Question time man top 5 percent.

[refraction]

Did anyone see the man on QT asking about tax?

Apparently he doesn't even think he is in the top 50 percent of earners.

All doctors earn more apparently and solicitors.

How out of touch with reality?

He didn't come across well and very out of touch.

consider that perhaps they just have expensive tastes and habits?

Like paying £1500/month to nursery so they can work?

I expect the difficulty would be saving the deposit.

You can easily service a £500k mortgage on £80k. Are you seriously saying there are no two bed properties in London for half a million?

Did you forget the whole "deposit" bit?

So just plugged £80k into moneysavingexpert mortgage calculator and came up with £260,000 - £360,000 - can't imagine you'd feel too rich house shopping in London on that budget! This is not about surviving - this is about people saying you should feel rich!

Like paying £1500/month to nursery so they can work?

I don't agree with using the childcare argument. It's a temporary and expected expense, it is NOT equivalent to a permanently low income. Affording full time childcare for for 2 children is out of reach for a lot of people, and while it might not be a 'taste or habit', it is a choice. One that will only last a few years, then your back to having the money in your pocket, which isn't far off the average take home pay!

@whopiedo don’t you think local people like you describe exist in Manhattan?

Did you forget the whole "deposit" bit? Sorry you're so right - saving between £140k - 240k would be really easy because you are rich renting in London, on your £80k a year.

These last few pages are ridiculous. As has already been established, you don’t need to live in London to earn £80k. It’s not common to buy a house alone anyway (and I say that, as someone who did so- it’s unusual and only obtainable because of my unusual highly income- of £80k)

Were you able to buy recently in London passthecherrycoke?

Affording full time childcare for for 2 children is out of reach for a lot of people

£1500 was what we paid for one child, four days per week. Not two, not full time.

Jacob if you read back you’ll see the answer to that...

And besides which- how does that relate to my post, which stated you don’t need to live in london to earn £80k?

Well if you want to become really poor vote JC in, he’s selling it only hitting the top % when anyone with a half a brain knows, Council tax is guaranteed to take a massive hike up, fuel prices will instantly go up come budget day, your employer will pass the tax increase they have to pay into no pay rises for their bottom tier employees.

And JC has the sheer audacity to say it won’t hit the working class, hypocrite

The man who is claiming to only earn £80k a year is Rob Barber, he is an IT specialist & Bike racer for his father's team. Yes he may only earn £80k from his employment but he will earn probably double that from sponsorship & prize money from bike racing. The money from bike racing can be manipulated by accountants to pay as little tax as possible.

These last few pages are ridiculous. As has already been established Shut down the debate - someone has declared the truth! No need for any further comment. Brilliant.

don’t you think local people like you describe exist in Manhattan?

I'm sure they do but are you saying it's not got harder to buy houses for younger generations?

Logjam you clearly know nothing about either living in London or earning£80k so not quite sure why anyone should take your posts as fact

Of course not wopiedo. I don’t think anyone has said anything of the sort?

£1500 was what we paid for one child, four days per week. Not two, not full time.

Ah my mistake, apologies. Is this London/SE again by any chance? Nurseries are £45 per day where we are.

I still maintain my argument though that this is a temporary expense and not an unexpected one. It's not the same as someone who is permanently taking home £1500 less than you every month.

Also agree with a PP that it's pointless having a thread that is so London-centric. Of course you can pick out ludicrously expensive examples in London and the surrounds. This is not the norm for most people, nor indeed the man who made the comment that this thread was made about.

I think wages have gone down and stagnated People are having to do more for a smaller wage
Where I live jobs in the papers are mainly minimum wage or a bit above . Those with degrees are under 20k no wonder no one can afford to buy a house
I think the government & many MPs are so out of touch it’s laughable and very offensive given the comments by the likes of Johnny mercer about nurses being overpaid

@PassthecherrycokeLogjam you clearly know nothing about either living in London or earning£80k all knowing one - why would you assume that?

What frustrates me is that there is huge generational inequality. The older generations are much more likely to own their own home, plus another & have benefited from huge price increases. A 30 yr old today is much less likely to own 1 home.

80k is a high salary but it's doesn't necessarily make you rich. Someone who's mortgage free, with a holiday home & a 30k pension is wealthier than someone younger earning more.

It would be interesting to know what the salary is for top 4%, top 3%, top 2% and so in. The increments between those must be pretty big. So whilst there is more debate around the £80k mark, should it be more directed at the higher amounts.

Logjam you clearly know nothing about either living in London or earning£80k all knowing one - why would you assume that?*

It might be something to do with the nonsense you’re posting. Just a guess.

Because you’re full of crap and can’t follow simply posts