To Stop Generating Taxable Income?

[GabrielsOboe]

Quite simply, I am done with being taxed to
death, whilst getting little or nothing in return from
the state.

I’m retired and pay a lot of tax.

The last budget was said to be a one off tax hike. Why do Reeves and Starmer need more?

This exactly. We don’t benefit hugely from public services.. kids went private, private health as impossible to see a nhs doctor, pay for rubbish collections. All very well people saying what about providing for others but it’s easy to be generous with other people’s money.

This was the thinking. Many pensioners know full well more tax needs to be raised and think it’s far fairer that it comes from them rather than their grandchildren.

If you don't benefit hugely then good for you. You can get private schools, health insurance etc. But you can't have private police or fire service, or roads, bin emptying etc.
You don't get more out of the state as you don't need it. You are very privileged to be in that position. Some of us are very reliant on it. Don't envy us.

Move to Denmark ...
then understand

But you do benefit from the education and health of others. Without a fit and educated population whatever you do for money would be far harder if not impossible.

It's easy to look at the direct benefit you get from tax, but that's a foolish and simplistic viewpoint and misses a huge amount of what taxes actually do for you indirectly.

Go on to benefits. Nobody can judge if you have already paid for them.

Well said @randomchap.

The last budget was said to be a one off tax hike. Why do Reeves and Starmer need more?

You need growth to fund public services. No growth = increased taxes. Add to that an ageing population so even more tax burden

What we desperately need is growth but that's eluded us for nearly 2 decades (the financial crash). Investment helps growth but again we have had years of underinvestment. It's disastrous!

Ha yes. They pay for bin collections? Do they think the bin men were privately educated?

You chose to spunk your money on school fees and private health care, that’s on you. Same
as if you choose the Range Rover £100k
car over a £30k fam-a-lam car … there are options.

And does the same principle apply to everyone who isn’t a net contributor? So those on top up benefits for example? You’ve tied yourself in knots there.

Reminds me of this poem. I'm really not a poetry person but I bloody love this.

I imagine the OP wants us to get down on our knees and be thankful to her for paying so massively much in taxes.

Go for it. Enjoy your life instead of complaining on MN.

Yes we chose to do all that because the other option that we fund via tax is not fit for purpose (excluding schools)

I can’t think of another country where higher rate tax payers are scorned so much. You’d think it would be the opposite!

I think they need about 50 billion pounds!!

You will still pay tax if you can retire ... looks like it might be more soon

No one is scornful of higher rate tax payers in general. Just those who whinge and whine about their privilege. And those who don't understand that they wouldn't be able to make that much money without the society around them. You know, morons

You might be able to achieve this if the only thing you ever bought were wine and cigarettes? CBA looking it up right now

Yes of course you’re right in that way, and I’m sure my children will struggle too.. it’s so much harder for that generation to build wealth now. Unless we move away we can forget inheritance by the time we’re taxed on what we’ve already been taxed once on.

Thank you for illustrating my point!

We've done pretty much the same. The juice is not worth the squeeze as the saying goes. We have bought an annuity, taken some drawdown, and have other flexible savings if needed. We are not going to move house. Recently paid huge amount of cash for DH's hip operation privately. We obviously still pay council tax, VAT, etc etc, and have been net contributors our entire working lives, so no regrets.