What cuts are you prepared to personally suffer to repay the deficit?

bendix

carolt wrote: »

I said - I've already made one in terms of losing child tax credit.

I suppose I'd like to see VAT on luxuries rise higher, as that would affect those who buy unnecessary luxuries most. Obviously, though, I'd want that to coincide with a reorganisation of the existing illogical VAT system, which classes as luxuries many items that really aren't.

That way, if I choose to buy luxuries then I wil be taxed more - seems fair and will hit the genuinely poor least.

i'm not arguing with this point, but what do you deem as luxuries? My sense - and I could be wrong - is that most basic foodstuffs (ie not complete meals or takeaways) are already VAT exempt or zero-rated, and things like clothes, power, fuel attract low VAT.

I'd be fine with much higher VAT across the board, or failing that, on luxury goods.

chucky

carolt wrote: »

chucky - just the man we were looking for.

What sacrifices are you going for

i'm not any benefits, so none can be cut.

carolt wrote: »

What sacrifices are you going for - tax rises like the admirable bendix, who at least had the courage to state his opinion (albeit with some gratuitous personal insults thrown in for fun).

i'm with Bendix - we've just gone through one of the worst economic crisis since the 2nd world was and you're expecting not to be impacted...

i don't have a problem with tax rises, i also don't have an issue with cuts. they have to happen.

carolt wrote: »

Or would you prefer property axes - hit you where it hurts, eh?

i'm not sure what this has to do with anything.

i'll take into consideration that you had a tough day yesterday and today looks like it's not going to get any better... never mind - chin up old dear...

StevieJ

jamespmg44 wrote: »

Here's some for starters:

Raise interest rates to a more sensible level.
Cut child benefit to the first child and limit it to those with a household income of less than 50k (as DINKYs planning for kids in a few years this wouldn't affect us now)
Ensure that benefit paid to a single person is capped at 12k a year (slightly more than minimum wage), for a couple it's 24k. Why should someone who sits on their fat backside get more than someone who's working.
Withdraw from Afghanistan.

Scratching my head on that one, you have just made it worthwhile

bendix

chucky wrote: »

who died and left you in charge?

It seems a reasonable enough post. She asked expressly for how we are going to make personal sacrifices, and instead people unwittingly vindicated her stance by avoiding the question and instead came out with vague pledges about what cuts to make which - frankly - supported her argument rather than harmed it.

We attacked her yesterday for her outrage at losing CB, despite being in a high income family. She is rightfully retorting, by challenging us to name sacrifices we will make personally. By replying that public sector people should lose their jobs or we should tax prostitution - well, it just plays into her hands, doesnt it?

StevieJ

Jonbvn wrote: »

Since we are talking big ballpark, some things I think the gov't could get away with, and would effect me greatly.

Scrap ISA's.
Pension contributions to be taken from taxed income (I believe there are too many pension contribution dodges ATM).
.

Have you any more ideas how you encourage people to provide for themselves in later life

StevieJ

It would not affect me personally but perhaps we could increase the minimum wage and ditch working tax credits.
BTW I quite like the idea of tax rises, then we all pay some more equally than others.

Alan_Cross

A._Badger wrote: »

I'll take that as meaning 'I have no plausible response'.

You can take it as meaning you had made no comment based either on logic or recorded history, actually...

Alan_Cross

bendix wrote: »

It seems a reasonable enough post. She asked expressly for how we are going to make personal sacrifices, and instead people unwittingly vindicated her stance by avoiding the question and instead came out with vague pledges about what cuts to make which - frankly - supported her argument rather than harmed it.

We attacked her yesterday for her outrage at losing CB, despite being in a high income family. She is rightfully retorting, by challenging us to name sacrifices we will make personally. By replying that public sector people should lose their jobs or we should tax prostitution - well, it just plays into her hands, doesnt it?

I see no logical connection between the two.

It may be a retort but I see nothing whatsoever 'rightful' about it. More a kind of knee jerk lashing out, I would have said.

If Carol wants to point the finger, as is perfectly reasonable, it should not be by way of asking other ordinary people to make sacrifices, but rather in the correct direction - this misbegotten government and its City pals.

IveSeenTheLight

IveSeenTheLight wrote: »

Please show where I state I am a self proclaimed hypocrit?
Just because you have been hit with a barrage of criticism from some prominent members in this forum, don't try to pass it on to others. It's laughable really

I'm all for cutting the deficit, even paying towards it myself.
I don't live in the UK, don't take any benefits (even child benefits) but still pay taxes there.
I'm even happy to pay more taxes and take hardship to provide a better future for our childrens generations.

You on the otherhand are a self proclaimed high tax thereshold family and still want to scrounge benefits.

It beggers belief

I take it your happy with my contribution carolt.
I pay taxes, don't claim any benefits and don't use any services.
I'm even happy for them to take more taxes to get over this countries debt.

I do however don't think that high tax earning households should be receiving any benfits

ash28

Personally I think the child benefit changes are just the start of much larger benefit changes - I don't disagree with changes in principle - I do tend to disagree with the rough and ready implementation. The fact that the child benefit changes will impact families where one parent maybe working and paying higher rate tax will lose everything, those families where both parents work and earn just under the threshold will still receive it. That isn't fair - just cheap to implement. I just hope any further cuts will be a bit better thought through.

It will save £1bn, peanuts in the scheme of things - they could easily have cut the foreign aid budget by £1bn - it has nothing to do with deficit reduction and more to do with the "big society" where in the end it will be charities and churches who will be expected to pick up the pieces of a much smaller state.

We have both retired now - as of 1st October - both are 55 and we did receive child benefit for all of our 3 children - but I would say that has been repaid many times over in taxes at the higher rate, during and after receipt of the benefit. And if I'm honest we could have done without it - our eldest is 31 and child benefit covered the cost of school dinners, it wasn't a make or break in our finances. The kids could always have taken a packed lunch. My parents got it for 3 of 4 children too, it covered the cost of school dinners then too. Perhaps it's worth a bit more now.

In 10 years time we will be eligible to full state pensions each and if it's available to us we will each claim it. I fully expect the state pension to be means tested by then and imagine we will not be entitled to anything and have not factored it into our finances. If it's there we will take it.

What would I personally sacrifice? I would pay higher income tax or higher vat or fuel duty or duty on alcohol or as a smoker, tobacco duty, as a traveller, higher passenger duty. Though if basic rate tax ever went back to 33% as it was when we were first married I would probably move to a country like Cyprus or somewhere else that has a favourable tax rate for people in receipt of a pension. So there is a limit on what I would be prepared to pay to live here.

The only benefit we have ever received as a family was child benefit and I would imagine that will be the only benefit we will receive in our lifetime. I'm lying - I did get NI credits for a few years, courtesy of child benefit, when I didn't work when the kids were small.