anywebsite Posted February 5, 2011 Share Posted February 5, 2011 It is not progressive though. Half of average wage and people are paying 31%, the majority of women entering the workplace will now be paying 40% due to SLCs. The education system does inform people of the financial consequences of entering uni. It is in their interest to get more into debt and thus they have to pay the university debt-tax. They aren't paying 31% at all, you've forgotten about allowances again. You've also forgotten about the higher tax rate when you earn much more than average. University Fees are the price for a service, not a tax. Link to comment Share on other sites More sharing options...
chem1st Posted February 5, 2011 Author Share Posted February 5, 2011 What you means is around half of women are now entering university. I certainly did. So already 50% don't fit in with your very bogus statistic. Neither for that matter do most men. Then of course you are ignoring the millions of folk who never went to university or the millions that did but never took out a loan. So by now we are dealing with about 5% of the population who actually took out a student loan. That isn't exactly fitting in with your pathetic headline is it? But just to rub a bit more salt into your already badly wounded theory. I left university, got married, had a child. I've no intention of working. So I won't be paying back my loan. Neither will thousands of other students. Then as everyone has said all along ..it isn't a tax in the first place. ITS A LOAN.. Its like buying a TV on your credit card. You take out a loan and sometime later you repay it. ITS A LOAN. It's not a tax. Granted its a 'loan' but effectively a tax. If you do work, lets say you get a job tomorrow, perhaps minimum wage, 50 hours a week to give you an income of £15418. You will have deductions of 40% on the £418 you earned above the £15k. Your circumstances might change, you might be forced into work. Link to comment Share on other sites More sharing options...
pb1977 Posted February 5, 2011 Share Posted February 5, 2011 Yes but your making it sound like the University loan repayment is a tax, which it isn't. Its the repayment of a loan, so you can't include it in your sums. Link to comment Share on other sites More sharing options...
chem1st Posted February 5, 2011 Author Share Posted February 5, 2011 You quite clearly never bothered the higher education system if this is the best maths you can do. (On £s earned over this threshold) Are you incapable of reading that. Link to comment Share on other sites More sharing options...
chem1st Posted February 5, 2011 Author Share Posted February 5, 2011 They aren't paying 31% at all, you've forgotten about allowances again. You've also forgotten about the higher tax rate when you earn much more than average. University Fees are the price for a service, not a tax. (On £s earned over this threshold) It is in black text, you should have had no problem reading it. Link to comment Share on other sites More sharing options...
anywebsite Posted February 5, 2011 Share Posted February 5, 2011 Granted its a 'loan' but effectively a tax. If you do work, lets say you get a job tomorrow, perhaps minimum wage, 50 hours a week to give you an income of £15418. You will have deductions of 40% on the £418 you earned above the £15k. Your circumstances might change, you might be forced into work. It's a loan to cover the price of a service. The repayment terms are much better than most loans, but that still doesn't make it a tax. Link to comment Share on other sites More sharing options...
anywebsite Posted February 5, 2011 Share Posted February 5, 2011 (On £s earned over this threshold) Are you incapable of reading that. I am in the post I quoted, it doesn't say that. If you're going to keep using dodgy figures, you have to keep explaining in every post that refers to them. Are you incapable at maths? Someone earning £12-£15k pays nothing like 31% tax on their whole wage. Wikipedia will help if you need to catch up on the basics of what taxes are & how most tax systems work - http://en.wikipedia.org/wiki/Tax Link to comment Share on other sites More sharing options...
pb1977 Posted February 5, 2011 Share Posted February 5, 2011 Basically the OP is saying any £ earned over and above £15K is taxed at 40% but the OP is also including the repayment of any student loan into there sums. But what the OP fails to get a grip of is that a student loan is not a tax. Link to comment Share on other sites More sharing options...
chem1st Posted February 5, 2011 Author Share Posted February 5, 2011 Basically the OP is saying any £ earned over and above £15K is taxed at 40% but the OP is also including the repayment of any student loan into there sums. But what the OP fails to get a grip of is that a student loan is not a tax. I know it is not a 'tax', but it is effectively a tax. Link to comment Share on other sites More sharing options...
chem1st Posted February 5, 2011 Author Share Posted February 5, 2011 In that case, you must, as noted previously, include mortgage, bank loans, overdraft interest etc. /me waits for thread "75%+ tax if you earn over 15k" You can default on those things. You can go bankrupt and avoid paying them altogether. You cannot avoid the SLCs. Link to comment Share on other sites More sharing options...
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