October budget going to be painful

[increasinglyconcerned]

Here we go..... I knew it. Labour were promising not to hike our taxes in the election campaign and here we are.... apparently they discovered £22 billion black hole in his first weeks in the role and it's not his fault.

Let me guess, those of us who earn six figures and already pay 45% will pay EVEN more and take home even less. It's the hard workers who will take the brunt. What's the point in working anymore!

I earn a little over £120k and I'm taxed the same as those earrings £500k.

Before people jump in saying they don't feel sorry for me, I work full time to support my family, as of January I will have 2 DCs in nursery, plus my mortgage and get ZERO free hours childcare, whilst they keep promising free childcare but I just pay more for everyone else to benefit.

I cannot afford to pay more taxes to fix this country and especially when so many people are getting a free ride and not paying their way, ranging from millionaires with tax havens to those claiming benefits dishonestly.

... and your point is??

in a few years though your children won’t be in nursery and surely on that salary you’ve had the chance to save up.

YABU

it is what it is everyone has to pay their share and suck it up. Running a country decently costs a lot of money. I do agree on the super wealthy and tax havens but that was all allowed to flourish under the Tories

It’s obvious what her point is, read it again if you have trouble understanding.

OP, it sucks, I too wonder what’s the point in working sometimes.

I think you should be directing your anger at the ones who left the 22 billion black hole.

You could have chosen a less lucrative career.

You could have chosen a smaller house with a smaller mortgage.

You could have chosen to have one DC, not two.

I wonder who you voted for.

It is frustrating when you work hard and end up giving so much to the tax man. And there’s others who don’t work a day in their life unaffected.

Plus I am in Scotland where we already pay 42% tax at just over a third of what your salary is!

From what I hear, the proposed tax changes will affect capital gains and inheritance tax. Where does it say you will have to pay more income tax? That's right, nowhere.
"It's hard workers who will take the brunt"... oh, that old chestnut. Of course, me and my many colleagues in the NHS who are on sub 50k salary are lazy and are not working hard enough. Gotcha.
"I pay more for everyone else to benefit". Well, so do I. Among other things part of my taxes go on your children's education once they go to school and their healthcare. That's how society works.
You have a choice to stop working and try state support if you think it is going to make you better off.

"It's the hard workers who will take the brunt. "

Just because you earn so much it doesn't mean that you are the hardest workers. Not by a country mile. A building sure labourer on minimum wage works hard in all weather. A hospital porter works hard. Nurses work hard and long shifts. Teachers Work hard for a pittance and get PTSD for it.

Earning an excellent wage doesn't mean you work harder than somebody on minimum wage. Often it's quite the opposite.

I'm sorry you are going to struggle but I'm aiming your part we will be sharing costs with you in the raising of your children and nursery etc. so you don't get just your wage of £120k before tax. So your family income is the very top tier and you are begrudging helping the people on the very very bottom. How lovely of you.

You don’t work harder than someone slogging their guts out for minimum wage just because you’re in a highly paid role, and no I don’t feel remotely sorry for you with your £120k salary.

I earn significantly less than you but I’m taxed at the same rate and I don’t whinge about it because I recognise how incredibly privileged I am to have the life I do, and I am delighted to pay my share towards making sure kids get decent schools and sick people get care in hospitals.

If you truly don’t see the point in working any more then stop. Get yourself a zero hours contract, do as little as you like, get your earnings below the tax threshold. Nobody is stopping you.

Well stop working then.

Try being a hospital cleaner.

Or maybe a bin man?

Or being a carer, that's fun, easy money to keep a little old lady safe, no sleep for you mind as she wanders at night and is quite fond of a stroll in the darkest reaches of the night.

I've only just won this salary and was in debt myself before that, so no I have not saved up. I managed to clear my debt and buy a house, I just don't understand the point of working.

I may as well save the £4k a month/£48k a year on nursery and claim benefits. After all I won't end up with much less.

That salary is with my bonus, which I put in significant overtime for and that is taxed 45% too. My point is, are we now going to be taxed at 50%? 55%? Where does it end.

And yet, we hear of so few people giving up their £120 k jobs for a life on benefits... There must be something keeping you hanging on OP, what is it?

Sorry but nurses, bin men, hostipal porters etc work bloody hard too and they aren't on high wages.

You could of chosen to have a smaller mortgage or one less child.... YABU.

Sorry but I don’t feel sorry for you.

You could have planned better to not have both children in nursery at the same time.

You could choose a more modest house and lower mortgage.

I also work full-time to support my family, and earn well above average. I don’t begrudge paying my taxes.

You don’t even know what Labour have planned yet. They may only hike taxes for much higher earners.

YABU for suggesting that people on six figures are the (only) hard workers.

Be annoyed at the Tories for getting us into the 22 billion black hole.

There are plenty of people who limit earnings to 99k as if you have nursery age children you could receive a 30k pay rise and not be a single penny better off. I don’t care what you earn there is no justification for that set of circumstances.

Well do that then? Why wouldn’t you, if you think you’ll be better off

You are equating working hard with having a high salary and which is not always the case. Plenty of people work hard in minimum wage jobs.
Our national debt is massive so inevitable that taxes will go up. What’s the alternative?

You've missed my point, those earning less are very likely working incredibly hard but are paying less tax and wont be in the line of sight to pay more come October. There is this magical never ending pot of money for 6 figure earners apparently.

Where would the country be if everyone chose not to go into the higher paid jobs?

We've seen how it looks with the doctors who retired early or reduced hours to reduce their punitive pension fund taxes, and younger ones who do fewer hours to stay under the £100k threshold to keep free childcare and the personal tax allowance.

It causes labour shortages!

Compared to most countries we tax lower earners less and higher earners more.

Look at countries with well funded public services such as some of the Scandinavian countries and you’ll see that people on sub 50k pay far more tax than they do in the UK and those on over 100k pay far less.

It is hard when kids are small there is no getting away from it. But it’s a few years and gets better quickly once they are bigger.

Remember "austerity"? When the tories got in and said oooh there's no money so the country will have to suffer? And axed funding everywhere? It's not labour who are at fault here.

I earn more than you and I certainly have not worked hard in my life. I'm clever and lucky. That's all. Or, maybe, that's everything. Pay your taxes and count yourself fucking lucky

What's the alternative?

How about reducing benefits and forcing those who can work into work, and part timers to work longer hours!

The answer can't forever always be to hit the workers.

We need workers and the government should put all efforts into getting people working, not hitting them with tax rises when they do.