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Grumpy Git

Grumpy Git

Posted
Posted
14 minutes ago, Half Fan Half Biscuit said:

Well that will be less than £1k per week after tax, ni and pension. Still not bad, but it’s the people running their own businesses through limited companies that will pay the greatest extra proportion - eg around £130 a month extra on  just £22k - so Labour’s claim that it’s just the top 5% who will pay more tax is rubbish. 

Please explain where the extra £130 a month tax is calculated on a gross of £22K, (genuine question)?

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AdamRam

AdamRam

Posted
Posted
5 minutes ago, Van Gritters said:

You could have one person earning £85k per year paying approx £26k in tax but a couple whose combined income = £85k potentially pay £12k in tax.

Welcome to my world but labour would have you believe I’m wealthy.

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Gritstone Ram

Gritstone Ram

Posted
Posted
11 minutes ago, Grumpy Git said:

Please explain where the extra £130 a month tax is calculated on a gross of £22K, (genuine question)?

I think it could be something to do with paying a dividend out of the profit rather than paying 20% tax I think the tax on the dividend would be around 7.5%. There may be others that know far more than me though.

so you could earn £12500 tax free in wages Then the other £10000 as a dividend and only pay 7.5% tax on that. I’m only guessing though.

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Grumpy Git

Grumpy Git

Posted
Posted
8 minutes ago, AdamRam said:

Yup

Fair enough and good for you.

Do you have any empathy for people earning the minimum wage bearing the biggest burden of the tax take as a proportion of their earnings? Remember it was George Osborne who hiked VAT up by 2.5% to 20% to pay for "austerity". I think that hurts someone on £320/week a lot more than someone on £1,500/week, afterall a pint costs the same no matter how rich you are.

I'm also old enough to remember Margaret Thatcher's government hike VAT from 8% to 15%. That was a nice one for the working man to take on the chin.

The Tories also increased it again from 15% to 17.5% to pay for the disaster that was the Poll Tax. People have very short memories.

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Gritstone Ram

Gritstone Ram

Posted
Posted
4 minutes ago, Grumpy Git said:

Fair enough and good for you.

Do you have any empathy for people earning the minimum wage bearing the biggest burden of the tax take as a proportion of their earnings? Remember it was George Osborne who hiked VAT up by 2.5% to pay for "austerity". I think that hurts someone on £320/week a lot more than someone on £1,500/week, afterall a pint costs the same no matter how rich you are.

It is a luxury item and it would only be fair to charge the same to everyone.

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AdamRam

AdamRam

Posted
Posted
5 minutes ago, Grumpy Git said:

Fair enough and good for you.

Do you have any empathy for people earning the minimum wage bearing the biggest burden of the tax take as a proportion of their earnings? Remember it was George Osborne who hiked VAT up by 2.5% to pay for "austerity". I think that hurts someone on £320/week a lot more than someone on £1,500/week, afterall a pint costs the same no matter how rich you are.

I'm also old enough to remember Margaret Thatcher's government hike VAT from 8% to 15%. That was a nice one for the working man to take on the chin.

The Tories also increased it again from 15% to 17.5% to pay for the disaster that was the Poll Tax. People have very short memories.

I have empathy for anyone that struggles in any financial way. I’m already getting taxed at 40%, so that pint is actually costing more if you take the gross amount.
 

What about the people that are in the bands below but don’t fall into the lower reaches, why shouldn’t they also pay extra taxes, why should it fall solely upon only 5% of the country ?

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GboroRam

GboroRam

Posted
Posted
22 minutes ago, AdamRam said:

Welcome to my world but labour would have you believe I’m wealthy.

But you think it's fair to tax people more with lower incomes, but think you're not wealthy? 

Or are you arguing that this country isn't wealthy enough to afford a better health system?

Out of interest, how would a fiver a week extra income tax affect your daily life? 

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Gritstone Ram

Gritstone Ram

Posted
Posted
16 minutes ago, Grumpy Git said:

Fair enough and good for you.

Do you have any empathy for people earning the minimum wage bearing the biggest burden of the tax take as a proportion of their earnings? Remember it was George Osborne who hiked VAT up by 2.5% to 20% to pay for "austerity". I think that hurts someone on £320/week a lot more than someone on £1,500/week, afterall a pint costs the same no matter how rich you are.

I'm also old enough to remember Margaret Thatcher's government hike VAT from 8% to 15%. That was a nice one for the working man to take on the chin.

The Tories also increased it again from 15% to 17.5% to pay for the disaster that was the Poll Tax. People have very short memories.

What are the VAT rates in similar European countries like France and Germany?

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Grumpy Git

Grumpy Git

Posted
Posted
7 minutes ago, Van Gritters said:

It is a luxury item and it would only be fair to charge the same to everyone.

Yes but its cost increasing due to VAT is much more unfair to someone on the minimum wage as a percentage of their income.

We all have to pay tax. If someone has a successful business and earns a shed-load, fair enough, but they have to rely on the state to educate these workers and mend them when they get ill, but they complain about paying tax. Amazon ought to be charged when one of their workers has to go to the doctors.

The more tax I pay the more I'm earning. If I pay 40% tax, its only an the amount above £50K. How much money do millionaires want?

When Gerorge Osbourne reversed Gordon Browns higher rate from 50% to 45% for income over £150K, our Wayne (who was on megabucks at Utd at the time) saw and EXTRA £14,500 a WEEK in his pocket, HTF can you justify that, because it has to come from somewhere else if he isn't paying it anymore.?

I know people will argue that that 5% tax cut resulted in more income for the Exchequer, but again that just shows that people are greedy and hide their wealth.

Man is the only animal that is still hungry when he has a full belly.

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AdamRam

AdamRam

Posted
Posted
6 minutes ago, GboroRam said:

But you think it's fair to tax people more with lower incomes, but think you're not wealthy? 

Or are you arguing that this country isn't wealthy enough to afford a better health system?

Out of interest, how would a fiver a week extra income tax affect your daily life? 

Where have I said tax people more with lower incomes ? Unless you have missed it, anyone in the top 5% is already being taxed a lot more. I’d be quite happy with an austerity tax, increase it by 1% for everyone, by nature the higher earners are paying more - would you be ?

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alexxxxx

alexxxxx

Posted
Posted
1 hour ago, Angry Ram said:

Would still depend on his circumstances. In theory 80k in Manchester sounds good but.......

Well then what about the vast majority of households that earn quite considerably lower than that? They surely must have similar circumstances.

And everyone who barks on about 40% tax rates seem to keep quiet that their NI contributions drop after 50k.

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Grumpy Git

Grumpy Git

Posted
Posted
2 minutes ago, AdamRam said:

Where have I said tax people more with lower incomes ? Unless you have missed it, anyone in the top 5% is already being taxed a lot more. I’d be quite happy with an austerity tax, increase it by 1% for everyone, by nature the higher earners are paying more - would you be ?

OMG, tax EVERYONE 1% more! That would be funny if it wasn't so tragic.

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AdamRam

AdamRam

Posted
Posted
1 minute ago, Grumpy Git said:

Whaaaaat? Are you having a laugh?

Now I think I'm starting to understand why some non millionaires vote Tory, I'm flabbergasted.

Why, you can’t apply a different VAT rate based upon what you earn, therefore you apply it at source. Unless you are labour of course, then you just give free stuff away to buy votes and tax the rich to pay for it ?

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Angry Ram

Angry Ram

Posted
Posted
14 minutes ago, alexxxxx said:

Well then what about the vast majority of households that earn quite considerably lower than that? They surely must have similar circumstances.

Dunno, you tell me exactly what his situation is.. Child care, looking after an elderly relative financially.. 

I will check back but was in not just a glib comment with no back up? I maybe wrong and there was context and if so, no problem, I was wrong. All I am saying, is don’t shoot the fella without knowing what that 80k goes on. Unless of course you do know and can enlighten the great unwashed left of the situation.. 

Edit...

Just checked.. Sadly he was just some sad plonker.. Now I just wonder who the ‘plonker’ is.. Maybe the geezer who posted it. 

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