‘ Millennials can’t pay any more’ – Covid-19 will mean tax increases for older gen

[AtW]

“ The Chancellor will target older generations with tax rises on pensions and property wealth so the young are not left to pay for coronavirus, experts have warned.

Millennials are already paying more in income tax than ever before, with receipts among the age group reaching £34.4bn in the last tax year, an increase of 80pc over the past five years. They face even heftier taxation if tax break increases do not keep pace with wage inflation.

In contrast, the income tax bill for baby boomers has fallen by 12pc to £55.5bn over the same period, as members of the age group reached retirement, received smaller incomes and no longer had to make National Insurance contributions. ”

‘Millennials can’t pay any more’ – why Covid-19 will mean tax increases for older generations

Why would the Chancellor rob the older folk?

Because that’s where the money is

[SueEllen]

The Tories have screwed education. Remember how screwing up education went so well for the Lib Dems? So the Tories can target who they like for tax rises.

[Whorty]

Inneresting ..... the older folks are paying 'less' tax because they'r earning less

Also, aren't the older folks paying for C19 with their lives, whilst the younger generation only get mild symptoms and get to live a long, healthy life?

These Tories really are desperate

[elsergiovolador]

Older generation enjoyed lower taxes (not all the time though) and whole host of loopholes and other helpers (like cheaper housing) to enable them to amass wealth.

They now manipulate the young to make them want not only to close all the loopholes, but also to pay for their retirement and other benefits.

[AtW]

FOG

[GigiBronz]

Good one. Hahaha

They will tax the young and naive and favour the group that abides with the system.
It has always been like that, now they will probably up the game and make a wiser diversion.

[Whorty]

Good one. Hahaha

They will tax the young and naive and favour the group that abides with the system.
It has always been like that, now they will probably up the game and make a wiser diversion.

You need to read the article again ... it says the younger generation have been paying taxes on their income, but to do this you need a job. You're Ok fella

[GigiBronz]

You need to read the article again ... it says the younger generation have been paying taxes on their income, but to do this you need a job. You're Ok fella

It has always been the same, it will not change because of current circumstances. Wheathet it is taxes or rent extraction. Just a more elaborate plot to distract the young.

As for me, I’d be fine, I’d rather have just enough doing my own thing instead of slaving away to old farts like you in the same old corporate chain.

For you it is too late I am afraid, you do not know any other way...

The older I get the more I understand it is all about freedom. It comes in different forms of shapes but not how the corporate world has brainwashed you friend.

[TwoWolves]

The chancellor is a creature from Goldman Sachs. Whatever happens, it will be to enrich his masters and will have nothing to do with fairness, law or what is best for the nation.

[AtW]

The chancellor is a creature from Goldman Sachs. Whatever happens, it will be to enrich his masters and will have nothing to do with fairness, law or what is best for the nation.

Yeah totally, and all his predecessors were totally different sort.