2015 post UK election discussion

[Woolly Blue]

Not everyone lives in the north.

Well, they should do, and anyway, you're on an Everton forum so the majority of people on here probably do live in the North.

 

[roydo]

Top rate is 45% for folks earning over 150k
Even adding National Insurance to that I'm struggling to see how it gets to over 60%, unless you're adding VAT into the equation ?

If you lob in the loss of their nil rate band, and also loss (possible) of child maint you get the 60% marginal rate.

There is an article posted a few pages back, but I wouldnt waste your life mate.

 

[marty mcfly]

Yeah but by and large, we voted Labour. Most surprisingly in Hampstead which would have been hammered by the Mansion Tax. Altruism lives!

Home of the chattering classes.

 

[Groucho]

I find the idea that somebody could struggle on 80k as quite baffling.

I mean I suggest you have no idea what the word struggle means, 2k a month mortgage? They could always move.

Struggling means getting to the middle of the month and wondering how your gonna feed the family, not struggling to pay the mortgage on a 2m mansion.

Correct.

This is why the "we're all in this together" is laughable.

 

[Woolly Blue]

Not everyone lives in the north.

True, my sister lives in Sussex. Between her and her husband they probably gross about 85k. They have kids, one at uni, live in a four bed detached house, have dog eared passports from the number of times they go abroad in a year and show absolutely no signs of struggling. Granted, if they lived nearer London, their money wouldn't go so far, but you could say the same about people grossing 15 to 20k a year.

 

[Billy Dean]

Do YOU pay 60% tax?
Why is it only fair if it's only levied on someone earning someone more than you, then?
When you get to keep less of what you make than what is taken from you, is your life still yours? They have a word for that - slavery.

> I don't want to live in a world where the chasm between poor and rich continues to grow. No society can be built on these foundations. There needs to be a fairer, more equal alternative. You cannot possibly think a system which relies on good banks to feed children is the best on offer?

Inequality is natural. This may sound hard to believe, but I do want the people at the bottom to improve their lives in absolute terms as much as their talent and hard work allows them. I am not concerned with the perceived amount of inequality - am I better off if I have 1 cow and my neighbour has 10 cow, or am I better off if I have 2 cows and my neighbour has 500 cows? Obviously I am better off with 2 cows.

Now, having said that, I do agree that our system disproportionally over rewards those at the very top, but that is a consequence of things like bank bailouts, rescue schemes and other what we call "moral hazards" - ie intervention that does not lett the the market run its natural course. But I believe that, rather than redistribution which only serves to band-aid over the probem, it would be better to change the system - make sure that the same rules are applied at both the very top and the very bottom of society. In such a society, what I call a "free society", inequality will be what it will be.

Milton, is that you?

 

[The Esk]

700k would get you a 2 bed flat in a decent area. 4 bed detatched house & you're looking at about 1.4 million. The kind of gaff that @the esk opens to the public once a year.

Prime South Ken/Chelsea/Kensington sells at around £2500 a square foot.

 

[roydo]

Prime South Ken/Chelsea/Kensington sells at around £2500 a square foot.

For a STEAK!! The world has gone bonkers, it really has.

 

[Pat's Van]

Look at the figures I gave. Someone on 80k pays 30k in income tax.

more like 21k tax on a standard tax code for this year anyway

 

[chrissyjack]

I wouldn't mind trying to live on 80k a year

 

[Reidy's Bottle Of Grecian]

Cameron is set to announce this week that he is ditching his 'Big Society' idea as Britain hasn't really taken to it and instead is to introduce The Caste System that has served India so well over the centuries.

 

[Reidy's Bottle Of Grecian]

I wouldn't mind trying to live on 80k a year

wouldn't mind living on it for 3 to 4 years.

 

[Woolly Blue]

Also rather than a Mansion Tax, how about VAT on property sales over £1mill. Any thoughts?

You can't really slap a 20% tax on property sales like that mate. The current tax on a property sale of a million is about 4.5%. If you made it 20% you're likely to skew the market so much that you'd bring house sales at that level to pretty much a grinding halt, which would filter down the property ladder. You'd have to change the system much more gradually not to break it.

 

[Jags]

VAT is a disgrace, it really is. Not even a flat tax, it is the most regressive tax that there is, and if I had any power, I'd see it drop to 10%, highest. I'd make up the difference by fiddling the income tax boundaries so as to see the burden fall on the shoulders of the wealthy.

 

[blue4eva77]

It's going down in the capital. Getting messy on the streets.