Originally posted by Mailman
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Reply to: Labour tax "cuts"
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Previously on "Labour tax "cuts""
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Thanks DA, I knew I had something else to do today!
Now, where is your missus?
Mailman
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Originally posted by Mailman View PostThis is the thing that makes me laugh about you dumb arses...whats the point in splitting income tax and NIC? Yes thats right, because your average Pom hasnt put 2 and 2 together to figure our their real income tax level!
I mean, merge them together and we will probably see a mini-poll tax revolt (probably similar to when Romans invaded only to find the Britons stop fighting at 1030 for morning tea!
So its probably just easier to keep them seperate so you Poms dont work out what your real income tax level is.
Mailman
You've had your laugh now go back to your sheep
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This is why I say that taxpayers’ money should be spent on interesting things like moon missions, hypersonic concorde replacements, high speed magnet trains, space exploration and volcanology research on other planets. Governments will never cut taxes and will always spend gazillions of pounds of your and my money, whatever we do or say in protest. So let them spend it on stuff that makes us say ‘wow’ instead of boring crap like compost heap databases, ID cards and bank rescues.
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This is the thing that makes me laugh about you dumb arses...whats the point in splitting income tax and NIC? Yes thats right, because your average Pom hasnt put 2 and 2 together to figure our their real income tax level!
I mean, merge them together and we will probably see a mini-poll tax revolt (probably similar to when Romans invaded only to find the Britons stop fighting at 1030 for morning tea!
So its probably just easier to keep them seperate so you Poms dont work out what your real income tax level is.
Mailman
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Originally posted by expat View PostVAT was 8% when Maggie came to power. She promised not to double it in order to fund income tax cuts for the rich - then within 3 months she raised VAT to 15%. OK, she didn't double it, but Bliar has nothing to teach this weasel.
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Originally posted by MrMark View PostI'm old enough to remember VAT at 7.5% when the Tories took over, ending up at 17.5% (plus I'm fairly sure NI also doubled to cope with all that unemployment). Trouble is, there doesn't seem to be anyone electable who's offering to dramatically cut taxes. Perhaps it's an impossibility in today's society?
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I believe VAT was introduced as a temporary measure to counter inflation?
Income tax a temporary measure to fund war with France.
I think you can expect "temporary" taxes soon for climate change and credit crunch solving.
No turkey will vote for Xmas, no party will offer an alternative. DOOMED.
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Yes, it is impossible, all these civil servants and other hangers-on also the PFIs have to be paid for. And it will take generations to clear these debts, unless something really drastic occurs, which is what I'm expecting.
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I'm old enough to remember VAT at 7.5% when the Tories took over, ending up at 17.5% (plus I'm fairly sure NI also doubled to cope with all that unemployment). Trouble is, there doesn't seem to be anyone electable who's offering to dramatically cut taxes. Perhaps it's an impossibility in today's society?
Leave a comment:
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Labour tax "cuts"
Pre-Budget report: Why the basic rate of income tax will be 31.5pc from April, 2011 not 20pc
From April next year the upper earnings level from which NICs are deducted will rise to nearly £44,000 and, from April 2011, an extra half a percentage point NICs will be deducted from employers, employees and the self-employed.
"This is a double whammy," said Mike Warburton, of accountants Grant Thornton, "and the effect will be to take an extra £548 a year away from someone earning £44,000 – that's an increase of 14pc in this tax and a hidden sting in the tail.
Bob Rothenberg, of accountants Blick Rothenberg, added: "People don't think of NICs as being income tax but, as the Chancellor aligns these taxes more closely together, it does raise the question of why he does not just call them what they are; income tax.
"But that would mean admitting that the basic rate of income tax is not 20pc but 31.5pc from April, 2011."
High earners face even bigger increases. People earning more than £100,000 a year will contribute an extra £830m in tax during 2010 or an average of more than £1,270 extra tax each. According to the Treasury, there are 650,000 people in this group; rather more than the entire population of Glasgow.
By the following year, from April 2011, this group will pay more than £1.3bn extra tax as a result of personal allowances – or slices of income everyone is allowed to receive before paying tax – being phased out to the point where they disappear for those earning £140,000 or more.
Enjoy. I'd hate to see what tax increases look like if these are Labour's tax "cuts".Tags: None
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