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George Osborne MUST now U-Turn 'Granny Tax'!
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Just to add weight I and my business partner for 20 years have remained just under higher rate tax. We play with divi's, retained profits, overseas company trips (purely for educational and prospecting reasons of course
) and benefits to achieve it.
I did make a calculation error 3 years back and we paid a little at higher rate - it made me feel ill
I believe past performance is a good guide to future performance :beer:0 -
I did make a calculation error 3 years back and we paid a little at higher rate - it made me feel ill
I bet, particularly when you also take another 15%+ in employers+employees NI into account!I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
It always makes me laugh when I hear people defend the tax cut for millionaires by saying, 'well, it didn't raise much anyway because the millionaires all moved their income off-shore'.
Since when did government forumulate policy on the basis of whether or not the people the policy was targeted at are willing to abide by the laws of the land?
What's next? Are we going to stop prosecuting people accused of GBH because some people still commit GBH?0 -
It always makes me laugh when I hear people defend the tax cut for millionaires by saying, 'well, it didn't raise much anyway because the millionaires all moved their income off-shore'.
Since when did government forumulate policy on the basis of whether or not the people the policy was targeted at are willing to abide by the laws of the land?
What's next? Are we going to stop prosecuting people accused of GBH because some people still commit GBH?
And if they did this to save 50% tax then surely they will do the same to save 45% taxThe only thing that is constant is change.0 -
zygurat789 wrote: »And if they did this to save 50% tax then surely they will do the same to save 45% tax
Yes, but less so. That's where the "curve" part of "Laffer curve" comes from!I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Ah! well, I just knew that I was on a hiding to nothing here when I first made the post, and so it has proved.
I just wonder though just exactly how many of the posters who have given me a kicking here are, or will soon be Tax paying Pensioners with income from whatever source over £10,500 a year?
Would their comments be different I wonder if it was them on the receiving-end of something like what has happened in respect of the Elderly Tax Allowance tax allowance being FROZEN for for all time?
I do of course appreciate that some time in the future the bottom tax band will catch up and even overtake it. In the meantime tax paying Pensioners will have lost many hundreds, if not thousands of pounds. And will continue to do so until one pops the clogs!
Particularly new tax paying Pensioners who are effected badly as they will lose out on £325 a year from next April.
The estimate is that Osborne will have pocketed straight out of Pensioners Pockets around three and a half BILLION pounds just by this measure alone by end 2014.
One day all here I hope for you, with a little bit of luck will get to the age when Pensions start arriving from whatever direction.
I wonder how they will feel on retirement about Brown upping the 10p tax band to 20p and the ending of the Elderly Tax Allowance by Osborne? Both measures of course effecting the low paid and Pensioners.
By and large the opinion here seems to be "Sod the Pensioners because I am alright Jack"!
Please remember and mark my words...
These measures will bite some of you one day and perhaps you will regret your present attitude. But by then of course it will all be just too ruddy late to do anything about it.
Bye Bye.You've heard the budget speech now you've been told. Make lots of cash then die before you're old 'Cause we're gonna Tax Gran that's what it is We're gonna Tax Gran freeze her allowances. You better hope next winter isn't cold. We're gonna Tax Gran, we're glad she's there.To subsidize the Billionaires. We're gonna Tax Gran and this is wrong!0 -
boozercruiser wrote: »Ah! well, I just knew that I was on a hiding to nothing here when I first made the post, and so it has proved.
I just wonder though just exactly how many of the posters who have given me a kicking here are, or will soon be Tax paying Pensioners?
Would their comments be different I wonder if it was them on the receiving-end of something like what has happened in respect of the Elderly Tax Allowance tax allowance being FROZEN for for all time?
I do of course appreciate that some time in the future the bottom tax band will catch up and even overtake it. In the meantime tax paying Pensioners will have lost many hundreds, if not thousands of pounds.
Particularly new tax paying Pensioners who will lose out on £325 a year from next April.
One day all here I hope for you, with a little bit of luck will get to the age when Pensions start arriving from whatever direction.
The estimate is that Osborne will have pocketed straight out of Pensioners Pockets around three and a half BILLION pounds just by this measure alone by end 2014.
I wonder how they will feel on retirement about Brown upping the 10p tax band to 20p and the ending of the Elderly Tax Allowance?
Both measures of course effecting the low paid and Pensioners.
By and large the opinion here seems to be "Sod the Pensioners because I am alright Jack!
Please remember and mark my words...
These measures will bite some of you one day and perhaps you will regret your present attitude. But by then of course it will all be just too ruddy late to do anything about it.
Bye Bye.
Drivel. Learn some facts about how economies work.
Why, if I were being cynical I could think this whole thread has been driven by labour/socialist supporting activists. But that could never happen. Could it ?It only takes one tree to make a thousand matches, it only takes one match to burn a thousand trees. As well, the cars are all passing me, bright lights are flashing me.
Johnny Was. Once.
Why did he think "systolic" ?0 -
boozercruiser wrote: »Ah! well, I just knew that I was on a hiding to nothing here when I first made the post, and so it has proved.
I just wonder though just exactly how many of the posters who have given me a kicking here are, or will soon be Tax paying Pensioners?
You're missing something here boozer. Many are exactly that but are not driven by selfish greed and see that a fair and balanced society is good for all.
If nothing else this weekend of brit celebration demonstrated that not all happiness and pleasure comes directly from the money in your pocket.
I hope you enjoy fighting for every penny you can grab from the system but don't please judge others by the same criteria.
:beer:I believe past performance is a good guide to future performance :beer:0 -
Since when did government forumulate policy on the basis of whether or not the people the policy was targeted at are willing to abide by the laws of the land?
What's next? Are we going to stop prosecuting people accused of GBH because some people still commit GBH?
'Millionaries' have been abiding by the law and decided by legal means to have to have less earned income that could be taxed, reducing the yield. The previous policy was therefore counterproductive. I fail to see how your likening to GBH is in any way legitimate.boozercruiser wrote: »Ah! well, I just knew that I was on a hiding to nothing here when I first made the post, and so it has proved.
I just wonder though just exactly how many of the posters who have given me a kicking here are, or will soon be Tax paying Pensioners with income from whatever source over £10,500 a year?
Would their comments be different I wonder if it was them on the receiving-end of something like what has happened in respect of the Elderly Tax Allowance tax allowance being FROZEN for for all time?
Perhaps some of them have had their higher rate tax allowance reduced instead. Or didn't ever receive a married persons allowance. Or didn't ever receive MIRAS. When is your campaign starting to address these?
As will everyone else who have had their upper allowances reduced taking them into high rate tax so they don't benefit from an increase in the basic allowanceI do of course appreciate that some time in the future the bottom tax band will catch up and even overtake it. In the meantime tax paying Pensioners will have lost many hundreds, if not thousands of pounds. And will continue to do so until one pops the clogs!
Odd, I thought most interlocutors were not too concerned about their particular taxation, just where it is being directed ie they wanted it to go to the most needy groups which most people have judged as people too poor to pay tax in the first placeI wonder how they will feel on retirement about Brown upping the 10p tax band to 20p and the ending of the Elderly Tax Allowance by Osborne? Both measures of course effecting the low paid and Pensioners.
By and large the opinion here seems to be "Sod the Pensioners because I am alright Jack"!0 -
decided by legal means to have to have less earned income that could be taxed, reducing the yield.
This "Taxable Income Elasticity" is the core driver of the Laffer Curve.
It's no different to deciding to fill your car before fuel duty goes up, or is that also somehow akin to GBH?I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0
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