The Budget

[DSPUK]

Whoopy Woooo - Only got to wait till next April for tax threshold to change - but ciggies go up tonight - I don't smoke but it's always the same - you give us now - we give you next year - he said something about people earning £100k - is he in cloud cuckoo land - knock a zero off and it becomes figures I understand.

 

I feel as if liebour has just mugged me.

 

Marty - we sold wife's car a year ago - might have to sell mine now.

 

Dave

[Livefast123]

As said before, rob the poor and OAP's to give to the rich.

 

They are gambling that just because they lower the tax rate that all the fat cats will have a moral breakdown and decide to pay tax instead of their accountants to avoid it.

 

Wow, my personal allowance is going up a bit....totally wiped out by the cost of fuel, food and general living.

[Asa Bear]

Is it wrong that after all these years of being worried about what he is going to do i just really no longer care anymore.

 

 

 

[mfletch]

As I said in the first post what goes up is 6 O'clock today what hes giving us is wait till next April

 

All I can see hes looked after his millionaire mates

 

£170 next April in tax relief that's just enough to fill the jeep up with diesel

[shaun4860]

As I said in the first post what goes up is 6 O'clock today what hes giving us is wait till next April

 

All I can see hes looked after his millionaire mates

 

£170 next April in tax relief that's just enough to fill the jeep up with diesel

 

 

Im no millionaire but if i was, then paying the Govt 50p for every £1 i earned would peeve me a bit

 

Labour under the old guard had it at 95p in the £,

 

Just saying like

 

[blackbird]

Don't forget the REAL reason we're in such a **** state.

 

 

 

It's down to that one eyed **** I have got to work for a extra five long years

Edited March 21, 2012 by blackbird

[mfletch]

No dont get me wrong even 45% is too high

 

The problem is we pay tax on our earnings then pay tax again in VAT then again on fuel duty

 

VAT what a rip-off a garage gets parts in for your car and pays VAT on them then he charges you VAT again' so you are paying 40% VAT on the parts

[AVB]

Im no millionaire but if i was, then paying the Govt 50p for every £1 i earned would peeve me a bit

 

Labour under the old guard had it at 95p in the £,

 

Just saying like

 

 

You forget national insurance as most people do. If you take ni into account as well the government takes 52p of every pound I earn. Every pound. Not every pound over £150k but 52p of every pound. So I earn a pound and take home 48p. And I am not a millionaire by a long, long, long way.

 

All this **** about oh you need to be a millionaire to be hit by 50p tax gets my goat.

 

Edited to add that you can all say "ah but he is a banker so what" but what if I was a surgeon or somebody else you respected? You are still being robbed blind.

Edited March 21, 2012 by AVB

[shaun4860]

No dont get me wrong even 45% is too high

 

The problem is we pay tax on our earnings then pay tax again in VAT then again on fuel duty

 

VAT what a rip-off a garage gets parts in for your car and pays VAT on them then he charges you VAT again' so you are paying 40% VAT on the parts

 

 

Thing that got me was when VAT was reduced to 15%, they put an extra 2p per litre on fuel to offset it.

 

When VAT went up to 20% the 2p stayed.

 

At the end of the day, we get screwed by every Govt albeit Labour or Tory.

 

But its Labour's holier than thou attitude that ****** me off, they forget it was them that kicked it off borrowing more and more with no means of repaying it.

 

(UKIP voter)

[Livefast123]

You are still being robbed blind.

 

Osbourne Budget - Robbing the people since 2012

Edited March 21, 2012 by Livefast123

[keg]

AVB- Agree with all your posts and no, i am not a banker- one generation out of the pits in South Yorkshire and left school at 16 to work on a farm then on a YTS scheme.

 

I heard the same thing in those years as I hear now with comments about the lost generation, poor prospects and limited movement socially. It is a load of rubbish.

 

Overall as a country (and I accept there are some cases where this has not happened) we have never had it so good. I personally prospered under Maggie through the opportunities created by the buoyant economy and by my own hard work.

 

When the Tories came in in 1979 we were a bigger basket case than Greece is now, the IMF would not lenders any more money and in typical Labour fashion the coffers were empty.

 

One of the main reasons for privatising many of the industries is because we could no longer afford the subsidies. My wife trained as an accountant and used to audit the coal board. The subsidies were eye watering.

 

Should we have privatised everything, probably not. Certainly not rail or the utilities but everything else yes.

 

We have most certainly priced ourselves out of the marketplace in a number of areas including engineering and steelmaking. The fact is you can pay someone pennies in the Far East to produce as good quality steel as you have to pay several thousand pounds a year for here. Should we subsidise it? At what point do we say enough is enough.

 

Tax is eminently fair as AVB has already illustrated and as for the comment about paying VAT twice I think you should read up on this matter. The VAT is ultimately paid by the end user so is only paid once however it is passed from company to company so if someone makes some car parts and sells it to a car parts distributor they can reclaim the VAT the VAT is then passed on to you so it is an end user tax.

 

I think Maggie did a great job for this country and should be shown due respect because if she haven't stood her ground, we really would be in the mire.

 

People need to understand that someone has already illustrated on here that the only form of government money is personal and corporate taxation. The pot is only finite and therefore needs to be allocated accordingly.

 

One of the great mis quotes from the Maggie years is "there is no such thing as society". This is taken completely out of context from an interview for a woman's magazine. I suggest you Google it and you will understand that what she says is society is us. It is uncles and aunts and brothers and sisters so when people say society will look after me, what actually mean is I will happily sponge off my friends and relations.

 

I am old enough and wise enough to believe that there are a number of areas in the country where there are no jobs and I would be the first to support the people in this area as there but for the grace of God go I, but there are also a large percentage of people that will not work.

 

Sorry for the tome of war and peace, cup of tea time.

[Catweazle]

VAT what a rip-off a garage gets parts in for your car and pays VAT on them then he charges you VAT again' so you are paying 40% VAT on the parts

 

It doesn't work like that, the garage takes the VAT it pays from the VAT it charges you and sends the difference to the revenue. Look up "Input tax" and "Output tax".

 

AVB is right about the amount of tax most people effectively pay. For example, you can quite easily pay 40% income tax, 11% (iirc) national insurance, then when you finally get to spend it, 20% VAT or even more if it's tobacco, alcohol or motor fuel.

 

And what do you get back for all this tax ? Not much if we're honest, and don't expect it to get any better because the government is considering flogging off chunks of our infrastructure and borrowing more money on 100 year terms. They claim it's going to produce "growth", a cynic might say they're pawning the last of the family silver before legging it to tax havens with the proceeds.

[shaun4860]

Keg,

 

I wish i could have put it like you,

 

Bit of common sense at last.

 

[storme37]

Because he earns 200,000 and the nurse earns 20,000. Simple. Are you saying that the nurse should pay no tax and the other should pay 90% tax so that they take home the same? Are you a communist?

 

you dont have to be a communist to see rewarding failed bankers with tax payers cash is wrong lol

 

a nurse is worth 10 bankers lol at least they earn an honest living lol

[AVB]

you dont have to be a communist to see rewarding failed bankers with tax payers cash is wrong lol

 

a nurse is worth 10 bankers lol at least they earn an honest living lol

 

I cannot take the moral high ground. However replace Banker with Surgeon and your argument is lost.

[storme37]

not really a surgeon deserves a good wage and bonus he saves lives and is successful at what he does the bankers just killed the economy failure is not rewarded in the operating theatre, taxing a surgeon has to be done iv not said he should not be taxed at the high rate if he earns high amounts but they should not over tax the rich or they will all ****** of and take the cash with them so reasonableness has to be done for the rich as well as poor. i always thought 20% and 40% was reasonable

Edited March 21, 2012 by storme37

[gemini52]

the real reason was thatcher yes this corruption goes that far back hopefully that old **** be dead soon lol

totally agree my old fella used to say the only cow who cant give milk :yp:

[keg]

Maggie was far from corrupt. When Michael Heseltine was possibly connected with the Westland affair he was immediately asked to resign and did so. A number of her Cabinet ministers when any form of scandal tainted them resigned or were asked to resign.

 

 

Move forward 20 years and we have our good old new communist government in, the chief architect of who is Peter Mandelson who gets caught once but twice in various scandals and yet is moved into Europe where he gets on the milk train and then back to the Lords.

 

Look at Blair. How many millions is he now worth. You don't read any headlines about Maggie making a fortune out of her position.

 

Thanks Shaun, I have a great piece of talk type software which means I can type reasonably quickly, it's spelt correctly (most of the time) so I can pontificate to my heart's content.

 

Storme37, it gets boring to hear Maggie been blamed the things that were totally out of her control. I refer to my earlier post.

 

It sounds like bitterness or a chip on the shoulder to me but as I don't know you personally I cannot comment.

 

If you want to see corruption at first hand mixed with a bit of hypocrisy, take a look at fatty two jags or Lord Prescott is he now prefers to be known.

 

Another example of new communism at work. All through his career he was one of the working boys, hated the Tory toffs and didn't want to be associated with them.

 

Dangle a peerage under his nose and he is there like a rat up a drain pipe. He then has the audacity to blame his wife saying she wanted it.

 

I have no issues with anybody's political views and will fight for the right for you to pass comment on them but please get rid of the hypocrites

[Laird Lugton]

Suppose that every day, ten men go out for beer and the bill for all ten comes to £100. If they paid their bill the way we pay our taxes, it would go something like this…

 

The first four men (the poorest) would pay nothing

The fifth would pay £1

The sixth would pay £3

The seventh would pay £7

The eighth would pay £12

The ninth would pay £18

The tenth man (the richest) would pay £59

So, that’s what they decided to do.

 

The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve ball.

 

“Since you are all such good customers,” he said, “I’m going to reduce the cost of your daily beer by £20. Drinks for the ten men would now cost just £80.

 

The group still wanted to pay their bill the way we pay our taxes. So the first four men were unaffected. They would still drink for free. But what about the other six men ? How could they divide the £20 windfall so that everyone would get his fair share?

 

The bar owner suggested that it would be fair to reduce each man’s bill by a higher percentage the poorer he was, to follow the principle of the tax system they had been using, and he proceeded to work out the amounts he suggested that each should now pay.

 

And so the fifth man, like the first four, now paid nothing (100% saving).

The sixth now paid £2 instead of £3 (33% saving).

The seventh now paid £5 instead of £7 (28% saving).

The eighth now paid £9 instead of £12 (25% saving).

The ninth now paid £14 instead of £18 (22% saving).

The tenth now paid £49 instead of £59 (16% saving).

Each of the six was better off than before. And the first four continued to drink for free. But, once outside the bar, the men began to compare their savings.

 

“I only got a pound out of the £20 saving,” declared the sixth man. He pointed to the tenth man,”but he got £10!”

 

“Yeah, that’s right,” exclaimed the fifth man. “I only saved a pound too. It’s unfair that he got ten times more benefit than me!”

 

“That’s true!” shouted the seventh man. “Why should he get £10 back, when I got only £2? The wealthy get all the breaks!”

 

“Wait a minute,” yelled the first four men in unison, “we didn’t get anything at all. This new tax system exploits the poor!”

 

The nine men surrounded the tenth and beat him up.

 

The next night the tenth man didn’t show up for drinks so the nine sat down and had their beers without him. But when it came time to pay the bill, they discovered something important. They didn’t have enough money between all of them for even half of the bill!

 

And that, boys and girls, journalists and government ministers, is how our tax system works. The people who already pay the highest taxes will naturally get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas, where the atmosphere is somewhat friendlier.

 

Copied from another site.

Edited March 21, 2012 by Laird Lugton

[Catweazle]

Suppose that every day, ten men go out for beer and the bill for all ten comes to £100. If they paid their bill the way we pay our taxes, it would go something like this…

 

This old chestnut

 

Don't forget that the richest actually pay very little tax, with the help of devious accountants and sharp practices.

 

Here is a professional economist debunking it all:

 

http://www.youtube.com/watch?v=20XAS3ORhEg

[Mungler]

Ah again the focus is making the hard working wealthy risk takers and business makers pay for it all.

 

The irony is that in any private sector business there is very little waste. However, you look at any aspect of government or the public sector and it's a full on comical spunk fest.

 

My own view is "it's not what you earn, it's what you don't spend" and yet, as a country we are still just hosing money away all over the shop.

 

If the government could be more business like in its operation and a bit more careful with my tax money, well I reckon I wouldn't need to pay so much tax in the next budget...

[storme37]

keg mate i dont just think maggies bent i think they are all bent labour and tory alike i know its boring nearly as boring as torys holding up her halo like she was whiter than white and did nothing but good. she wasn't the 1st or the last to rob us all, in fact the only man to ever enter parliament with honest intentions was guy falkes lol chip on shoulder not really, no point what will be will be nothing i can say or do will change it lol and if it all goes pear shape i would just bail anyway but no i not got much to be bitter about i love this once great country and i do care about it enough to look at both sides of the coin i would support any party that would sort out the problems we have tory or labour but i wont hold my breath.. Michael Heseltine got caught she just sacrificed him for "the greater good"

Edited March 21, 2012 by storme37

[AVB]

This old chestnut

 

Don't forget that the richest actually pay very little tax, with the help of devious accountants and sharp practices.

 

Here is a professional economist debunking it all:

 

http://www.youtube.com/watch?v=20XAS3ORhEg

 

Sorry but he doesn't debunk it. He talks a lot and throws a lot of history in there that is irrelevant. Also I wouldn't say he is a professional economist. He is an academic. He doesn't have to put his theories into practise.

[paddywack12]

the real reason was thatcher yes this corruption goes that far back ****************************

 

You sound a nice bloke

 

hope no one wishes an elderly relative of yours dead and laughs about it

[Mungler]

Oh what short memories people have of the labour government and state of the Country before Maggie.

 

3 day week, Unions in control and a Country in the worst state.

 

Go and watch "I'm alright Jack" - Peter Sellers at his best.

 

Yeah Maggie didn't get it all right, but everything is comparative and her tenure should be measured against what went before under labour.... and yes, so history repeats for this government - tasked again with having the brains and guts to fix labour's shambles.