Tax Credits

Mistermeaner

Yup. I'd love to see some sort of table showing the nett cash at the end of a month for people in all different scenarios of work/not work a kids eg what is the difference in nett cash for a married couple with 2 kids who both work 40hrs a week, pay for childcare and earn 25k each vs a married couple with 2 kids who don't work and all the permutations in between.

Rather simplistic but in my view anyone should be at least 60p in the £1 better off working than not working.

cells

Mistermeaner wrote: »

Yup. I'd love to see some sort of table showing the nett cash at the end of a month for people in all different scenarios of work/not work a kids eg what is the difference in nett cash for a married couple with 2 kids who both work 40hrs a week, pay for childcare and earn 25k each vs a married couple with 2 kids who don't work and all the permutations in between.

Rather simplistic but in my view anyone should be at least 60p in the £1 better off working than not working.

Wasnt the universal credit idea that the marginal "tax" on benefit withdraw should be no more than 65%

The problem is that without a high marginal "tax" rate on benefits you either need to give more benefits to people earning a higher income (= more money spent on benefits) or you cut the benefits of the poorest even more so that when they start working the "marginal tax rate" is lower

neither of those is easy to do the poor are already deemed to be poor so taking more away from them isnt easy and giving more to the less poor to make the marginal tax rates lower is going to cost a lot and give money not to the poor but the less poor.

citizens should simply accept that not working should not be an option. It isnt a high "tax" rate its the state reducing its help as you get back on your feet

CLAPTON

Mistermeaner wrote: »

Rather simplistic but in my view anyone should be at least 60p in the £1 better off working than not working.

makes no sense

Mistermeaner

What is means is each pound you earn through work leaves you 60p nett better off at the end of month vs not earning it.

Trouble with the tax credits, to my limited understanding, is that there is no point in people trying to earn more because it makes nett no better off, or at least marginally not much better off.

My 60p in the pound point would mean that someone on 20k per annum paid work should be nett 1k per month (12k per annum) better off than someone not working at all (kids etc all being equal)..... and 6k nett per annum better off than someone earning 10k etc etc

I've not worked it all through but point is work should pay

Moto2

Government defeated in the Lords

http://www.bbc.co.uk/news/uk-politics-34631156

Mistermeaner

A terrible day for democracy

andrewmp

Mistermeaner wrote: »

A terrible day for democracy

It might also stop MPs thinking they can sneak through important changes via statutory instruments too.

Mistermeaner

Sneak?

Message too short

michaels

Moto2 wrote: »

Government defeated in the Lords

http://www.bbc.co.uk/news/uk-politics-34631156

There was a lib dem peer on the TV this AM trying to justify how the Lords should vote down our elected representatives...this is the lib dems who have all of 8 MPS....

Graham_Devon

Moto2 wrote: »

Government defeated in the Lords

http://www.bbc.co.uk/news/uk-politics-34631156

I reckon this is one of the better things the lords have done...

The government has been dealt a major blow after the House of Lords voted to delay tax credit cuts and to compensate those affected in full.

Peers voted by 289 votes to 272 to provide full financial redress to the millions of recipients affected.

They earlier inflicted a second defeat by backing a pause until an independent study of the impact is carried out.