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Blue Labour 2
Comments
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chewmylegoff wrote: »
in any event, i really cannot see why we need to pay a state pension to rich old people. they can argue that they paid "national insurance" all they like, but anyone with a calculator and google can work out in about 5 minutes that total national insurance contributions inwards are dwarfed by all the things that they allegedly cover.
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I don't disagree that some form of "claw back" should be in place for the very wealthy. The question is where do you set that threshold?
NI is just part of the taxation pot these days often nominally raised when tax cuts were made.
The only real link it serves is as contribution term monitor to ensure you "qualify" for whatever you need to take out."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »I don't disagree that some form of "claw back" should be in place for the very wealthy. The question is where do you set that threshold?
NI is just part of the taxation pot these days often nominally raised when tax cuts were made.
The only real link it serves is as contribution term monitor to ensure you "qualify" for whatever you need to take out.
The government seems happy to cut off benefits at the higher rate tax band for the working population.0 -
grizzly1911 wrote: »I presume you mean "there retirement".
I presume you've gotten confused about the difference between their and there because what I wrote made sense and changing it to what you are presuming wouldn't:1/ Belonging to or associated with the people or things previously mentioned or easily identified.
2/ Belonging to or associated with a person of unspecified sex: "she heard someone blow their nose loudly".
It's not the fault of someone who is 0-50 now that the previous generations have treated pensions as a ponzi scheme. I never promised, or voted in favour of, them receiving more in pension benefit than they funded.Having a signature removed for mentioning the removal of a previous signature. Blackwhite bellyfeel double plus good...0 -
£5 per month? Have a good look at your pay slip.
I do from time to time; an easy way to put a smile on my face
however as I can't see the relevance I will have to assume that the gargantuan ladle of exaggeration went straight over your head. Having a signature removed for mentioning the removal of a previous signature. Blackwhite bellyfeel double plus good...0 -
chewmylegoff wrote: »The government seems happy to cut off benefits at the higher rate tax band for the working population.
And what has happened to the higher rate (40%) band?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
I presume you've gotten confused about the difference between their and there because what I wrote made sense and changing it to what you are presuming wouldn't:
It's not the fault of someone who is 0-50 now that the previous generations have treated pensions as a ponzi scheme. I never promised, or voted in favour of, them receiving more in pension benefit than they funded.
Yes very confused.:o
Were you specifically asked the question whether you wanted to vote for them? I certainly wasn't.
The actual state pension on it's own is not the kings ransom portrayed.
I wonder how the first generation to contribute for people who had never contributed anything felt?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »I don't disagree that some form of "claw back" should be in place for the very wealthy. The question is where do you set that threshold?
NI is just part of the taxation pot these days often nominally raised when tax cuts were made.
The only real link it serves is as contribution term monitor to ensure you "qualify" for whatever you need to take out.
But there is "claw back" - rich pensioners get taxed at the higher rate tax rate just like everyone else. Let alone any ability to purchase more and therefore keeping the economy going, and paying VAT.0 -
grizzly1911 wrote: »The actual state pension on it's own is not the kings ransom portrayed.
I wonder how the first generation to contribute for people who had never contributed anything felt?
When the state pension came in it was tiny and the age to claim it was higher than the average age people lived to.
I get asked every 5 years or so who I am going to vote for. If a party comes along that I agree with the platform of and that platform includes cutting the amount of welfare for pensioners then I am in no way obligated to oppose it.
We can't maintain pensions at the current level, with the current ratio of retirement age to life expectancy without vast tax rises. This can only be resolved in two ways: control what we spend on pensions now and in future or decimate pension provision at some point in the future.
I'd vote for a pension system that includes pension spending now that can be maintained for future generations. That would likely mean a considerable delay to the pensionable age and decreased spending per pensioner.
Yes it'll suck for people retiring now who didn't put money aside for themselves; however the other alternative is that people working today have to pay for the current generations pension and have to provide their own pension as well when/if they finally get to retire.
I'm seriously considering giving up on a private pension (which I've paid into since starting work) because at best I expect saving more will just mean getting less state support and at worst things will get so desperate that those without decent pensions will need to appropriate some of the pensions of those who do. Better to pay the extra tax and lose the employer matching and put the money into savings that I can move around the world as I decide.Having a signature removed for mentioning the removal of a previous signature. Blackwhite bellyfeel double plus good...0 -
grizzly1911 wrote: »And what has happened to the higher rate (40%) band?
Not a lot for quite a while - I am not sure why that is relevant though as the band is the same for everyone.0 -
chewmylegoff wrote: »Not a lot for quite a while - I am not sure why that is relevant though as the band is the same for everyone.
Instead of paying HRT at £42476 (TYE 2012) it will now come into play at £41451 (TYE2014). despite inflation running at say 3% p.a (probably more in pensioner world) making it closer to £45000.
More the principal that HRT isn't really HRT any more it more a good working wage threshold.
Wherever the threshold they abruptly truncate a benefit it is typically only going to fall going forwards. Many are going to arbitrarily "punished" for slipping over the threshold.
I wonder how many/what percentage actually fall into this bracket? State pension just over £5720."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0
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