Why wasn't 40pc rate reduced or income tax thresholds raised?

[Indigoo03]

Any opinions?

Here’s the data. As it shows, the median household income rises several thousand pounds due to taxes and benefits.

www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/bulletins/theeffectsoftaxesandbenefitsonhouseholdincome/financialyearending2021

I am talking about the % increase in take home pay. The increase £ of take home pay for someone on £20,000 is under £200.

You are talking about % change in tax rates in a way that is really not that useful, whilst your maths is correct.

The choice of tax change is deliberately regressive.

Aargh

IFS analysis suggesting all those earning less than 155 K will be worse off...

(MN didn't like my less-than sign)

Which is fine, but you can’t then expect them to feel any sympathy for you either or to be happy subsidising you.

Has this had pensions stripped out or not?

Most people go at the benefits bill but then once pensions are removed it is <meh>.

I don’t agree, and fortunately neither does the government.

Yes - and even WORSE now that the £ has dropped because every fucking thing we import (all the luxuries like flour, petrol, and gas) will cost more thanks to the pound dropping thanks to this fucking stupid budget.

That’s rathe the point.
Correct maths matters.

Absolute sums also matter.

Yep!
Fuck the rich eh?
Until you need them (which you do)

And yet there are many people on that income who don't get those.

Some do
Some don't

And it's a real shame that there are people who earn the MEDIAN income in a country have to get support just to get by.

But that's a whole other discussion.

This government don't agree, no. That is why we are going to have a bigger recession than necessary and why the markets have reacted so badly.

Societal incomes are a pyramid. Most people are at the bottom. They have to have enough money to drive the basic economy. Without that we are all fucked.

That is why this budget has left everyone quite - there was not one single thing to help the bottom 50% spend more money. Expect job losses and business closures to follow.

And the rich need other people.

We all exist together.

My maths is also correct, we are doing different sums

I agree.

But I’m not on here slagging of those who rely on the state, and I’m more than happy to pay my taxes!

Didfernt sentiment from the other direction, you included!

If you are talking about tax savings. It has to be elegant to the amount being taxed.

5% increase in tax home of taxable money - not 1%.

Words matter. Don’t obfuscate.

Quite. It is a society and the people at the bottom need to earn enough to drive the economy so that the rich can earn at the top.

You can't grow an economy with basically half the population unable to spend, which is the situation we are looking at. It will not benefit the economy if I put a bit more in my pension/ISA/whatever.

That’s not really true though. It’s generally the case that they are nicer people than those on the left.

Let’s be honest here, you aren’t going to be stabbed or robbed walking through Canary Wharf late at night but are pretty likely to be if you try the same in a Labour stronghold estate in Hackney.

I'm a Tory and I'm really annoyed about the decisions made yesterday.

Stamp duty changes - good
Abolishing top rate of tax - not a priority
Bankers bonuses - not a priority
Not increasing 40% threshold - WHY?!

It's a budget for the mega rich, not the aspiring working and middle classes. It's a lost opportunity.

After this comment I now doubt your maths understanding full stop. You have spent a lot of time saying other people don't understand but you seem not to yourself.

My posts above are clear enough, the increase in take home pay for someone on £20k is 1% and the increase in take home pay is 4.5%. Either you think that is good or bad. I think bad.

You think... who knows?

Shall we leave it there?

Oi!
Pack it in.

It's also about the entire country.
An education system for people
Health care
Child care
Infrastructure

Without all this stuff, we wouldn't have a country where rich people can earn money.

In your opinion much tax and NI should someone on £160,000 per year be paying?

I saw on the news this morning that the changes have cost 45 billion.

Where are you getting the 2 billion from?