Jump to content

40%+ tax if you earn over £15k - The reality of modern Britain.


Recommended Posts

People on £15k pay 40% tax. (On £s earned over this threshold)

 

This is the reality of modern Britain.

 

This is not a fair and just society. It is a disgrace of a nation.

 

NI @ 11%, rising soon to 12%

Tax @ 20%

Student loans (for the majority of British born people entering the workforce) @ 9%

 

Many are paying 40% tax this will soon rise to 41%

 

These people are earning about half the average wage.

 

 

How unfair do you think this is?

Link to comment
Share on other sites

The problem is that as a country we have been through periods of incredible wealth and prosperity and when we did the government of the time spent lots of money on things that weren't vital but good to have. Then, when things aren't so good the non vital things have now become vital so even though theres less money sloshing around people still want the non essentials. Protesting that its unfair to take it away. Which - generally - it is.

 

Also in administering these things the government needs to employ people to distribute them. Which costs money, so getting rid of the non essentials poses two problems for a government.

 

1. Its unfair to stop giving it.

2. Getting rid will probably mean lots of people being out of work.

 

Therefore the problem become compounded. People want the stuff the govt gave them but they have to pay for it. The cycle spins faster and faster until it breaks.

 

All of this in a roundabout way is to blame previous governments for high taxes. The beaurocracy has to feed itself. Taxes have to be high to sustain the level of government we have distributing the benefits we do. The problem is nobody is willing to stand up and say its out of control and needs to be stopped and radically changed.

 

I'm thinking of 3 main areas. Welfare, tax (and tax credits) and the NHS

Link to comment
Share on other sites

People on £15k pay 40% tax. (On £s earned over this threshold)

 

This is the reality of modern Britain.

 

This is not a fair and just society. It is a disgrace of a nation.

 

NI @ 11%, rising soon to 12%

Tax @ 20%

Student loans (for the majority of British born people entering the workforce) @ 9%

 

Many are paying 40% tax this will soon rise to 41%

 

These people are earning about half the average wage.

 

 

How unfair do you think this is?

 

 

Well, I might think it unfair if the figures above justified the '40%+ tax on £15k' statement in the title, but they do not. Anyone reading your statement would think that those on £15k were being put in the 40% tax band, which of course is incorrect. Repayment on a student loan is not a 'tax', per se. National Insurance is of course a tax, but anyone on £15k won't be paying 20% tax on the full amount of his or her earnings.

Link to comment
Share on other sites

Well, I might think it unfair if the figures above justified the '40%+ tax on £15k' statement in the title, but they do not. Anyone reading your statement would think that those on £15k were being put in the 40% tax band, which of course is incorrect. Repayment on a student loan is not a 'tax', per se. National Insurance is of course a tax, but anyone on £15k won't be paying 20% tax on the full amount of his or her earnings.

 

The majority of our nations children now go to university and sign themselves up for the +9% tax rate.

 

It is effectively a tax.

 

The tax thresholds thus lead to £15k being the threshold for 40% tax, for the majority of this nations youth.

 

If your not amongst the youth being ripped off, perhaps you have children whom will be. Or maybe you cannot afford to raise your own children to be taxed at this rate in the first place.

Link to comment
Share on other sites

The majority of our nations children now go to university and sign themselves up for the +9% tax rate.

 

It is effectively a tax.

 

The tax thresholds thus lead to £15k being the threshold for 40% tax, for the majority of this nations youth.

 

If your not amongst the youth being ripped off, perhaps you have children whom will be. Or maybe you cannot afford to raise your own children to be taxed at this rate in the first place.

However the lower limit on university repayments is to be raised to £21000 isn't it?
Link to comment
Share on other sites

The majority of our nations children now go to university and sign themselves up for the +9% tax rate.

 

It is effectively a tax.

 

 

But the 9% constitutes part-payment of the loan. You might just as well refer to mortgage repayments as 'taxes' on this basis.

Link to comment
Share on other sites

But that £21k in 2012 money will only be worth about £15k in in 2009 money.
Hang on. Its 2011 so where does 2009 come into it?

 

You can't say that in 2012 something will only be worth what it was in 2009, you can't possibly know that, you're just estimating and as Lord C points out repayment of university loans is not actually a tax. Saying its effectively a tax doesn't make it be one. You may as well argue that the price of food is a tax because everyone has to pay for it.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.