To believe that if Labour wins we wont be hit with 98% taxes?

[DistinguishedSocialCommentator]

And the other day one of the Labour lot let slip taxing pensioner more than others

A bit of Labour what they say and do - the 98% tax

You an Google the 98% tax if you dont want to read the link

AIBU not to trust the Labour lot just like I dont trust the Tories

https://www.adamjwalker.co.uk/business/are-you-ready-for-labours-tax-bombs/

Go away with your nonsense ...I l know I shouldn't click on this crap , forgive me....

You do realise that taxation is on a sliding scale don't you? So the first £12,500 is tax-free then the next bit is 20% going up to 45% and then up to 50% for anything you earn over about £125,000. That isn't 50% of everything you earn, just everything you earn over that amount.

If you really think that any government is going to recommend taxing everybody 98% of their wages then I think you're too stupid to vote quite frankly.

Of course we won't. You may not have noticed (and it wouldn't surprise me if you hadn't), but it isn't the 70s anymore and the Labour party of today is a very different animal.

Honestly, you do post such bizarre nonsense!

Of course we're not. How many months to we have of both tory and labour electioneering? STOP

Whereas if the Tories get in, there will be a 100% tax in all but name for some with the benefit plans Rishi Sunak has outlined earlier today.

I can’t believe Rishi was saying he was going to get rid of PIP in return for giving people medical treatment. How? Medical treatment isn’t meant to be instead of PIP- despite the fact that many are being forced to use to to pay for long term therapy that the NHS should be providing for free. PIP is meant to cover the extra costs of being disabled, estimated at around £930 a month on average despite full PIP being less than that.

I remember those rates - I joined HMRC in 1975 - but very, very few people paid at that highest rate. Certainly none of the half million or so taxpayers that my office dealt with.

I think a few left the UK to avoid it - IIRC Sean Connery was one of them?

I can't see any Government bringing back those rates - statistics have shown you get most tax revenues from the kind of rates we have now.

At it again I see @DistinguishedSocialCommentator. You really do post some ridiculous nonsense.

To believe that if Labour wins we wont be hit with 98% taxes?
That's correct, we won't be.
The rest of your post makes zero sense like most of your postings.
YABU

Improving cash starved services will need cash boost which comes from borrowing or taxes - both at high levels under Tory's - so whoever gets in taxes will likely have to go up but 98% sound like scaremongering.

Is OP some form of primitive and broken AI?

We won’t be spending on the stuff the Tories love - Rwanda’s gravy train will be derailed for a start.

Not quite right as the tax free amount is taken away once you get past a certain point making the marginal rate significantly more than 50%.

It doesn’t have to be.

Ah - the daily dose of cerebrally challenged word vomit from our very own human version of The National Enquirer.

Time, I think, to hit the bottle.

Well of course there won't be pet project under Labour that waste money.

Fact we have an aging population and cash starved services will just magically disappear -it will all go back to the 90s.

I live in Wales 20 years of welsh labour governances it all great here - few financial scandals Welsh government had were probably fault of Tory's some how anyway.

From the HMRC website
Your Personal Allowance goes down by £1 for every £2 that your adjusted net income is above £100,000. This means your allowance is zero if your income is £125,140 or above.
So you will be taxed at 40% on this income and lose £12.5K of tax free income for earning £25K. The marginal tax rate on income between £100K and £125K is significantly higher than 40% as a result.

Yes, but that’s now. Future governments can change the tax structure, it’s not set in stone for ever by some law of physics. 🙄

OP you should change your name to Dan. Desperate Dan.

I didn't say it was. I responded to the statement on current tax rates to explain why it was wrong as it did not include the loss of the Personal Allowance. A simple statement of the current facts.
I am sure the tax rates will change in the future.

TwitGPT?

I would like to respond but your OP is garbled and barely comprehensible.

TBF I am already paying a 100%+ tax rate on quite a large part of my income under a Conservative government, so excuse me for not worrying about Labour’s tax regime!

Plus student loan payments

Plus the loss of childcare support

I think we have the second highest tax rate on earth at present, due to the £100k limit.

OP, my old grandmother had a saying. "Empty vessels make the most sound".