How are you planning to vote if you earn over £80,000

[howtovote]

Just wondering the above really.
I can't stand the conservatives and always assumed I would vote Labour in this election, however with the tax increase over £80k I feel I'd be shooting myself in the foot a bit.
What do others think?

Reds - I didn't say vote Tory. I pointed out the economic problems we will face under Labour's plans...... actually I regurgitated the independent Institute of Fiscal Studies. If you want all the bankers, earning over £80,000 to leave the country, who is going to pay for Labour's spending plans? Who is going to generate all that corporation tax labour need to pay for their plans?

Last week the independent ONS did an analysis showing London, the SE and E subsidises the rest of the country - they run a surplus to the rest of the country's deficit. This is how a currency union works. Damage the surplus producing area and we are all poorer.

Which party has policies to tackle the real long term problem we have of the North/South divide and intergenerational inequality?

Two, my thoughts exactly.

DH has just voted labour, think I will too (I earn £0 though).

Plenty of people are finding your posts offensive to proud

Proud what do you specifically hate about poor people, disabled people, the young, the old, the vulnerable, foxes, people from other countries, the police force, firefighters, nurses, teachers, young doctors, ambulance drivers?

Your proud of being a conservative so I'm sure youll be happy to grace us with your opinion, I'll tug my forelock if that helps?

*too

Yes but a least Labour have a broad costing for their plans. The Tories...nothing. I think banking could do with some new blood. If you want to quote the independent Institute of Fiscal Studies their reports on education and health were pretty damming to the Conservatives.

Proud you could have responded with an argument as to why you're not unkind and why the country should be in the hands of people like you. Instead you called her a useless twat and implied she was uneducated and dumb.

The idea of being a reasonable person means you use your intelligence to avoid insult.

Are you always this lacking in self-awareness? 😂

redsrule banking won't get new blood. They will leave and set up elsewhere. Up until now we have been the investment banking hub for Europe. With brexit we are no long as competitive, with tax rises we are even less so. There is nowhere else in Europe that has an investment banking sector like ours. Paris and Germany would welcome them with open arms.

Bankers leaving will mean millions in lost tax revenue and a fall in our economy. All of this impacts everyone.

I dispair when people say good riddance bankers. We are a much richer country with them in than without.

It has to come down to schools and the NHS ultimately doesn't it? I mean, they're the two core issues that matter more than anything else surely?? And even if you opt to go private, you need to live in a society that does its best for the remaining 93 percent of families who use the state education system and the huge majority (don't know the figure) who rely on the NHS?? Surely??????

Sheepskin you can reduce your salary without reducing your hours. Both DH and I make pension contributions via salary sacrifice. DH is on just over 80k so will increase his pension contributions to bring him below the 80k. So he will lose out in salary each month but still retains it as deferred income in his pension fund.

Reds- I know they were damning of both parties. The Tories don't have spending plans as such to pull apart. Their manifesto was do nothing while we negotiate Brexit. Still plenty to question though.

Labour may have broad costings but the scale of their changes (when they will need to focus on Brexit, the biggest single issue our country faces in the next 5 years - get that wrong and it's a total disaster) means errors in costing have a huge impact on us all. They are starting with a £9bn hole (£40 bn tax revenue vs £49 bn assumed, according to IFS) and over time that grows as behaviour of people and businesses changes.

How is all the renationalisation going to be paid for especially if interest rates rise ?

Lokisglowstickofdestiny Makes total sense to do that now and not just wait for a tax increase. If you can afford to save more for the future that's exactly what you should do. Messing around at the margins of just over £80K is not really going to make a massive difference to the country in terms of tax receipts. Dh has reached the limit on his pension - he no longer receives benefits from adding to his pension in fact it costs him more in tax to add to his pension - not that I'm complaining, just saying that we can't avoid paying tax the over £80k tax by paying into our pension.

I think people who are connected with banking have little understanding of the anger felt by tax payers who had to bail them out from the dreadful impact of the crash. As a public sector worker who has had effectively a pay cut year on year since the banking crash I do not feel they deserve to be valued.

Oh, here we go.. someone from the inefficient and bloated UK public sector bitching and moaning about the industry which is BY FAR the biggest contributor to the exchequer.

Oh so here we go, blame the public sector for the private sector mistakes, yet now the bonuses have returned the public sector are still experiencing pay restraint. I work in one of the top secondary schools in the country so don't call me inefficient. Rather, why should my tax allow state rescued banks give huge bonuses? NHS, fine, Defence, fine, the banking industry, no, all take no give.

I think many people don't trust Corbyn's Labour to spend their taxes well.

Nevertheless, many of us will vote that way and hope for the best. Because the alternative is now looking horrendous for our NHS, schools and police.

Its going to be very interesting - and like Brexit - I do think the biggest divide will not be income but age - with older voters voting Cons and younger voters not.

I have been a labour member for years but can't vote for them in this election. I think there is something dishonest about the manifesto - the promises of increased funding just don't add up if they are only going to increase taxes for people earning over £80k. If we want a properly funded NHS, education etc then we all need to pay for them - including increasing inheritance tax, increasing tax paid by everybody over about £40k, and - yes - having schemes where people have to contribute for their own care out of their very large property assets (not that I completely agree with the way the Conservatives have dealt with this, but at least they are trying to tackle the huge social care crisis we are about to have). I am also quite resentful at having paid essentially an additional 10% on my earnings for 10 years to pay back tuition fees and interest, only to be told that I now have to pay for everybody from now on to go to university for free. There are many better ways to spend that money as a society.

Basically I am fed up at only taxing income and not wealth. I can't afford a flat of my own and am angry that Corbyn is calling it "an attack on pensioners" to remove universal benefits from people who have far higher assets and (often) disposable income than I do. I am angry that he is calling himself "not rich" when he has a house worth far more than I'll ever own. I am angry at friends who work half the hours that I do, while living in flats paid for out of an inheritance, who seem to think that I should pay more tax but they should be able to inherit tax free.

So I still believe in most of labour's aims. I fundamentally believe in supporting everybody in society and levelling the playing field as much as possible. I am happy to pay more tax. I just find it incredibly hypocritical for asset-rich labour MPs and supporters to think that I should shoulder that burden while they contribute not a penny more.

I think I'll be voting Green. I don't agree with many of their policies, but I think it's the best protest vote I can do where I live.

Basically I am fed up at only taxing income and not wealth. I can't afford a flat of my own and am angry that Corbyn is calling it "an attack on pensioners" to remove universal benefits from people who have far higher assets and (often) disposable income than I do. I am angry that he is calling himself "not rich" when he has a house worth far more than I'll ever own. I am angry at friends who work half the hours that I do, while living in flats paid for out of an inheritance, who seem to think that I should pay more tax but they should be able to inherit tax free.

I agree with that too.

I used to earn over £80k. I don't anymore.

I have always voted Labour or Lib Dem and will continue to do so.

I would happily pay more tax now and then if it went to help people less fortunate than myself.

At no point did I think "Oh, I'm doing ok for myself, better pull up the ladder and fuck everyone else". I'm not cunty, you see.

I'm a public sector worker Reds......but I don't see it as a public v private sector thing. At the current time we need rich bankers and banks paying tax more than ever. As I've said I think the income tax rise is less important than the changes to business tax. Everyone can come on here and say I don't mind paying a bit more, but if the business environment means the company they work for downsizes, moves or cuts their hours, we will all suffer......the economy will shrink and there will be less money for public services.

We need the bankers and the service industries because we have no manufacturing left.

If we chase th m away we'll lose thousands of jobs and billions in tax revenues.

Two4One - I agree. I am already seeing businesses putting off mergers and moving operations out of the UK because of Brexit. This is a time when we need to incentivise businesses to stay, not give them another reason to leave. My biggest worry is for businesses such as tech companies which are very mobile, employ people from around the world, and won't hesitate to relocate if they need to. It's so sad because they are exactly the kind of businesses we need here to create jobs and inspire people to emulate that entrepreneurship.

Having said that, I do think that Brexit is going to be by far the main driver of businesses relocating, and I am not sure that even lowering taxes would prevent significant numbers leaving the UK.

I realise that that latter fact would rule "people like me" out of being in the Labour Party.

That tired old trope

You are thoroughly unpleasant proud but tbh thats what a lot of you are like isnt it (sweeping generalisation achieved) burned any £20's in the face of homeless people yet, I think its a tory hobby

Just, is there really any need for this?