Tax Credits

Mistermeaner

I hope you have your tax credits withdrawn at some point in the near future

wotsthat

I've always thought we should get an annual summary of some sort which lists the benefits we received and the taxes paid. It's my view that people lack a bit of self awareness and there are a lot of rent seekers calling out other rent seekers.

I want to go through life paying as little in as possible and f reeloading on the back of others. If you can live frugally it's possible.

Most people don't want to do that and want to throw away money - £53 VAT on an iphone paid for from taxed income against the alternative of a £50 'phone and £800 in a pension - people aren't throwing money away because they feel it's a moral duty - it's because they're mugs

If I could say two words to them it would be thank you.

setmefree2

kinger101 wrote: »

An interesting article here in The Independent indicating that it appears to be more a case of acting as a subsidy for employers...

http://www.independent.co.uk/news/uk/politics/low-wages-force-britain-to-spend-900m-more-on-tax-credits-than-planned-9919035.html

Kind of makes sense. Why would I bother paying someone a decent wage when I know the Government will top it up?

We all heard lots of businesses protesting when the minimum wage was introduced, but it didn't lead to the widespread job losses they claimed.

Businesses will have to pass the extra costs of salary rises on as price increases - let's be honest we could do with a bit of inflation at the moment in the UK - so it's probably quite a good time to switch away from tax credits to a higher minimum wage.

setmefree2

Blue22 wrote: »

If they are currently claiming full WTC and CTC, how is he/she contributing anything? By my reckoning they are paying zero income tax yet claiming over 15K in CB and Tax Credits whilst also squirreling 60K into a pension fund. Please correct me if I'm wrong Michaels, but if I'm right I don't see that as something to be proud of

An example of why the tax credit system needs to be scrapped? My brother runs a business and he reckons his employees are up to all sorts with working tax credits.... anecdotal of course.

Funny how the labour party are always going on about businesses dodging tax but fail to mention how many are abusing the working tax credit system.

setmefree2

restless6 wrote: »

I don't understand why you would reduce hours and want to stay in the benefit trap rather than try and get out of it?

So your kids might get a few free dinners at school, but what about when those kids have grown up and left home. How are you going to live well on your low wage once the tax credits etc have all gone?

Indeed.

And who would want to let their kids suffer the indignity of free school meals if they didn't 100% have to. I would go through hell and high water not to do that to my kids.

wotsthat

setmefree2 wrote: »

And who would want to let their kids suffer the indignity of free school meals if they didn't 100% have to. I would go through hell and high water not to do that to my kids.

When I was getting free school meals in the early eighties we used to have to queue up in a different line. Like a scene from Oliver. There'd be human rights complaints if it happened today.

There isn't any indignity any more. Kids just swipe their smart cards and no alarms go off or anything.

setmefree2

wotsthat wrote: »

There isn't any indignity any more. Kids just swipe their smart cards and no alarms go off or anything.

Just the shame of knowing that your parents were too tight to buy you a school meal

Knowing your parents took meals for free, that they could easily afford, when that money could be spent on a book that a poor kid needed, what sort of example is that to set your kids?

setmefree2

Came across this old story.

Abuse of tax credits system has cost us £10billion, says IDS in blistering attack on Labour welfare policy

• The Work and Pensions Secretary said the system was wide open to abuse
• He said the scheme was a 'sorry story of dependency and fraud'

he said Labour had spent £171billion on tax credits between 2003 and 2010, contributing to a 60 per cent rise in the welfare bill.

http://www.dailymail.co.uk/news/article-2255138/Abuse-tax-credits-cost-10billion-says-IDS-blistering-attack-Labour-welfare-policy.html

http://www.telegraph.co.uk/news/politics/9772132/Britain-hit-by-10bn-tax-credit-fraudsters-claims-Duncan-Smith.html

http://www.independent.co.uk/news/uk/politics/iain-duncan-smith-launches-scathing-attack-on-tax-credit-abuse-8433854.html

wotsthat

setmefree2 wrote: »

Just the shame of knowing that your parents were too tight to buy you a school meal

I wish that's why I'd been in the free school meals queue.

setmefree2 wrote: »

Knowing your parents took meals for free, that they could easily afford, when that money could be spent on a book that a poor kid needed, what sort of example is that to set your kids?

Getting the same thing for less or nothing is an example I hope my kids have picked from me and the teachings of Martin :money:

setmefree2

wotsthat wrote: »

I wish that's why I'd been in the free school meals queue.

And I feel sorry for the little you.

wotsthat wrote: »

Getting the same thing for less or nothing is an example I hope my kids have picked from me and the teachings of Martin :money:

Sorry. Taking something from those who are needy and poor when you are not needy and poor is absolutely nothing to be proud off and in fact I find it quite repulsive behavior.