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Post by Deleted on Nov 9, 2017 22:12:14 GMT
Same argument for higher rate income tax. Why would anyone choose to earn over the lower rate threshold just to pay 40% to the government? I've no idea why people do this. You only pay the 40% on income above the lower rate threshold, not on all of your taxable income for the tax year. I have a very simple policy with regards to income and taxation. My tax code is 1150L which means I can earn £11,500 in the tax year before I have income tax liability. So as soon as I have earned £11,500 then I stop working and fuck off on the boat instead, until my savings have run out. Because I did the same in the first tax year living on the boat when income tax was deducted, then every year now I pay zero income tax on my earnings. Pius, I get £159 a month in working tax credits because I don't earn very much. This wouldn't suit most folk, but I live a very minimalist lifestyle, my budget is £30 a week for food, £30 a week for alcohol and £40 a week for my car, which I need to get to work. I've probably spent less than £50 on clothes in the last three years, my mobile phone is a 15-year-old Nokia, my car is a 13-year-old Rover 75. To me, success in life is as about what you do and see, not what you own. When I was younger and used to travel more, my philosophy was always "I'd sooner have a stamp in my passport than a plasma screen TV" I think the most surprising thing from this post is Mr Stabby drives what is actually a very cool car that was too little too late to save Rover from those evil asset striping Bavarians. Even in diesel form they weren't a bad steer 🍻👍😀
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Post by kris on Nov 9, 2017 22:53:46 GMT
it might be the only way to keep the whole thing turning when there are no jobs anymore.
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Post by kris on Nov 9, 2017 23:02:43 GMT
One things for sure, if done in the uk it' be a half arsed fudge, done by name only to attract votes and nothing will actually change other than words. They've already done that it's called universal credit😃
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Post by patty on Nov 10, 2017 7:20:27 GMT
It does make you wonder what will happen when machines and IT replace vast numbers of the workforce...where will money come from to support those who have none? I suspect the rich with their ££££'s hidden in overseas tax havens will remain the rich. Its a crazy course the world has embarked on though I guess wars may cull over population with those surplus to requirement utilised as canon fodder....grim times ahead
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Post by Clinton Cool on Nov 10, 2017 8:26:33 GMT
So everybody in the U.K. gets say, 100 quid a week. Great! Hang on a minute though, how about the career parents who get 500 a week? For that matter, how about rich parents who would rather make more money rather than look after their kids, and currently have the government pay for the childcare? How about the pensioner who never worked or paid into a pension scheme, or made other private provisions, they get a fifty quid a week pay cut do they?
It's pretty clear that if this were introduced in Britain the payment would be in addition to existing benefits. If not, it would be very much like the poll tax, in reverse. That being the case a huge new pot of money would be needed to fund the scheme. The rich would be excluded of course, their interest lie in the likes of Bermuda etc. The poor already pay no tax so the burden would clearly fall on the shoulders of those paying income tax. The rise would need to be massive. 40p basic rate of tax anyone?
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Post by Deleted on Nov 10, 2017 8:42:06 GMT
I assumed it would be instead of rather than on top of existing state benefits.
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Post by bargemast on Nov 10, 2017 8:46:38 GMT
Don't worry too much about the extremely wealthy, they're safe, they know the ways and have the dosh to pay their expensive advisers to keep even more. They even manage to get the VAT on their PRIVATE-jet's back, mainly by getting them registered to a non-existing business on the Island of Man. If you have load and loads of money, it's dead easy to avoid (legally ) to pay taxes. www.thesun.co.uk/news/4850752/paradise-papers-who-tax-haven-leaked-documents/Peter
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Post by peterboat on Nov 10, 2017 9:03:45 GMT
So everybody in the U.K. gets say, 100 quid a week. Great! Hang on a minute though, how about the career parents who get 500 a week? For that matter, how about rich parents who would rather make more money rather than look after their kids, and currently have the government pay for the childcare? How about the pensioner who never worked or paid into a pension scheme, or made other private provisions, they get a fifty quid a week pay cut do they? It's pretty clear that if this were introduced in Britain the payment would be in addition to existing benefits. If not, it would be very much like the poll tax, in reverse. That being the case a huge new pot of money would be needed to fund the scheme. The rich would be excluded of course, their interest lie in the likes of Bermuda etc. The poor already pay no tax so the burden would clearly fall on the shoulders of those paying income tax. The rise would need to be massive. 40p basic rate of tax anyone? ^^^^^^^exactly what I said in the first place
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Post by kris on Nov 10, 2017 10:09:26 GMT
I'm not saying universal income is the answer,but with the big changes coming we are going to need new ideas on how society is organised and run. Universal income is one avenue to explore, other alternatives as patty has pointed out might be a war to cull a lot of people. Or maybe large areas of the country being shanty town / ghettos that are no go areas for anybody who has any kind of wealth. Imagine if there was a global universal income it would stop a lot of illegal immigration.if the majority of the worlds population didn't live in abject poverty in their own countries they wouldn't be so inclined to risk their lives traveling to the richer countries.
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Post by Clinton Cool on Nov 10, 2017 11:49:22 GMT
I assumed it would be instead of rather than on top of existing state benefits. Some might say that's fair. There again, so was the poll tax.
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Post by Andyberg on Nov 10, 2017 21:20:52 GMT
Just seen this and don't know much about it? . Does it mean everyone gets a basic £500 or so 'leg up' in life and if you decide to work, it goes onto your bottom line? Does it mean in theory I'd get a £500 pay rise and the feckless, lazy, scroungers would get a cut to £500 per month?
I struggle to comprehend how it would work?
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Post by lollygagger on Nov 10, 2017 21:37:20 GMT
Just seen this and don't know much about it? . Does it mean everyone gets a basic £500 or so 'leg up' in life and if you decide to work, it goes onto your bottom line? Does it mean in theory I'd get a £500 pay rise and the feckless, lazy, scroungers would get a cut to £500 per month? I struggle to comprehend how it would work? You'll pay £500 more tax.
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Post by Andyberg on Nov 10, 2017 21:45:37 GMT
Just seen this and don't know much about it? . Does it mean everyone gets a basic £500 or so 'leg up' in life and if you decide to work, it goes onto your bottom line? Does it mean in theory I'd get a £500 pay rise and the feckless, lazy, scroungers would get a cut to £500 per month? I struggle to comprehend how it would work? You'll pay £500 more tax. Fuck that...get milked to within an inch of my life as it is!🙄 Surely £500 bottom line PM for everyone is the way? If you want improve on that, go work...if not live in a tent & eat roadkill! 😉
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Post by lollygagger on Nov 11, 2017 8:06:52 GMT
You'll pay £500 more tax. Fuck that...get milked to within an inch of my life as it is!🙄 Surely £500 bottom line PM for everyone is the way? If you want improve on that, go work...if not live in a tent & eat roadkill! 😉 Where does the £500 appear from if not from your tax? You'll still get it without paying tax if you don't earn enough to pay tax. In other words nothing changes except there's a lot less paperwork so another 100,000 get the sack.
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Post by Clinton Cool on Nov 11, 2017 11:36:58 GMT
Just seen this and don't know much about it? . Does it mean everyone gets a basic £500 or so 'leg up' in life and if you decide to work, it goes onto your bottom line? Does it mean in theory I'd get a £500 pay rise and the feckless, lazy, scroungers would get a cut to £500 per month? I struggle to comprehend how it would work? You'll pay £500 more tax. More like £1000 extra tax. £500 for him then another £500 for the around 50% of the population who don't pay income tax.
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