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Today's Budget
Comments
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Higher rate is 40p, Graham, and will start at a lower rate again as the additions to the personal allowance are counterbalanced by lowering the threshhold at which the 40p rate starts.
You're thinking of additional rate taxpayers who already have nil personal allowance as this is phased out on those earning over £100k.
Sorry, but I couldn't have made it any clearer that I was talking about exactly what you have corrected me on. I put "those paying 50p" in the post.0 -
I suggest the Labour socialist frothers google "Laffer Curve". Its even got its own dedicated wiki page with pictures and everything. Unfortunately, the pretty pictures will do little to placate their jealous, lazy little minds, having not worked hard enough at school, instead preferring rates of taxation which yield lower total tax haul in the long term.
We already have the top 3% of UK earners contributing 30% of the total tax haul. Is this not enough? How about the lazy get off their backsides, get some decent qualifications, work harder and perhaps do as well as those that have made it to the top?0 -
The Libdems say this is a boon for the poorly paid but will the tax saving not just be offset by a reduction in working tax credit?
In our case we lost £10 per week in tax credit, will be gaining £10 per month in the new tax allowance, and will be paying an extra £2.50 a month in petrol due to the fuel duty rise.
I'm not really feeling the love.0 -
I suggest the Labour socialist frothers google "Laffer Curve". Its even got its own dedicated wiki page with pictures and everything. Unfortunately, the pretty pictures will do little to placate their jealous, lazy little minds, having not worked hard enough at school, instead preferring rates of taxation which yield lower total tax haul in the long term.
Just done that, it appears to be a symetrical dome implying that 50% would be the optimum level before revenue started falling away
Those Socialists must have given it some thought before they set the 50% higher rate.
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Is it just me or does this face look nervous?!?!
pic courtesy off bbc.co.uk
the smile seems to be dropping the more i look at it?!?0 -
that's good stevie! wonder what ken livingstone thinks the equilibrium point is?0
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Is it just me or does this face look nervous?!?!
pic courtesy off bbc.co.uk
the smile seems to be dropping the more i look at it?!?
I must admit the smile certainly looked forced.0 -
shortchanged wrote: »I must admit the smile certainly looked forced.
It is.
And every smile in budgetry history is forced too. You are expected to hold up the case and smile.0 -
Graham_Devon wrote: »This seems to have got up the nose of the labour apologists
Those early retired baby boomers will be cheering though.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Graham_Devon wrote: »It's amusing listening to higher rate taxpayers (those paying 50p) .
Saw on the news yesterday someone who claimed the 50p income tax rate (+NI) is the third highest income tax rate in the World.
Not exactly a great advert in terms of Britain being "open for business".“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0
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