Social Care, NHS, National Insurance

£12 a year? are you having a laugh.

here...

Graduates face a tax rate of 42% on their pay rises
The extra levy creates the highest tax burden for decades on working-age Brits.

And graduates will be particularly hard-hit, because they’re also repaying a student loan.

Analysis by the FT suggested graduates on £30k who earn a £1,000 pay rise next year will not see 42% of it - even though their income tax rate is technically 20%.

Some £200 would go to income tax, £132.50 in national insurance and £90 in student loan repayments.

 

That's usually the case in life, the final payment of £45.5 million was paid in December 2006 thereby discharging the last of the second world war loans from the USA, after amassing an immense debt of £21 billion.
Aint life a bitch.

 

Student loan payment is 9% over the appropriate threshold. So from the extra £1000 that is stated in the example £90 would be correct.

The 42% is very misleading as it is only on that £1000 and not the whole income

On £27,500 on a phase 2 the payment would be £18.45 which is 9% of £205

 

And yet older people paid an overall tax of around 40 to 45% including NI on there earnings on a large part of their life with basic tax rates of 30 to 35% until the arrival of Thatcher who brought them down to around 25pence in the pound and Blair further reducing it to 22p in the pound, And of course until the last ten years the state pension was a pittance until the tories raised it to its present rate which is still the lowest in modern europe,
One day with luck you will be a pensioner with the youth blaming you incorrectly for the ills of the time

 

I don't think OAPs are being blamed at all. People are annoyed that in just a few generations, the opportunity to get on the housing ladder is a much harder prospect than it was in times gone by. Some OAPs are sympathetic. Others are very vocal in their disrespect and ignorance of the challenges people face now when trying to buy in.

 

You are of course right, Blaming OAPs for the problems of the young is stupid and wrong, The problem with housing is caused by a government that refuses social house building and relying on the private sector who have an interest in the supply to keep prices up, Of course the elephant in the room is that we allow more people in the country each year while building fewer houses

 

So very true, our first home was purchased on my salary alone after just coming out on my apprenticeship at Crofts.
The Blair government actively encouraged young couples to buy on both incomes setting up child care to try and help, which although sounded a great help this also pushed up house prices, then of course the sub prime came along.
You're quite right the bank of mum and dad was a great help to those lucky enough to have parents who had the finance to help.
I don't think Thatcher helped with regards housing when she allowed the sale of social housing where many who had lived in council properties many years got a great discount, which at the time was unfair to those who had bought privately, I know of several associates who's parents were long time council tenants who bought their parents homes at a massively reduced price, and as their parents passed sold the properties for much more than they originally paid.

 

Ask someone on £100k a year what rate of tax they pay. They wont mention the first 27K

 

Think of it as a gift for those less well off than yourself.

 

The NHS. Put a fork in it. It's done. Finished. Not fit for purpose whether it be your GP, your dentist, going to your local hospital etc. The whole thing is broken beyond repair. No amount of money thrown at it will solve the level of service you receive. The level of care my family and myself have received over the past 20 years has been nothing short of shambolic and talking to others I'm not an isolated case.
From the NHS to the utilities, from the railways to the former publicly owned companies, to the billions spent on failed track and trace and bogus PPE contracts, this country is at breaking point. And yet some are more angered at railway workers fighting for a better salary to fight the spiralling costs of living.
Welcome to the real United Kingdom in the 21st century.

 

How is giving already overpaid railway workers more money that we don't have gonna help fund and repair the NHS..?

 

Agree. Our critical infrastructure is fundamentally broken, and our political parties are all equally culpable and inept.

What I would say though, re. rail workers, is that the answer has to lie in combating rising costs rather than handing out inflation linked rises to public sector workers. The impact on the tax payer and the impact to private sector worked would create even bigger issues.

 

Maybe, just maybe take the profits that are given to CEOs, shareholders and dividend recievers and give some of it back to the people who actually make the services run in the first place. Lets get off the media peddled crap about train drivers rolling about on the beds in fifty pound notes. Lets not compare one small example to the hundreds of thousands of everyday people fighting for a fair wage packet while the ones as top and parasite shareholders cream off stolen profits. I'm not into politics Tone, you know I hate the whole bloody system. But enough is enough, time for talk is over, it's about time the mass population stood up against the systematic rip off. What we see now with the cost of living crisis, while the rich get filthy rich off the back of it, is worse than the days of Thatchers poll tax days. If there is civil disobedience id be up for it.

 

I agree with the rising cost scenario, this is done deliberately every number of years to bring down the effective worth of everyday people like myself. It's why we have to work that little bit longer every year before we stop paying the taxman and start earning ourselves

 

Don't mean to have a go at you RT but equate the CEO's to the £500k a week footballers that we endorse one way or another and without the shareholders and dividend receivers there wouldn't be any investors to fund research and development for the energy companies, might not be ideal but it's all we've got.
As I'm sure i've said before if you share out all the salaries from the top we'd all get about 50p each,it's always gonna be this way...look after yourself...

 

Haha I don't mind you having a go Tone, always a good debate with you.