What do you think of the 5% tax hike for those earning more than £150k - good or bad?

[soapbox]

????

I wasn't suggesting 8/hr was minimum wage but rather that such hourly wages depend on the minimum wage, which is set by the state.

Looking at minimum wage figures now, actually, I see that they have increased at a very substantial real (inflation-adjusted) rate between 1999 and 2007. Interesting.

I think raising the tax allowance is quite a good idea. Also good for part time (lots of mothers) who obviously earn proportionately less.

They could also allow transferable allowances, so if one partner doesn't work, then their tax allowances could be transferred to the working partner. This would substantially reduce the tax burden on some families and allow the economy to grow as they could spend more. The VAT receipts would then increase as people would then spend on luxuries rather than necessities.

I too am revolted by this "I'm on the bus, ding ding" attitude.

What is wrong with you people?
Have you no empathy?

You are so busy being smug you don't stop to think what total wankers you appear to normal people

We are normal people doing normal jobs and leading normal lives ...........who are you to judge ?

If we are wankers then I dont suppose you want me to share my pot with you which is what this is all about. Redistribution of wealth.

I don't need it
I have plenty thanks
However, unlike you I don't want to keep it all for myself
I am happy to share, to pay my taxes.

(when I say normal I don't mean normal income, I mean normal, sympathetic, caring humans who look out for others and don't jack in their business and make lots of people lose their jobs just because they are greeeeeedy)

i wasn't referring to the minimum wage at all.

was saying the wages we got say in 1986 for admin type work hasn't risen hardly at all now.

was about £12,000 and is about £13,000 if you're lucky. that's what i don't understand.

'share my pot'! lol some of the bosses i've had in the past have got very very rich because of the hours i've put in

Right now, there's lots of debate about this tiny 1% of people who may have to pay tax and the view seems to be, "screw 'em. They earn squillions so they can bloody well pay". But as lots of people have pointed out, how much more does this REALLY raise when you consider that it is only 1% of the population?

So then, let's extrapolate that a few months/years after they impose this tax, then they'll say "Mmm, okay, that worked out. 1% of the population was a bit cheesed off and everyone else was happy. let's see if we can now increase the actual amount we get by saying everyone who earns over 100k must now pay 45% tax".

You see where I'm going with this? This tax is easy for government because it makes the 99% of the population who don't earn that happy that those rich feckers are being punished but... it doesn't actually raise more cash. So you just wait - labour wins the election off the back of everyone's happiness that the rich are being screwed and then see what happens....

omg
are you a drug dealer?

Disclaimer: I don't earn 150k but am not intrinsically in favour of a hefty tax rate for the super rich. If we have to have more taxes, I'd rather they raised them it so that everyone earning more than a specified amount, say 40k, pay an extra 1 percentage point or something similar. [haven't given it too much very specific thought]

LOl at all these misunderstood greedy people asking why people are hostile to the super rich.

See, we're not at all hostile to Countess Dracula, we love her.

And I bet she's super rich. She don't sound greeeeeeeedy though.

LOLOLOL

"First they came for the communists....

I have no idea what the definition of super rich is.

I have a high income and I will be affected by this, happily. In fact I have wondered for ages why they haven't done this.

This is ridiculous. Its like a mini government ! You seem to be suggesting that I should continue to run my business whether I want to or not just to keep 150 people employed!

If I chose not to take the risks anymore because the govt is taxing me to death over it is that not allowed ? My God we will all be communists soon.

FWIW I do share my pot alot..........donate at least 5k a year to charity and will take great pleasure in paying my tax bill in Jan which comes in at a cool £114k.

MP runs away from the thread to hide and await some more rich people bashing...........

Oh, how I love a good punch up with my favourite garlic fearing pinko... Pity I am in such a damn good mood I can't think of one nasty thing to say.

except maybe "Go MummyP!!!"

Am highly diverted by the idea of the super rich being wicked Lavour's first victims.

MummyP you're a scream.

Hey
I can bash my own can't I?

Oh I wondered when you would come along Athene

i'd quite like the super rich to piss off out of london. might make it a more interesting place.

I've come to the conclusion that it's all a pr exercise anyway and would make very little difference. It's supposed to make people who are struggling think 'good, they should get more money off the rich'. In actual fact the government could make countless savings all over the place, eg paying a consultancy company GBP1m a month to advice whether/how we can have id cards. Which in itself was a pr exercise to 'help stop terrorism'.

so you earn £300k (if on PAYE) and give £5k to charity
big deal!

Not so much victims, as all smoke and mirrors. So either there are extreme long term plans - which admittedly implies long term planning and committment which does seem unlikely! - or, it's all smoke and mirrors. This tax doesn't really DO anything except make a big chunk of the population feel that they can lean back and say, "Yes, the rich deserve it. Go Labour".

My earlier post might have been slightly conspiracy theorist, I concede.

Mummypoppins - if your business is so risky, perhaps you could pay yourself rather less than £150k and put the rest away for a rainy day? That's a win win solution surely?

You do know though that as a proportion of income, the poor pay more to charity?