llamatron Posted October 4, 2010 Share Posted October 4, 2010 Depends where their spending-priorities lie, doesn't it? All my money goes on bills, and my son. Are you telling me that someone who earns 40k but is living the same lifestyle as me, for example, has the same disposable income as me? I think not... and if not, then I ask the question 'where is their non-disposable income going?' yup, if its a mortgage I would suggest that they probably need to move to a cheaper house. If its holidays then maybe they need to go somewhere cheaper. They chose to have the kids! I dont know why anyone would be for people who are actually on a low wage paying benefits to people on a good and sometimes high wage. It makes less than no sense! Link to comment Share on other sites More sharing options...
natjack Posted October 4, 2010 Share Posted October 4, 2010 PAYE tax rates, thresholds and codes Figures to use 2010-11 PAYE tax threshold £6,475 per year Basic tax rate 20% on annual earnings above the PAYE tax threshold and up to £37,400 Higher tax rate 40% on annual earnings from £37,401 to £150,000 Additional tax rate 50% on annual earnings above £150,000 Im not that good at working out ... what's the difference between what someone earning £37400 and someone earning £37401 takes home after tax? And then going to lose the benefit for their kids. Although I thought they said higher 40% rate kicked in at £45,000? Link to comment Share on other sites More sharing options...
Berberis Posted October 4, 2010 Share Posted October 4, 2010 PAYE tax rates, thresholds and codes Figures to use 2010-11 PAYE tax threshold £6,475 per year Basic tax rate 20% on annual earnings above the PAYE tax threshold and up to £37,400 Higher tax rate 40% on annual earnings from £37,401 to £150,000 Additional tax rate 50% on annual earnings above £150,000 Im not that good at working out ... what's the difference between what someone earning £37400 and someone earning £37401 takes home after tax? And then going to lose the benefit for their kids. Although I thought they said higher 40% rate kicked in at £45,000? The person earning £37401 will pay 40% tax on the £1 over the basic rate. Link to comment Share on other sites More sharing options...
natjack Posted October 4, 2010 Share Posted October 4, 2010 The person earning £37401 will pay 40% tax on the £1 over the basic rate.You don't say! I'm not that thick, honest! I'd just like to see the actual difference between the take home figures, where's that taxman when you need him! And doesn't the NI contribution get higher as well, the more you earn? Link to comment Share on other sites More sharing options...
evildrneil Posted October 4, 2010 Share Posted October 4, 2010 I think one of the problems with this is that Britain has an aging population, where more people will be needed to support those who are frail, elderly and in need of pensions, care etc. So the birth rate needs to rise to meet this demand. Ther's not a lot of point raising there birth rate to suport the elderly if there are no jobs for the newly spawned. If you simply work on raising the birthrate then you get more people on benefits and a larger drain on the countries purse. Raising the creativity, self reliance and entrepreneurship of the country would arguably go a lot further than simply raising the birthrate. Link to comment Share on other sites More sharing options...
Conrod Posted October 4, 2010 Share Posted October 4, 2010 And doesn't the NI contribution get higher as well, the more you earn?No, there's a ceiling on the 11% band (raised above inflation levels by Brown of course) then a 1% band which roughly equates to higher tax band. Link to comment Share on other sites More sharing options...
chem1st Posted October 4, 2010 Share Posted October 4, 2010 You don't say! I'm not that thick, honest! I'd just like to see the actual difference between the take home figures, where's that taxman when you need him! And doesn't the NI contribution get higher as well, the more you earn? About 60p..... Link to comment Share on other sites More sharing options...
natjack Posted October 4, 2010 Share Posted October 4, 2010 About 60p.....Is it? Thanks matey. I knew I must be going wrong somewhere, as the way I worked it out, just on the threshold, the 'poor' people were actually coming out with £6k pa more than the 'rich' ones. Glad to find out I had me decimal point in the wrong place. Good job I don't work with money, int it? Link to comment Share on other sites More sharing options...
convert Posted October 4, 2010 Share Posted October 4, 2010 I think one of the problems with this is that Britain has an aging population, where more people will be needed to support those who are frail, elderly and in need of pensions, care etc. So the birth rate needs to rise to meet this demand. All very good, but when the children are born into a family where benefits have been the norm for generations, how will this have a postive effect on tax revenues as opposed to benefit payments? Link to comment Share on other sites More sharing options...
chem1st Posted October 4, 2010 Share Posted October 4, 2010 Is it? Thanks matey. I knew I must be going wrong somewhere, as the way I worked it out, just on the threshold, the 'poor' people were actually coming out with £6k pa more than the 'rich' ones. Glad to find out I had me decimal point in the wrong place. Good job I don't work with money, int it? Not for the 'poor' people Easy mistake anyhow, just be careful with the apostrophes I hear they get a week ban now Link to comment Share on other sites More sharing options...
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