To think that taxing high earners even more would actually be a bit unfair?

[bubbleymummy]

I hear this suggested a lot on mumsnet and I really disagree with it. High earners are paying a huge contribution in tax already - thousands and sometimes 10s of thousands more than a lot of people who are clamouring for them to be taxed even more! Why should they be punished for having a highly paid job? How would you like handing nearly half your income over to the government? I think we should be thankful that we do have high earners who are already making a significant contribution. We would be a lot worse off if we drove them away with higher taxes!

If they all piss off to whereever I can have one of their big houses, so I'm pro that.

not an economist

Anyway, it's not a punishment. What's punishing is being disabled and unable to work and living in a tiny mouldy flat. I think high earners should be thankful they can work, thankful they have jobs and thankful that they are being paid so much before they start whining about tax.

I didn't know bolding worked like that, I thought it was per word. Oops!

Thank you bubbley. I appreciate that

According to the government I am rich. Its not my definition of rich but I'm apparently rich enough to pay significantly more tax, NIC, not have child benefit, tax credits or anything else.

Before I get flamed I am not saying I'm poor. We are comfortable but rich to me is not having to worry about money and that doesn't apply. Plus other cuts mean that DH will probably not be disabled enough under the new rules to receive his help.

How would you define 'rich', the word used to describe high-rate taxpayers?

Ooh a biscuit. Yum! :) I'm actually serious though.

Whet are we defining as high?

i do't know enough about it really, how high is high? is there a sliding scale or are you earning 40,000 one day and paying 15% tax then get a pay rise and earn 45,000 and then pay 50% tax? (for example)

You're welcome mercedes. :)

Rina, what do you class as a high earner because I know plenty of people who fall into that bracket and don't have huge houses etc. They have mortgages, expenses and work bloody hard just like many non - high earners do but they pay a lot in tax and they don't get any thanks for it! Instead people who are contributing 5k are shouting for them to pay more than the 20k+ they are already paying!

From April you pay 40% tax on anything over 42k (was 45k). You also pay an extra 1p on NIC.

Sounds a lot, yes. But compared to a two-earning household earning the same gross wage together I pay a lot more tax and NI. And I still have to pay childcare to work (DH is disabled and can't work).

So there are people out there with money to burn but it ain't us and it probably isn't a lot of higher rate tax payers either. I think its unfair we're all lumped in together and seen as a cash cow to get the UK out of its problems.

Rant over...

Current income tax levels are 20% up to £37,400pa, 40% up to £150,000pa and then 50% above £150,000. As of April, people will hit 40% tax on anything about £35,000. I think it's something of a disincentive to earn more.

You are going to get answers from lots of people who have this awful sense of entitlement that has flooded this country since labour started throwing money out to every family earning below 40k.

Feel lucky that you have managed to get a good job by working your bollocks off and putting yourself through 6th form and uni by getting a part time job none of this EMA crap around in our day.

Feel lucky - not sure either myself or DH feels lucky - we feel fucking tired a lot from how hard we work but not lucky, neither of us have got where we are financially through luck, sweat and hours and hours of work but no luck - both had normal educations - like everyone else is entitled to in this country so no luck there - both worked through higher education - so no EMA or luck there

FFS!

I must admit my annual pay is £45K so i work part time to keep under the threshold

Oh and we get feck all tax allowance too!

They tax high earners on every bloody penny they earn!

Tbh if you tax more then higher earners in some fields will just go abroad. The increased tax and removal of allowances and pension relief will hit us very badly. We have decided to jump ship when youngest leaves home in 5 years.

It is to be honest unfair it's not high earners fault (at least most) that we are in this predicament and pretty much all of them have worked extremely hard to get up there.

i agree about it being a disincentive to earn and that it may result in people not going for promotions etc. i also think that although £35 000 is a lot of money, to lose 40% on tax seems a huge drop

Well the difference is high earners have greater movability and they can always jump ship if they feel they are being penalised for earning to much then the UK would lose out anyway.

Imarriedafrog - No, I am planning to just like take it. You know, once they have set off for wherever they are going. It would be best if they left their furniture but I wouldn't complain either way.

I am aware that in reality I would actually have to buy it but I'm also aware that there probably wouldn't be a mass exodus of rich people if taxation went up.

bubbleymummy - Are their houses more than 2 rooms and a bathroom? More than 380 square feet? Then it's a huge house and they should be damn grateful. Of course they have mortgages. They should be grateful for that, too. I don't have a mortgage and I won't be able to get one for a long time. My partner is self-employed and works from home to be able to care for me. I'd love to be able to get a big mortgage, I really would.

And your whole idea of poor people, that they're people who pay only 5k in tax. We don't EARN 5k. You have no idea. I mean, what are you doing with this 5k, 10k that you're worried about? Are you living off it? In a way I'm glad you're talking such rubbish because I'm not a nasty person and I'm happy that some people have big heated homes to enjoy, that they can go out to work and feel useful.

Sorry I should probably define 'high earner'! :) Those in the higher tax bracket of 40% which is now people who earn over 37.5k. There is a new 50% tax for those earning over 150k. Which i think is perfectly acceptable!

I didn't think this thread was about disability I thought it was about taxation?

I am being repeatedly asked to go to full time at wor but frankly Id rather do fewer days and sit under the threshold.

Are you bleating high-earners all aware that the suggestion to tax higher earners more actually applies to those earning much more, ie those on more that 150k? Not those on 40k. Check out the plans properly before you start moaning.

OTOH there is something to be said for the Swedish and Danish systems which tax everybody more. They get more and better services 'for free'. Why are you all so afraid of tax? I never begrudge paying it as it's part of being a good citizen (which I guess you ain't).