The wealthiest families should pay the Coronovirus bill

[WellDoneBridge]

Aibu to think this is VERY unfair the household incomes of £100k plus should be tax EVEN further?!

Ffs... Anneliese Dodds. What a joke!!!!

So you don’t like inheritance tax or tax on income... do you know how the nhs, schools etc are funded.
Everything thinks they shouldn’t be hit!-
That’s not shocking.

Look I live in London and pay childcare, I know it costs a bomb but equally if as a household you clear 100k you are doing very well, I don’t buy the BS that you aren’t.

@BlueBrian Why should UK consumers not be paying the true cost of these items - including all the costs a company is supposed to pay for their operations in the UK? It would certainly help level the playing field for the small independents that compete with them.

@ragwortyour life sounds very dowdy and sad. Sorry pp.
how can you possibly decide that from the details given?

@hadenoughbleach

Higher earners already DO pay more tax; those earning over £50,000 pay 40%, which is double the rate of those lower than that salary, then the top rate of 45% kicks in at a basic salary of £150,000...how much more do they want from people???

Agreed

It would certainly help level the playing field for the small independents that compete with them.
Don't think they'll be many votes in telling UK customers they've got to pay higher prices to subsidise uncompetitive small independents.

[quote WellDoneBridge]@ragwort your life sounds very dowdy and sad. Sorry pp. [/quote]
Oh dear OP you have just sunk yourself even further down here. @Ragwort lifestyle sounds bloody fantastic, happy content whereas you scream immature poor little rich girl who has zero grasp on reality. Come back when you have lived a little and see if you still have the same self righteous obnoxious opinions

[quote WellDoneBridge]@ragwort your life sounds very dowdy and sad. Sorry pp. [/quote]
And you sound like a right b*h

@Ragwort if you only work part time on barely more that NMW, I am assuming that you don't pay tax at all or very little, so yeah, you should be ok about paying some if you need to..

@Uhoh2020 lol

@Uhoh2020 lol

We're wealthy and happy to step up. Happy to pay full whack tax. It's not always a fair system and I'm always shouting at the telly about how it's spent but still would rather live with our flawed system than many others.

I've also cancelled my amazon subscription, and we're trying to buy local or British sourced as much and mugging up on which companies behave ethically. I think those of us in a position to choose where we shop should make better decisions about where our money is going to.

Nothing wrong with progressing and doing well for yourself ( we are) but sheer capitalism gets you where America is right now.

@Uhoh2020 you scream - I have a Michael Kors bag that I bought in Turkey 🤣

Honestly. Living in London housing takes most of your income. I’m currently working part time as full time work would increase our childcare costs to a level that would make it pointless both of us working. We’re on around 90k between us and while we’re not hard up by any stretch of the imagination we can’t just throw money around. We haven’t been abroad since our kids arrived, and we can not afford to buy a 4 bedroom house (we have 3 kids). Not hardships but there is the impression that people on our sort of wages should be rolling in it. We’ve both worked throughout this pandemic and are frankly exhausted. Our jobs are tied to London so we don’t have the option to leave and we live in the cheapest London Borough. As I said, were lucky in so many ways but not everyone on 50k + lives the life of Riley.

@WellDoneBridge sniffed a few lines tonight have we OP? feeling brave?

It should be a wealth tax not just on paye jobs.

Many, many people have vast wealth (inherited mostly) yet the tax is mostly paid by people working (yes obvs well paid) jobs who will never accumulate that level of wealth yet are seen as "the rich". If you live in London in my area then 2x children cost 50k pa for childcare (I do not work as a result of this).

Disclaimer - we have an ok income but not rich by any stretch of the imagination

The interview I saw with Anneliese Dodds earlier was suggesting a wealth tax rather than income tax. She was very evasive when the interviewer tried to pin her down on which assets she proposed to tax, whether she was proposing to go for savings, house values, pensions, investments or what and wriggled out of giving any answer
@caffeinebuzz While I agree with you in principle, the problem is that companies could relocate overseas rather than pay their taxes which then leads to job losses, loss of revenue from their workers and slows the economy too. It's a balancing act I'm glad I don't have to resolve

@MrsTravers agree. My DH both come from modest backgrounds in the North. We have both now got good jobs in the SE and earn well; however, we have had no help with a house deposit or childcare (no family living close by). For the last 4 years we have spent 50 per cent of our after tax income on childcare and mortgage (and we live in a 4 bed semi with a postage stamp garden). We don’t have expensive holidays abroad.

Most of our friends on paper earn a lot less then us, but have far more disposable income as they’ve been helped with deposits/childcare, even inherited properties etc.

I don’t mind paying my fair share, but if I get taxed more then it wouldn’t be cost effective for us both to stay in our current roles. Numerous studies have shown tax is like a bell curve. If you hit people too much then revenues drop. People still need to be incentivised to work.

All should have to pay a little more and im a low earner
But close loopholes on mega rich who use tac havens etc
Those who earn more already pay more tax , someone on £50000 will pay more than someone on. £20000
And if you massively tax someone so that £50000 after tax isnt far off say £25000 why will people bother doing higher paid potentially more stressful jobs ? Longer hours, maybe years of trainjng etc

How much do people propose people earn before they get taxed more? Tbh the tax in this country is very low, the services are underfunded.
I don’t think 100k households are rolling in it but yes they could probably pay slightly more tax. I just hope they calculate it correctly rather than like the bullshit shambles that is child benefit calculations.

@WellDoneBridge - honestly you sound extremely immature and like you have no idea what goes on in the real world. If you can't manage on 100k how on earth do you think those on NMW manage? Lots of those are our keyworkers. Fair enough you're very young but maybe volunteer in a food bank to see how 'the other half live'.

Paying back Covid should fall on EVERYONE on a sliding scale. Always bloody tax people who have managed to do well for themselves - some of us have come from very poor families - my parents had very very little money and despite losing a parent as a child I worked hard, sacrificed things, saved and now earn well. Sure the country wouldn’t run without lower paid jobs but it also wouldn’t run without the fuck ton of money that higher paid worker pay in to the system to give help give everyone else’s kids an education and everyone healthcare. It works both ways! Without high paid jobs, specialists would simply work in other countries where they would pay better.

We all have a responsibility to cover these costs and it completely makes sense for those who earn enough to absorb these costs do so. However, my concern is that if we tax too high, it will drive people to find loopholes to avoid this and we may end up with less in the pot overall. It's a difficult balance to find and, morally, it's sad this is the case but tax too high and those high earners we're so reliant on will go elsewhere which helps no-one ☹️

😂 Everyone bloody does this!
(I’ve ranted about it many times on here)
Many people, like us, are tied to expensive areas because of jobs. DH makes £65k pa but around here that’s very average. We actually receive at Least 10k less because of student load and professional fees whilst also being excluded from every type of funding

We’re seriously considering DH dropping to 4 days as it makes barely any difference to what we get. We are not well off.

They need to look at wealth not just income.

My neighbour on my right is 65. She is a retired nurse so likely never earned more than 50k. She has a buy to let to top up her pension and a holiday home. Her home is worth about 1m but she paid about 30k for it & has released equity to enjoy more in life (no dependents).

My neighbours to the left earn around 120k between them & are in their 30s. They are renting & paying 2.5-3k a month as want to be in the catchment of a good school & around 1.5k in childcare costs. Saving into a private pension as can't rely on state & saving for a deposit.

Who's wealthier?

@AlexandPea

The wealthiest already do pay proportionally more in tax. For example (yearly figures below):

• Earning £50,000 you pay £12,000 in tax (24%).

• Earning £100,000 you pay £33,000 in tax (33%).

• Earning £200,000 you pay £83,000 in tax. (41.5%).

That's not how tax works!

If you earn 200k with a tax rate of 41.5%, you don't pay 41.5% on the entire 200k

I don't know what the actual tax brackets & rates are so these are notional figures to show the calculations, but the way it works would be:
0-10k - not taxed
10-50k - 24% = 9,600
50-100k - 33% = 16,500
100-200k - 41.5% = 41,500
Total tax = 67,600