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Original poster

Income tax - top 45% rate scrapped! Bonkers!

1000 replies

HoppingKangaroo · 23/09/2022 12:29

The 45% top rate of tax (which currently applies on earnings above £150,000) will be scrapped entirely. How will this help the economy? It will just add to the government debt and it just helps out the very weathly.
Why not have more help for the poorest in the country and not have tax cuts for the very wealthy.

OP posts:
Thread gallery
6
Leilu · 23/09/2022 20:45

MongoOnlyPawnInGameOfLife · 23/09/2022 20:29

Well if you had you’d know full well that intelligence and work ethic are definitely not something that wealthy families pass down to their children.

Show quote history

You are claiming that intelligence is not hereditary, going against settled science?

Is this sort of ignorance normal for you?

Blibbleflibble · 23/09/2022 20:46

This reply has been deleted

Message deleted by MNHQ. Here's a link to our Talk Guidelines.

MrsBennetsPoorNerves · 23/09/2022 20:46

I still want to know why those supporting this budget think that Truss declined the offer from the OBR to produce a new forecast on the basis of this budget.

I'd also like to know whether they think the reaction of the markets was all part of the plan, and if so, how they think this will benefit the UK.

Luckydip1 · 23/09/2022 20:46

It seems that all the looney left on here are not interested in the country as a whole being successful.

poetryandwine · 23/09/2022 20:46

@Luckydip1 if this mini-budget is so great, how do you explain the reaction of the international markets and the fall of the pound? I have a STEM PhD and although I don’t personally exceed the £150K threshold, having chosen an academic pathway, I am confident that I can cope with any sophisticated explanation such a successful earner may offer - or indeed, be able to expose a spurious one.

Luckydip1 · 23/09/2022 20:47

@poetryandwine well most people would rather earn more and provide a better life for their families and children.

jgw1 · 23/09/2022 20:48

MrsBennetsPoorNerves · 23/09/2022 20:46

I still want to know why those supporting this budget think that Truss declined the offer from the OBR to produce a new forecast on the basis of this budget.

I'd also like to know whether they think the reaction of the markets was all part of the plan, and if so, how they think this will benefit the UK.

Its not important whether or not the budget benefits the UK. It is important whether or not the budget benefits those who have paid for Truss.

Probably not the same Russians who paid for Boris, but almost certainly some shady characters.

Luckydip1 · 23/09/2022 20:49

The markets will settle down once they realise the medium term prospects are much better now. It was the surprise they didn't like not the content.

jgw1 · 23/09/2022 20:49

Luckydip1 · 23/09/2022 20:46

It seems that all the looney left on here are not interested in the country as a whole being successful.

I have heard Truss' government called many things in the past 2 weeks, but loony left is a new one. Well done.

MrsBennetsPoorNerves · 23/09/2022 20:49

Kissingfrogs25 · 23/09/2022 20:08

Look I am going to level with you.

The conservatives are WELL aware of the number of bankers, finance, tech pros, and all the very best of this country in terms of creating wealth are now well and truly fed up with being shafted.
No, they are no prepared to prop up endless waves of furlough in all its different forms. They are not prepared to continue with 47% taxes and sky high stamp duties and all the rest. There are better deals to be had quite frankly almost anywhere else globally, and many are offering huge sums to attract relocations from London.

The conservatives understand precisely what is at stake here, hence the removal of Boris Johnson. As unsightly and unbecoming as it all was, it was better than the mass exodus that was coming next..

When are you leaving, then?

poetryandwine · 23/09/2022 20:50

The analytical brilliance!!!!
WTH does that have to do with the reaction of the markets and the fall of the pound? That was my question. These are impartial arbiters.

Leilu · 23/09/2022 20:50

MrsBennetsPoorNerves · 23/09/2022 20:32

Why the fuck would they ever work if 'every basic need is met'?

So you think it's OK for basic needs not to be met in one of the richest countries in the world? We are not talking about Sky TV here by the way. We are talking about basic needs.

Are you OK with children not having their basic needs met if their parents aren't earning enough? What about people with disabilities? What about unpaid carers?

If you just don't care, fair enough. You have a right not to care.

If a person who’s of sound mind and body is unable to provide for themselves and their children then they should be thoroughly ashamed. There is no excuse for it in the UK.

If a person is not of sound mind and body then the state should support them in any way that they need.

jgw1 · 23/09/2022 20:50

Luckydip1 · 23/09/2022 20:47

@poetryandwine well most people would rather earn more and provide a better life for their families and children.

Is that true?
Around where I live very many of us have chosen to earn less and have a much better quality of life as a result.

Blossomtoes · 23/09/2022 20:50

Luckydip1 · 23/09/2022 20:46

It seems that all the looney left on here are not interested in the country as a whole being successful.

Oh we are. That’s why we’re so horrified at watching it go down the pan. Seen what the IFS says about today’s debacle?

ifs.org.uk/articles/mini-budget-response

MongoOnlyPawnInGameOfLife · 23/09/2022 20:51

Luckydip1 · 23/09/2022 20:46

It seems that all the looney left on here are not interested in the country as a whole being successful.

If in doubt, start calling people names.

Luckydip1 · 23/09/2022 20:51

@jgw1 I doubt your kids will thank you for it when they need a deposit for a house, help with uni fees etc.

jgw1 · 23/09/2022 20:52

Leilu · 23/09/2022 20:50

If a person who’s of sound mind and body is unable to provide for themselves and their children then they should be thoroughly ashamed. There is no excuse for it in the UK.

If a person is not of sound mind and body then the state should support them in any way that they need.

Show quote history

Do we have to spend so much supporting Tory MPs because they are not sound in mind or body?

Blossomtoes · 23/09/2022 20:53

Luckydip1 · 23/09/2022 20:51

@jgw1 I doubt your kids will thank you for it when they need a deposit for a house, help with uni fees etc.

What happened to standing on your own feet?

BecauseICan22 · 23/09/2022 20:53

HoppingKangaroo · 23/09/2022 12:29

The 45% top rate of tax (which currently applies on earnings above £150,000) will be scrapped entirely. How will this help the economy? It will just add to the government debt and it just helps out the very weathly.
Why not have more help for the poorest in the country and not have tax cuts for the very wealthy.

We (DH and I) fall into this category and we will benefit financially at a time when we absolutely do not need it.

We are donating what we save because it sickens us that there are people without food, heat and shelter yet here we are.

Leilu · 23/09/2022 20:54

jgw1 · 23/09/2022 20:41

I'm glad we agree that Rees Mogg has moved some of his gambling business to Ireland. Why couldn't he just invest in European securities from Somerset?

Show quote history

We don’t agree, why the dishonesty?

And the funds operate in the EU as the EU regulators prefer this.

Why are you posing from a point of such ignorance?

jgw1 · 23/09/2022 20:54

Luckydip1 · 23/09/2022 20:51

@jgw1 I doubt your kids will thank you for it when they need a deposit for a house, help with uni fees etc.

They may or may not. But they will have benefitted hugely from having one or other of their parents pick them up from school each, who have spent time with them, talked with them, been on adventures with them. Which no amount of money could replace.

MongoOnlyPawnInGameOfLife · 23/09/2022 20:55

Leilu · 23/09/2022 20:45

You are claiming that intelligence is not hereditary, going against settled science?

Is this sort of ignorance normal for you?

Show quote history

Well I did go to public school and my parents are quite wealthy, so it’s more than possible.

red4321 · 23/09/2022 20:55

Every high earner I know pays tax via PAYE not through a limited company. That includes my colleagues in investment banking who earned six and seven figure bonuses. They paid the top rate of tax like everyone else.

jgw1 · 23/09/2022 20:56

Leilu · 23/09/2022 20:54

We don’t agree, why the dishonesty?

And the funds operate in the EU as the EU regulators prefer this.

Why are you posing from a point of such ignorance?

Show quote history

Oh, so are you saying now that Rees Mogg doesn't have a business in Ireland that moved their after Brexit?

Luckydip1 · 23/09/2022 20:56

We need to attract and retain the best talent to this country now that the muppets voted Brexit we have to make up for it. Taxing the hardest working and brightest people will stop people wanting to work here and they will go elsewhere.

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