Did you learn economics from Paul down the dog and duck ?
Yeah. He wrote it on the back of a cigarette packet for me as well.
You are expecting way too much. If you think of it like treating a patient brought into A&E with multiple life threatening injuries, then it's coherent.
Nah, it’s more that the Current Events section is an America-centric zone.
More that people on this forum love whingeing about starmer over the slightest perceived shortfalls, so I can only assume the silence over the budget is because they are too embarrassed to admit they largely approve.
Eh, it's yearly
Pardon?
It's not 60% on the yearly salary, it's incremental.
@MadMike
Criticism of Starmer or his version of the Labour Party isn't a binary thing. Think of it more like a spectrum. There are things that make the blood boil and there are things that seem good. And there are many things in between.
I know the concept of marginal tax. I’m telling you I’m on a 60% margin, so I keep only get to keep 40% of the 10k pay rise. That’s 4k over 12 months. Or ~£330pcm. NI contributions bring it down to about £300pcm
It's a tax of 39k on 120k
Exactly. It was about extracting as much tax as possible while trying to help the worst off and recognising it had to be mindful of the cost of living, eg fuel duty freeze.
So bus fare hike and fuel duty freeze = Labour doesn't care about green policy.
Indeed and why should it have been? You get significant tax benefits from saving into a pension because it is for your old age, not a vehicle for avoiding IHT.
No ya numpty. You’re subtracting tax in that example, not take home money. It’s a 6k tax difference on 10k extra income, ergo 60% tax. Not 60% take home.
Wow, just underlines how difficult it is to save in the UK. If you're able to move to a low tax country, even for a few years, the amount you can save gives you a little hope that you can have some sort of retirement.
Your right, how da feck does that work.
I have no idea, utterly bizarre to link investment in 60+ properties and a £300 payment.
It's one way, but can't access it til 55 or whatever.
Their problem is that each of the 60 houses has Netflix.
Tax is high on income. We are very bad at taxing wealth.
your only real option is to chuck anything that puts you over 100k into a pension until you get past 125k. unless you desperately need the 300 a month.
Apparently they're managing the 60 properties full time, because the agency fees are too high.
It works like daylight robbery. And I'm not averse at all to paying high taxes, I'm averse to paying taxes so governments can piss it up the wall or line the pockets of their cronies.
