NC for this. Not able to capture all nuances in this one post.
i am proud to support the sick child who needs a taxi to school; the person who has been unwell all their lives so they depend on benefits and so I can go on.
well, last week I paid a tax bill of nearly £30k. Today I learnt a family of 6 gets around £10k pa and a family of 5 gets around £6k pa in benefits.
well, when I now imagine such families I pay for, I am thinking of about 4 families of 6 and 5.
I had no real parameter to make any comments on this- a few years ago I paid 200k in tax here and there- beyond the fact I am a higher rate taxpayer.
But now consider this: due to being taxed to the bones on various incomes and investments I receive/ have (all earned from nothing and through sacrifice) - independent of those on benefits etc- my family and I are winding everything down to move abroad.
IT IS THAT that dawn on me, that IF the governments and ‘some’ of those in receipt of benefit - not talking about the sick kids etc I referred to about- THINK there is an infinite number of people who will continue paying taxes, they are in for a massive shock.
as an investor, I even started being concerned about those people who can work but are not working, wondering what precautions they should be taking now, in preparation for more tax payers ceasing to being one.
i can work a whole year, but due ti may earnings, i only need to work for 6 months a year or even 5 months before it become just meaningless.
Not well written as need to work to pay the next POA tax, but i thought to share and implore those who fully rely on benefits as an alternative to whatever, to make plans for when there will be ZERO benefits available as the country will have none to pay into the coffers to support that massive bill.
yes, I have a caring nature and thing about the future so I was not surprised I started advising myself ‘as someone on benefits’ who is facing fewer tax receipts in national coffers. I would rather people keep getting reduced benefits so they can keep getting it for longer. Those are the decisions millions of us make when faced with an uncertain financial future. Why is it different for some?!