would you still work if

Basher said:
Indeed, and one which was dreamt up by Mr Darling with no science behind it. Personally I think that is absolutely outrageous.
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Why's that? Do you think that people on 150k will be bothered by this? They'll hardly be paying any tax anyway as a large chunk of their income will probably come via shares/options rather than cash, as they are more "tax efficient".

All that will happen is that salary over 150k will be taken as shares/options.

There IS science behind it, it makes the poorly educated think that the rich are getting stuffed, when - in fact - the opposite is true, because it'll make the high earners probably pay LESS tax in total as they shift from salary to alternative methods of income - at 40% it's not really worth the hassle (because Gains tax is the same), at 50% people will shift out to save that 10%, meaning a drop of tax revenue.

Never ceases to amaze me that people think the government just "does things at random" and hopes for the best, it's all calculated, even the credit crisis...

:)
 
Mr^B said:
Why's that? Do you think that people on 150k will be bothered by this? They'll hardly be paying any tax anyway as a large chunk of their income will probably come via shares/options rather than cash, as they are more "tax efficient".

All that will happen is that salary over 150k will be taken as shares/options.

There IS science behind it, it makes the poorly educated think that the rich are getting stuffed, when - in fact - the opposite is true, because it'll make the high earners probably pay LESS tax in total as they shift from salary to alternative methods of income - at 40% it's not really worth the hassle (because Gains tax is the same), at 50% people will shift out to save that 10%, meaning a drop of tax revenue.

Never ceases to amaze me that people think the government just "does things at random" and hopes for the best, it's all calculated, even the credit crisis...

:)
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I'm not arguing whether it's right or wrong, I am saying that Darling did no sums to calculate its actual value to the economy before making the decision - which is clearly very silly indeed.

It was not calculated, read the telegraph on Sat and Darling recent interviews, he said it was a quick decision he made with "no real science behind it".

Asked how he had arrived at the new 50 per cent rate for those earning £150,000 a year and above, Mr Darling said: "There is no science behind it.
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Source:http://www.telegraph.co.uk/news/new...lucked-50p-tax-rate-figure-from-thin-air.html
 
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'tis like cutting ones nose off. Some of us have lived through higher taxes and high interest rates before so nothing new. We managed then so we'll manage in the future.

Pointless comment to make unless, as said, you fancy sponging.
 
I would still work as it is all I know.

I left school in the middle of a recession in the early 90s and was lucky enough to find work in one of the worst unemployment blackspots in the country.

I have never claimed a penny off the state and I have no intention of using the taxpayer as a chez longe.
 
Most people earning in excess of £100,000 will have enough money (or skilled accountants) to avoid the tax anyway - so it's rather pointless. These days there are so many ways to avoid paying it the rich see the system as a bit of a joke

Even after all these years no government has tackled the Issue of Tax Avoidance properly (probably because they would suffer also)
 
Of course - I'd still be getting 60%ish of what I earnt!

What's the alternative? Claiming benefits? I couldn't live the lifestyle I have now if I claimed benefits.

Stoopid thread.

Remonds of of people at work saying it's not worth doing over time as the government get most of the reward. Erm, no they don't they get about 30% of it (if under the 40% bracket) so you still get rewarded for 7 out of 10 hours you work - plus you're contributing to society and helping out the collective.
 
divosuk said:
Most people earning in excess of £100,000 will have enough money (or skilled accountants) to avoid the tax anyway - so it's rather pointless. These days there are so many ways to avoid paying it the rich see the system as a bit of a joke

Even after all these years no government has tackled the Issue of Tax Avoidance properly (probably because they would suffer also)
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that is frankly massively exagerated , there is no way around a lot of tax for someone earning as you say in excess of £100,000 through typical means. I have a big name accountant and it simply isn't the case that they can avoid tax for you to any great degree.

The mega rich, that is a different matter.
 
divosuk said:
Most people earning in excess of £100,000 will have enough money (or skilled accountants) to avoid the tax anyway - so it's rather pointless. These days there are so many ways to avoid paying it the rich see the system as a bit of a joke

Even after all these years no government has tackled the Issue of Tax Avoidance properly (probably because they would suffer also)
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You make it sound a lot easier than it actually is. Big earners on PAYE will lose out and many do not have all that many options practically available to them to offset the loss through compensation through other channels.
 
I've lived quite happily on half my current earnings, so wouldn't make a jot of difference, other than I guess would have to cut down a bit on luxuries and/or money being saved.
 
divosuk said:
Most people earning in excess of £100,000 will have enough money (or skilled accountants) to avoid the tax anyway - so it's rather pointless. These days there are so many ways to avoid paying it the rich see the system as a bit of a joke

Even after all these years no government has tackled the Issue of Tax Avoidance properly (probably because they would suffer also)
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I love it when people start spouting this rubbish. As if anyone making a bit of money is magically let into a secret club where they don't have to pay any tax and they get to stamp all over the working poor.

In actually fact you'll find that they either have to pay tax like everybody else or move country.

Oh and even if you get paid in dividends etc you still have to pay tax, just not NI I believe.

* On a side not the IMF reckon Mr Darling is only going to make about %20 of what eh originally thought he was going to make through the 50% tax as people are preferring to move country rather than pay it. Some estimates reckon he may actually lose money.
 
Burnsy2023 said:
I assume he doesn't earn above the personal allowance.
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yep, been there done that when I was a student.

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'tis the only way my friends. Capt'n Cartmans Pirate Adventure Awaits ye!
 
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