Labour and tax

[Iwishicouldflyhigh]

Is anyone else concerned about all the talk about Labour getting in and then increasing lots of taxes - capital gains, CT, tax on pensions etc. I'm accepting that they are going to get in, but i am genuinely concerned that they are going to clobber the middle classes.

I don't think that KS is a bad person (actually - with a few exceptions - i think that most politicians at least START in politics with the correct intentions), but i 'm worried that his genuine ideals are far more left then he is making out. The rich will be all right (they always are), but the middle classes (of which i am one) - i'm genuinely worried. He supported JC for God's sake!!

I think that people are genuinely so pissed off (rightfully) with the Tories, that they are voting in Labour with the idea that they can't be any worse. But i'm concerned that they might be (for different reasons).

Can any party really fix the issues in this country?

Please talk me down, someone!

Nope.

Where you off to?

California, 5th July, plane is booked.

@Iwishicouldflyhigh did you believe the brexit promise of an extra £350m a week for the NHS if we left? If so, how did that work out for you? If you didnt, you understood a con when you saw it. So see it now.

We have the highest tax rate ever, and yet our public services are on their knees. Wherever you look, the NHS, our rivers and seas, our schools? All worse than 14 years ago.

When I hear a Mum say that a place for her child in nursery would cost her £1k a month, in wales, I stop wondering why we have so many economically inactive people in our community.

the link was shared above

There's no such thing as public money.

They just need to learn to spend it better.

@Onomatofear
what is your definition of rich? and where are you based?

If my DC are in private school and I use private healthcare can I be exempt from some taxation??

@Olderkids the Labour government were absolutely not to blame for the global recession in 2008. I have no idea why they have accepted the blame so readily. On the other hand, the Tories and their act of unsurpassed self harm that was Brexit was exclusive to the UK and entirely on them. Not to mention pointless since they only did it to see off Nigel Farage etc and look at them now.

Actually quite funny that people blame the economic state of the country on Labour after 14 years 🙄

Not at all, I'm genuinely hoping they do raise taxes as public services are in such a state there's v little chance of economic growth without an injection of capital. CGT hike it likely I suspect but absolutely necessary.
I believe Starmer and Reeves when they say that they will not hike income taxes and other taxes that affect salaried earnings

TTFN 👋

Nice to see a sensible post.

The smart-arsery about the link to contributing more tax is tiresome. It's not just contributing more tax, it's having faith that it's spent reasonably. Would I contribute more to a government who are likely to spend it on removing people to Rwanda - no; would I contribute more on spending more to build up equality and investment in this country - yes.

I read something the other day that said he classes working people as people who rely on the system and who have no savings. This makes no sense to me.

That is paying for all the recnt crappie, like PPE scams,tracking trace scam, coving loans etc, all under this shambolic govt.

Although Labour didn’t create the mess, I’m concerned the middle class will be made to pay for everything. The VAT on school fees and the way it was communicated as though it is a culture war, makes me worry what will come next.

It’s very easy to play to the gallery with talk about ‘sharp elbowed middle class latte drinking, remain voting, North Londoners’, and make out they represent all middle class and should be punished in some way.

Why wouldn’t you have those shared in an ISA? Or are you talking about people who have over £20k a year to invest (£40k per couple). Because those people can afford to pay a bit more tax.

This.

The wording around tax rises is that “ordinary working people” won’t pay any more tax. Note the use of “ordinary” and “working”. That doesn’t obviously include anyone who is a higher rate tax payer or a pensioner or receiving any kind of income from capital gains, rental income etc.

Well some of us would like the opportunity to earn enough to even pay tax! A proper national levelling-up would be really helpful. Please no suggestions about how I can improve my earning power - I'm 62 in a few weeks, single with 'caring' responsibilities that hinder this.

I've never had a problem with paying tax as it pays for things we all use. But I'm not so keen on paying for waste and incompetence , particularly in local councils, and would take a scythe to a lot of the 'working conditions' and inability to sack such incompetence.

A Labour vote is a wasted vote in this constituency but the encumbent Tory MP needs to be gone. I've toyed with voting Reform as the candidate isn't an extremist, just fed up like the rest of us, and it's Brexity round here, but will probably plump for the LibDem as they've got a chance of ousting.

I too will be away for the GE, going away to see a dentist as there's none, not even private, round here. So Im going 'postal' for the first time.

It’s very easy to play to the gallery with talk about ‘sharp elbowed middle class latte drinking, remain voting, North Londoners’,

I would have thought it would be quite hard for Keir Starmer to pull off that demonisation since it pretty perfectly describes himself.

Not remotely worried - I'm happy to pay more tax if it means better funded public services

Agreed. But if Labour announce it tomorrow, how many house moves will fall through instantly? People would not move because they would see that a politician would reverse that move in the future and they’d sit it out instead. So they wouldn’t take that job on the other side of the country that would pay more (and pay more in taxes) and they wouldn’t downsize to free up housing stock, and they wouldn’t move into a property which would moves closely suit their health needs. There’s a reason why economists loathe Stamp Duty with a passion - anything that disincentivises people to move house is terrible for the economy.

That’s not to say a politician wouldn’t be daft enough to want to introduce it. I’d like to think Labour and their advisers are wiser than that.

Not sure if it's been mentioned already as I haven't RTFT but KS was interviewed on LBC a couple of days ago and was asked to 'define working people'. His answer suggested only people without savings.

Oh, the hysteria! A (potential) rise in CGT would affect 3% of the population.

Cue the middle classes: “Waaaah! We’re all fucked!”

@Rubblefrompawpatrol but if they agree on taxing 'unearned wealth' why not the wealth from private homes?

What is your 3% calculation based on?