I’m going to bite, even though this thread is pages long and no one will read it.
I’m a high earner. I pay an insane amount of tax. There’s no point me overpaying into my pension because the tapered allowance means I get taxed on most contributions.
I’m not from a wealthy background, but I have always worked extremely hard. I don’t know how long my high salary will continue and I can’t rely on it doing so because often high salaries come with high risk.
I am trying to build wealth and security but being taxed so punitively makes me think “what is the point of working so hard”.
I know that many people do work hard. I do. But I also know that many people have work life balance, don’t answer emails and calls whilst on holiday, and have hobbies. I do not.
I am on call and working 8:30am - 10:45pm Monday-Friday, and on call every weekend. I get home, have dinner, work some more. I work through my holidays and have never not taken my laptop. I don’t put an out of office on. I have dictated work emails for my husband to write whilst I’ve been driving and also in Resus having a miscarriage. I have answered emails whilst in labour. I’m currently on “‘maternity leave” with a ten week old baby. I answered the work messages whilst in labour and immediately after. I have a nanny looking after her two mornings a week so I can keep work going. I haven’t watched a single box set. I haven’t done a single coffee shop trip with my baby.
When not on “maternity” I don’t see friends during the week because I kept having to cancel. And that has been true for ten years whilst I have been trying to build, create, and deliver. I do not have hobbies other than the occasional swim or exercise class.
But what is the point of all of this, taking on personal financial risk, health risks, and taking on the burden of being an employer and trying to do a good job of it, if the benefit is taxed off me so that I am taken down to the level of struggling.
Rather than strip higher earners of their salaries, maybe the government could show a little gratitude to those individuals in business who make immense personal sacrifices and pay for running this country.