Soldato
in a way now not looking forward to getting my 1st full-time job, as i'll certainly get screw'd over, thanks Gordon. not!
10p tax rate loss
- Thread starter Gaspode
- Start date
Associate
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- 8 Jan 2004
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I don't understand why it is only now becoming a big issue. It was announced over a year ago and nobody really bothered. It's made me better off and therefore more likely to vote labour.
Soldato
It's only now people are finding out they'll lose money which is why they're now concerned. A lot of people don't think about something until it's very close to happening.
I'm inclined to agree - here's what I wrote in another thread on the subject:
One thing I've been absolutely astounded by is the sudden media reaction to this in recent weeks. This was announced over a year ago, but very few people seemed to give a damn at the time. I remember commenting that it seemed totally alien to me that Labour were bringing in such a policy, given that effectively it was hitting the lowest earners.
I'm not going to get into the debate as to the merits of a progressive/regressive tax system, I just find it incredible that people are only now making a fuss, rather than after the budget was announced in 2007 when I was bringing it up. If it is such a crucial and important issue, why weren't more people shouting from the rooftops back then? Heck, even if you concede that maybe it is only the fact that it is actually changing now that has stirred the average man on the street to notice, surely all these polititians on their high horses should have picked up on it at the time if they can even remotely consider themselves to have their finger on the pulse of government
One thing I've been absolutely astounded by is the sudden media reaction to this in recent weeks. This was announced over a year ago, but very few people seemed to give a damn at the time. I remember commenting that it seemed totally alien to me that Labour were bringing in such a policy, given that effectively it was hitting the lowest earners.
I'm not going to get into the debate as to the merits of a progressive/regressive tax system, I just find it incredible that people are only now making a fuss, rather than after the budget was announced in 2007 when I was bringing it up. If it is such a crucial and important issue, why weren't more people shouting from the rooftops back then? Heck, even if you concede that maybe it is only the fact that it is actually changing now that has stirred the average man on the street to notice, surely all these polititians on their high horses should have picked up on it at the time if they can even remotely consider themselves to have their finger on the pulse of government
Soldato
Soldato
I wouldnt worry about it. This goverment are shafting themselves daily in a crazy bid to get themselves thrown out of gov.
How do the rich become richer from this move?
The labour government brought in the lower tax band to try and improve the poor persons lot - maybe they need the money for something else now like, I dunno,maybe fighting global terrorism or trying to prop up the economy and avoid a recession? I dont begrudge them taking it away really since we wont be any worse off than we were when they introduced it.
It's not that, it's because the cost of living has risen in between the last budget and now. The Tories out the time were pointing out that this was in effect a tax increase. Now, food and fuel are going through the roof, people are struggling to pay mortgages, and so rightly or wrongly they're focusing on this issue.
Soldato
- Joined
- 22 Feb 2008
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- 11,108
I'm a little confused about Working Tax Credit. Do you have to be earning below a certain amount to be eligible?
I'm 25, my wife 26, no kids. We own our home and pay a mortgage, both work full time hours (42 hours a week) with household income of around £42,000pa. However, using the calculator on the Directgov website it says we're entitled to nothing in WTC? Is this right? Am I missing something?
I'm 25, my wife 26, no kids. We own our home and pay a mortgage, both work full time hours (42 hours a week) with household income of around £42,000pa. However, using the calculator on the Directgov website it says we're entitled to nothing in WTC? Is this right? Am I missing something?
Soldato
Simple Brown thinking, the guy lacks the political spin skills that Tony had. He lowered the over tax rate for front page headlines because he thought he was going to call a general election then bottled it.
This was done by removing 10p tax rate which wasn't announced at the budget. To be honest it has only come to light now so if he had fought an election in October his tactic would have probably worked.
This was done by removing 10p tax rate which wasn't announced at the budget. To be honest it has only come to light now so if he had fought an election in October his tactic would have probably worked.
Yes it was highlighted in the 2007 budget. Lots of people DID criticise it at the time. Just most of the media hailed the basic rate cut from 22p to 20p and for some unknown reason - not because it was a secret - glossed over the 10p rate being abolished.
Yes.
Er by getting an income tax cut?
The "rich" aren't really getting any richer it is more that the middle classes are paying a bit less tax. The rich are paying more I believe as the changes to NI start to outweigh the changes to income tax around 40k or so.
Okay, if we're going to be pedantic - no, people who are actually "rich" might not be better off.
Middle earners will be. Whether middle earners are middle CLASS is another issue, because class and income are not directly related. One can be middle class but unemployed or low paid, or working class but earning a high wage.