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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
EilonwyWithRedGoldHair · 22/04/2024 15:06

poetryandwine · 22/04/2024 11:25

I share your selfishness! We all benefit from services that work.

Functioning health care is a hallmark os a civilised society, one that many parts of the UK presently lack. It can only be solved by a combination of more and better targeted spending

If nothing else it's more cost effective.

Swift assessment and support for DS might have meant that the police weren't called out on three occasions, that I didn't go to a&E three times, prevented multiple calls to 111, all the time spent by our ALNCo chasing up the referral, multiple GP appointments trying to get a CAMHS referral...

There's also the time I had signed off sick with stress.

The delay must have cost £1000's.

frankentall · 22/04/2024 15:10

DistinguishedSocialCommentator · 22/04/2024 13:49

Not sure what you are attempting to state!

Well it is hard to get through to you using standard means of communication, that much is true.

poetryandwine · 22/04/2024 15:17

EilonwyWithRedGoldHair · 22/04/2024 15:06

If nothing else it's more cost effective.

Swift assessment and support for DS might have meant that the police weren't called out on three occasions, that I didn't go to a&E three times, prevented multiple calls to 111, all the time spent by our ALNCo chasing up the referral, multiple GP appointments trying to get a CAMHS referral...

There's also the time I had signed off sick with stress.

The delay must have cost £1000's.

This is so frustrating, above and beyond the original crises. I hope your health and that if DS are better now. Child MH is so tricky.

We actually got BUPA after a friend’s death by cancer seemed likely attributable at least in part to delays and mistakes by the NHS. Ironically when DH was then diagnosed with a highly aggressive cancer the speed with which his NHS surgeon pushed him through the system what probably saved him. I am very sad for people getting similar diagnoses today, who do not all seem to get the same care.

Abhannmor · 22/04/2024 16:11

Churchview · 20/04/2024 10:02

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.

😂 😂

DdraigGoch · 22/04/2024 16:35

pointythings · 22/04/2024 08:45

What happened to your white flag?

On the cycling thread the OP kept saying "I'll let you have the final word" to various posters. I lost track of how many "final words" there were by the end.

frankentall · 22/04/2024 16:47

I am increasingly coming to the conclusion OP is some kind of AI prototype but has malfunctioned.

DdraigGoch · 22/04/2024 17:08

It's odd that the OP talks about tax hikes on pensioners as if it's something we ought to be concerned about. Given that pensioners currently avoid the 10% NI rate the rest of us have to pay (despite working age people often having higher outgoings such as mortgages and the cost of raising children) I'd welcome a levelling of the playing field. Low income pensioners wouldn't be affected as they'd fall below the personal allowance.

Talking of levelling the playing field, I'd also welcome it if dividends and capital gains were treated just the same as any other income (though obviously with an indexation allowance for CGT). There's a fair few billion to be recovered there.

Morph22010 · 22/04/2024 18:47

EilonwyWithRedGoldHair · 22/04/2024 15:00

I am aware of this given that I pay some attention to what goes on in the country. If income tax had been cut rather than NI I'd have said the same about that - of course extra money helps given our situation (cost of living, child with ASD and so on) but I'd prefer it if the Tories didn't try and bribe me to vote for them and instead properly funded services.

If tax is cut would be cut for all types of income then and a cut for pensioners too (they don’t pay ni). Wasn’t the argument behind it was that it was to help workers so it that case cutting ni instread of tax makes sense, although I don’t actually agree with their being any cut

ArchaeoSpy · 22/04/2024 19:23

As an advocate of Jamie dimon from Jp morgan and chase, we need a balanced tax system rather than just tax the rich etc

Saschka · 22/04/2024 19:30

DistinguishedSocialCommentator · 21/04/2024 15:22

Like minded Labour MP's are still in the party.

One could say the same about Liz Truss, who is very much still a Tory MP and has a gaggle of cronies in Tufton St keen to put her back in power.

But strangely it is Jeremy Corbyn you are worried about, not Liz bankrupting your pension fund and causing a run on the pound.

DistinguishedSocialCommentator · 22/04/2024 20:33

Saschka · 22/04/2024 19:30

One could say the same about Liz Truss, who is very much still a Tory MP and has a gaggle of cronies in Tufton St keen to put her back in power.

But strangely it is Jeremy Corbyn you are worried about, not Liz bankrupting your pension fund and causing a run on the pound.

Just proves what I have been saying all along in this thread, ie, they are all the same
The only slight difference is that labour lot inc their many millionaire MP's try to keep happy those on the bottom rung of the ladder of life, and the Tories aim for the lower middle of the ladder for the votes.

Labour favours those on benefits on the whole
Tories favour the very rich and the big organisations

Both of them lie and lie and more lies and will say anyhitng to get into nuber ten and stay there for as long as they can

IMO, only the easily led will fully believe that their ploitical party really does care about them

Labour has always clamied to be a party for the workings classes, eg low to just above average wages and the tories seek votes from the others.

Question. How many of Labours ministers live in council homes??
How many labour MP's send their kids to private schools?

Think about it, can you afford to send your kids to a private school and you are a fully fleged labour fan? If you can just about afford that, dont worry as Lab is putting vat on private schools - so save up, work harder do more over-time to get you kids the future you never had

OP posts:
DistinguishedSocialCommentator · 22/04/2024 20:37

ArchaeoSpy · 22/04/2024 19:23

As an advocate of Jamie dimon from Jp morgan and chase, we need a balanced tax system rather than just tax the rich etc

IMO, "balanced tax" is where even those out of work pay, IE, on benefits and getting more than the tax allowance. Included in the benefits is rent that gets paid direct to council, the discounts on council tax etc etc - that is what I call "blanaced tax"

Why should someone getting more than the tax exempt amount where people work and pay taxes for anything over the allowance and those getting benefits inc in the rent and not having to pay a penny and in some cases get up to 20k yearly and not pay a penny in taxes,

OP posts:
pointythings · 22/04/2024 20:39

ArchaeoSpy · 22/04/2024 19:23

As an advocate of Jamie dimon from Jp morgan and chase, we need a balanced tax system rather than just tax the rich etc

A balanced tax system would tax wealth as well as income so that those living off dividends etc. would pay their share.

pointythings · 22/04/2024 20:42

@DistinguishedSocialCommentator everyone pays tax, even those on benefits. VAT, for example, is a tax.

Other than that your posts are just more rubbish about how you can't be socialist unless you're poor.

dimllaishebiaith · 22/04/2024 20:46

frankentall · 19/04/2024 17:13

Is OP some form of primitive and broken AI?

I'm pretty sure the OP is a plant to convince us that an IQ test should be needed before people are allowed to vote

DistinguishedSocialCommentator · 22/04/2024 21:17

pointythings · 22/04/2024 20:39

A balanced tax system would tax wealth as well as income so that those living off dividends etc. would pay their share.

So those already not getting any tax allowance paying the highest taxes are taxed even more - great idea for the Labour party and it may be on their real manifesto the public does not see

OP posts:
EilonwyWithRedGoldHair · 22/04/2024 21:23

Morph22010 · 22/04/2024 18:47

If tax is cut would be cut for all types of income then and a cut for pensioners too (they don’t pay ni). Wasn’t the argument behind it was that it was to help workers so it that case cutting ni instread of tax makes sense, although I don’t actually agree with their being any cut

That was the argument. It's a bribe to people in work. I assume they don't feel they need to bribe older people.

Wrong decision anyway. I don't want tax or NI cuts, I want functioning services.

Churchview · 22/04/2024 22:43

DistinguishedSocialCommentator · 22/04/2024 21:17

So those already not getting any tax allowance paying the highest taxes are taxed even more - great idea for the Labour party and it may be on their real manifesto the public does not see

A manifesto is the 'written statement declaring publicly the intentions, motives or views of its issuer'.

A manifesto the public does not see is not a manifesto.

Zonder · 22/04/2024 23:22

Churchview · 22/04/2024 22:43

A manifesto is the 'written statement declaring publicly the intentions, motives or views of its issuer'.

A manifesto the public does not see is not a manifesto.

This is one of those threads where crazy posters try to confuse the poor OP with facts, isn't it?

ThinkAboutItTomorrow · 23/04/2024 07:08

"Think about it, can you afford to send your kids to a private school and you are a fully fleged labour fan? If you can just about afford that, dont worry as Lab is putting vat on private schools - so save up, work harder do more over-time to get you kids the future you never had"
*
Or let's tax wealth (capital gains or maybe all wealth over £2m) and luxuries (like private education) and invest it in state schools to give all kids a better future, whilst boosting the economy.*

Newbutoldfather · 23/04/2024 07:50

They should tax property values, not general wealth (on a sliding scale with a nil rated band). That would also allow them to reduce or scrap stamp duty, which prevents mobility and is also a tax on divorce.

Wealth taxes hit the aspirational and can be easily dodged by the truly wealthy, so those with a couple of million of ‘wealth’ will be hit but those with tens or hundreds of millions can easily duck it via offshore investments and trusts. If the tax is on the property, it is collected every year and hits offshore investors too. They should also charge CGT on people’s primary residence, maybe allowing it to be rolled up and paid on a voluntary basis when affordable (or added to inheritance tax at the end).

In addition, they should charge CGT at people’s top rate of tax.

All the above is patently fair and would raise significant money.

DistinguishedSocialCommentator · 23/04/2024 10:09

Newbutoldfather · 23/04/2024 07:50

They should tax property values, not general wealth (on a sliding scale with a nil rated band). That would also allow them to reduce or scrap stamp duty, which prevents mobility and is also a tax on divorce.

Wealth taxes hit the aspirational and can be easily dodged by the truly wealthy, so those with a couple of million of ‘wealth’ will be hit but those with tens or hundreds of millions can easily duck it via offshore investments and trusts. If the tax is on the property, it is collected every year and hits offshore investors too. They should also charge CGT on people’s primary residence, maybe allowing it to be rolled up and paid on a voluntary basis when affordable (or added to inheritance tax at the end).

In addition, they should charge CGT at people’s top rate of tax.

All the above is patently fair and would raise significant money.

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

OP posts:
DistinguishedSocialCommentator · 23/04/2024 10:10

ThinkAboutItTomorrow · 23/04/2024 07:08

"Think about it, can you afford to send your kids to a private school and you are a fully fleged labour fan? If you can just about afford that, dont worry as Lab is putting vat on private schools - so save up, work harder do more over-time to get you kids the future you never had"
*
Or let's tax wealth (capital gains or maybe all wealth over £2m) and luxuries (like private education) and invest it in state schools to give all kids a better future, whilst boosting the economy.*

Why chose a figure of "2 million" and not half/one or three etc?

OP posts:
Araminta1003 · 23/04/2024 10:17

The fact people are making hundreds of thousands of pounds on main homes and then leaving it tax free to their children when they die - this does not help anyone long term. There is already probate - they should be taxing all deaths properly.
And the tax free exemption on main residence needs to go too. It is an anomaly internationally speaking anyway. We have a housing crisis.

The NHS was not set up for people to live into their 90s. We also just have to accept that we all contribute a bit more ourselves. It cannot carry on like this. It is so bad now the country is unproductive. Some people literally get PTSD from sitting in A&E for 20 hours. Experiencing health problems is difficult enough. If the care is like going into a war zone, people come out with mental health issues too.

Araminta1003 · 23/04/2024 10:19

Wealth taxes are incredibly expensive to administer. Realistically you cannot tax anyone more than let’s say 1 per cent of total wealth and then you need HMRC officers to check people properly.
So you need to tax easy stuff like house sales and probate. Stuff where HMRC does not need to do much more work.

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