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Re: Sound, fair, plan
And it’s only temporary to get through this bleak period. Sadly the Tories are in power so this will never happen.. -
Re: Sound, fair, plan
Yes, 2 holes. No point giving the highest earners their money back. Secondly, raising the tax threshold for those earning under 25k won't benefit those on the lowest incomes who will struggle the most.Originally posted by William Treseder View PostComment
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Re: Sound, fair, plan
You didn’t listen properly did you Eric ?Originally posted by Eric the Half a Bee View Post
Listen to it again.Comment
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Re: Sound, fair, plan
can someone just summarise what the plan is?Comment
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Re: Sound, fair, plan
Didnt he say 0% income tax for those earning under 25k for 2 years?Originally posted by Eric the Half a Bee View PostComment
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Re: Sound, fair, plan
Well part of it is those on over £100k start paying tax on all their earnings. No threshold.
Those on £25k pay no tax as the threshold will £25k.
As if a Tory govt would go with this.Comment
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Re: Sound, fair, plan
Rees Mogg would take a blanket off all of his servants for just listening to this!Originally posted by Hilts View PostComment
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Re: Sound, fair, plan
People earning over £125k already pay tax on the full amount. They have £0 Personal AllowanceOriginally posted by Hilts View PostComment
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Re: Sound, fair, plan
Yes, by raising the income tax threshold to 25k for those earning it.Originally posted by BlueArmy 86 View PostComment
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Re: Sound, fair, plan
As they guy said, they'd have nearly all of it back (£500 would stay in the pot).Originally posted by William Treseder View PostComment
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Re: Sound, fair, plan
I didn't know that so I checked it out. You're right. Large hole blown!Originally posted by EastbourneBlue View PostComment
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Re: Sound, fair, plan
The guy got the ball rolling. So lets increase the tax level on those earning over £125k for 2 yrs.then. Why should the poorest bare the brunt of this recession yet again.Originally posted by Eric the Half a Bee View Post
Look for positives and not negatives Eric. We have a government who does that already.Comment
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Re: Sound, fair, plan
First up, lets stop pretending nothing has been done, as it's just completely false to say that
The Govt has approved a windfall tax on oil and gas producers - raising £5bn.
Secondly, every household will get £66 off each monthly bill this winter. I'll be honest here. My bill is currently £65 and I use about half that. With an increase in costs and with winter coming I may use close to £65. Knock £66 off that, and I will effectively have free energy this winter. Due to the council tax band I'm in, I also got £150 a few months back. I'm lucky, but there will be millions like me, typically in smaller accommodation such as flats.
My kids live with their mum. They will also get £66 off meaning I am certain their bills will be cheaper this winter than last. On top of that they are getting £700 for being on Universal Credit. The elderly and disabled are also getting additional money on top again. Again, lets stop spreading myths that nothing has been done. It has.
That said, I agree, more may be needed, especially for businesses who are facing extraordinary rises which will either just be passed on to consumers fuelling inflation, or lead to closures fuelling unemployment.
I think the answer has to be greater taxes on those energy producers, perhaps removing the wealthiest from the £66 reductions as well as knocking some VAT and green levies off bills for a year or so. I also think that any business loans should come with clear payback mechanisms with increased corporation tax for a set period. Loads of the breweries asking for cash have made big profits in the past - they should have saved some of that for rainy days.
Not sure increasing taxes on any business with a turnover of £100,000 or more would help, as many of those are the most vulnerable at the moment.
At the end of the day the answer is also reducing consumption, which will save us all money as well as being the right thing to do sustainably.Comment
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