Labour's £113,000 tax rise for people on £80k

westernpromise

Labour's latest pledge on restoring pension inequality in women's favour takes their spending commitments to £733 billion for the next parliament.

With characteristic 100% truthfulness that you can take to the bank they've assured us nobody's tax will rise unless you're in the top 5%.

There are 1.3 million who are, starting with people on £80k a year (Labour MPs earn £79k). So that works out at £113,000 in tax per year per member of the 5%.

Now that's what a call a responsible, thoughtfully-costed plan for government. I'll be voting Labour!

John_Smith_2019

If anyone is truly concerned about Labour winning an outright majority, they should put a bet on it.
Because you'll get very good odds.

Aegis

westernpromise wrote: »

Labour's latest pledge on restoring pension inequality in women's favour takes their spending commitments to £733 billion for the next parliament.

With characteristic 100% truthfulness that you can take to the bank they've assured us nobody's tax will rise unless you're in the top 5%.

There are 1.3 million who are, starting with people on £80k a year (Labour MPs earn £79k). So that works out at £113,000 in tax per year per member of the 5%.

Now that's what a call a responsible, thoughtfully-costed plan for government. I'll be voting Labour!

Are you essentially making the claim that Labour's plan is to fund all of their spending pledges from the increase in income tax on higher earners (rather than, say, increasing CGT, reforming IHT, adjusting VAT, etc)? I'm not sure I've seen that claimed by them, so I'd love to know where you got that information.

John_Smith_2019

Aegis wrote: »

Are you essentially making the claim that Labour's plan is to fund all of their spending pledges from the increase in income tax on higher earners (rather than, say, increasing CGT, reforming IHT, adjusting VAT, etc)? I'm not sure I've seen that claimed by them, so I'd love to know where you got that information.

Whichever party wins, most of the spending will come from QE / MMT.
This has been made perfectly clear.

I'm going to buy a wheelbarrow.

Cakeguts

Whatever the numbers are you can guarantee that it will be higher than a Labour politician earns.

M0ney

westernpromise wrote: »

Labour's latest pledge on restoring pension inequality in women's favour takes their spending commitments to £733 billion for the next parliament.

With characteristic 100% truthfulness that you can take to the bank they've assured us nobody's tax will rise unless you're in the top 5%.

There are 1.3 million who are, starting with people on £80k a year (Labour MPs earn £79k). So that works out at £113,000 in tax per year per member of the 5%.

Now that's what a call a responsible, thoughtfully-costed plan for government. I'll be voting Labour!

I think you've forgotten about their commitment to end the industrial scale tax avoidance by companies like Amazon, Google and others. The monies involved there are in the tens of billions every year.

M0ney

Cakeguts wrote: »

Whatever the numbers are you can guarantee that it will be higher than a Labour politician earns.

Jeremy Corbyn earns a lot more than this £80k threshold.

John_Smith_2019

M0ney wrote: »

I think you've forgotten about their commitment to end the industrial scale tax avoidance by companies like Amazon, Google and others. The monies involved there are in the tens of billions every year.

This is actually what I find interesting.
How can a UK govt tax a company like Facebook?
If the company is based abroad and has no assets in the UK.
If its entire business activity is based on offering access to a website, it has no money coming through UK banks, etc?

The only options I can see are putting sanctions on the company.
ie No UK business or public body is allowed to use it. The UK govt probably couldn't stop the public visiting the website.

SpiderLegs

M0ney wrote: »

I think you've forgotten about their commitment to end the industrial scale tax avoidance by companies like Amazon, Google and others. The monies involved there are in the tens of billions every year.

No I think we all remember that commitment perfectly.

It’s like my commitment to become world scrabble champion by 2020.

Zero_Sum

John_Smith_2019 wrote: »

This is actually what I find interesting.
How can a UK govt tax a company like Facebook?
If the company is based abroad and has no assets in the UK.
If its entire business activity is based on offering access to a website, it has no money coming through UK banks, etc?

The only options I can see are putting sanctions on the company.
ie No UK business or public body is allowed to use it. The UK govt probably couldn't stop the public visiting the website.

Im sure there will be of blocking their adverts in the UK so that theyd make no money inless they cough up

John_Smith_2019

Zero_Sum wrote: »

Im sure there will be of blocking their adverts in the UK so that theyd make no money inless they cough up

Or the govt could just prohibit any UK registered companies from advertising on Facebook etc.

Obviously this is all nonsense as politicians are constantly using Facebook and Twitter themselves.

I genuinely can't ever remember a general election where so much dishonest nonsense was spouted. It has become ridiculous. But there are some people who actually believe it all.