To think getting less than 50% of your pay is crazy?

[rampe]

If someone earns £15,000 a month. They have a student loan. They pay in 10% into their pension.
They take home less than £7,000 a month.

You don't walk on pavements?

This poster and others like her talk out of their other end!
Know nothing about taxation, band rates and it's just jealousy speaking.
Part of the anti private school brigade no doubt too.

America, you work hard and you prosper.

UK, you work hard and your taxes go onto funding people who think their measly taxes are running the country!

Hopefully, all the millionaires leave UK, that'll serve these greedy non contributors right.

If you are earning £15k a month you are not actually worth that much compared to someone doing a useful job like a nurse or collecting recycling. So the tax is just a correction.

The student loan is part of the user pays philosophy brought in under Cameron. Today polluter pays would be more useful for the planet

You're right but that would be a massive over reaction

And then another company/person would see the gap in the market, open a business and do the work

@gonnabeteoubleemma
Agree with you, I referenced your post to highlight the other poster's ignorance.

And yet the sensible people pointed out that putting money into your own pension and paying off your own debt is not money taken off you 🙄

It's a necessary evil to keep the country running but it is a pile of fucking shit. No other way to look at it frankly. No one likes having this money taken off them. It's all hard earned whether it's minimum wage or £1mil. I feeel like crying when my bonus is halved. It could make a real difference to my life.

Student loans are the killer. So missold. I think that there should be a PPI type class action claim. I've been paying for years and still owe more than I borrowed - including bonuses because of the extortionate interest rate.

Another one of those threads where the OP drops a controversial post then fucks off, leaving everyone else bun fighting. It’s happening a lot lately.

Yeah. What’s that all about then? What’s the reason for it? It’s weird

He absolutely pays the rates of income tax the OP is quoting. The only ‘loophole’ he uses is to put more money into his pension.

You are working July-December for free every year. Totally wrong.

Except for the THOUSANDS put in their own pension, of course.

10% pension contribution has a big impact on a big salary slip… but also makes a hugely wealthy pensioner.

And the employers contribution will be significant too.

’Take home’ does not give the true picture here. Look at ‘take home plus pension savings’

I'm always suspicious when an OP posts and disappears.

Either they're disappointed in the lack of concern for their plight (£7K a month puts them in the top 3% of UK workers), or they're a troll. Either way, I don't care.

Great stealth boast. Lovely.

You do contribute a lot to society in the work that you do. It must give you both a great sense of satisfaction.

Before I retired I paid tax at the 40% rate. To be honest, I never even thought about it. I was paid through PAYE and never really checked my payslips. I did used to receive the annual letter from the Government telling me how much tax I had paid and where it was spent. At that point I was a net contributor, paying more in tax than I used in services.

However, when I was younger, I was a working single parent with 3 children in education, receiving child tax credits so I was happy to pay more tax when my situation changed.

People start paying the 40% rate with a £50,000 salary. The OP on £180,000 has a 45% tax rate. I don't think that is too high.

The vast majority of people in the UK could only dream of earning £15,000 a month and many people earn that in a year. I doubt that many people would have much sympathy for someone who is only left with a meagre £7000 a month to live off after taxes, loan repayments etc.

Depends on the pension - NHS one is definitely not a savings account espevually if the Telegraph has their way

'The higher earners may use private education, and have private medical insurance, but that doesn't mean that they are not relying on the general public being educated, fit and well.
A higher earner may have been educated privately, but it's very doubtful that everyone they need to earn has also been privately educated.
It's an absolute fallacy that people who don't directly use some services don't get indirect benefit from them.
Again with the welfare state, a higher earner may never need to use that safety net, but it is there in case they ever do. People's circumstances do change.
Society would be far worse if there wasn't a safety net to stop people starving and freezing to death.
If people are feeling peeved, then it's their misunderstanding and lack of knowledge that's causing it.'

All of this.

Countries with more equal economic positions are happier than those with massive inequalities. I just don't understand why people would want to see people without decent healthcare or able to keep warm just so they can keep even more money in the bank or have even more weekends away.

And before people say anything about envy, I have had a very nice lifestyle and am happy to pay tax so we don't live in a country where people are sleeping out in the streets.

Goodness I was just on a thread where the OP was asking for a board for those well educated people who earn over £100k and so are actually able to understand high brow concepts such as tax (she wasn't actually one of them as she only earned 80k, but there you go). If you haven't checked it out you really might want to, by the sounds of it you could be bezzy mates.

All the whinging over 5%!!!

Don't think you can now!

Well the point is it has worked horrendously badly and has cost commuters a lot more than it should have done. But in any event is not a tax. Nor are water rates a tax because it goes into private companies not to state coffers.

I don't think banks lent to fund house purchases because of tax and regulatory systems as much as they were a safer and probably more profitable investment. And I don't at all see how this relates to foreign investment in UK property which is far more related to their making massive profits and not having to pay taxes like stamp duty unlike most UK residents. Whatever housing costs are in no way a tax and you're being ridiculous to include that in your tax computations.

I don't think people don't trade down in the UK because of stamp duty. That's not my experience. They don't trade down because of this mentality that their home is their castle and they don't like to move. I know lots of people who stay in enormous houses with just two people in them because they don't like change.

It's muddying the waters to include the loss of a benefit as a taxation, which is why I imagine you use marginal tax rates. However, in my view there is no entitlement to benefits and we should concentrate them in the hands of those who financially need them. So again using the loss of potential benefits when calculating your tax liability is misleading.

What if the work can be done by a person/firm from abroad???

But it's not just 5%, you lose you tax free allowance on top, so it's a big jump. I'm not saying I'm not happy to pay it. But these kinds of salaries come with so much sacrifice. There are so many haters, but we are essentially holding the country up.

Surely there's a huge difference for the person earning £50k or just over? I mean they might as well stick at £49k! That's a bigger jump!!