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Old 19th January 2022, 14:17   #91
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Originally Posted by edwardmk View Post
Generally agree, but please define 'high earner' and what your proposals would be on higher taxes for those high earners?
I was hoping that someone would ask, so thank you Martin.

High earner = anyone earning over £75k PA

My proposed tax regime:

A new tax rate of 50% at £50k PA.

A sliding scale of increasing tax between £50k PA and £100k PA thresholds such that above £100k, the tax rate is 100%.

Also, a wealth tax of 100% over £1m including main residence and all other assets.

This will have many positive side effects including curbing the ridiculously high property prices and generally help to achieve a fairer society.

Oh, I forgot to mention. Summary execution for those found to employ tax avoidance schemes or in any way evading tax. Similar benefits to be applied to those able but unwilling to work.

To complement the above:

Minimum wage for working people to be increased to £25k PA. Benefits to non-working people to be at a flat rate of £15k PA. All non-working people to be housed in low-cost housing in appropriate parts of the country.

The above would be just a small part of a wide ranging manifesto for a fairer society.

Are we on board?
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Old 19th January 2022, 21:49   #92
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Comrades, where have you all gone?
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Old 20th January 2022, 01:10   #93
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So i have read through this thread and seen, green policies, government run organisation, health, education, defence, subsidise, taxes, etc i could go on all this to me points to politics, which this thread is so i vote close it.
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Old 20th January 2022, 08:37   #94
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For me this is not a political post. It’s about a huge issue we are all facing this year, energy price rises. Yesterday I had to deal with British Gas for my father. The previous DD had come out of my late mother’s account. After telling them my fathers bank details, I was informed the gas monthly figure would be £100 and the electricity would be £140. That is almost £3000 a year. It’s a huge hike up from what was been paid just before Xmas. He wasn’t in arrears, I’m going to phone up today and challenge particularly the electricity figure. Luckily my father has a small teachers pension as well as the oap. This year is going to be very difficult for many.
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Old 20th January 2022, 09:04   #95
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Originally Posted by mbev51 View Post
For me this is not a political post. It’s about a huge issue we are all facing this year, energy price rises. Yesterday I had to deal with British Gas for my father. The previous DD had come out of my late mother’s account. After telling them my fathers bank details, I was informed the gas monthly figure would be £100 and the electricity would be £140. That is almost £3000 a year. It’s a huge hike up from what was been paid just before Xmas. He wasn’t in arrears, I’m going to phone up today and challenge particularly the electricity figure. Luckily my father has a small teachers pension as well as the oap. This year is going to be very difficult for many.
Thank you your post is not political and I can it’s about difficulties with British Gas and the cost of energy.

That’s an enormous amount to have to pay out. By coincidence yesterday I was looking at my latest electric bill in the UK based on smart meter readings and in comparison it came in considerably lower at £99 in credit with a fixed tariff of £17 per month on economy 10.

Apologies I don’t know the answer to your dad’s energy bills, let’s keep politics out.

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Old 20th January 2022, 09:38   #96
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Originally Posted by MSS View Post
I was hoping that someone would ask, so thank you Martin.

High earner = anyone earning over £75k PA

My proposed tax regime:

A new tax rate of 50% at £50k PA.

A sliding scale of increasing tax between £50k PA and £100k PA thresholds such that above £100k, the tax rate is 100%.

Also, a wealth tax of 100% over £1m including main residence and all other assets.

This will have many positive side effects including curbing the ridiculously high property prices and generally help to achieve a fairer society.

Oh, I forgot to mention. Summary execution for those found to employ tax avoidance schemes or in any way evading tax. Similar benefits to be applied to those able but unwilling to work.

To complement the above:

Minimum wage for working people to be increased to £25k PA. Benefits to non-working people to be at a flat rate of £15k PA. All non-working people to be housed in low-cost housing in appropriate parts of the country.

The above would be just a small part of a wide ranging manifesto for a fairer society.

Are we on board?

what would the take home pay be at 50% tax on 50k?

tax avoidance, that is a government problem, they allow the loop hole. I used AVC's to reduce may tax outgoings.

where do people get the money to pay the wealth tax, if over the years their house has gone up to a million or more but they are on no more then average wage?

A fair society, mmm, one method does not cover all.
We have a female that inherits £250,000, blows the lot. Now lives in rented accommodation with the rent about £200 below market because that is all she could afford when working and now receives universal credit to now pay her rent etc. ya let the rich/well off that have been careful with their money support her. With energy prices rising will her universal credit go up? Will those taking their pension early get an increase?

A fair society is not all about the "rich" supporting the poor, the poor need to support themselves as best they can, not just sit there with their hand out. Some poor people work all the hours god sends and don't ask for state help.

No I do not support you tax scheme, sorry


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Old 20th January 2022, 10:08   #97
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Originally Posted by macafee2 View Post
what would the take home pay be at 50% tax on 50k?

tax avoidance, that is a government problem, they allow the loop hole. I used AVC's to reduce may tax outgoings.

macafee2
The tax thresholds would operate the same as now. Somone earning £49.9k would pay 20% tax on the whole amount. Another earning £52k would pay 20% on £50k and 50% on the £2k. The sliding scale means that someone earning £100k would take home less than £75k, but no one could take home more than £75k. I am ignoring NIC but that can be accommodated within this formula.

AVC's are not tax avoidance because they are a government scheme to encourage saving for the future. I also made good use of AVC's.

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Originally Posted by macafee2 View Post
..........

where do people get the money to pay the wealth tax, if over the years their house has gone up to a million or more but they are on no more then average wage?

macafee2
Sell their assets i.e. property if necessary, which will help recycle properties at reasonable prices because there would not be any incentive to pay high prices, the prices would be naturally regulated.

Quote:
Originally Posted by macafee2 View Post
.............

A fair society, mmm, one method does not cover all.

We have a female that inherits £250,000, blows the lot. Now lives in rented accommodation with the rent about £200 below market because that is all she could afford when working and now receives universal credit to now pay her rent etc. ya let the rich/well off that have been careful with their money support her. With energy prices rising will her universal credit go up? Will those taking their pension early get an increase?

macafee2
There will also be additional mechanisms to cover the irresponsible and the reckless.

Quote:
Originally Posted by macafee2 View Post
.............

A fair society is not all about the "rich" supporting the poor, the poor need to support themselves as best they can, not just sit there with their hand out. Some poor people work all the hours god sends and don't ask for state help.

macafee2
The top 5% of the population are worth more than £1m in the UK ie.they either earn or have assets of more than £1m or both. Liberate their wealth and you automatically address the needs of the other 95% including the poor.

I agree about the poor needing to work, hence the policy that all living citizens who are able to work will work in order to live. It will be their duty to work.

Quote:
Originally Posted by macafee2 View Post
.............

No I do not support you tax scheme, sorry

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Old 20th January 2022, 10:23   #98
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Originally Posted by mbev51 View Post
For me this is not a political post. It’s about a huge issue we are all facing this year, energy price rises. Yesterday I had to deal with British Gas for my father. The previous DD had come out of my late mother’s account. After telling them my fathers bank details, I was informed the gas monthly figure would be £100 and the electricity would be £140. That is almost £3000 a year. It’s a huge hike up from what was been paid just before Xmas. He wasn’t in arrears, I’m going to phone up today and challenge particularly the electricity figure. Luckily my father has a small teachers pension as well as the oap. This year is going to be very difficult for many.
I’ve just been reminded by my brother that father has an old oil filled radiator on 24/7 in his garden hut. That could account for a chunk of that bill!
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Old 20th January 2022, 10:24   #99
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Originally Posted by Arctic View Post
So i have read through this thread and seen, green policies, government run organisation, health, education, defence, subsidise, taxes, etc i could go on all this to me points to politics, which this thread is so i vote close it.

Steve, this thread has no political motives or discussion. It does address a wide range of topics that impact the population's everyday lives.

In addition, I do not see any arguments, bickering etc.

I would say this thread exemplifies the scope of the social secion. Cars can be discussed in this section but in reality they are only a very small part of peoples' lives which is reflected in this sections content.

Even tax itself is not a political topic be it that it can be used as a political instrument as can most other topics affecting peoples' lives.

It is of course your choice as to whether to read the content, but it would be a shame if the social section became another car topic section. Most of us can only get so excited about plenum drains and the techniques for keeping them clear!
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Old 20th January 2022, 10:31   #100
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I’ve just been reminded by my brother that father has an old oil filled radiator on 24/7 in his garden hut. That could account for a chunk of that bill!

I have a gadget that performs the same as a smart meter but without being a smart meter. You clip the current flow measuring device onto the incoming mains wire and the associated unit sends usage information to a display that you can place wherever in the house. It's a very useful device for keeping an eye on your consumption - it gives instantaneous, daily and monthly readings.

As I have just had a smart meter fitted I no longer need this device. You can have it FOC if interested.
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