Yeah that's the reason..
UK General Election - 12th December 2019 | Con 365, Lab 203, LD 11, SNP 48, Other 23 - Tory Majority of 80
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In the latest episode of the United Hour Podcast, Nik (@Rood) was joined by comedian Ali Woods to look back at the best and worst moments of a rollercoaster season with the annual United Hour Awards.
Has Ten Hag been sacked yet? We're not sure and we hope not, but it's looking more likely as the days pass.
Who should replace him and why is it taking so long to make a decision?
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Whilst the majority may not leave (depending on the rate I suppose), the effect of raising taxes on the rich is to incentivise those in that bracket to arrange their financial affairs in such a way so as to avoid paying the higher rate.
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Ugh. I'm gonna be so fecked off with Britain in just over 24 hours aren't I.
It fecking amazes me that the Tories are (almost definitely) going to come away with a majority. After the campaign they've run and the people they have at the top.
Stunning to me.
It fecking amazes me that the Tories are (almost definitely) going to come away with a majority. After the campaign they've run and the people they have at the top.
Stunning to me.
I'm trying my best to mentally prepare, it's going to be horrid
It’s just so depressing
Labour tax plans are hardly radical.
Well then you make those ways illegal(Labour have talked about closing tax loop holes).
Cheers for the wasted time.
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I wish he was paralysed.
Well, the parliament will be paralysed after the election gives us a hung parliament
Labour will win, I'll settle for a hung parliament though
I find it absolutely baffling that 'working class tory strongholds' are a thing and will probably end up winning them the election
They're doing that anyway.
In the past few weeks I've resigned myself to two things. Liverpool winning the league and the Tories getting a clear majority. It will make what happens tomorrow evening a lot smoother.
I’m pretty sure I died and went to hell on the 8th of May 2013.
Which would you rather prefer?
The real question then is why one would want to increase the incidence of it; reducing the overall tax take in the process.
Tories are playing up to the Brexit thing. Brexit was a vote about immigration. Working class people are led to believe that immigrants are coming to steal their jobs.
It’s not even just that - you start taxing people who aren’t actually rich, you destroy their entrepreneurial spirit. You have a similar effect to the doctors who won’t work overtime because it negatively affects their pensions.
You put a brake on people working - why would you push yourself to work and earn more. People who earn £100-125k already have a marginal tax rate of 60%. Why bother, and just keep your income below £100k, add more tax on top of this and there is no incentive to earn more, and HMRCs tax take is overall lower.
You clamp down on them avoiding it, ignoring what they do and being scared of increasing tax on people who accumulate so much wealth does nothing for country.
This isn’t true.
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At which point the lower earners have to start making up the difference via a creep in the tax rates. Don’t worry though, apparently these issues would never happen under Corbyn, people will just pay and the NHS etc will be run smoothly with minimal mismanagement.
This is just not true at all. People who earn 101k under this system even with the extra tax would still take home more than they would if they kept their income below 100k.
The what about the people who could only dream of earning over £30k? You know, over half the population. What’s with the desperation to look after those who have nothing to worry about and the ease at which the average person in this country is dismissed?
It’s not the entrepreneurial spirit that runs this country, it’s the dogged determination of the working class who work twice as hard for half the money and half the recognition and twice the contempt.
But at some point the marginal additional utility is not with the marginal additional effort.
I've loved reading your optimistic posts, good for you! I really hope you know something secret ...Stop it! Get the bubbly on ice
I don’t think you understand Tax
If you do genuinely find that baffling do you put that down to you not understanding that subset or do you think that subset don't understand what they are doing
I have this argument with everyone at work albeit on a lower scale.
Tax isn't worked out in the way you're setting out. It's gradual so it still pays to earn more as you don't suddenly lose a large percentage of it that you wouldn't have lost had you not worked.
I go just over the 40k tax bracket and I don't suddenly get taxed a shedload more than my colleagues that try desperately to stay just under the 40k mark.
And yet every single group of foreign people I've worked with has been exploited (cheap labour, no overtime paid, 'compulsary' extra hours work etc etc) by their bosses.
Christ, imagine having to leave your own country just to find reasonably-paid work. Hell, I grumble if I have to walk half-a-mile to the town centre shops...
jeReMY cORbYN
you spectacularly miss the point.
the intention is to take more tax off of a proportion of the country who are in the (fortunate) position to be able to earn more - more income = more tax. Take away this incentive and you decrease the amount of tax HMRC collect.
I can understand why this may appear counterintuitive. But I know lots of people who already turn down work because of the marginal tax rate, some work begrudgingly and more will stop if the tax rate increases - or just smash all their money into pensions to get tax relief (which is what I do).
Looking at the costings document Labour's bottom line attempts to take an increase in tax dodging into account.
Isn't that about as wide as the gap has been over the last year? Can't see it somehow.
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The marginal additional effort?
There are people earning 20k who work harder than people earning 150k... you can almost certainly guarantee the people earning £200k are likely not really working any harder than they did when they were earning half that... they are just getting paid a lot more. Plenty would even admit to working less hard...
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