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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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

231 replies

DistinguishedSocialCommentator · 19/04/2024 15:01

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/

Are you ready for Labour’s Tax bombs? | Adam J Walker & Associates Ltd

When I started work in 1979 , the top rate of tax was 98%: 83% income tax plus a 15% surcharge on investment income. If you don’t believe me then Google it! I wasn’t earning enough in those early days to pay this tax rate myself but my boss was and he...

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

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ArchaeoSpy · 26/04/2024 19:43

DistinguishedSocialCommentator · 23/04/2024 10:09

So you want those that took risks, lost out on hols, eating out, buying new cars and risk losing their home even after paying possibly hundreds of thousands of pounds when rates shoot up, to have their property taxed again on top of the stamp duty aka tax they already paid?

IMO, those that got at massive discounts council property should pay higher taxes when selling it

Yes because it's part of the divide between the various levels of wealth

ArchaeoSpy · 26/04/2024 19:44

BIossomtoes · 23/04/2024 16:01

I doubt very much that teachers would still be teaching. A bankrupt government wouldn’t have been able to pay them.

Chances are the private sector would provide the service instead

BIossomtoes · 26/04/2024 19:51

ArchaeoSpy · 26/04/2024 19:44

Chances are the private sector would provide the service instead

So how would it be paid for?

Barney16 · 26/04/2024 20:07

I read the title of this post and I knew it was you. Yes you, distinguished person. No we won't pay 98% tax under Labour, no, Labour don't hate women ( think you mentioned that before) no, Labour don't plan on sinking Britain to the bottom of the sea or anything else you can come up with.

ArchaeoSpy · 28/04/2024 11:25

BIossomtoes · 26/04/2024 19:51

So how would it be paid for?

various charges based on income levels etc and run education more as a business model, plus it may help improve the quality of education too.

Bibi12 · 30/05/2024 02:43

MidnightPatrol · 19/04/2024 20:18

@DramaLlamaBangBang it’s marginal tax rate.

So other countries pay more on average.

And - in countries like Sweden they don’t have an enormous tax free allowance - so lower paid people are taxed more, but receive more benefits.

But in Sweden all people get affordable childcare, paid sick leave, great infrastructure etc. In UK when you're a higher tax payer you lose child benefit, tax free childcare, funded hours so you're basically not entitled to policies that your taxes pay for.
Than on top of income tax we have high council tax that doesn't exist in other countries.

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