How much will someone on 70k get back as net with the proposed cut next week and the one that happened in Jan
National insurance cut
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Soldato
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Well no. Let's be real, any government voted in won't improve things.
They serve themselves, the rich, their mates, or anyone who flashes some cash their way.
They serve themselves, the rich, their mates, or anyone who flashes some cash their way.
We should probably all be paying more tax, not less, but then those taxes should be used wisely, not ****** up the wall by the idiots in power.A lot of people saying "don't lower taxes"...but also a lot of people moaned at the NHS rises not all that long ago - confusing!
I think that’s an overly-negative attitude. The NHS, our schools and local services were in a pretty good state in 2010. Not perfect by any stretch but good.
Then austerity came in and everything has been on a downward spiral since.
Death by a thousand cuts, no point in doing it in one fell swoop.
Soldato
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Apologies. I've just got to that way of thinking now.
I'm only 37 and this is the worst time to be alive I can remember. (in this country I mean)
Soldato
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If I had confidence the government could spend our tax wisely I'd happily give it up, I don't......I'll take the extra £70 a month thanks.
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Its clear that earning a good wage does not correlate with having some common sense/intelligence
Various people told you how to determine what you are asking earlier in this thread. Did you not read the posts? They even quoted you so you should have been notified!
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Soldato
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Increases in the quality of public services should come naturally alongside growth, but there has been no growth.
Can't keep relying on everyone to plug holes when they themselves are not seeing real terms increases on income.
Soldato
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About 90 quid per month depending on your personal tax codes.
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You can, if you're worried about economic growth then far more will come from investment via government rather than cutting things to pay for election grabs. Its so obvious I have no idea why people defend it.
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Soldato
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The track record of government investment is poor though, HS2? PFI's for hospitals? Social housing?
I'd agree with you if the investment was likely to create growth.
While I can’t really afford private school for my kids, or at least don’t want to make the required sacrifices, the people that do send their kids to private school still fund the state school system through their taxes and yet don’t occupy state school resources… arguably it is them that should be getting the tax breaks rather than the schools, but there is definitely an argument to be made for some level of tax efficiency around private education.
Higher rate tax payers already significantly help fund the education for everyone else regardless of whether their kids actually even use it. From figures a couple of years ago the top 1% of earners earned ~13% of all income and yet paid nearly 30% of all income tax, of which a significant chunk goes to education.
I personally know many colleagues who make a lot of sacrifices to put their kids through private school and are resulting certainly not what you would consider “rich” in how they live their lives as a result. That’s their choice, and they are fortunate to have enough to still get by but they are not among the super rich by any stretch of the imagination… so to associate private school only with the elite is erroneous. My own father took on a lot of debt to send my sister and I to a private school, in the hopes he would earn more later on to pay it back.
It’s very easy to get caught up in the ******** the government or media pedal to make us all focus on each other, when in reality the average wage earner in the uk has a lot more in common with a millionaire than the millionaire has in common with a billionaire, at least in financial terms.
The real fundamental issue is the lack of taxation on generational wealth, and the paltry amount of tax the super rich get away with paying… all while concentrating wealth upwards in the biggest divide between the rich and the poor we’ve seen in generations. VAT on private schools is nothing but noise in the context of what is happening there.
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Is that although the cut doesnt apply to higher rates if I recall?
We didnt have pandemics or a population as old as now.in 2010
Soldato
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You have a £12k ish personal allowance, then the next £38k ish benefits from the cut, and anything above that is unchanged at 2%.
3% of £38k is about £1100 so £95 a month or thereabouts.
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Soldato
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You're being sarcastic but its depressingly accurate you could add to that the state of the roads if everyone drives expensive SUV's you won't notice the potholes as your offroad capable gas guzzling monster soaks them all up! Problem solved!
Soldato
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My parents put my sister and I through private school. My dad had a decent job, but not amazing. My mum worked as a freight forwarder, so probably not much above minimum wage even at the end of her career. They just sacrificed a lot. We were never poor, but I would guess that at school, my sister and I were among the least well off. My mum's entire wage paid for us to go to school, and so as a family we basically just didn't do anything expensive or frivolous.
Having said that, I don't think you could afford to do that today.
No, because it's a proposed Employee NI cut not Employer NI cut, so won't change the cost to business.