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Boris has promised to cut taxes for around 3 million higher earners by raising the 40p threshold from £50,000 to £80,000 if he becomes prime minister
Thank you dinahmo I am working on it - discreetly of course?. Of course he wants his own home. They don’t rationalise entirely at that age do they?
WWWM2 - your GS should go for it. If he completes the course he will no doubt get a well paid job in a developing industry and will be able to meet the repayments. You say that he would never dream of any debt so presumably he has no plans for buying a home in future.
The problem is that during the sixties when most of us on here were in school and thinking about our futures, only 4% of school leavers went to uni. Now the percentage is 28% and the country cannot afford to pay for them all.
I have some tax clients who are self employed (some with part time jobs) who are paying off student loans. I've just completed the 2019 tax return for someone with taxable income of £25,250 and his student loan repayment was £22.00 - hardly a burden. This year the ceiling is £25725.
"I don't think people earning £50K to £80K would class themselves as "wealthy". "
I would ! Perspectives perspectives
My eldest GS has just finished his A levels. He is a high achiever and wants to do electrical engineering in particular robotics, but he is totally unable to make up his mind because he is worried about the level of debt he will have at the end of a degree. He is the sort of person that saves for everything he wants and would never dream of any debt.
No doubt daughter will assist him in his decision but it is hard.
We never had that worry.
Interesting points about income. According to the ONS, median income was £28,400 in year ending 2018. I suspect that many of us under-estimate how wealthy we are, compared to others.
This piece has some interesting information about the estimated cost per household of the Brexit vote (£900), and the increase since 2012 in jobs paying below the living wage. I used to earn more than £50K and, even in London, felt very well off, but my daughter had left home by then and my partner is still earning. But I think we should pay more tax: I'd rather pay more than see the safety nets and the NHS disappear. I feel so sorry for young people today, having to pay for all the things I was able to take for granted (including no hassle travel to Europe and opportunities to work there if I'd wanted - all gone now).
There is an interesting and amusing piece by Polly Toynbee in yesterday's Guardian entitled "Behold, the Tory leadership candidates: all in denial, all in dreamland". It is also a sad indictment of the present state of the country.
GG54 - I think your deleted word (crass) is more appropriate
Just saying “ it doesn’t matter what the tories do, cos Corbyn would be worse” is a load of whataboutery. Just because we criticise the tories doesn’t mean we support Corbyn.
Well good for you opal
all my family are in that higher tax bracket and all consider themselves both fortunate and wealthy compared to those who are not so fortunate. Not that of them would willingly take the thirty pieces of silver whilst in the full knowledge that they would do so at the expense of the poor. Indeed we are all of like mind that we would be fully willing to pay extra tax in order to right the wrongs done by this immoral government.
Opal I agree here in the SE £50,000
doesn’t go far.
Whitewave - "one candidate has indicated that he intends to reduce tax for the wealthy" - I don't think people earning £50K to £80K would class themselves as "wealthy". £50K is a good salary, but hardly life-changing these days, and certainly not in the "wealthy" bracket. Many young hard-working parents are in this bracket, they have enormous mortgages and young families, and pay huge amounts for nursery places. They are definitely not "wealthy". I think BJ has got it spot on.
ethel as good as anything with this lot.
Glad i dont vote. It makes interesting watching but i dont care for anyone in politics. When i did vote i stuck a pin in
Right now these candidates are pitching to, firstly Tory MPs, and secondly to Tory Party members, most of whom are likely to have incomes well above the average, hence the promises of tax cuts for the wealthy.
Has not is!
I agree with Lucky taxes need to increase especially for high earners, and I am one, to pay for the NHS and social care. There isn’t a politician who will dare unfortunately. Boris knows he will never get his proposal through but it is a vote catcher in the same way he promised 350 million a week to the NHS. He is absolutely no integrity but I fear he will be our next prime minister.
Next remark
“BJ is known throughout the world”
Dear oh dear these people can’t be real.
Sky News question to an MP supporting Johnson.
Q-why are you supporting BJ?
A- because he is a man of principle
I’ve just spluttered my coffee.
???????
Just because you don't like the Tories and their " I'm all right Jack" doesn't mean you love Corbyn.
Surely to God , we have moved on from that.
,*day6*. To talk about what ifs and buts and wherevers of a Corbyn administration is typical right wing diversionary tactics.
But,but, but, we are discussing the government, of which one candidate has indicated that he intends to reduce tax for the wealthy.
I think for you to be taken seriously day6 you need to provide evidence.
If you are also happy that the intention that the poor will pay for it as a much larger % of their salary, then frankly I would question your moral standpoint.
But the same side of that coin is that the lowest paid would also see less in their pockets when Corbyn taxes the country to death to pay for his Marxist Utopia. It ain't going to happen.
Tax loopholes need to be closed and a body set up to ensure that each and every huge business pays its fair share of tax. Oh but Corbyn is going to fund Uni places and cut student debt too (as a vote winner - nothing like gullible young voters)
One has to wonder who will be hardest hit in Corbyn-Land. I suspect it will be those on life's treadmill, doing their utmost but getting nowhere fast. (IE: Workers who aspire to better but struggle to get there.)
At least the Conservatives have ensured that the lowest paid and those on low incomes pay little or no tax. That is conveniently forgotten by Corbyn devotees.
It’s not about police, nurses getting pay rises it’s about having enough of them in the first place. Cuts in public services mean fewer police on the streets, fewer nurses etc. But if rich people pay less tax that’s fine ( for them) and if people who aren’t rich vote for this then more fool them.
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