Originally posted by centurian
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The 2009 Budget £100k-£112 earnings stealth tax (personal tax allowance wiped !)
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Originally posted by centurian View PostPensioners could always get a larger personal allowance to compensate for this. Of course people would then say it is ageist - why should a pensioner simply get more allowance just because they are older.Comment
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Originally posted by centurian View Post
Pensioners could always get a larger personal allowance to compensate for this. Of course people would then say it is ageist - why should a pensioner simply get more allowance just because they are older.
Which comes back to the fact that NI is basically an age-related tax - only paid by those people in employment.
Most pensioners have paid tax and NI throughout their lives to enable them to have a pension. To get a state pension you had to contribute for 44 years as a male etc, and if you contributed less it is a pro-rata entitlement.
With inflation and regressive taxes such as council tax, pensioners require as much tax allowance as can be afforded by HMG, or HMG would have to contribute more to them through benefits and state pension. It is swings and roundabouts, but current pensioner inflation is 12% whereas the state pension increase this year is 2.5% !!Comment
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