Does earning more than £60k a year make you rich especially in London?

[Payinglotsoftax]

Labour has said that as part of their manifesto they will target earners over £60k for higher taxes. My personal view is that Jeremy Corbyn targeting those earning more than £60k a year will target some families without a high standard of living particularly in London and the south east. AIBU?

I don't think anyone is really bothered about a few high earners leaving the country tbh

Unless you understand the implications of their exodus.

There won't be an exodus. It's been frequently threatened and never happens

You clearly don't live in London? The exodus has already begun to the great detriment of the UK.

www.theguardian.com/uk-news/2015/jun/29/goodbye-london-moving-to-brighton-house-prices

"Historically migrants, internal and foreign, would arrive in the inner city and graduate to leafier parts as their incomes increased. That trend is reversing as central properties become more desirable. In the future there will be a hereditary class of central Londoners employing a financially precarious, casual labour force commuting in from the outskirts, grinding out a low-paid existence, noses pressed against the glass of the glitzy quarters. It is a process described by Alan Ehrenhalt, a US author and chronicler of urban trends, as “the great inversion” – a transition from the 20th-century model of poor downtown boroughs surrounded by affluent suburbs to a 21st-century pattern of exclusive enclaves and poor migrants encamped on the periphery."

I don't think anyone is really bothered about a few high earners leaving the country tbh

Says it all really.

We are set to lose 1000 workers from EBA and the EMA and that's just to start with. Many of those will be higher tax payers, but hey, fuck em all.

I do live in London. I have literally no idea what that link is supposed to prove.

There are a 32 million people working in this country so the impact of a few thousand is negligible

The impact isn't negligible. It takes time for these things to happen and then it becomes the status quo. It's a real shame as it doesn't have to happen.

Do you know what the impact is then?

I said it at 11:47

That's not an impact. That's nothing more than you suggesting you will leave

An inversion- London being taken over by wealthy investors (usually foreign) and those who "serve" them being relegated to the poorer outskirts. The article explains an inversion - a transition from the 20th-century model of poor downtown boroughs surrounded by affluent suburbs to a 21st-century pattern of exclusive enclaves and poor migrants encamped on the periphery.

Anyway, it doesn't matter if you don't care or don't see it. Good for you.

You seem to be getting confused. We're talking about leaving the country, not a city.

Wealthy investors have been taking over London for many years- Have you just moved here?

I'm not confused. I think I've been clear.

I have lived Zone 1/2 for over 20 years.

Right. So to repeat my original point- I don't think anyone cares about a few high earners leaving the country

It's usually inexperienced Londoners who refer to where they live by tube zone

Insta that's nonsense. On MN I'd refer to where I live in London by zone on a thread about housing/income as it is relevant. I've been a Londoner for 40 years.

I refer to Zone as it's more anonymous. I would rarely ever say it in real life as I'm not trying to be anonymous!

Yes it's a bit of a MN thing too. Perpetrated by loads of mumsnetters who moved to London in their 20s - at an age where people are obsessed with how far away from central London they live.

histiny do you seriously think you will pay less tax in those places?

Though you will be taxed as a household in some countries, which you might like by the sound of it.

Germany is pretty well set up for single income households - the "second" earner can end up paying 47% on part of their income even if they earn minimum wage, if their partner is a highish earner.

I was obsessed with getting a job. Hence my move to Zone 1.

do you seriously think you will pay less tax in those places?

Eh, did I say I was moving? I don't think I am.

We have a family income of just over £50K in London. We live frugally and don't have a car.

There appears to be another thread on the same subject - but £70K not £60K.

This is an interesting debate, and my conclusion is that it is NOT rich in London. And I love visiting but I am SO glad I do not have to live there. And I feel so much for anyone struggling. SO wrong.

We as a nation are so rude about immigrants but these Russians and Saudis and Wealthy foreigners are right royally messing up our fine capital city. And probably not paying the taxes required to support it. They are worth SO much less than those poor people escaping war or persecution, who IMO, should be welcomed and given safe haven. And, if they do end up here, do all the dreadful jobs on min wage.

Off to despair now....

IMO 'rich' means you can buy/do what you what, without having to think about money.

And no we don't earn nearly that much together!

Combined 90k with a 1 year old in zone 2 (we have an unusually good deal on rent though) - we're just about managing to slowly save for a deposit.

OP, can you quote your source? This is not the figure which I heard quoted on the Today programme the other morning. In that programme it was agreed MPs (on approx. 74K, more for ministers) are well paid relative to the average salary. Surely whether you consider yourself rich (& who does?) is about income, assets and liabilities.