To be pissed off at paying more tax evdn though it is 1.25 percent?

[Fancymice]

So I get paid 1430 a month, then
-76.40 income tax
-75. 96 national insurance
-36.40 pension

And then this new 1.25 percent health and social care levy will be by my calculation 17.88

Total deductions 206.63 so take home will be £1223

I know it's only £17, but It just feels like the cherry on top of a year of being financially pummelled. The price of everything is going through the roof, food, petrol, rent. A pay rise is out of the question "because of covid" and now I have to part with even more money for our shitty useless government to misnanage.

It isn't a 1.25% increase. It is a 1.25 percentage point increase. These are not the same thing.

Yeah so annoyed. Will go on maternity leave soon too and I’m saving and cutting pennies wherever I can. I just cancelled my Netflix for example which is £9.99 a month but I was thinking right but that’s a tenner a month being saved… then this ☹️

It's disgusting.

Another MNer said on a separate thread quite eloquently: "You're paying for the privilege of allowing others to pass on their wealth to their children".

@NotPersephone

I personally think the £100k+ a year earners need to pay alot more tax

We already pay a third of all IT. There are not enough of us - that’s the problem.

Also agree with this!

We need to tax wealth, not automatically resort to taxing income. Only 5% of the population earn more than £80k a year.

What concerns me is many of us will be expected to take a pay cut on top to cover our employer's contribution amount. I work for a not for profit so there is no magic money tree!

I personally think the £100k+ a year earners need to pay alot more tax

I don't earn £100k, but on what I do earn I pay close to ten times more income tax than someone on full time national minimum wage, and over five times more in national insurance contributions, so if someone is on £100k, I think they're probably already paying their "fair share" for a functioning society. They don't get 10x of the facilities everyone else gets, and they won't be getting 5x better old age care at the end of their NI payments.

@nc8765

It's disgusting.

Another MNer said on a separate thread quite eloquently: "You're paying for the privilege of allowing others to pass on their wealth to their children".

I see where this is coming from and to an extent I agree with it but just to play devil’s advocate…… If people fear losing all of their stored wealth, won’t more and more simply spend all their money, give it to their dependants during their lifetime etc and leave the taxpayers to collect the entire bill? If enough do that, the state burden becomes even higher. Giving people an incentive to save should overall decrease the cost to the nation as a whole

They money needs to be found and I think it’s fair that everyone shoulders the burden. Am I looking forward to having less take home pay…no, of course not. I’m sure nobody’s jumping for joy, but that’s life.

Doesn’t matter to me personally how they do the tax, as I’d be liable for it whichever way (which is fair enough). But I do think that all income should be taxed more equally.

E.g. if someone has £30k income, they should be getting the same net amount regardless of where it comes from, how they’re paid or how old they are. Doesn’t seem fair otherwise.

@OP I'm not being funny but what is your annual wage 15/16k , take away your tax free allowance of 12k...kind of means your not exactly putting in much to be honest?? Do you have dc? Do you use the local hospital/gp? You are at a negative...I presume...meaning you more than likely already take out more than you put in?!

Yes, the taxes in this country are very high. We should not have to pay a penny more. We will never catch up because hundreds arrives everyday. Some will never work and will use the NHS, schools, housing, etc… There is not plan and is unsustainable. They get here poor and most stay even poorer. Money given for benefits is never enough and taxpayers carry the burden.

Yes I am pissed off but suppose there is little I can do about it apart from going self employed again and taking advantage of the (now reduced) tax benefits. It f&cks me off I take little out of the system but pay a hell of a lot of tax, especially when I read about lazy people who sit on their arses and take, take, take (rant over!)

Hmm I read that the average stay in a care home is roughly 2 years and costs are around the £900 a week mark
IF (and it’s quite a big if, cos I googled it lol) that’s right, then the vast majority would cover almost all of their care costs themselves, just as they do now?
So if that were true, then the extra funding could be for improvements to care and to plug the gaps in the system. Although with the way it will likely be implemented, it will be pissed away on cronies and profits to private companies.
Which means both the younger taxpayers and the older home owners are screwed over, whilst profits go up and services remain woefully inadequate, all hidden under the common tactic of pitting generations against each other to deflect from the truth.
Yes, that must be it………it’s the perfect Tory plan

@SamWidges

How about removing the cap on incomes over 50k? Currently, people earning this only pay 2% NI on their income over 50k. Remove the cap then they will pay the full amount of 12% on their salary, like the vast majority of us (earning less than 50k) do.

Surely, if you earn 50k plus you are even more able to pay this? Fairer to ask people to pay according to their ability to pay.

You are still paying it, it is just labelled higher rate income tax.

Below 50k - 20% income tax + 12% NI = 32% tax rate
Above 50k - 40% income tax + 2% NI = 42% tax rate

@SweetPetrichor

They money needs to be found and I think it’s fair that everyone shoulders the burden. Am I looking forward to having less take home pay…no, of course not. I’m sure nobody’s jumping for joy, but that’s life.

There's an old picture around that is actually about feminism. People looking over a wall. In one image, everyone gets the same box and the inequality doesn't change. In one image, people get different sized boxes, the tallest getting the smallest box, then everyone is level and can see over the wall.

Taxation should work in a similar fashion, some have more, so pay more, some have less so pay less, so we all end up seeing over the wall.

It leaves a bitter taste hearing those with far more than they need demanding they get taxed the same as someone who doesn't have everything they need.

[quote wedwewerpink]@OP I'm not being funny but what is your annual wage 15/16k , take away your tax free allowance of 12k...kind of means your not exactly putting in much to be honest?? Do you have dc? Do you use the local hospital/gp? You are at a negative...I presume...meaning you more than likely already take out more than you put in?![/quote]
I don't have children.

Also, I earn a pretty much standard wage for retail. You go shopping I assume?

The fact wages are pitiful in this country is a whole extra discussion.

@Islamorada

Yes, the taxes in this country are very high. We should not have to pay a penny more. We will never catch up because hundreds arrives everyday. Some will never work and will use the NHS, schools, housing, etc… There is not plan and is unsustainable. They get here poor and most stay even poorer. Money given for benefits is never enough and taxpayers carry the burden.

Taxes are not high

The utter CF icing on the cake is of the £1223 you keep, 20% of that will go on VAT so you really get £978.40
The U.K is one of the highest taxed places IN THE WORLD

all DynamoKev they are not only higher than in many other countries l in other countries citizens in those countries get a lot more for what they contribute. Pension is the lowest at 23% of final salary. It is a joke

Raising National Insurance is a deliberate act by a Conservative government to pile this (necessary) need for tax increases onto working people rather than the comfortable retirees who are more likely to vote for them.

I don't appreciate the way the government gives away our cash to various countries and then just tells us WE have to give them more.
Stop giving it away FFS !
If I was in charge there'd be some changes I can tell you !!! ( lol no chance of that happening, I'm far to busy this week!)

@Fancymice I agree the wages are pitiful but Still the fact of the matter is you actually do pay very little in taxes.

@AdmiralCain

The utter CF icing on the cake is of the £1223 you keep, 20% of that will go on VAT so you really get £978.40 The U.K is one of the highest taxed places IN THE WORLD

The UK is taxed well below the European average en.wikipedia.org/wiki/List_of_countries_by_tax_revenue_to_GDP_ratio