2022 mini-budget discussion

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Righties melting down over the left wing media forcing this u-turn. Presumably the banks and financial institutions are also lefties.

How about loads of your own party saying they will not vote for it. :cry:

Didnt seem to mind too much when the same left wing media lied to get Brexit. Didnt seem to mind too much when that left wing media printed endless lies about Corbyn.
 
Ahleckz said:
Tom said it was mid level people in professional services, they aren’t taking risks with their own money. I’d say the small business owners, the sole traders and the like who are risking their own money are the ones taking the most risk.

But, I’m a mid level person in the professional services but far from £100k so maybe I’m just jelly…
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Ahleckz said:
Oh come on. If you’re earning £100k+ then you could have masses amounts of disposable income.

They can definitely afford to, and should, pay larger amounts of tax on the large sums of money they earn.

These people aren’t struggling and can definitely cut down easier than those in the lower bands.
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you live in a very very low-cost area. If you work in London on 100k, are a single-income household, and live in, or an area commutable to and pay the commuting costs to, London, then the costs will be hugely higher than around you. Just because £100k would be a lot for you, it doesn't mean it's a lot for people in different scenarios. As already pointed out, people already lose their childcare allowance etc. Do I think they are breadline? No. Do I think 60% marginal tax on them is remotely proportionate? absolutely not. Someone in Glasgow on 50-60k is probably far better off than someone in the southeast on 110k yet pay far far less tax. That's madness.
 
dLockers said:
See my post above (quoted for your benefit:)




The £100k hit changes behaviours significantly. It also doesn't "net benefit" society to have the tapering allowance.

Edit: Tell a lie, you do net-benefit the economy as you end up thinking "sod it I'll get an electric car" - also paying no/bare minimum tax.
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100% It promotes a lot of tax avoidance.
 
wildman said:
looking forward to slaying 10 bears, handing over their pelts and getting rewarded with a +1 cloak of throat punching, will be mint.
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It's more like Deliver a Big Mac and Large Fries for 50 tuppence.
]
your local mcdonalds likely even has a table roped off for questers
 
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rG-tom said:
you live in a very very low-cost area. If you work in London on 100k, are a single-income household, and live in, or an area commutable to and pay the commuting costs to, London, then the costs will be hugely higher than around you. Just because £100k would be a lot for you, it doesn't mean it's a lot for people in different scenarios. As already pointed out, people already lose their childcare allowance etc. Do I think they are breadline? No. Do I think 60% marginal tax on them is remotely proportionate? absolutely not. Someone in Glasgow on 50-60k is probably far better off than someone in the southeast on 110k yet pay far far less tax. That's madness.
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I agree. Being a southerner I have always felt like I pay a disproportionately large amount of tax for the lifestyle I have compared to those north of the wall. I suggest that we add 5% onto all rates for people north of the M25 or a 5% discount for those south of it. Either or.
 
dLockers said:
See my post above (quoted for your benefit:)




The £100k hit changes behaviours significantly. It also doesn't "net benefit" society to have the tapering allowance.

Edit: Tell a lie, you do net-benefit the economy as you end up thinking "sod it I'll get an electric car" - also paying no/bare minimum tax.
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Ordering my salary sacrifice car imminently. Pension is being maxed. Might get a new ride to work bike whilst I'm at it :D
 
Bouton Aide said:
Should have left it at 45% over 150k. Problem is if they did that these earners will find a way to scam the economy even more and avoid tax even more.
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I would have rised the basic from £12,500 to £15,000 and the 45% to £200,000. It would have gone down a heck of a lot better
 
All that needed doing was raising the basic. I don't think any other changes are needed.

I still agree with keeping the NI increase too.
Public services are in a state.
 
dLockers said:
See my post above (quoted for your benefit:)




The £100k hit changes behaviours significantly. It also doesn't "net benefit" society to have the tapering allowance.

Edit: Tell a lie, you do net-benefit the economy as you end up thinking "sod it I'll get an electric car" - also paying no/bare minimum tax.
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Agreed. If they had got rid of the personal allowance removal rather than the 45% tax rate, it would have been a much better idea. Rumour has it that is exactly what he planned to do in the full budget next month. He might decide not to after the 45% rate problem!
 
fez said:
I agree. Being a southerner I have always felt like I pay a disproportionately large amount of tax for the lifestyle I have compared to those north of the wall. I suggest that we add 5% onto all rates for people north of the M25 or a 5% discount for those south of it. Either or.
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To be fair, we do already pay an extra 1% in Scotland.
I accept Glasgow has a lower cost of living but then wages are much lower as well. The reason there is often London weighting’s for jobs is testament to that.
Also, there’s much more investment in London than elsewhere so unfortunately if you want the benefit of living there then of course the downside is the expense.

There’s no arguing that someone earning over 100k is struggling or has no money. They are also in a much better position to cut back. I’d also suggest child care benefits are tailored off well before that point.

I’m not sure if a 60%MRT is fair for those above 100k - it’s probably not, and I’d probably have the 45 rate being 50 and kick in at 100k but no loss of tax free allowance. But I certainly won’t be worrying for those that earn over 100k and those that are arguing that it’s a bad thing are pretty out of Touch Id suggest!
 
fez said:
I agree. Being a southerner I have always felt like I pay a disproportionately large amount of tax for the lifestyle I have compared to those north of the wall. I suggest that we add 5% onto all rates for people north of the M25 or a 5% discount for those south of it. Either or.
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On the other hand you get paid a hugely disproportionate larger salary for doing the same job as somebody up North so it is already compensated.

I know with my other half, in pharmaceuticals, if she was prepared to move and live down south she could earn at least 30% more than she gets paid up North, probably 50% more with little effort.
 
Greebo said:
Agreed. If they had got rid of the personal allowance removal rather than the 45% tax rate, it would have been a much better idea. Rumour has it that is exactly what he planned to do in the full budget next month. He might decide not to after the 45% rate problem!
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It would be a game changer IMO. And talk about simplifying the system - that is thousands less folk having to do self assessments!

Dirk Diggler said:
All my leave is unpaid, so I've started taking time off to reduce the tax hit. It's improving my work life balance, but not quite the intention of the tax rules, I'm sure.
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Yeah my boss was amazed when I said it would only cost £500/mo (NET!) to drop 20% of my hours.
 
I pay a ton of tax, both corporation and personal tax.

I definetly put my money's worth for services like the NHS etc yet those services are becoming worse every day so why bother? i may as well not pay tax and just instead, pay privately for NHS etc.

Basically i bet i am not the only who thinks along the lines of

"hey, i am paying loads and loads of tax, more than the average joe and it keeps increasing yet the level of community services such as policing, the roads, schools, nhs etc is becoming worse and worse every day! where is my tax money going to??"
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