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Earn over 19k, more tax on the way?


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http://news.sky.com/story/covid-19-those-earning-above-163195k-should-pay-more-tax-to-help-fix-finances-12130088

I actually don't mind paying extra tax for social care, as long as businesses/others pay their way too.  

I'm not too keen on buying a home and then being compelled to sell it to fund any future social care.  I only intend on buying as my children are in a world which presents far less opportunities and will probably require excessive parental support to keep their heads above water.

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I'll emigrate. I might have been lucky and had a good pandemic but working hard, getting professionally qualified and into an essential role wasn't an accident. The self employed got by far the most out of this from government so they could start there. If rises come in I'll start upping my pension contributions to mitigate and if they keep going..... I've already ticked the relocation box at work.....

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I'll emigrate. I might have been lucky and had a good pandemic but working hard, getting professionally qualified and into an essential role wasn't an accident. The self employed got by far the most out of this from government so they could start there. If rises come in I'll start upping my pension contributions to mitigate and if they keep going..... I've already ticked the relocation box at work.....

Where to?

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The Tax system needs transparent reform.  One of Trumps ideas I did like was the 'one page tax return' - it's how it should be for 80% of the population. 

There should also be a clear view on where the wealth is in the Country - finding all the 'hidden' sources (a one off 15% tax would wipe out the national debt IIRC)

Lastly, the idea of unearned wealth should be taxed to oblivion. In a Capitalist system, you should keep what you earn through your own work.  The idea of being handed a lump sum because you came from the 'correct' uterus of an ancestor that was mates with William I is absurd.

 

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I'll emigrate. I might have been lucky and had a good pandemic but working hard, getting professionally qualified and into an essential role wasn't an accident. The self employed got by far the most out of this from government so they could start there. If rises come in I'll start upping my pension contributions to mitigate and if they keep going..... I've already ticked the relocation box at work.....

Yeah, because it's not like there aren't going to be the same problems elsewhere 

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Asia or maybe the USA. Depends on work tbh. 

If staying in EMEA general criteria is low tax, young population and minimal national debt.... though Jersey might be an oddly satisfactory place to relocate to. 

Nice, but few people have any right or chance to move to those place due to restrictive immigration policies.

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Nice, but few people have any right or chance to move to those place due to restrictive immigration policies.

Talk of soaking us with tax rises after I've worked so hard to get a good career and buy a house makes me feel like I did about 10 years ago.. pretty down, feeling like everything was stacked against me (wrt. housing). 

We will have to wait and see but I'm in a very fortunate position and I know I'm lucky with that. As hard as (I think) I work there's been a good run of luck these past few years too. 

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i know tax free should be up to say 30k for low earners. 

Ah I see what you're saying. 

Yep, the Tories (to be fair to them) did lift the tax free allowances and tax bandings but I doubt that'll happen again for a while. They had an ambition to get to £80k before you hit the higher rate of tax.

Back in the day you had to be doing pretty well to be in the higher rate of tax. Now pretty much everyone I know is a higher rate payer and many of them falling foul of the nonsense at £100k marginal rates. 

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I earn an average wage and I'd happily pay more tax if it'd go towards things like the improving the NHS, social care, green infrastructure, social services etc... 

Except its not. It'd be going toward paying off debt for things like cut price meals for the middle classes, duff PPE contracts for Tory mates, PR, a failing test and trace system and supporting non-jobs that don't exist anymore. 

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LibDems promised student fees wouldn't rise, and they tripped.

It was no surprise they did so badly afterwards.

The supporters must have been living in the clouds though - they were the minor party of a coalition, so they were never going to get their way on everything.

What they DID do is get more Liberal policies implemented, and more Liberal influence on other policies, than they had in any government for nearly 100 years.  And what happened?  Their supporters reacted so badly it will probably be another 100 years before they get the chance again.

 

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19k LOL

This is just a tax on the poor. Last time when I could be bothered to work for money, earning 19k was about 1996 !

No one should be paying tax upto 30k !

This was my precise thought too.

Mind you i was reading a Mumsnet thread where someone with 2 kids mentioned they were getting universal credit whilst earning 20k - and someone jumped on them, saying 'benefits shouldn't be there for people earning fortunes like that' 😂😂😂

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I earn an average wage and I'd happily pay more tax if it'd go towards things like the improving the NHS, social care, green infrastructure, social services etc... 

Except its not. It'd be going toward paying off debt for things like cut price meals for the middle classes, duff PPE contracts for Tory mates, PR, a failing test and trace system and supporting non-jobs that don't exist anymore. 

Exactly. This is why tax avoidance should be considered a heroic act.

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What guarantee is there that any young people paying this tax will get any social care or much healthcare when they retire - zero. If you emigrate abroad for retirement - will you get a rebate - doubt it!

Can I refuse to pay and just opt for a glass of barbituates when the time comes and I can't look after myself and don't want to be a burden on relatives/family.

Frankly its obscene young renters should have to pay more income tax so kids and grandkids can inherit multi million pound homes off people who have had their care paid for by the state. How about using your housing wealth to pay for your care - instead of taxing people who are already struggling to make ends meet and have no assets.

Edited by MARTINX9
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  • 442 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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