zip106

I see Labour have pledged to re-introduce the 50% tax rate if they get back in.

I love the way they say how it's only fair the 'rich' pay more.

Well, not every 45/50% tax payers are actually 'rich'.
(In relative terms)

Midlife......

iTrader: (2)

do headteachers get paid more than MP's anyway?

Shaun

cster

I don't think the economy is in good enough shape (yet) to let Labour in and f*ck it all up.
Maybe after a second term with the Tories we will be able afford to pay off the people to whom the world owes a living?

zip106

Most sensible people realise that, but dangle a big enough carrot in front of those voters to whom £150k means you're really ARE rich / evil / a banker / a BTL landlord, then it's going to buy you, as a Labour MP, lots and lots of votes...

We haven't even had a full tax year without the 50p rate, but that mathematical genius ***** thinks its worth implementing without seeing the data.
Perhaps it'll make some more non-jobs for Labourites.

f1_fan

iTrader: (9)

I doubt I can tell him anything he doesn't already know other than to stop 'whining' so he doesn't upset the self centred 'I'm alright Jack's on this forum.

Chip

Dingdongler

What's really annoying is that they only introduced it when they were on their way out and knew they were going to lose the election. I remember watching the budget when Darling announced it and the way he smirked and all his party laughed.

They all knew that as a tax it's useless but was a great political trap for the Tories.

Now ***** and Milliband describe cutting the 50% tax rate to 45% as a 'tax cut for millionaires'. This implies that anybody who earns £150k a year is a millionaire.

Anyway, I'll stop now otherwise I'll be a moaning, whingey old cry baby like you know who.....

Turner Tronics

Countrys on its ****,Governments corrupt,immigrants taking all our jobs,200 years ago the people would have stormed the castle

f1_fan

iTrader: (9)

I do agree that taxing people who 'only' earn £150K a year a bit extra is pretty unfair. I mean, how ever will they survive?

alcazar

iTrader: (2)

And from the government, which means everyone........

zip106

Come on Chris, you're smarter than that.

It's not about 'surviving', but having worked fooking hard all your working life to better yourself and reap the rewards.

Had the tax been on earnings over £250k then I'd agree.

Don't forget, if you earn over £100k you get no personal allowance so effectively paying 60% anyway.

For the record, I'm way off having to pay 45 / 50%.

Chip

There are plenty of ways to avoid paying anything other than 20% tax anyway.

zip106

Not so easy when you're PAYE.

Midlife......

iTrader: (2)

Impossible on PAYE...... 40% TAX, 11% NI and 13% pension...

Shaun

cster

Nice to see someone has noticed this, though it drops back once the PA has accounted for at the rate of 50p in the pound.
So you pay higher rate at 100K than you do at 130K.
Who says tax has to be fair?

stevebt

iTrader: (8)

Its only over £150k before the recession I was in a high band where I always had to pay a fortune extra on top of the tax I had paid and it always pi5sed me off, now that I get tax rebates due to my money being lower I know what I would rather pay.

I wish I was complaining about having to pay £50k tax a year as if I'm paying it I'm making it

madscoob

iTrader: (3)

not true, if you are working for a company as a company yourself you ie your company will only pay corperation tax, which amount's to sod all if you/your company has a good accountant

Midlife......

iTrader: (2)

......NHS Employee so no escape.

Shaun

Dingdongler

Exactly. That's why the 50% rate is counter productive. Lots of people who were paying 40% tax became limited companies when the new rate was introduced and then ended up paying 20%

alcazar

iTrader: (2)

Some do, most don't. Only in a huge secondary with a sixth form would they get substantially more.

But there are NO perks in being a headteacher...even the long holidays are generally filled with work from home, and any holidays taken must be taken in the peak periods.

cster

Yeah - all 13 weeks of them!

Chip

So we know who wears the trousers in your house then

zip106

To earn 7 times the national minimum wage means you have to pay 45 times more tax.

I though Socialism was all about fairness?

f1_fan

iTrader: (9)

Wht a bunch of selfish moaning w4nkers you lot are. We are supposed to be a civilised society where those less fortunate get helped by those more fortunate. That at the end of the day is the crux of nearly all Western economies... and most of those are capitalist not socialist!

If you qualify to pay 50% tax you are not exactly on the breadline so stop f**king moaning. If you extrapolate all this sort of thinking then I would rather pay less tax as I have no kids to educate etc. and I object to paying for yours!!! So on and so forth!

Turbohot

Well, another drastic way to balance financial equality can be that no one should be allowed to earn 7 times higher, and everyone should be on the same wage- fair and square to some eyes. Not my view, but just saying. But that will also cause tremendous unrest.

Countries aren't easy to run- that's what I'm definitely saying.

zip106

Entirely agree.

Like having private health means we should get a reduction in tax.
Sending kids to private school - reduction in tax.
Living in an affluent village that pays more than average council tax and has no street lights, no pavements, verges tended by the inhabitants etc - reduction in tax.

And so forth.

It all stems from jealousy and those that can't be arsed to better themselves.

As I said before - I'm nowhere near paying 50% tax, nor even 40%, I just think it's an unfair system and frankly laughable that those that earn £150k are perceived to be rich.

Only idiots think that.

Chip

I think if the money did go to those that need it most then it would be a different matter. Unfortunately it doesn't.

f1_fan

iTrader: (9)

I think if you were earning £15K then you would perceive those earning £150K as rich.... and you wouldn't be an idiot either.... just saying!

f1_fan

iTrader: (9)

And never will do with the system we have. True socialism would be a good way forward, but there is no such thing because greed and stupidity always seem to get in the way!

zip106

Chris, when I said idiots I meant MP's...

I'd suggest that most of those earning £150k now did indeed once earn £15k.

And to answer Turbohot - if everyone earnt the same there would have to be massive tax rates - don't forget the top 1% earners contribute 29% of total tax paid...