New Labour- 63% income tax
27 April 2009, 02:18 PM
#61
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i say text the hell out of you rich *******s about time you help out in the world seen as its your greed which has put us in this state ha ha ha ha ha i love it i hope you all burn in hell fuelled by your own money
Last edited by happydude303; 27 April 2009 at 02:19 PM.
27 April 2009, 02:20 PM
#62
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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.
Perhaps its the loopholes for the SE and Ltd company directors that you are clearly well aware of that should be addressed.
Tax evasion costs a lot more than tax fraud.
27 April 2009, 02:24 PM
#63
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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
27 April 2009, 02:26 PM
#64
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No Labour did not cause the worldwide slow down but they put us in an awful position to be able to deal with it. If you and I understand that economies are cyclical then the govt should aswell and done something to put us in a stronger position to cope.
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
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
If so, we really are ****ed!
27 April 2009, 02:27 PM
#65
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You can invest the money you should be paying to the tax man into areas that are tax free and get it back after a certain time period. How much you can actually invest is complex and how much of the 40 percent bracket of your tax you can invest is also complex but it can be done by the right people. I thought that you could only do this if you were self employed but a friend of mine who owns a tax planning, accountantcy and Financial advice firm says he can do it for salaried employees as well. YOu have to earn a minimum 65k for it to be finacially beneficial but for those on that money and up it would be silly not to do somthing to get your tax back.
27 April 2009, 02:27 PM
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27 April 2009, 02:28 PM
#67
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How will TEXTING rich people help the economy? Is this another New Labour masterplan????????
27 April 2009, 02:34 PM
#68
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You can invest the money you should be paying to the tax man into areas that are tax free and get it back after a certain time period. How much you can actually invest is complex and how much of the 40 percent bracket of your tax you can invest is also complex but it can be done by the right people. I thought that you could only do this if you were self employed but a friend of mine who owns a tax planning, accountantcy and Financial advice firm says he can do it for salaried employees as well. YOu have to earn a minimum 65k for it to be finacially beneficial but for those on that money and up it would be silly not to do somthing to get your tax back.
27 April 2009, 02:47 PM
#69
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sorry rich boys i didnt go to a private school. i ment tax the hell out of you and i hope they tax you lot more i hate rich people your all fake and dont give a monkeys for any normal poeple, I hope you loose every thing and come back to the real world end of and here are some full stops .................................................. ....
27 April 2009, 02:51 PM
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As I thought not something you actually know about first hand. The sorts of things you can invest in are venture capital trusts ie HIGH RISK. You would probably lose all your money, better to pay the tax man his 40% then be left with nothing. This is why most people don't do it
27 April 2009, 02:55 PM
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sorry rich boys i didnt go to school. i ment tax the hell out of you and i hope they tax you lot more i hate rich people your all fake and dont give a monkeys for any normal poeple, I hope you loose every thing and come back to the real world end of and here are some full stops .................................................. ....
27 April 2009, 03:02 PM
#74
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I have deals with some IFA's I know as an introducer so I know a bit more than I am going to let on here as the structure of the scheme they use is not that well known and they don't want it to be. The risk is minimal due to how the deals a structured and it is not in anyway high risk VC. I would just let you speak to them yourself but as currently they are not offering any introducer comission on this I won't yet. The risk is almost irrelvant anyway as you are mostly risking money that goes to the taxman anyway. It has all been checked with the revenue and is protected against retrospective rule changes as well before you throw that in.
27 April 2009, 03:14 PM
#76
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sorry **** bandit i was at school when maggie was in and she even stole the milk i.e the milk snacther, that why my schooling was not that good becuase they did nothing for the uk apart from f*ck it up any bum boys private school weaners im off this is now borring id love to punch you all in the head maybe one day were meet and we can HAVE A MANS CONVERSATION
27 April 2009, 03:24 PM
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sorry **** bandit i was at school when maggie was in and she even stole the milk i.e the milk snacther, that why my schooling was not that good becuase they did nothing for the uk apart from f*ck it up any bum boys private school weaners im off this is now borring id love to punch you all in the head maybe one day were meet and we can HAVE A MANS CONVERSATION
27 April 2009, 03:50 PM
#82
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sorry **** bandit i was at school when maggie was in and she even stole the milk i.e the milk snacther, that why my schooling was not that good becuase they did nothing for the uk apart from f*ck it up any bum boys private school weaners im off this is now borring id love to punch you all in the head maybe one day were meet and we can HAVE A MANS CONVERSATION
Anyway back on topic.
Many commentators agree that a 50% tax rate actually decreases revenues. When Lamont reduced it to 40% in the late 80's, from a dizzy 60%, tax revenues actually went up.
IMO Labour's great mistake was believeing that boom and bust was eradicated.
27 April 2009, 04:07 PM
#83
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Lots of people in Africa live on £600 a year. By that rational all earnings in the UK should go to africa so that their 'hurt' is equal to ours.
I suppose this is a fundamental philosophy issue. Socialists believe that the rich should work to subsidise the poor as that is equitable. I understand the idea behind this and it is honourable, but why does the philosophy stop at the border. Britain is rich, africa is poor. Socialism would dictate that britain should distribute its wealth evenly amongst the poor in the world to be equitable, however I never hear this idea touted by the 'working class'.
My philosophy is simple, if you earn your money you should be entitled to keep it, I would argue that the stress/workload/responsibilty of a £60k job is far greater than a £6k job.
Incidentally, minimum wage is £5.73/hr on 38 hours a week is £217.74 a week, which is £11,322 a year gross and £9.6k a year after tax. So nobody in legal employment on 38 hours a week is earning £6k.
27 April 2009, 04:14 PM
#84
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Also is there a cut off on employers NI contributions or do they just carry on at 12.8% as income rises? Employers NI contributions are income tax by stealth. Even basic rate tax payers are paying 22% income tax, 11%NI and the company pays 12.8%NI for employing them (if they did not employ you the company would not pay it hence it is income tax paid by the company for giving you your salary) So basic rate is actually 45% but its so complicated and no one sees the 12.8% that its sewpt under the carpet and we are all none the wiser.
27 April 2009, 04:26 PM
#85
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symantics maybe
anyway I wonder how many people are on a PAYE salary of 150k --- i suspect very very few
27 April 2009, 04:27 PM
#86
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You should come over to Germany then, I a single white male (not being racist in that remark it just happens to be true) and I am therefore in the highest tax class by default, Class 1.
I therefore pay 42% income tax, this is not tiered it is 42% tax on every euro of my salary
I do not get tax relief on anything becasue I can apparently afford to pay for the bumms who don't want to work. Lovely socialist country.
We also do not have a NHS so I have to have:
Private medical insurance.
Loss of job insurance
Public liability insurance
Going into a nursing home insurance.
Reunification of Germany tax.
And all this is deducted from my salary at source resulting in 49% deductions every month, And I do not earn very much to start with.
So stop moaaning about your tiered 40% tax bracket, and think howe much worse it could be.
I therefore pay 42% income tax, this is not tiered it is 42% tax on every euro of my salary
I do not get tax relief on anything becasue I can apparently afford to pay for the bumms who don't want to work. Lovely socialist country.
We also do not have a NHS so I have to have:
Private medical insurance.
Loss of job insurance
Public liability insurance
Going into a nursing home insurance.
Reunification of Germany tax.
And all this is deducted from my salary at source resulting in 49% deductions every month, And I do not earn very much to start with.
So stop moaaning about your tiered 40% tax bracket, and think howe much worse it could be.
27 April 2009, 04:30 PM
#87
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If Income Tax had gone down at the very start of the recession we wouldn't be in this mess so deeply.
Increasing Income Tax is like closing the gate when the horse has already bolted and living on benefits in a free stable down the road.
The majority of the high earners will get round the increased tax bracket anyhow, the actually amount of money that it will generate wouldn't pay for furnishings in a second home in Chelsea.
Increasing Income Tax is like closing the gate when the horse has already bolted and living on benefits in a free stable down the road.
The majority of the high earners will get round the increased tax bracket anyhow, the actually amount of money that it will generate wouldn't pay for furnishings in a second home in Chelsea.
27 April 2009, 04:32 PM
#88
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You should come over to Germany then, I a single white male (not being racist in that remark it just happens to be true) and I am therefore in the highest tax class by default, Class 1.
I therefore pay 42% income tax, this is not tiered it is 42% tax on every euro of my salary
I do not get tax relief on anything becasue I can apparently afford to pay for the bumms who don't want to work. Lovely socialist country.
We also do not have a NHS so I have to have:
Private medical insurance.
Loss of job insurance
Public liability insurance
Going into a nursing home insurance.
Reunification of Germany tax.
And all this is deducted from my salary at source resulting in 49% deductions every month, And I do not earn very much to start with.
So stop moaaning about your tiered 40% tax bracket, and think howe much worse it could be.
I therefore pay 42% income tax, this is not tiered it is 42% tax on every euro of my salary
I do not get tax relief on anything becasue I can apparently afford to pay for the bumms who don't want to work. Lovely socialist country.
We also do not have a NHS so I have to have:
Private medical insurance.
Loss of job insurance
Public liability insurance
Going into a nursing home insurance.
Reunification of Germany tax.
And all this is deducted from my salary at source resulting in 49% deductions every month, And I do not earn very much to start with.
So stop moaaning about your tiered 40% tax bracket, and think howe much worse it could be.
27 April 2009, 04:36 PM
#90
So stop moaaning about your tiered 40% tax bracket, and think how much worse it will be.
: I think the income tax hike is just the tip of the iceburg - the government is desperate to try a recoup funds given the borrowing levels they are facing.(Although the cynic in me suggest that NL has no intention of paying back any of their huge borrowings, as they have no intention of winning the next election when they do eventually call it - what incentive is there? When they can just walk away and let some other party deal with the mess).