Apologies if this had already been done, and for being about a week late.....
But WTAF is that about. How could anyone possibly look around the country and think hmmm, what shall we do...
1) Get a bit of additional money coming in for essential public services, local authority, NHS, missiles etc
2) Increase welfare so that people on the absolute breadline with no money have a bit more to survive on.
3) Reduce the tax burden on low earners so they can cope a bit with the huge increases in prices compared to incomes.
4) Increase the high rate band to £50k and give high earners a boost of £860.
Really. REALLY. Basic rate tax payers get £130, and high rate payers get £860. That's absolutely ****ing nuts. Are these people leaving in a different country to the one I can see?
Really. REALLY. Basic rate tax payers get £130, and high rate payers get £860. That’s absolutely **** nuts.
We're all in it together
Shoring up their base innit. Plus it helps to force more austerity on the plebs.
Was done to death in the Budget thread TL:DR It's tough when you earn decent money 😉
I'd rather it went to schools and the NHS
https://singletrackworld.com/forum/topic/budget-2018/page/2/
It was in the news, I’ll guess we were all too busy writing it off as a pointless budget.
But yeah, they gave people on minimum wage an extra £13 a month and those on £50k a year an extra £43 a month through reduced taxation.
Like the higher rate in general though, it’s not very straight forward, because what the Income Tax giveth, the National Insurance doth taketh away.
Along with child benefit still not being sorted for two earners on 49999 each who get a full quota where 1 earner on 60000 gets **** all....
Yep all good stuff, not sure what to spend mine on yet. Cue crying from lazy poor people.
Name oldtalent
About Me Trying hard not to wind up the many bedwetters in the chat forum.
Obvious troll is obvious if you put it in your profile
I think it's more like £500 once the additional Nat. Insurance is accounted for, but no it's rediculous. Everyone would benefit from that extra being diverted to any number of struggling public services, and anyone on £45k + can afford £40 ish per month.
And I say that as someone who's going to benefit from this.
I would care - but Brexit means I don't - we'll be considerably better off for the coming economic apocalypse now.
If people cared about their public services, they shouldn't have voted Brexit - everyman for himself now.
I am looking forward to watching all the idiots crying on national tv about Brexit not helping the average man/woman on the street.
Scotland will welcome you if you wish to move North to prove that people are willing to pay more tax for better services (all signs at present are that the Scottish government are not going to move their thresholds by more than inflation), which given we already have a lower threshold has some people* in a panic that there will be a brain drain with people heading south to save a grand a year (unless they are funding kids through uni, have long term heath problems requiring prescription, or are planning to still be there when they are old and need cared for...).
*Tory politicians in the media, in reality I've heard very few people moan about it on the ground.
People seem to assume because people earn £50k a year they are comfortable, £50k in London wouldn’t by you a shed in someone’s garden..
we should all get an extra grand tax break that way we are reinvesting it in the economy, employment and increased vat
People seem to assume because people earn £50k a year they are comfortable, £50k in London wouldn’t by you a shed in someone’s garden..
Although it does allow you to lead quite a comfortable lifestyle when you are childless and in your mid-late 20's as my wife is.
But it is an odd earning bracket in London, not enough to own a house on one income but enough to piss money away without much thought.
People seem to assume because people earn £50k a year they are comfortable, £50k in London wouldn’t by you a shed in someone’s garden..
Nope just that you are a lot more comfortable than somebody living on 15-20k in London.....
Or kids at school
Or the NHS
Anyone know what the overall cost of each tax cut is?
Combined on the OBR figures (for obvious reasons)
but 2,790 Million in year 1 and dropping to 1,400-1,700(ish) for the following years
Me and the wife are a good bit over 50k each, whilst 860 seems a lot, I honestly don't think we would notice. My sister is a TA and 860 quid is like 7% of her income. She works her socks off and is on the breadline, it frankly sucks.
Anyone know what the overall cost of each tax cut is?
£2.3b IIRC
Also seems odd given that it’s massive disincentive for many people to make extra pension contributions.
many seem only to put the money aside in order to take advantage of the tax efficiency: that money is now taxed less even without being saved, so seems less likely to get saved at all.
Money not saved is spent - so providing an apparent boost to the economy (and a bit back in VAT). I can't think of any specific reason that the Govt might want to make it look like the economy is doing well next year....
Me and the wife are a good bit over 50k each, whilst 860 seems a lot, I honestly don’t think we would notice. My sister is a TA and 860 quid is like 7% of her income. She works her socks off and is on the breadline, it frankly sucks.
Give the money to her then...
whilst 860 seems a lot, I honestly don’t think we would notice
Nice place to be eh...
Nice place to be eh…
What £2.35 per day?
Good grief Mike, which set of politics are you supporting today?
What the ones where we redistribute to those who need it most. To the organisations who would benefit from a couple of billion in extra services or the people who we now support with benefit payments to subsidise their low wages.
Total nonsense, and that's from someone who will benefit (just). I have no time for lazy folks who can't be arsed working and are content to claim benefits, but let's be honest, that's a tiny minority .if you earn 50 k you don't need 500 quid extra a year. Another reason I will never ever vote for the tories.
I don't like paying tax, but am mindful I am in a very privileged position to have to do so. I work hard, but no harder than folks getting paid half what I earn.
Along with child benefit still not being sorted for two earners on 49999 each who get a full quota where 1 earner on 60000 gets **** all….
Neither should get any.
Job done.
Give the money to her then…
You assume I don't?
However I should not have to, a wage should put everyone in the position of being able to save a little as a bare minimum, the game is rigged for the well off. Your proposal only helps those people who have better off relatives, I'd rather pay more tax and help everyone less fortunate.
if you earn 50 k you don’t need 500 quid extra a year
As has been done to death, just because you earning £50k a year doesn’t mean you are rolling in cash*.
A 2 child family with a single £50k wage living in London will not be as well off as the same Family earning 2 x £25k in a small village in Northamptonshire.
It amazes me that in this place people pull arbitrary salary figures out of a hat and assume with no other data or consideration for people’s circumstances assume they are “rich”
*Although its better than less,obvs.
I’d rather pay more tax and help everyone less fortunate.
His mind has been blown!!!
So Kryton, after you have said that, I don't understand what this comment was supposed to mean?
Nice place to be eh…
I honestly don’t think we would notice
Nope, nor will I. I would rather the band had gone down to £40k and the lower band gone up to £20k. Yes I would notice the drop but so what, I will live.
It amazes me that in this place people pull arbitrary salary figures out of a hat and assume with no other data or consideration for people’s circumstances assume they are “rich”
It is simply putting it in perspective. A person earning £50k per year is rich compared to a person earning £12k per year, whatever way you look at it. Irrelevant where they live, how many kids they have etc,.
However I should not have to, a wage should put everyone in the position of being able to save a little as a bare minimum, the game is rigged for the well off. Your proposal only helps those people who have better off relatives, I’d rather pay more tax and help everyone less fortunate.
So you’ll be writing a cheque and sending it to HMRC then? Apparently it’s that easy.
No one does though.
jambo - don't bother mate. I'm not falling for your shite.
Enjoy your tax rebate then.
Any tax help is welcome, but still worse off than would have been a few years back due to increased NI, pension contributions, imposed contract changes, very poor wage increases.
Whats wrong with incentivising people to earn more money ?
Givj g a high earner more money and they won’t put it under the mattress, they will spend it which benefits the economy etc etc.
Jambo hmrc would just be forced to squander it
its like anything with too much money it just leads to wasteful spending.
give an extra £10 to a caricature unemployed they spend it on booze and fags
give an extra £250 to a youngster it’d be spent over the weekend
give an extra £700 to a dentist they’d put a 10% down payment on a new Santa Cruz
like it or not we live in a boom or bust world economy, simple gains are not desired
if the nhs got extra millions it would just be squandered on additional middle management or even more expensive lightbulb contracts.
Actually why is there no mention of the lower end tax bracket rise ?
That doesn’t benefit the lowest paid / poorest in the UK. That is just as disgusting.
Or is that ok because the OP and most people here will benefit from that tax break ?
Whats the revenue loss from this one ?
From April 2019 the personal allowance – the amount you can earn without paying any income tax – will be raised from £11,850 to £12,500
So Kryton, after you have said that, I don’t understand what this comment was supposed to mean?
If you post it in context you know what it means - its a sarcastic quote aimed at the person that suggested they wouldn’t notice and extra £800 or so. e.g. It’d be nice to be so comfortable that you don’t notice an extra £800 in your pocket.
Whats wrong with incentivising people to earn more money ?
Givj g a high earner more money and they won’t put it under the mattress, they will spend it which benefits the economy etc etc.
Raising the tax band has absolutely no impact on me trying to earn more money. The extras money will not benefit the economy, I will save it or use it to over pay my mortgage by a bit more.
Just move North if you want a more progressive tax system. Our rates are now dramatically different.
https://www.gov.uk/scottish-income-tax
Ok, this is a serious question. If you are lucky enough to benefit from this obvious bribe, but still think that it's wrong in principle, what would be the best thing to do with the money? Ruling out the send a cheque to HMRC option for now.
obvious bribe
Really? It wouldn’t sway me to Vote Tory in the slightest.
what would be the best thing to do with the money? Ruling out the send a cheque to HMRC option for now.
Send it to those living in London and only earning £50k a year.
