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

Thrugelmir

scaredofdebt wrote: »

Look at UK wages vs G7 wages since 2008. UK wages are 10-15% below where they should be, due to austerity. Diane Abbott? Really.

What's the correlation between the the UK and the other members of the G7?

Why should they be 10-15% higher. What's the basis of your assertion.

Herzlos

swindiff wrote: »

Asda's staff hourly rate actually increased not reduced when they were moved onto the new contract.

You're right, it only really seems to be a cut for the night shift staff who are losing out on 3 hours a night worth of overtime pay. There's also some loss from all breaks becoming unpaid, losing bank holiday pay and the flexibility which will hurt staff with commitments.



The staff themselves certainly seem to feel like they are being shafted.

swindiff

Some staff feel like they are being shafted. I know some who were happy with the changes and the increased hourly rate. As the saying goes you will never please all of the people all of the time.

Gycraig

Thrugelmir wrote: »

You seem to know little about employment law in that case.

As someone who’s had a 0 hours agency job. Basic reality was come in with no notice work as many hours as we ask you and ignore basic employment law. If you don’t we will get someone who will.

Anyone who complained about anything would be put to bottom of pile and only called when desperate. Even if complain was completely justified

Herzlos

Gycraig wrote: »

As someone who’s had a 0 hours agency job. Basic reality was come in with no notice work as many hours as we ask you and ignore basic employment law. If you don’t we will get someone who will.

Anyone who complained about anything would be put to bottom of pile and only called when desperate. Even if complain was completely justified

That was my experience of it as well (I did bars, waiting, etc). Turn down that crap shift they can't get anyone else to do? Good luck getting any shifts for a few weeks.

gozaimasu

westernpromise wrote: »

Basically, everyone will get robbed apart from "the rich" who in many cases can just leave. This means all the taxes will fall on whoever's left. At this point it will become rather painful because the top 1% of taxpayers earn 14% of the money but pay about 30% of the income tax. When that 30% disappears it's going to have to come from someone else.

Income tax and national insurance are about a third of the taxes the state raises. A third of that comes from the 1% so about 10% of the state's revenue, call it £80 billion, comes from that handful. They'll all be gone, so that's another £400 billion to find. So we're up at around £1.2 trillion that will have to be found.

Where did you get your figures from? I've been using this IFS source from 2017. Is there something more up-to-date?


40% all UK tax from Income Tax and NICs.

25% from VAT/duties on alcohol etc


40% of all adults in UK don't pay Income Tax
Top 10% of earners (>£50k/pa) pay 60% of all Income Tax
Top 1% of earners (>£160k/pa) pay 25% of all Income Tax

gozaimasu

I found a video from April 2019 that says the top 2% of incomes is £80k+ at approx 15:40.

Very long video, but I find the IFS stuff very interesting.

28% of Income Tax revenues from top 1% of taxpayers. In 2017, Labour proposed extending the 45% income tax rate to include £80k+ salaries, which would be top 2% of adults in UK. New 50p rate above £122+ affecting the top 1%.

IFS says that Labour manifestos are very optimistic.

We're relying on such a small group of people that we in England we might not raise as much tax as expected, especially if those people leave the country.

10% residue lost if fewer than 20 people (in Scotland, where higher rate is 41%) relocate to somewhere else in UK.

gozaimasu

Are the rich paying their fair share of tax?


Top 10% of all households pay 30% of ALL tax.

GreatApe

Herzlos wrote: »

That was my experience of it as well (I did bars, waiting, etc). Turn down that crap shift they can't get anyone else to do? Good luck getting any shifts for a few weeks.

This is the reality of work at the bottom but not a huge % work at the bottom and it's disproportionately young people and migrants. It's also been reality for all of living memory it's not new

In some ways it's good in that it stops people being hooked into a low wage dead end job

I don't think these types of jobs can or should be regulated away
But I do think minimum wage should be higher
Perhaps even as high as £12/PH

GreatApe

gozaimasu wrote: »

Are the rich paying their fair share of tax?.

'fair share' is a silly nonsencial phrase with no right answer

Personally I think there should be just one income tax rate of 40% and one NI rate of 12% for everyone from £0 up

There should however be a £20k tax free allowance for everyone for income tax and a £10k allowance for everyone for NI

We would effectively have a flat rate tax for everyone the same 40% income tax and 12% NI and no one needs to complain because everyone pays the same rate and gets the same allowance

Of course the effective rate for the poorer would be much less because.of their free allowance
Someone earning £20k would only pay £1.2k in tax so effectively just a 6% tax rate
Someone earning £40k would pay effectively 29% tax rate
Someone earning £100k would effectively pay 42.8%
Someone earning £1M would effectively pay 51.1%

Also employers NI should be a flat rate for everyone from £0 up otherwise it's a silly incentive to only hire low productivity part time workers and often churn them around