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 robdave2k  10 Jun 19 9.40am |
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Originally posted by the.universal
Why anyone thinks tax cuts for the rich is a good idea is beyond me. What he has said is he would lift it (the threshold) from £50k to £80k Will at least repair some of the damage that clown Hammond has done to the self employed. Earning £80k a year doesn’t make you rich. It makes you well off, but not rich.
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 Bexley Eagle Bexley Kent 10 Jun 19 9.43am |
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Originally posted by dollardays
Once you pop, you can't stop! Gove simply cannot stop talking about doing Cocaine. The latest - Michael Gove admits he was lucky to avoid jail over cocaine use - [Link] These days is anyone even in the least bit surprised about politicians doing drugs at one time or other? So is this just a misjudged endless OTT apology, or is he trying to paint himself as some kind of edgy and unpredictable figure? Are we seeing the emergence of Dangerous Gove!? Trouble is everyone knows Gove is an odious little man. Now we all know he is an odious little man with his snout in the trough.
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| Bexley Eagle Bexley Kent 10 Jun 19 9.45am |
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Originally posted by Midlands Eagle
Boris has just pledged to cut income tax for everyone earning over £50,000 pa so he's got my vote Always like Boris.
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| topcat Holmesdale / Surbiton 10 Jun 19 10.08am |
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Originally posted by dollardays
Once you pop, you can't stop! Gove simply cannot stop talking about doing Cocaine. The latest - Michael Gove admits he was lucky to avoid jail over cocaine use - [Link] These days is anyone even in the least bit surprised about politicians doing drugs at one time or other? So is this just a misjudged endless OTT apology, or is he trying to paint himself as some kind of edgy and unpredictable figure? Are we seeing the emergence of Dangerous Gove!? I don't think many people care if people take illegal drugs, it's just the hypocrisy that goes with it. What they are saying is that it is fine for them to take illegal drugs but not for anyone else.
It's 106 miles to Chicago, we got a full tank of gas, half a pack of cigarettes, it's dark... and we're wearing sunglasses. |
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| the.universal 10 Jun 19 10.09am |
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Originally posted by robdave2k
What he has said is he would lift it (the threshold) from £50k to £80k Will at least repair some of the damage that clown Hammond has done to the self employed. Earning £80k a year doesn’t make you rich. It makes you well off, but not rich. Ok then, why anyone thinks tax cuts for the well off is a good idea is beyond me.
Vive le Roy! |
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| DanH SW2 10 Jun 19 10.32am |
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Originally posted by Midlands Eagle
Boris has just pledged to cut income tax for everyone earning over £50,000 pa so he's got my vote This would put a considerable amount extra in my pocket every month but I still think it's a stupid idea.
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| ChrisGC Wantage 10 Jun 19 10.36am |
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Originally posted by DanH
This would put a considerable amount extra in my pocket every month but I still think it's a stupid idea. Yeah, ok. Next scene Turkeys vote for crimbo. Edited by ChrisGC (10 Jun 2019 10.36am)
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| robdave2k 10 Jun 19 10.42am |
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Originally posted by the.universal
Ok then, why anyone thinks tax cuts for the well off is a good idea is beyond me. Ok to put into context. You are self employed - one man band earning £40 - 50k. You take on 2 workers to help grow. Now you have to act as an unpaid tax collector for HMRC, have increased compliance costs and any additional profit you do make will be taxed at a higher rate between 42 - 51.5% depending on how you are setup. You also get no benefits and have to fund their pension as well as your own You add in then the additional costs of Making Tax Digital that has happened and all the additional changes that could happen as a result of Brexit. I'm not advocating cuts for fat cat board members, but you have to make the country aspirational. Lifting it to £80k will help - and you need an engine room of small business to do that. For someone on £500k a year it won't make a difference and I'm not advocating that, but it will make a massive difference to those on mid range incomes - who seem to get shafted by every government.
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| DanH SW2 10 Jun 19 10.44am |
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Originally posted by ChrisGC
Yeah, ok. Next scene Turkeys vote for crimbo. Edited by ChrisGC (10 Jun 2019 10.36am) Most the extra would go into a savings account/overpayments on my mortgage. If you're going to make tax cuts like that to boost spending you're better off putting it into the hands of people who will actually spend it. It's basic economics.
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| DanH SW2 10 Jun 19 10.45am |
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Originally posted by robdave2k
Ok to put into context. You are self employed - one man band earning £40 - 50k. You take on 2 workers to help grow. Now you have to act as an unpaid tax collector for HMRC, have increased compliance costs and any additional profit you do make will be taxed at a higher rate between 42 - 51.5% depending on how you are setup. You also get no benefits and have to fund their pension as well as your own You add in then the additional costs of Making Tax Digital that has happened and all the additional changes that could happen as a result of Brexit. I'm not advocating cuts for fat cat board members, but you have to make the country aspirational. Lifting it to £80k will help - and you need an engine room of small business to do that. For someone on £500k a year it won't make a difference and I'm not advocating that, but it will make a massive difference to those on mid range incomes - who seem to get shafted by every government. I agree with this though. The self-employed/small business owners do need more help.
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| the.universal 10 Jun 19 11.01am |
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Originally posted by robdave2k
Ok to put into context. You are self employed - one man band earning £40 - 50k. You take on 2 workers to help grow. Now you have to act as an unpaid tax collector for HMRC, have increased compliance costs and any additional profit you do make will be taxed at a higher rate between 42 - 51.5% depending on how you are setup. You also get no benefits and have to fund their pension as well as your own You add in then the additional costs of Making Tax Digital that has happened and all the additional changes that could happen as a result of Brexit. I'm not advocating cuts for fat cat board members, but you have to make the country aspirational. Lifting it to £80k will help - and you need an engine room of small business to do that. For someone on £500k a year it won't make a difference and I'm not advocating that, but it will make a massive difference to those on mid range incomes - who seem to get shafted by every government. I think this is a fair enough example. I agree more could be done to incentivise entrepreneurialism. However most affected by this change will not fall into that bracket. Most will be working for someone else and most of the others will be rich pensioners. Something more targeted (and a hell of a lot cheaper) to stimulate growth seems like a good idea. Tax cuts disproportionately benefitting the well off, not so much.
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| Bexley Eagle Bexley Kent 10 Jun 19 11.56am |
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Originally posted by robdave2k
Ok to put into context. You are self employed - one man band earning £40 - 50k. You take on 2 workers to help grow. Now you have to act as an unpaid tax collector for HMRC, have increased compliance costs and any additional profit you do make will be taxed at a higher rate between 42 - 51.5% depending on how you are setup. You also get no benefits and have to fund their pension as well as your own You add in then the additional costs of Making Tax Digital that has happened and all the additional changes that could happen as a result of Brexit. I'm not advocating cuts for fat cat board members, but you have to make the country aspirational. Lifting it to £80k will help - and you need an engine room of small business to do that. For someone on £500k a year it won't make a difference and I'm not advocating that, but it will make a massive difference to those on mid range incomes - who seem to get shafted by every government. A good post Sir.
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