- Location
- Lincolnshire
Such a well developed country that we now go cap in hand to a Communist regime to supply our power?
Such a well developed country that we now go cap in hand to a Communist regime to supply our power?
Such a well developed country that we now go cap in hand to a Communist regime to supply our power?
Yes, kind of - that is now 10K, I think. Nobody is expecting you to live on 10K though but it is seen as a contribution towards basic living costs. It would still be unfair to tax people on 15K the same rate on their 5K as it would those on 50K on their 40K - a flat rate of tax would only be 'fair' if everybody got paid a living wage and got that ammount tax free.
but no one would ever agree on what amount a living wage should be.......i'd say home +essentials
but many seem to think a massive tv, sky and every electric gizmo under the sun is "essential".
I simply can't see how it is right that just cause you earn more than a set level (which I don't get anywhere near ) you should pay 40%....40%!!! of your wages/income in tax, its mental!, hell its bad enough paying 30% (incl NI...which also added to the 40% is even more depressing)
I'm as wary of the French as the next man, however - I think "Communist Regime" is a bit strong...
You don't - you pay 40% of your income over a certain threshold. You are still not taxed on your first 10K etc.
that's what I meant!
no tax 10k<
20% +NI on the next 10k-35k (??)
then 40% +NI on everything 35k+
then doesn't it go up to 50% +NI at something like 150K
Then why do farmers sell land for farming? Plenty do.
The revenue from those currently earning more than 50 k is not actually that great as a proportion of tax receipts, which is why governments don't bother raising taxes on high earners. When I worked for GEC, no productive employ was paid anything like 50k, that is workers, engineers, project managers, salesmen and other folk who actually did the work and got the orders in and delivered the goods Those in the layers above, who really served no useful purpose as far as the business was concerned were paid a lot more and if they had left the country, GEC might still have been a big manufacturer and employer today.
I just don't get this money grabbing attitude. It is what one can do for others that really brings satisfaction, not what can amass in excess for oneself.
Working hard. Different things to different people.
Hauling coal out a mine. £25,000
Spouting tripe on the radio. £100,000
Kicking a bag of wind round a field. £1,000,000
All highly subjective ain't it?
So; in reality you are paying far less than your imagined 40% gross.
I've never seen a person earning over the threshold who who has genuine want - however, I have seen plenty in the lower tax brackets who are, so it doesn't concern me that much, I'm more concerned at those going without the basics.
fag packet maths on a 50k wage
10k at zero
25k at 20% = 5k
15k at 40% = 6k
NI on 40k at 11% = 4.4k
(apologies if any of the above is wrong, maths isn't my strong point)
total 15.4k = 31% of wages paid in tax, so yes abit less than 40% headline figure....but still a lot of money!
mind a 50k wage is a lot of money and yes agree we should be more concerned about people going with out the basics at the lower end, which I guess is where a living wage of sorts comes in.
but what figure a living wage?
Of course taxation is a moral issue: both the payment AND the spending of that taxation are governed by morals.
It's the Chinese who pull the strings now and call the tune. The French are as bust as we are.
Of course taxation is a moral issue: both the payment AND the spending of that taxation are governed by morals.
This country is massively reliant on taxes paid by the likes of those Premiership prima donnas. The Premier League wage bill is £1.6bn/year, of which at least 40%,probably close to 45%, ends up with HM Treasury. Thats around £650m just from perhaps 500 people. Thats £1.3m in tax EACH. You should be on your knees thanking Rupert Murdoch for financing the PL via his Sky channel. It would take 130000 taxpayers earning £25k each to raise that £650m of tax revenue.
Gower, I think that most premier league players get their money payed into a company so they only pay 20%. I wonder where the foreign players money goes.
People keep mentioning 40% higher tax rate, surely this is 45% having come down from 50%.
In my opinion we are taxed too much, people can spend their own money more wisely than the government. They should lower direct taxes to encourage people into work and to work harder and look after themselves and their families. But of course the socialists like to take most of your money and then give it back to folk who do as they are told. I include Call me Dave in this because he isn't a proper Tory.