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

[soapbox]

????

Although having conceded that, the point I was really trying to make (I think - it's getting blurry) is that it's all very well to scream and shout about how if you earn 150K then you can afford it, but where's the line? 120k? 100k? 60k? 35k? Is the line simply £1 over whatever you earn?

CD.................Im not PAYE .........its tax deductible daaaahhhling and one do so like to help all the poor people.........

actually
£308,435 to be precise

I'm with MP

Tax the rich and the rich will leave and with it go the opportunities and employment they create.

If there is no reward for hard work then enterprise dies. Communists aren't renowned for their entrepreneurs are they?

2.5% change in VAT might not make a direct difference as prices may say the same but on a business with £1million turnover that's one person's salary.

Good grief, do you people really think those who make 150K/yr are 'super rich'?

ah precisely

So more

And you give 5k which is tax deductible anyway

This is something to crow about?
how sad

No of course not
that is small change to them

Then who is the greater fool southeastastra ?

I had a look on Rightmove last night to see if it's really true that you can't buy a habitable property in London with less than half a million pound mortgage. Well I seriously doubt that's true, but more to the point I found that you could buy a whole parking space in Kensington & Chelsea for slightly less than my 3 bedroom rural house with loch view in Scotland. You Londoners are missing a trick - not that I want you all to move up here and push up our prices even more. But honestly, if you can't stand the heat... get out of Hell! And don't whine about it to the rest of us.

me and millions of others i imagine

i lived in london for years, was very affordable. in the last 6 years or so though i can't imagine any of my children being able to afford it. which is a shame.

One useful thing to come out of my drubbing at QC's hands last night was that, yes, those earning over 150k DO count as super-rich, when you compare them to 'average' earners who earn around 20k...

So stop bleating.

It's a label usually applied to footballers, rich pop stars, oligarchs etc
Those who have many millions or billions
Those who have many houses
etc

Not a family living in an average house in an average suburb for eg

MummyP, you have to remember that Mumsnet is not a fair sample of the population. It is very steeply slanted to the entitlement culture worshippers.

CD, I always think it's a lot easier to give away 40% of your income if you have a hefty income to start with. I think it's the people who make say £40-£60k who shafted with that 40% tax. This country is well suited to wealthy and to the poor.

Anyway, as I said before, I am in a fantastic mood and nothing you or anyone else could say here will spoil that.

Ps MummyP if start talking about local church schools and how CD's tax money funds them, you will suddenly see her dive far away from her socialist tendancies.

mummypoppins- if CD is correct and I have no reason to doubt her calculations the percentage of your income you give to charity is paltry. Yes it is your choice and you could choose not to give at all. ( and I would hazzard a guess that a proportion of this at least is tax deductible)

I feel that asking those who earn unseemly amounts to pay more is not unreasonable.

Mummypoppins, if you close your business (and retire or emigrate) I can guarantee you that another business will open up and hoover up your customers.

I have no idea what business you run but nobody is ireeplacable. You are not doing your employees a favour by hiring them. They work, you pay them, end of.

My DH owns 3 restaurants but if we shut them something else would open up.

Well said that fox!!!

actually athene my opposition to church schools is that they are discriminatory which is another issue entirely. I am happy to fund (and use) state schools.

Thanks for the suggestion Twinklemegan but unfortunately neither I nor DH have a job that can transfer out of London.

I am not whining, merely stating the facts. £150k in London, after tax, does not propel you in super rich territory as your research on house prices has confirmed.

I will state again, I don't have a problem with paying more tax but this particular gimmick is a useless headline grabber that will lead to increased taxation for the whole population in due course and bankrupt the country.

You have been warned.

P.S. What would have been really useful in terms of helplinf families and increasing tax receipts and indeed empowering for 50% of the nation would have been a move to make childcare tax deductable. It is shocking that have a driver is tax deductable but childcare isn't.

I think being made here (and I really am leaving ater this) is that if you take away people's reward for having worked hard, then hsrd working people will choose to live somewhere else.

"if you close your business (and retire or emigrate) I can guarantee you that another business will open up"

Like, you see lots of people ready to invest into new businesses around?

Maybe you should share this rare insight with the government so they don't unnecessarily worry that the country is in recession and needs serious economic stimulus to get people spending.

Go and live somewhere else and someone else will open up a similar business. Nobody is that amazing that they cannot be replaced.

I'm not saying someone's business can't be replaced.

I am saying that in the current economic climate, nobody is interested in investing, especially into new businesses.

Is this really news? Do you know what a recession is?

It is when new businesses don't open when others go down, and hence unemployment keeps rising.

they need to give extra money into children's services. Just had a friend in tears. single mum, severely disabled child and twin babies. The SS want to take away her respite care for budgetry reasons. How the fuck will she cope alone with a child she can't lift and babies?

See, I said they always strip services away from the poor and disadvantaged first. Those on 150K should stop bleating.