Anyone else lost a bit of ambition now they’ve been taxed to the brink?

[Peasontoastt]

I used to be extremely ambitious and was really eager to reach some sort of financial security. As a consequence, I’m in what’s considered a highly paid career, I work hard and it took me many years to train.

Just as I paid off my student loan (which took many years), I then had a baby and returned to work to be stuck with the childcare dilemma. I struggled through that phase and have come out the other side but being taxed so much, no child benefit, still paying for nursery even though dd has ‘free’ hours now. It’s likely that savings are going to be bashed next, so what’s the point in even putting anything aside when there’s likely going to be a 4K cap on ISAs.

I used to feel so ambitious and of course I know money isn’t everything, not by a long shot. But having worked my way up the ladder and with huge responsibilities only to feel penalised financially for doing so…what is the point? Yes I have more financial security than someone claiming benefits but equally, I am not being flippant when I say a few years of resting and being at home and being frugal is starting to seem so much more attractive. Has anyone else started feeling this way? I feel taken the piss out of by every financial angle!

What I would like to see modelled is the UK after a decade or so, what will our taxation and spending going to look like then, is this short term pain while our demographics shift, or do we need a different model completely.

We probably need a different model as the demographic changes are likely a permanent shift, no country has increased birth rates & immigration isn't popular.

There are other things to consider too as those now approaching pension age are less likely to own their own homes which means more costs. I don't think the NHS model works with an ageing population

The frustrating thing is this has been coming for some time but governments have ignored it.

What’s the difference? They’re both depriving the Treasury.

She’s a net beneficiary. If I keep my income just under £100k, I am still a net contributor. It’s a massive difference.

The principle is exactly the same. What’s sauce for the goose …

We don't need to have manufacturing in our country. If it is a low paid job, maybe that's because it's a low skilled job and should be treated as much. Maybe something like shelf stacking or cleaning should be for students working part time for some extra cash. Or someone working weekend shifts for a bit of extra cash. Don't expect to make it a career.

What’s the difference? They’re both depriving the Treasury.

You don't see a difference between someone working 1 less day & paying 30k in tax vs 37k vs someone only working 2 days, claiming UC & social housing? Interesting!

The tax boundaries have needed to change for a long long time. For many, as we can see here, it just isn’t worth it to go the extra mile!

I dont know if you have read the news recently but they are actually trying their best to screw over the very weakest in society by taking away PIP!
if you want to live in affluent areas and live the high life fine but dont expect any sorrow from the dregs of society that you need to pay tax and are too dumb to work out that EVERYONE pays tax! And you are very presumptuous to know think you know my circumstances! Don’t think people earning £20k a year are ok to pay tax, have rent over £1k a month and struggle to shit to survive. Oh no, we must all look after the elite mustn’t we! I am thankfully not in this catagory but I have sorrow for that are not greed for what I have to pay to the tax man. My anger is to the government and how it spends those taxes!

You really can't see the difference? There is no hope for this country.

No, it’s not the same principle. I expect people to do everything they can to cover what they take from the state. That person is not doing that. Someone earning £99k is paying over £30k in tax and NI. They are still paying for other people to sit on their arse.

It isn't. The latter is gaming the system to deliberately limit their contribution
.

I’m really enjoying the outrage of tax avoiders when their behaviour is put in context. 😂

Bevause you’ll still be better off and have more choices and security, than most people on wages lower than yours. Many peopld cant even HOPE to have savings, just for starters.

Are you referring to the lower earners or the higher earners?

This.

Would you recommend anywhere in particular?

Who do you think is sitting on their arse?

One is obviously getting UC from the state. The other is working and contributing and just choosing to voluntarily work less hours and this get paid less

I have just witnessed a homeless man getting his food pinched whilst at work so all you who earn high still not believing you are privileged get a grip.

I know you can see the difference.

You are usually one of the most sensible posters on this board and I have liked many of your comments. I’m going to choose to believe your account has been hacked.

It is "but for the grace of god I would be" as some of these will have to go on benefits at some point.

For everyone asking the lady who moved offshore in 2022. I believe earlier in the thread she said she lives in the Cayman Islands.

(but I could have gotten mixed up)

Someone else suggested Switzerland. I personally know people who have moved to Portugal, this was years ago though and the benefits may have changed.

And we all know many of those high earning part time women then also end up running things like the PTAs to help schools raise money which then gets spent on the feckless's children. Takers don't just take from the system they take from every aspect of life.

One of obviously getting UC from the state. The other is working and contributing and just choosing to voluntarily work less hours and this get paid less

My cousin is a consultant & works really hard. She sticks to under 100k largely for her dc because working more hours means little gain financially for a lot more sacrifice. I don't see her as taking from the state, it's interesting others do.

I doubt it is true. UC won't allow a healthy single person to only work such few hours unless she has health conditions.