2022 mini-budget discussion
- Thread starter Harlequin
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But if you stop buying avocados and the latest smart phone, you'll soon have enough money to buy a second house...
The only thing I'd add and as above it's hardly a crying poverty or looking for sympathy thing is that I think it would shock many as to how much you have to earn to be/act properly "rich".
Having found myself in this situation it's actually pushed me much further left.
Like, yes I live in Surrey in a stupidly expensive house for what it is.. genuinely quite small 3 bed semi over £750k.. I came here because it's like 30-45 minutes from the office. I have a 200k miles 1 series that I paid off years ago and go on holiday once a year.
And yes my income covers this but it's hardly multiple holidays, flash cars and huge houses.
And this is it? This is what striving gets you? And omfg if you're not here, how on earth do you manage?
Like my combined household income is.. substantial.. and yes we're putting on jumpers and avoiding putting the heating on because a big hike in the bill would be annoying.. Imagine it being financially existential?
And the tax system is ****** and thats not because of the top rate, it's because of the marginal rates. Like too many middle earners pay high rate tax, the high rate isn't high enough, too much of the highest earners money is not wages so needs to be taxed more effectively, stamp duty is regressive and idiotic (i've already paid tax on this once?), house prices are ridiculous and I still live for the day people wake up to them being an anti motivation.. like what on earth is the point of working your arse off to never own... this?
And then weird stuff like at the £100k you have to submit a tax return, why? I'm still an employee, then out of the blue you get a weird demand about losing your tax free allowance in bizarre stages.. it's all super odd.
And yet, despite these arguments none of this has ever made the slightest scrap of difference to how hard I or any of my peers/colleagues have ever worked.
I've never met a single person who's said "no thanks, I won't earn X bonus or go for Y job because it'll top me over a marginal pay boundary" it's just total gaslighting crap to justify gifts for the even wealthier.
Having found myself in this situation it's actually pushed me much further left.
Like, yes I live in Surrey in a stupidly expensive house for what it is.. genuinely quite small 3 bed semi over £750k.. I came here because it's like 30-45 minutes from the office. I have a 200k miles 1 series that I paid off years ago and go on holiday once a year.
And yes my income covers this but it's hardly multiple holidays, flash cars and huge houses.
And this is it? This is what striving gets you? And omfg if you're not here, how on earth do you manage?
Like my combined household income is.. substantial.. and yes we're putting on jumpers and avoiding putting the heating on because a big hike in the bill would be annoying.. Imagine it being financially existential?
And the tax system is ****** and thats not because of the top rate, it's because of the marginal rates. Like too many middle earners pay high rate tax, the high rate isn't high enough, too much of the highest earners money is not wages so needs to be taxed more effectively, stamp duty is regressive and idiotic (i've already paid tax on this once?), house prices are ridiculous and I still live for the day people wake up to them being an anti motivation.. like what on earth is the point of working your arse off to never own... this?
And then weird stuff like at the £100k you have to submit a tax return, why? I'm still an employee, then out of the blue you get a weird demand about losing your tax free allowance in bizarre stages.. it's all super odd.
And yet, despite these arguments none of this has ever made the slightest scrap of difference to how hard I or any of my peers/colleagues have ever worked.
I've never met a single person who's said "no thanks, I won't earn X bonus or go for Y job because it'll top me over a marginal pay boundary" it's just total gaslighting crap to justify gifts for the even wealthier.
Same as someone earning 20k right. Why don't they just on the dole? Get a council house?
Why does anyone work?
Hang on I think you've evoked an actual existential crisis, brb
I don't agree, you don't have to go on holiday, you don't have to have a car if you live in London, you don't have to live in that huge house. I doubt anyone who's on 100k is going to starve because avocados in Waitrose have gone up by 20p
So struggling is a stupid word to use on anyone like that.
Soldato
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Can't you just get a better job with higher wages?
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Jake Berry: People struggling with bills 'should get a new job'
Tory chairman Jake Berry sparks anger with his comments at the Conservative Party conference.
www.bbc.com
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Caporegime
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At the rate of how mortggaes have sky rocket, some will literally have to sell there houses and live on rental accomodations etc. Thats a massive cut back.
The whole point was that with 100k salary, you can struggle at times like these.
Yes not to an extent to someone living in a council flat in a dodgy area(i was brought up and raised in such an area) but still you are having to make cut backs/downgrades etc when looking from the outside in, why the **** does someone on a 100k salary have to make cut backs? Why cant a 100k salary pay for a 2-3 bedroom property they own and live relatively comfy with sky tv and netflix and a bog standard HD TV , a gaming console and food they can buy in tesco's?
We aint talking about those who buy ferrari's, have rolex watches and 8k TV's etc. We talking basic ******* needs such as a basic victorian house and basic standard entertainment at home....
But can u see how even someone earnintg 100k as to make cut backs on basic every day stuff?
The more we let this happen, the more the goal posts move and people with earn 200k+ will need to cut back too
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Really? Mate I am not doing one more ounce of "side of desk" till I see real money in my pocket. That means tax effective incentives or a massive payrise so I am well clear of tapering.
With the forecast percentage increase my mortgage will go up by ~£600. So you're right, 20p on an avacado won't hurt me - but a massive rate change on my mortgage certainly will.
Caporegime
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Caporegime
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What huge house? many on 100k salaries live in a 80sqm flat or small 2-3 bedroom house lol
Why the hell aren't you a long fixed mortgage?? If I was on that kind of money I would have made sure I was protected by at least 5 years if not 10. So I circle back to my point on bad money management
Because the bountiful "choices" I am presented with cost a low percentage of a massive number. To extend my fix beyond 2 years meant paying a £9k ERC.
[boomer hat] You've obviously over extended yourself, we had 15pc rates, and had to work two jobs. Stop eating those avocados [/Boomer hat]
Rent is almost always more expensive than a mortgage. Thats the fundamental issue. You have to sell up and take a sizeable downgrade in your home to even hit parity with rent vs mortgage.
See, told you - doesn't matter whether you are earning £10k and signing up for a £30/mo phone bill or £100k and signing up for a £3k mortgage.
Again, that's a lack of research on your part. I just got another 5 year fix at 1.75% from Halifax this May. I doubt we would have got much cheaper on VR and even if so now you're going to pay more for not being on a fix rate, aren't you?
It is our fault I guess. If this interest rate spike had happened in 2021 I'd have been screwed.
It is my fault. My mortgage was too high. And I'd be left with a 400ppm bill increase.
I could afford it. But I'd be struggling.
But over extending on my house is really my fault. It was my risk to take.
I could have taken a cheaper house and maybe be left with a 200ppm increase. Much more managab.
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