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Author Topic: Top 5%  (Read 10152 times)

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Andy B

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Top 5%
« on: 22 November 2019, 13:48:07 »

If anyone was watching question time last night ..... https://www.bbc.co.uk/news/50517136

Not sure what he must do for a living in Bolton if he's earning more than 80k ...  ???
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henryd

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Re: Top 5%
« Reply #1 on: 22 November 2019, 15:38:48 »

If anyone was watching question time last night ..... https://www.bbc.co.uk/news/50517136

Not sure what he must do for a living in Bolton if he's earning more than 80k ...  ???

Thieving :D :D ;D
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Doctor Gollum

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Re: Top 5%
« Reply #2 on: 22 November 2019, 16:09:58 »

If anyone was watching question time last night ..... https://www.bbc.co.uk/news/50517136

Not sure what he must do for a living in Bolton if he's earning more than 80k ...  ???

Thieving :D :D ;D
Nah, he'd be on benefits with zero declared income if that were the case  ;)
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STEMO

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Re: Top 5%
« Reply #3 on: 22 November 2019, 16:24:00 »

If anyone was watching question time last night ..... https://www.bbc.co.uk/news/50517136

Not sure what he must do for a living in Bolton if he's earning more than 80k ...  ???
Headteacher, senior hospital manager, company director, etc, etc.
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Migv6 le Frog Fan

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Re: Top 5%
« Reply #4 on: 22 November 2019, 16:30:30 »

Its ok saying it wont hurt those on decent salaries to pay a bit more in tax, but imo they are already taxed highly without having to hand over even more, so politicians can waste it. Its old fashioned Labour politics of envy. The curse of this country for decades in the past.
To me, if someone works hard and does well for themselves, good luck to them. If I had turned up at school and paid attention to what was being taught, maybe I would have done well for myself too.
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tunnie

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Re: Top 5%
« Reply #5 on: 22 November 2019, 16:40:46 »

What bugs me is you could have a mum earning 40k and a Dad Earning 40k for a family bringing in 80k combined and that's fine.  ???

Yet have Dad earning 80k and Mum being full time mummy and not working, this is not ok and "punish the rich"  >:(
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STEMO

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Re: Top 5%
« Reply #6 on: 22 November 2019, 16:42:48 »

A lot of the top 5% of earners will be in the public sector. Crusty Corbyn has said that every public sector worker will get a 5% pay rise. Will the pay rise cover the tax increase or is he talking bollix as usual?

John McDonnell has said that his back of a fag packet figures are correct and the IFS knows f**k all.  ;D
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STEMO

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Re: Top 5%
« Reply #7 on: 22 November 2019, 16:44:32 »

What bugs me is you could have a mum earning 40k and a Dad Earning 40k for a family bringing in 80k combined and that's fine.  ???

Yet have Dad earning 80k and Mum being full time mummy and not working, this is not ok and "punish the rich"  >:(
That's how we lost our child benefit in 2015. One earner over 50K, no CB. Two earners with 45K each can have it.
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Migv6 le Frog Fan

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Re: Top 5%
« Reply #8 on: 22 November 2019, 16:46:11 »

I believe that all benefits should be means tested, but testing them in that way is ludicrous.
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STEMO

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Re: Top 5%
« Reply #9 on: 22 November 2019, 16:50:04 »

I believe that all benefits should be means tested, but testing them in that way is ludicrous.
Agreed. I always said we shouldn't get CB, but that way was just unfair.

As an aside: We got a letter saying we could either give up the CB or pay the equivalent in income tax. We gave it up. A teacher at wifey's school just ignored the letter, and has just received a tax demand for 5,000.
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Re: Top 5%
« Reply #10 on: 22 November 2019, 16:52:55 »

The solution to that is to set up the household as a business. This gives the earner an element of self employment which requires a tax return. You then pay the stay at home parent an employee of the business and write off the cost of this against your tax return. Net result is you you should only be taxed against your net earnings rather than the gross. The premise being that you, as a family unit, are in business to provide for and maintain your household and children.

Stay at home parents aren't unemployed, it's just that they are not paid for the job they do. The government would do well to recognise this point.
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Doctor Gollum

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Re: Top 5%
« Reply #11 on: 22 November 2019, 16:59:22 »

In the States, everyone has to file a tax return regardless of whether they pay income tax directly from their wages.

Tax returns can be filed as household returns, Married Couple Filing Jointly iirc, which effectively halves the individual earnings/doubles allowances as it divides the household income between the couple.

I don't suppose that such a common sense approach exists here... ::)
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STEMO

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Re: Top 5%
« Reply #12 on: 22 November 2019, 17:06:05 »

I believe that all benefits should be means tested, but testing them in that way is ludicrous.
Agreed. I always said we shouldn't get CB, but that way was just unfair.

As an aside: We got a letter saying we could either give up the CB or pay the equivalent in income tax. We gave it up. A teacher at wifey's school just ignored the letter, and has just received a tax demand for 5,000.
I'm wondering when we might get a similar letter with regards to the state pension.
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STEMO

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Re: Top 5%
« Reply #13 on: 22 November 2019, 17:07:06 »

In the States, everyone has to file a tax return regardless of whether they pay income tax directly from their wages.

Tax returns can be filed as household returns, Married Couple Filing Jointly iirc, which effectively halves the individual earnings/doubles allowances as it divides the household income between the couple.

I don't suppose that such a common sense approach exists here... ::)
That is a very fair and progressive policy, but it will never happen here.
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Field Marshal Dr. Opti

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Re: Top 5%
« Reply #14 on: 22 November 2019, 17:11:56 »

I hate the f*ucking taxman. He makes me pay tax on money I don't earn. I have spoken with them about this but they are far from friendly.....aggressive even. :-\

Big companies pay very little in tax. Amazon being an example who is above the law.

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