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

Niv

bendix wrote: »

And the prize for the post which most aptly illustrates the veracity of a poster's nickname goes to . . . . .

Seriously, that wasn't a thought out post - it was a slogan from a cereal packet.

... and has nothing to do with the topic of this thread (not that he is the only one that cant read the title).

chewmylegoff

i would be happy to pay more income tax (c.f. more NI which isn't paid by over 65s or on investment income) in order to reduce the deficit, but only in conjunction with cost cutting across the board.

i'm not happy paying more tax to cut the deficit whilst supporting the status quo, including the payment of benefits of any kind to higher rate tax payers.

System

chewmylegoff wrote: »

i would be happy to pay more income tax (c.f. more NI which isn't paid by over 65s or on investment income) in order to reduce the deficit, but only in conjunction with cost cutting across the board.

i'm not happy paying more tax to cut the deficit whilst supporting the status quo, including the payment of benefits of any kind to higher rate tax payers.

That's what I said, we're hypocrites I'm afraid.

bendix

Joeskeppi wrote: »

That's what I said, we're hypocrites I'm afraid.

Why is that hypocritical?

What I'm hearing is a sense that many amongst us who earn a decent living are rising to carolt's challenge and saying: "yeah, no problem paying extra taxes, so long as we feel that there is a concomitant agreement that appropriate discipline is also shown by those taking benefits, PARTICULARLY those who don't need them but are driven by some perverse kind of sense of entitlement, simply because they've paid tax."

I don't see anything hypocritical in that.

The budget will only be reduced if those who can pay higher taxes can do, and those who receive benefits show similar disciplined restraint.

Seems perfectly fair to me.

chewmylegoff

Joeskeppi wrote: »

That's what I said, we're hypocrites I'm afraid.

it's not hypocritical to expect waste to be reduced (including the reduction of unnecessary benefits) at the same time as taxes are increased.

i hardly think i'm a hypocrite for wanting increased taxes to be used as efficiently as possible for necessary expenditure rather than to be redistributed to people who don't need it and in many cases who earn more than i do.

olly300

RenovationMan wrote: »

I dont understand why they cant bundle CB, CTC and WTC together in one benefit and just pay them to people who need assistance. The reducion in admin costs would almost pay for itself.

It's because CB comes from the Treasury.

There as the rest of the money for the other benefits comes from the DWP.

It's internal government politics.

Nelski

Well I know I fully support the cuts that are planned to benefits and hope they do go much further over time but that would make me hypocritical as I don't receive any so things that do affect me and would hurt but I would accept as being my lot in this debt free wannabe country we live in would be

Bigger VAT increase - shopping is mostly a choice so this could be cut back in my household if need be
Cut the 25% reduction on single household council tax - painful very painful but lots of singles have the income to afford the full tax (bet this one will be popular )
Stop the loopholes that exist massively in director salaries so they can now take the minimum taxable salary and take lots of top ups in bonuses - This may affect the incentive to set up business though but is bound to bring in an awful lot of extra revenue
Introduce a winners tax on things like premium bonds (which I have) and lottery wins (which I don't)
Dump ISAs

Nobody should be getting away without any effect so heres my chin and Ill take it on it

Jowo_2

carolt wrote: »

...

Do tell us all how YOU are going to help, personally.

I receive a council tax discount and would be happy for the 25% single person's allowance and student discount to be scrapped and for council tax to be billed on a per occupying adult basis rather than per property basis.

I don't have a car but don't want to punish drivers. I don't have kids but would be happy for all child benefit, which is essentially very expensive pin money to adminster, to be scrapped for all. I've always thought of this as my mother's 'gin and fags' money.

I receive no other benefits, allowances or credits but here's some things I'd propose.

Removal of SMI - it's up to home owners to put aside a nest egg to cover a sudden loss of income, sell the property, take in a lodger or buy an illness/accident/unemployment policy. buying a property is a risk that can lead to a reward so put the onus on property owners mitigating the risk as they get to keep the equity increase as a reward for their residential property without being taxed.

further reductions in housing benefit rates - bring back the way under the old housing benefit where a percentage of other benefits was used to contribute towards the rent, such as a levy of a reduction in 5 or 10% of Income support/JSA towards it rather than offering 100% free rent and the ludicrous retention of £15 per week if the LHA tenant finds a property less than the maximum LHA rate.

rise in income tax - something like 0.5 or 1% increase in taxes for all

tax credits - scrap - this is one of the reasons why some households have a second adult that doesn't work, or an adult that chooses to only work part time. currently a single parent with 2 kids gets £100 per week even though they may spend decades out of the employment market and not contributing towards tax for the majority of their working age.

jamespmg44

mbga9pgf wrote: »

Raising interest rates wouldnt raise tax. The money raised from base rate doesnt go to the government.

A tax on mortgage interest would however. Not very likely at this moment in time.

How about a tax on home equity?

People pay tax on interest earned on savings though - given the earnings from savings are pretty pitiful just now if there was a higher interest rate then the potential tax revenues from that would increase surely?

Not sure a tax on home equity could be a good idea - surely that would just encourage folk to MEW like mad and get into stupid levels of debt to avoid the tax?

StevieJ

Jowo wrote: »

I receive a council tax discount and would be happy for the 25% single person's allowance and student discount to be scrapped and for council tax to be billed on a per occupying adult basis rather than per property basis.
.

Touche