Benefit Payouts Will Exceed Income Tax Revenue

[bobmo]

....Hard working families

This is what gets me, 160bn is enough to pay almost everyone job seekers allowance, or shared rent in a nice flat. Where does the rest go?

Admin

[TheCountOfNowhere]

This doesn't surprise me, I know two single mums ( divorced ) on Tax credits of 600+ quid per month....thats on top of the CSA money they get and money from working...one of them is on the equivalent salary of 50K per year...somehow I dont think this is right !!!!

This has got to change.

[Tim Miller]

Just borrow the money and let the younger generations pay for it.

whats a little more debt on top of what they owe anyway.

Problem solved....................And if they have half a brain they can pass it on to their kids........................next problem.

[Georgia O'Keeffe]

Yes, all we need is less taxes, benefits, and to create more growth and prosperity.

complete poppycock, this is totally the wrong thing to do

[winkie]

complete poppycock, this is totally the wrong thing to do

...and your suggestions? to get out of this obvious mess that has been created?

Soon it will hardly be worth working for many...that is even if they can get a job.

[hedgefunded]

Well now that me and Mrs Funded just work 20 hours per week each (making about 5k each per year self employed) we're eligible for working tax credit and child tax credit.

The lovely Mr Brown is going to bung us an extra £100/week cash to top up our income to £15k.

I'm entitled to it, and God knows I paid enough income tax over my employed years, but with £130k in the bank and no mortgage, I can't help feeling that this is why the country is in a mess.

[Georgia O'Keeffe]

...and your suggestions? to get out of this obvious mess that has been created?

Soon it will hardly be worth working for many...that is even if they can get a job.

more taxes, more benefits, and a bigger state, anything else is simply offensive to anyone with decent Presbyterian morals

[winkie]

Well now that me and Mrs Funded just work 20 hours per week each (making about 5k each per year self employed) we're eligible for working tax credit and child tax credit.

The lovely Mr Brown is going to bung us an extra £100/week cash to top up our income to £15k.

I'm entitled to it, and God knows I paid enough income tax over my employed years, but with £130k in the bank and no mortgage, I can't help feeling that this is why the country is in a mess.

People will do what the system allows and why not....the system is wrong, has failed and requires a total overhaul.

[fiddlethefigures]

Well now that me and Mrs Funded just work 20 hours per week each (making about 5k each per year self employed) we're eligible for working tax credit and child tax credit.

The lovely Mr Brown is going to bung us an extra £100/week cash to top up our income to £15k.

I'm entitled to it, and God knows I paid enough income tax over my employed years, but with £130k in the bank and no mortgage, I can't help feeling that this is why the country is in a mess.

Why dont you turn that money into precious metals then if you get means tested the state wont know what wealth you have then you can claim even more from the state no need to miss out on the gravy train now is there.

[Guest Parry]

Got to say this thread makes for a depressing read. Seems like their 'system' is total carnage.

[Sinking Feeling]

Got to say this thread makes for a depressing read. Seems like their 'system' is total carnage.

On the positive side your 'depression' will now allow you to ride the gravy train of sickness benefit for all it is worth!

[durhamborn]

Clearly signs of a recovery.

Its much worse than the figures.The government class tax credits as tax cuts NOT benefits.Ludicrous of course so add on another £24 billion.

This is the real reason for recession,and the reason we wont come out of it with any meaningfull growth.

Lets imagine what this really means.If you did away with welfare you could lower higher rate tax to 20%,and do away with lower rate income tax AND lower paid national insurance.

Two outcomes.A working couple on average wages would have £800 a month more income.So that pain in the **** gardening,well id get someone in.Maybe a young lad starting out who is now on the dole.

Next door see him and ask him to do theirs.This lad soon has a business instead of £60 dole.The country gets economic growth.

My other half would visit the salon more often for sure.The business would have to take on more staff,perhaps a young girl just leaving school.

The other outcome.Wages could fall by a lot,say half what goes in tax.This would make our manufacturing industry very competitive.The lie we cant compete due to wages is ridiculous.We cant compete due to tax.Every £ paid to someone who refuses to work is another nail in industry.

The welfare system is a disaster.It rips of workers and worst it fails the poor.People who work hard and pay the tax while people get it and do nothing.Scrap welfare and the people then spend the money creating demand,creating jobs,creating growth.

This is the only real way to deal with poverty.Free the market from socialism.If we dont,this country will never ever recover.It will sink until we have total collapse.It traps people,it lowers aspiration and it destroys wealth creation.

The left always accuses people who oppose welfare as hating the poor.Thats rubbish.Reduce welfare slowly alongside tax cuts and the economic growth will do more to deal with poverty than any welfare system ever will.

The truth is Labour love the control.Freedom of choice is the enemy they hate most.

[bogbrush]

This is upon us now, there's no avoiding the meltdown to come.

The good news is that subsequently a better nation will emerge. The bad news is that if you had worked to create something then it will be lost.

[stormymonday_2011]

That's incredible. Even last year for almost every pound paid in income tax by a working person, there was some scrubber taking a pound out!

This is just Income Tax and does not include NIC, Corporation Tax, VAT etc

BTW I am not saying the governments finances are not a mess, just that benefits are only part of the problem.

Most of the recent huge surge in deficits are due to the bailout of the banking system which is essentially the state underwriting private debt.

Any way benefit cuts, tax rises and riots are all on the cards after the next election regardless of which party gets into power.

[Fishman]

Its much worse than the figures.The government class tax credits as tax cuts NOT benefits.Ludicrous of course so add on another £24 billion.

This is the real reason for recession,and the reason we wont come out of it with any meaningfull growth.

Lets imagine what this really means.If you did away with welfare you could lower higher rate tax to 20%,and do away with lower rate income tax AND lower paid national insurance.

Two outcomes.A working couple on average wages would have £800 a month more income.So that pain in the **** gardening,well id get someone in.Maybe a young lad starting out who is now on the dole.

Next door see him and ask him to do theirs.This lad soon has a business instead of £60 dole.The country gets economic growth.

My other half would visit the salon more often for sure.The business would have to take on more staff,perhaps a young girl just leaving school.

The other outcome.Wages could fall by a lot,say half what goes in tax.This would make our manufacturing industry very competitive.The lie we cant compete due to wages is ridiculous.We cant compete due to tax.Every £ paid to someone who refuses to work is another nail in industry.

The welfare system is a disaster.It rips of workers and worst it fails the poor.People who work hard and pay the tax while people get it and do nothing.Scrap welfare and the people then spend the money creating demand,creating jobs,creating growth.

This is the only real way to deal with poverty.Free the market from socialism.If we dont,this country will never ever recover.It will sink until we have total collapse.It traps people,it lowers aspiration and it destroys wealth creation.

The left always accuses people who oppose welfare as hating the poor.Thats rubbish.Reduce welfare slowly alongside tax cuts and the economic growth will do more to deal with poverty than any welfare system ever will.

The truth is Labour love the control.Freedom of choice is the enemy they hate most.

Laissez-faire capitalism in theory is fine.

Show me a genuine long term example that has worked.

[fiddlethefigures]

Laissez-faire capitalism in theory is fine.

Show me a genuine long term example that has worked.

The neocheaters throughout history have always lived of the value producers.

[Guest pioneer31]

Social security benefits are projected to be £164.7 billion

WTF?!

Oh yes. An utter disgrace :angry:

The DSS benefits bill is to me what liar loans are to Eric pebble.

I've been banging this drum for quite some time.

[Fishman]

Oh yes. An utter disgrace :angry:

The DSS benefits bill is to me what liar loans are to Eric pebble.

I've been banging this drum for quite some time.

The middle/higher classes should think of it as an extention to the Defence budget - it's an internal peace keeping cost to defend their lifestyles.

[Guest pioneer31]

The middle/higher classes should think of it as an extention to the Defence budget - it's an internal peace keeping cost to defend their lifestyles.

Yes....and the govt will cut everything else before they go anywhere near the welfare state.

Teachers hours? cut 'em! - they won't riot

Disabled? cut em - they aren't able to riot

the elderly - **** em - see above

Without resolving to Nazi techniques, I can't see how we will solve the chav/benefit problem

[dr ray]

The middle/higher classes should think of it as an extention to the Defence budget - it's an internal peace keeping cost to defend their lifestyles.

We are actually seeing Democracy as a political doctrine hitting the buffers.

In a system where people can vote for the party that gives them access to the government coffers the democratic process eventually fails as the coffers become depleted.

We are at that stage now.

What is needed next would not be acceptible to the voters and the choice is bankrupcy and destitution for the country or a dictatorship (possibly an IMF dictatorship). Or more likely one followed by the other.

[Guest AuntJess]

Its much worse than the figures.The government class tax credits as tax cuts NOT benefits.Ludicrous of course so add on another £24 billion.

This is the real reason for recession,and the reason we wont come out of it with any meaningfull growth.

Lets imagine what this really means.If you did away with welfare you could lower higher rate tax to 20%,and do away with lower rate income tax AND lower paid national insurance.

Two outcomes.A working couple on average wages would have £800 a month more income.So that pain in the **** gardening,well id get someone in.Maybe a young lad starting out who is now on the dole.

Next door see him and ask him to do theirs.This lad soon has a business instead of £60 dole.The country gets economic growth.

My other half would visit the salon more often for sure.The business would have to take on more staff,perhaps a young girl just leaving school.

The other outcome.Wages could fall by a lot,say half what goes in tax.This would make our manufacturing industry very competitive.The lie we cant compete due to wages is ridiculous.We cant compete due to tax.Every £ paid to someone who refuses to work is another nail in industry.

The welfare system is a disaster.It rips of workers and worst it fails the poor.People who work hard and pay the tax while people get it and do nothing.Scrap welfare and the people then spend the money creating demand,creating jobs,creating growth.

This is the only real way to deal with poverty.Free the market from socialism.If we dont,this country will never ever recover.It will sink until we have total collapse.It traps people,it lowers aspiration and it destroys wealth creation.

The left always accuses people who oppose welfare as hating the poor.Thats rubbish.Reduce welfare slowly alongside tax cuts and the economic growth will do more to deal with poverty than any welfare system ever will.

The truth is Labour love the control.Freedom of choice is the enemy they hate most.

+1

I have seen little businesses go to the wall, squashed out by 'the big boys' and ground under the heel of taxes. I think that Gorgo and his big business mates want a monopoly: ergo no competition, and less choice for the consumer. This sanctimonious, smug, self-serving, totally inadequate govt. make me want to vomit. :angry:

[3 Men In A Boat]

This sanctimonious, smug, self-serving, totally inadequate govt. make me want to vomit. :angry:

and we have another 12 months of them... :angry:

Gordy Gimp better be making his plans to get a little place in the middle of the pacific (he can't go to the Turks and Caicos now ) to see out his remaining days after leaving the car crash of an economy

[winkie]

+1

I have seen little businesses go to the wall, squashed out by 'the big boys' and ground under the heel of taxes. I think that Gorgo and his big business mates want a monopoly: ergo no competition, and less choice for the consumer. This sanctimonious, smug, self-serving, totally inadequate govt. make me want to vomit. :angry:

High rents, high business rates = no business, so no taxes.

There reaches a point when finally it is just not worth it.

Edited June 27, 2009 by winkie

[interestrateripoff]

This really brings out the Uber Tory in me. We need to immediately slash all benefits.

That said, I am not sure how without causing riots.

But seriously there are too many on invalidity benefits, dole and people receiving child benefit and free bus passes who clearly don't need them.

You don't appear to get the irony of what you are saying, which idiot party decided to massage the unemployment figures by encouraging people to go on invalidity benefits? Any guesses?

Don't worry the way things are going we'll soon be paying more out in interest repayments than there is income tax and no amount of slashing budgets will help.

Remember perpetual debt is perpetual wealth.

Vote Brown as he's the only one to really understand this.

[Guest Parry]

It wasn't the best novel, but the premise of the book is apt for this thread.

http://www.amazon.co.uk/Atlas-Shrugged-Pen...8851&sr=1-1

There's cheaper copies, not looked for an e-book of it.

http://en.wikipedia.org/wiki/Atlas_shrugged