Restoration of the age related allowance

gadgetmind

harz99 wrote: »

65556 now signed.:D

Shame it wasn't 65536 - what a missed opportunity.

SnowMan

gadgetmind wrote: »

Shame it wasn't 65536 - what a missed opportunity.

That's just 2 bad :T

Daniel_Elkington

I haven't read all this but would like to insert my 2 pen'orth;

It is a very nice idea to allow pensioners to earn more before they pay tax. However it is just a nice idea.

Pensioners at present were part of the baby boom generation. They bought cheap housing and made a packet off that, they had university paid for, they had compulsory final salary schemes until 1978. They have had three installments of a second state pension.

They had a rich, rapidly growing economy through the technological revolution.

We now have a deficit, our government is in more debt than all other governments added up. We have (correct me if Im wrong) about 1 in 4 young people unemployed and on benefits that the baby boomers campiagned for. We have CCTV, we have speed cameras. We have petrol that costs more than food. We have the worst recession since the second world war.

And this 'granny tax' only takes effect 'in real terms' that is, if the inflation rate is 2.5%. BoE forcast that inflation should drop off very soon and be about 1% for a few years.

Additionally they get to retire at age 65 or 60. I'm probably going to have to work to 75 and I'll probably get less income from the state and pay more tax over the time.

They get the winter fuel allowance, free prescriptions, free eye-tests, free bus-passes and some even get free TV license.

Like the public sector workers whinging that their worst final salary schemes is only double the average private sector pension, because the govt is only putting in an extra 35% of salary from taxpayers money, I fail to have any sympathy here.

Like I said, it's a nice idea, but really unaffordable at present. It's a luxury which we can't afford because, as a country, we are spending more than we earn and are hideously in debt.

squirrl

The coalition government came to power promising to look after the interests of pensioners. Since then, they have reduced the winter fuel allowance, stopped free long-distance travel for pensioners, thought about getting rid of bus passes entirely and introduced the granny tax. When pensioners see that the 50p tax rate has been reduced to 45p, it is little wonder that there are complaints about fairness.

dunstonh

When pensioners see that the 50p tax rate has been reduced to 45p, it is little wonder that there are complaints about fairness.

Do you think it is fair to tax people on more than half their income (including NI, the 50p rate takes them over half their income)?

Do you think it is sensible to tax at 50% and bring in less than when the tax is 45%?

Independent sources have said that pensioners have escaped the cuts more than any other group. Why do you think pensioners should be exempt from cuts and therefore require increases in cuts on other groups?

le_loup

dunstonh wrote: »

Do you think it is sensible to tax at 50% and bring in less than when the tax is 45%?

You may be right on this but have you seen any evidence for it other than the chancellor says it will?

Thrugelmir

le_loup wrote: »

You may be right on this but have you seen any evidence for it other than the chancellor says it will?

The individuals that earn these sums to pay top rate of tax will predominately be executives in large corporations. If we want companies to be based in the UK. Then we have to be attractive. Not just with personal taxes but corporate taxes as well.

The total tax revenues paid by a Company will far exceed the 5% income tax reduction for a few individuals.

zygurat789

Thrugelmir wrote: »

The individuals that earn these sums to pay top rate of tax will predominately be executives in large corporations. If we want companies to be based in the UK. Then we have to be attractive. Not just with personal taxes but corporate taxes as well.

The total tax revenues paid by a Company will far exceed the 5% income tax reduction for a few individuals.

Again this is just personal opinion based on what Go, whose statements are not always terminologically correct, has said.
There are some areas of taxation where the UK is virtually a tax haven.

zygurat789

dunstonh wrote: »

Do you think it is fair to tax people on more than half their income (including NI, the 50p rate takes them over half their income)?

Do you think it is sensible to tax at 50% and bring in less than when the tax is 45%?

Independent sources have said that pensioners have escaped the cuts more than any other group. Why do you think pensioners should be exempt from cuts and therefore require increases in cuts on other groups?

I think people should be taxed on all their income!

This is because they have already suffered for years and are still suffering more than any other group due to QE in ways which you know well.
And it does not follow that there would be cuts on other groups but if you want a few suggestions then politicians and civil servants would be high on my list.
The government needs to get out of peoples lives and stop spending money for the sake of it.
Which independent sources and have they read post 185 above?

Thrugelmir

zygurat789 wrote: »

Again this is just personal opinion based on what Go, whose statements are not always terminologically correct, has said.
There are some areas of taxation where the UK is virtually a tax haven.

Why do US companies base their European headquarters in Eire?

This is factually and has been for some years.