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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

OP posts:
Thread gallery
8
Churchview · 20/04/2024 10:00

If we're talking about brain drain then we might want to look at the impact of Brexit before we start looking at the the small number of people who would be in a 98% tax band.

Churchview · 20/04/2024 10:02

DistinguishedSocialCommentator · 20/04/2024 09:59

Thank you

You did not need tens of thousands to leave but just a few thousand as they paid a large proportion of the England's taxes and this had a massive impact on the tax income so it was abolished, labour was booted out

Yes, let's focus on the England's taxes.
It's this level of intellectual and informed discourse that has me returning to Mumsnet time after time.

Churchview · 20/04/2024 10:03

Just out of interest OP, where are you based? Are you in the England?

pointythings · 20/04/2024 11:38

Going by a previous thread, OP is in the Australia.

makeanddo · 20/04/2024 11:54

As soon as Labour get in they will say 'oh dear it's much worse than we thought....'

And then the increases will start - if you're a homeowner, employed they are after more money from you. The pool of people paying in is getting smaller, they will be careful squeezing business as they want to be seen to be on the side of business.

I won't vote for the current shit show but imo for hard working homeowners it's going to be awful under Labour.

DameKatyDenisesClagnuts · 20/04/2024 12:01

The OP also lives within walking distance of central London according to another thread they were on this week

blacksax · 20/04/2024 13:08

DistinguishedSocialCommentator · 19/04/2024 23:25

You conveniently forget the the Labour party and some of them are still comprehensively against our nuclear deterrent. What does that tell you about the dysfunctional Lab lot

Ask yourself this about the working class lab MP's - what proportion of them earn less than the average wage

How many of them live in council property?

How many of them are worth less than a million

What makes you think I would vote Labour?

Your grasp of basic economics needs brushing up by the way.

Zonder · 20/04/2024 13:32

pointythings · 20/04/2024 11:38

Going by a previous thread, OP is in the Australia.

I didn't realise the Tory party have staff working so remotely.

poetryandwine · 20/04/2024 13:44

Churchview · 20/04/2024 10:00

If we're talking about brain drain then we might want to look at the impact of Brexit before we start looking at the the small number of people who would be in a 98% tax band.

This

poetryandwine · 20/04/2024 13:45

Not that I think there is the slightest chance Labour will support such tax banding

VestibuleVirgin · 20/04/2024 14:21

Nice try, indistinguishablesocialcommentator

BaconCozzers · 20/04/2024 14:24

Have I been on the sauce or have you op?
What the fuck now?
Actually, don't, I can live without knowing... 😆

TooBigForMyBoots · 20/04/2024 14:27

Ooh. A box of frogs. I love frogs.🐸

Jc2001 · 20/04/2024 14:29

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/

Just how much are you earning to be worried about this?

DistinguishedSocialCommentator · 20/04/2024 15:05

Jc2001 · 20/04/2024 14:29

Just how much are you earning to be worried about this?

Thank you for asking.
We do not earn a lot as we, my OH and I both left work in our early 50's. We do care re our kids, two of whom are easily in the top 5% of earners and the third one is not far behind,

Work should be rewarded, IE an incentive to work and keep a fair share of your money. Going to work costs big bucks, just look at the weekly travel tickets for train/tube and buses plus the time one spends away from home.

Through work I'd met a clients at least 3/4 dozen family's when no one had every been employed doing an honest days work. At times there were 3 generations of them as most of them had kids by the time they were 18. In those days I believe that all of the rent was paid as well as council tax but things have changed slight;y The people I refer to were playing the system, no ifs, no buts. NB, I'm not referring to the many genuine people that cant work, (I knew the people were playing the system as I was aware of their medicals and abilities as advised by them. However, if I saw them in the street as i drove past or town, etc, they could do a lot more than they let on. Anyone that believes that some people dont play the system need to have their brain cell reality check.

Even the Tories banged on about "work should be rewarded" - do they F

Sadly, people earning up to 160k I think it is that are spending and investing wisely have been shafted by the Tories and will be truly F'd by the Labour lot.

If you are young and working and aspiring to buy your own place or have your own place and savings - spend it systematically as when/if the time comes for a care home or IHT - you wont really have to pay if your have your property mortgaged to the hilt and less than xxx thousands in savings. Give it away, buy flash cars, bigger and better hols, get the latest mobiles, work less hours as those that work hard and spend wisely will be shafted hard by any government as most govs will look after those who dont work and the big boys but two fingers to you if you are in the middle like most people with their own property and savings.

OP posts:
pointythings · 20/04/2024 15:25

@DistinguishedSocialCommentator a lot of research was done around the claims that emerged around there being so many families where three generations had never worked. And guess what? Families like that turned out to be extremely rare. Even families with two generations not working were rare. So unless you can link me to some research stating the opposite, I'm calling bullshit on you knowing loads of them.

blacksax · 20/04/2024 15:51

"Through work I'd met a clients at least 3/4 dozen family's when no one had every been employed doing an honest days work."

If you were as distinguished a social commentator as you claim to be, you would not construct a sentence containing so many fundamental errors.😂

NamelessNancy · 20/04/2024 17:08

pointythings · 20/04/2024 15:25

@DistinguishedSocialCommentator a lot of research was done around the claims that emerged around there being so many families where three generations had never worked. And guess what? Families like that turned out to be extremely rare. Even families with two generations not working were rare. So unless you can link me to some research stating the opposite, I'm calling bullshit on you knowing loads of them.

Yes, it was the Rowntree Foundation which exposed the myth of multiple generations without employment.

Are 'cultures of worklessness' passed down the generations?

Are there really families where three generations have never worked? Exploring intergenerational cultures of worklessness.

https://www.jrf.org.uk/are-cultures-of-worklessness-passed-down-the-generations

DistinguishedSocialCommentator · 20/04/2024 17:45

pointythings · 20/04/2024 15:25

@DistinguishedSocialCommentator a lot of research was done around the claims that emerged around there being so many families where three generations had never worked. And guess what? Families like that turned out to be extremely rare. Even families with two generations not working were rare. So unless you can link me to some research stating the opposite, I'm calling bullshit on you knowing loads of them.

Are you taking the P!!! Read my post, its what I saw and the "link" to it is my post, friend. Ok.

OP posts:
pointythings · 20/04/2024 18:03

DistinguishedSocialCommentator · 20/04/2024 17:45

Are you taking the P!!! Read my post, its what I saw and the "link" to it is my post, friend. Ok.

Thing is, I can either believe you or I can believe the actual research. That isn't a difficult choice to make.

DistinguishedSocialCommentator · 20/04/2024 18:12

pointythings · 20/04/2024 18:03

Thing is, I can either believe you or I can believe the actual research. That isn't a difficult choice to make.

Google it bud. Because if I do, the link wont be good enough for you. As I said, bud. It is what I saw and the link is my post. The choice is yours to Google or not as you will bang on about, "oh no, its the.."

OP posts:
BIossomtoes · 20/04/2024 18:24

Who or what is “bud”?

leamington66 · 20/04/2024 18:58

Churchview · 20/04/2024 10:00

If we're talking about brain drain then we might want to look at the impact of Brexit before we start looking at the the small number of people who would be in a 98% tax band.

So it’s ok to lose a lot more highly paid people because we lost some due to Brexit? Presumably we want to hold on to the ones who stayed?

pointythings · 20/04/2024 19:27

DistinguishedSocialCommentator · 20/04/2024 18:12

Google it bud. Because if I do, the link wont be good enough for you. As I said, bud. It is what I saw and the link is my post. The choice is yours to Google or not as you will bang on about, "oh no, its the.."

I have Googled it. That showed me that you are wrong. Data trumps anecdote. Every time.

Uricon2 · 20/04/2024 19:32

You imply in several posts@DistinguishedSocialCommentator that you were employed in social care or an allied profession. Interested in if that was so.

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