnings
this stops people like Phillip Green using the UK to generate his 2 billion pound yearly wage whilst paying less tax than the people who clean his shops
Last edited by hodgy0_2; 27 April 2009 at 12:40 PM.
#39
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Not just labour but the whole system.
Take a step back and think about it, look at all the financial news that has appeared over the past four weeks - the sensational stuff in particular, almost all have pointed to one fact:
Everyone associated with and within the goverment is crooked from the top down. We the people really are a slave to the this society and there isn't much short of a revolution, that we can do about this.
If we took all of these money grabbing fat cats and trimmed off 10% of their net earnings we would generate truck loads of revenue but that would be too easy and would not enslave the masses - which ultimately is what is going on here.
I predict we are going to see more of these stories breaking that will send a shiver down the spine of this goverment and show we the people, all the dirty tricks that go on by the powers that be.
How can you have faith in the leaders of this country when they are knee deep in their own crimes - what kind of message does that send out to the masses?
Take a step back and think about it, look at all the financial news that has appeared over the past four weeks - the sensational stuff in particular, almost all have pointed to one fact:
Everyone associated with and within the goverment is crooked from the top down. We the people really are a slave to the this society and there isn't much short of a revolution, that we can do about this.
If we took all of these money grabbing fat cats and trimmed off 10% of their net earnings we would generate truck loads of revenue but that would be too easy and would not enslave the masses - which ultimately is what is going on here.
I predict we are going to see more of these stories breaking that will send a shiver down the spine of this goverment and show we the people, all the dirty tricks that go on by the powers that be.
How can you have faith in the leaders of this country when they are knee deep in their own crimes - what kind of message does that send out to the masses?
#40
I personally cannot be that sympathetic to someone earning over £150,000 a year paying a bit more tax, most will pay an accountant to avoid it anyway, though there are noises about closing loopholes.
Anyone on 150k is not going to be plunged into poverty and saying that everyone should get of their ***** and work hard to get to that level is ludicrous, most people even if working really hard dont get to that level, I myself earn 50k, a bit of additional tax about 150k wont stop me trying to improve my salary as the extra 100k plus would come in handy.
No matter what we do, we still need people to empty bins, clean bogs, handle luggage, serve coffee and all those other crap jobs, these arent people who arent trying, it may be that they have not had the breaks, dont have the required intelligence to operate in the 150k bracket so why taxing them at 40% is a good idea I dont know, that would mean that it is not worth working any more for a lot, some choose to work for pride rather than claiming benefits but that kind of decision is made much harder when it is actually more productive to do so.
If you are earning that kind of money, lets face it, you arent going to go hungry, dont feel so hard done by, enjoy your priveleiged position.
I do also think that labour should now leave the middle classes alone and concentrate on getting the spongers back to work and take a good long look at who is in the country and why, we have enough people without letting millions more in.
Anyone on 150k is not going to be plunged into poverty and saying that everyone should get of their ***** and work hard to get to that level is ludicrous, most people even if working really hard dont get to that level, I myself earn 50k, a bit of additional tax about 150k wont stop me trying to improve my salary as the extra 100k plus would come in handy.
No matter what we do, we still need people to empty bins, clean bogs, handle luggage, serve coffee and all those other crap jobs, these arent people who arent trying, it may be that they have not had the breaks, dont have the required intelligence to operate in the 150k bracket so why taxing them at 40% is a good idea I dont know, that would mean that it is not worth working any more for a lot, some choose to work for pride rather than claiming benefits but that kind of decision is made much harder when it is actually more productive to do so.
If you are earning that kind of money, lets face it, you arent going to go hungry, dont feel so hard done by, enjoy your priveleiged position.
I do also think that labour should now leave the middle classes alone and concentrate on getting the spongers back to work and take a good long look at who is in the country and why, we have enough people without letting millions more in.
#41
#42
The thing is they are the leaders, those of us at the bottom have to put up with their **** because they climed to the top and we did not, the super rich pay no tax because they are powerful and we are not. The reality is that those lower down the socail spectrum suffer more. The only difference being that we can get screwed while watching a plasma TV and driving a new BMW. Rampant unregulated capitalism will only ever increase the gap between rich and poor no close it.
#43
Anyone over the age of around 30 will have been hurt badly by the Tories in the past - they are a nasty, uncaring party .... if you think the sleaze and greed of Labour is bad, you had better get ready for something much, much worse!
The half a brain cell belongs to those who think we are alone in the world with an economic crisis!! Labour is not responsible for the world recession
Good grief
Maybe, but doesn't it feel good to think that the 'real' people who messed up the world will be charged a premium to pay back what they have stolen?
#44
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Doesn't matter what you want, the Tories will win the next election.
What do you mean its easy to point the finger? Anybody with half a brain can see that Labour is responsible for the dire state of the economy.
And you must be off your head if you think the way to have a prosperous country in the long term is to strangle the wealth makers with taxes to provide more public sector jobs
What do you mean its easy to point the finger? Anybody with half a brain can see that Labour is responsible for the dire state of the economy.
And you must be off your head if you think the way to have a prosperous country in the long term is to strangle the wealth makers with taxes to provide more public sector jobs
So, the Tories get in next year. 10 years later we have another recession. I suppose that will still be Labour's fault? For **** sake open your eyes! The economy is cyclical and always will be. Yes, there are always ways that one could have dealt with a recession better, but unfortunatley, every time it happens, the factors change. How strange that we now have a recession with LOW interest rates.
#45
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Just watch the "Tax Freedom Day" roll out towards the backend of June to get us out of the current mess.
Quote, "Of every pound that workers in the UK economy create, the government in fact takes 37p. That's nearly two-fifths of the year, from 1 January to 2 June, that we spend in slave labour for the government.
When Gordon Brown became Chancellor in 1997, Tax Freedom Day was 26 May. So that is a whole extra week he has forced us to work for him, in just eleven years. An extra £600 we're each paying to the government, instead of keeping for ourselves."
That was from June 2008.
http://www.thisismoney.co.uk/news/ar...4&in_page_id=2
Quote, "Of every pound that workers in the UK economy create, the government in fact takes 37p. That's nearly two-fifths of the year, from 1 January to 2 June, that we spend in slave labour for the government.
When Gordon Brown became Chancellor in 1997, Tax Freedom Day was 26 May. So that is a whole extra week he has forced us to work for him, in just eleven years. An extra £600 we're each paying to the government, instead of keeping for ourselves."
That was from June 2008.
http://www.thisismoney.co.uk/news/ar...4&in_page_id=2
Last edited by ^Qwerty^; 27 April 2009 at 01:01 PM.
#46
#47
Surely there is a happy balance. I agree with Deep's point about higher taxes on the top bracket pushing away the creators of wealth. The top earners also create jobs for many many more of the lower earners. By raising the top tax bands you push these people and the jobs they create elsewhere.
By all means have a higher tax-bracket at 50% for over £150k but then start to reduce that over, say £200k. The top earners and wealth crators are encouraged to work harder to get over the hill into the lower band, hard work is rewarded whilst the government is able to take advantage of both a higher slice of taxation and the many lower slices that these people help create.
By all means have a higher tax-bracket at 50% for over £150k but then start to reduce that over, say £200k. The top earners and wealth crators are encouraged to work harder to get over the hill into the lower band, hard work is rewarded whilst the government is able to take advantage of both a higher slice of taxation and the many lower slices that these people help create.
#48
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Do you honestly thing the goverment has our best interests in mind?
Generally we judge a person by their actions and so far everything I have seen points to a dishonest, cold hearted and greedy person in the form of this goverment and all those caught up in the spiders web.
Some honesty would be good, and at least a step to get this country back on the right track
#50
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Try translating it as "Working to pay for people like Sir Fred Goodwin to get a huge pension after masterminding the demise of the bank he worked for, or paying for our troops to stay in the middle east in a useless illegal war we canot possibbly win, or paying so that Scotland, Wales and Northern Ireland can have better standard of living than England, or paying huge sums of money to catch, then release illegals, or paying out huge sums of money in foreign aid while our poor sink lower."..........shall I go on?
#51
It ***** me off the way the media portrays higher rate earners as 'bankers' who, therefore, everyone feels should be punished. I know several entrepreneurs (who have created companies from nothing) for who this is the last straw, and are already looking at shifting their whole corporate head offices to Switzerland (and, in one case, Bermuda). Bye bye all of their corporation tax - as posted above, the net impact on tax take of this madness will be negative. It's a political gesture by a government that has lost it.
Gordo
Gordo
#52
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Now, how do OUR free roads compare?
Oh, and I drive 500 miles each way to our property in the Limousin, most of which is on FREE motorway, (A28, A20) and FREE dual carriageway, more of which is being constructed each year.
Sorry, tell me again what WE get for our huge fuel tax and huger road tax?
#53
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Did labour ever consider that thse on higher wages of which they are taxing so much more also have the financial means to properly emmigrate and re-settle is a different country? - Afterall; whats the point earning it if your not allowed to have it?
If the tax affects their quality of life in terms of disposable income vs living expenses, I'm sure there will a number of packed suitcases, residency and work permits signed and stamped and international haulage companies seeing a increase in custom.
If the tax affects their quality of life in terms of disposable income vs living expenses, I'm sure there will a number of packed suitcases, residency and work permits signed and stamped and international haulage companies seeing a increase in custom.
Last edited by ALi-B; 27 April 2009 at 01:44 PM.
#54
I agree and I cannot understand how anyone would be clever enough to earn themselves 100k and be so thick as to pay more than 24% tax. You can even claim most of your 40% back if you earn a salary. Tax is for poor people who cannt afford good accountants and tax planners.
#55
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dont you guys remember the torrie days when the doll cue went down the road and they sold of all the railway gas oil we had just to line there own pockets, never vote for the blues they are there only for the rich man and hate the poor man, and labour are not the problem its all the rich *******s have cause this and that why its world wide, that cameron is one of maggie thacther bum boys
#56
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and all you guys that earn over that money should be ashamed off your self s you greedy rich ***** what about the poor people of africa that have to walk for over 7 miles a day to get water no they have something to moan about id like to meet a few of you in my boxing gym
#57
dont you guys remember the torrie days when the doll cue went down the road and they sold of all the railway gas oil we had just to line there own pockets, never vote for the blues they are there only for the rich man and hate the poor man, and labour are not the problem its all the rich *******s have cause this and that why its world wide, that cameron is one of maggie thacther bum boys
I remember clearly. I also remember the Labour days from before the Tory days, of rubbish piled shoulder high in the streets, the dead going unburried and hospital porters deciding who would get treated.
nice try, c-
#58
Ok Deep, you continue to believe that.
So, the Tories get in next year. 10 years later we have another recession. I suppose that will still be Labour's fault? For **** sake open your eyes! The economy is cyclical and always will be. Yes, there are always ways that one could have dealt with a recession better, but unfortunately, every time it happens, the factors change. How strange that we now have a recession with LOW interest rates.
So, the Tories get in next year. 10 years later we have another recession. I suppose that will still be Labour's fault? For **** sake open your eyes! The economy is cyclical and always will be. Yes, there are always ways that one could have dealt with a recession better, but unfortunately, every time it happens, the factors change. How strange that we now have a recession with LOW interest rates.
Gordong Brown presided over reckless management of the economy, allowing unsafe practices by UK banks, allowing house prices to get out of control, personal debt to rocket, raided pensions, allowed unchecked immigration and then SPENT SPENT SPENT.
So did they cause the recession on their own? No. Have they left us in a very poor position to cope with it? 100% yes. So bad is that position that we may never emerge from the downward spiral, only with the Tories do we even stand a chance
#59
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what after the war and what about what they did to the coal miners a never will i vote for them blue robbing scum ever and who gave us the health service it want the blue was it now and yes if they got in we would all paying for it so the poor peole would get nothing
#60
and all you guys that earn over that money should be ashamed off your self s you greedy rich ***** what about the poor people of africa that have to walk for over 7 miles a day to get water no they have something to moan about id like to meet a few of you in my boxing gym