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Gonna need some big ferries to transport all their properties and businesses down to Monaco.Beradogs wrote: ↑Thu Nov 21, 2019 8:56 pmDeluded. The billionaires will of course F off. So will the multi millionaires. You want to know who will end up paying for all this. All the muggins on this board.BoniO wrote: ↑Thu Nov 21, 2019 5:51 pmAny rich scumbag who wants to feck off rather than pay taxes is welcome to do just that. Whereas, your scare tactic that this would necessarily mean huge job losses is a fallacy. Moving themselves is one thing, moving their businesses is a very different thing. Let the parasites go and good riddance.Redcard wrote: ↑Thu Nov 21, 2019 4:25 pm Redo, he would be one of droves. Bleeding the wealthy who as I stated already pay a disproportionate chunk of our taxes is a failed policy. They simply relocate , take their wealth with them and the result is massive job loss. Not only do the mega rich pay a fortune in taxes but when they flaunt their wealth the treasury benefits by a further 20%.
For the benefit of prestige I will add that unfortunately I am not in that bracket.
May be we need to look into these corporations a little bit more if they can simply pass these taxes onto us as consumers.
You are supporting you’re argument to vote labour by saying that income tax rates will not go up for the majority of people. That may be so, at least initially, but income tax rates are irrelevant. It’s like me arguing to save elephants by talking about Melons. Labour will not have access to capital markets without paying a very high price. That price will be higher yields and the subsequent rise in inflation. We might not be paying more tax initially but we will be paying more for everything else. John Macdonnell has already said he expects a run on the pound. Investors will not park money in Uk assets without more guarantees (higher yields) causing even more inflation. Tax rates eventually rocket because the government has no income as it can’t raise money from debt buyers. Hedge funds will love the smell of Uk blood in the morning.StillSpike wrote: ↑Thu Nov 21, 2019 9:26 pm It's not meaningless at all. People were confidently spouting about how much more some poor imagined soul earning "just" £80K was going to be paying in Tax - the figure prove that conclusively to be bollocks - because, as usual, they don't (or choose not to) understand marginal tax rates.
As I say, happy to show my workings - are you?
). What's a "high price" for capital? I assume you mean an interest rate (is that what you mean by yield ?- if so, just call it that). Why does that lead to inflation? How does that affect the relative value of the £.So what you're saying is that Capitalism is totally unresponsive to democracy no matter how corrosive it has become. If we try and even things out even a little bit Capital will take a great big bite out of us. It sure does sound like Capital has got a bit big for its boots. Surely this is more of a threat to sovereignty and Western democracy than the EU, right? I mean, from what you're saying there's naff all we can do if the billionaires want to take the piss. If we try and stop them they'll just piss off with the loot.Beradogs wrote: ↑Thu Nov 21, 2019 9:49 pmYou are supporting you’re argument to vote labour by saying that income tax rates will not go up for the majority of people. That may be so, at least initially, but income tax rates are irrelevant. It’s like me arguing to save elephants by talking about Melons. Labour will not have access to capital markets without paying a very high price. That price will be higher yields and the subsequent rise in inflation. We might not be paying more tax initially but we will be paying more for everything else. John Macdonnell has already said he expects a run on the pound. Investors will not park money in Uk assets without more guarantees (higher yields) causing even more inflation. Tax rates eventually rocket because the government has no income as it can’t raise money from debt buyers. Hedge funds will love the smell of Uk blood in the morning.StillSpike wrote: ↑Thu Nov 21, 2019 9:26 pm It's not meaningless at all. People were confidently spouting about how much more some poor imagined soul earning "just" £80K was going to be paying in Tax - the figure prove that conclusively to be bollocks - because, as usual, they don't (or choose not to) understand marginal tax rates.
As I say, happy to show my workings - are you?
Be interested to see this, Spike (genuinely), could you PM me please with the pointers ? Many thanksStillSpike wrote: ↑Thu Nov 21, 2019 8:08 pm I've been having Excel fun with the Manifesto Income Tax bands. Here's what I've calculated (happy to show workings)
Someone on £20,000 p.a will pay £0.00 more per week in income tax than now
Someone on £30,000 p.a will pay £0.00 more per week in income tax than now
Someone on £40,000 p.a will pay £0.00 more per week in income tax than now
Someone on £60,000 p.a will pay £0.00 more per week in income tax than now
Someone on £80,000 p.a will pay £0.00 more per week in income tax than now
Someone on £85,000 p.a will pay £4.81 more per week in income tax than now
Someone on £100,000 p.a will pay £19.23 more per week in income tax than now
Someone on £125,000 p.a will pay £43.27 more per week in income tax than now
Someone on £150,000 p.a will pay £91.35 more per week in income tax than now
Someone on £250,000 p.a will pay £187.50 more per week in income tax than now
Someone on £300,000 p.a will pay £235.58 more per week in income tax than now
If his calculations are correct then someone on roughly 5k a week will instead be pulling in around £4765. Just the two foreign holidays a year now. Oh the humanity!Scuba Diver wrote: ↑Fri Nov 22, 2019 8:38 amBe interested to see this, Spike (genuinely), could you PM me please with the pointers ? Many thanksStillSpike wrote: ↑Thu Nov 21, 2019 8:08 pm I've been having Excel fun with the Manifesto Income Tax bands. Here's what I've calculated (happy to show workings)
Someone on £20,000 p.a will pay £0.00 more per week in income tax than now
Someone on £30,000 p.a will pay £0.00 more per week in income tax than now
Someone on £40,000 p.a will pay £0.00 more per week in income tax than now
Someone on £60,000 p.a will pay £0.00 more per week in income tax than now
Someone on £80,000 p.a will pay £0.00 more per week in income tax than now
Someone on £85,000 p.a will pay £4.81 more per week in income tax than now
Someone on £100,000 p.a will pay £19.23 more per week in income tax than now
Someone on £125,000 p.a will pay £43.27 more per week in income tax than now
Someone on £150,000 p.a will pay £91.35 more per week in income tax than now
Someone on £250,000 p.a will pay £187.50 more per week in income tax than now
Someone on £300,000 p.a will pay £235.58 more per week in income tax than now
I might be missing what you are saying here. Someone earning 5k a week only pays £235 a week tax? If so sign me up for some of that. I think your calculations are wrong.Eat The Rich wrote: ↑Fri Nov 22, 2019 9:24 amIf his calculations are correct then someone on roughly 5k a week will instead be pulling in around £4765. Just the two foreign holidays a year now. Oh the humanity!Scuba Diver wrote: ↑Fri Nov 22, 2019 8:38 amBe interested to see this, Spike (genuinely), could you PM me please with the pointers ? Many thanksStillSpike wrote: ↑Thu Nov 21, 2019 8:08 pm I've been having Excel fun with the Manifesto Income Tax bands. Here's what I've calculated (happy to show workings)
Someone on £20,000 p.a will pay £0.00 more per week in income tax than now
Someone on £30,000 p.a will pay £0.00 more per week in income tax than now
Someone on £40,000 p.a will pay £0.00 more per week in income tax than now
Someone on £60,000 p.a will pay £0.00 more per week in income tax than now
Someone on £80,000 p.a will pay £0.00 more per week in income tax than now
Someone on £85,000 p.a will pay £4.81 more per week in income tax than now
Someone on £100,000 p.a will pay £19.23 more per week in income tax than now
Someone on £125,000 p.a will pay £43.27 more per week in income tax than now
Someone on £150,000 p.a will pay £91.35 more per week in income tax than now
Someone on £250,000 p.a will pay £187.50 more per week in income tax than now
Someone on £300,000 p.a will pay £235.58 more per week in income tax than now
You are missing what is being said here. Entirely.Thor wrote: ↑Fri Nov 22, 2019 9:40 amI might be missing what you are saying here. Someone earning 5k a week only pays £235 a week tax? If so sign me up for some of that. I think your calculations are wrong.Eat The Rich wrote: ↑Fri Nov 22, 2019 9:24 amIf his calculations are correct then someone on roughly 5k a week will instead be pulling in around £4765. Just the two foreign holidays a year now. Oh the humanity!Scuba Diver wrote: ↑Fri Nov 22, 2019 8:38 am
Be interested to see this, Spike (genuinely), could you PM me please with the pointers ? Many thanks
If these figures are correct the people on over 80k a year can well afford the small rises to help pay for the needed changes.Scuba Diver wrote: ↑Fri Nov 22, 2019 8:38 amBe interested to see this, Spike (genuinely), could you PM me please with the pointers ? Many thanksStillSpike wrote: ↑Thu Nov 21, 2019 8:08 pm I've been having Excel fun with the Manifesto Income Tax bands. Here's what I've calculated (happy to show workings)
Someone on £20,000 p.a will pay £0.00 more per week in income tax than now
Someone on £30,000 p.a will pay £0.00 more per week in income tax than now
Someone on £40,000 p.a will pay £0.00 more per week in income tax than now
Someone on £60,000 p.a will pay £0.00 more per week in income tax than now
Someone on £80,000 p.a will pay £0.00 more per week in income tax than now
Someone on £85,000 p.a will pay £4.81 more per week in income tax than now
Someone on £100,000 p.a will pay £19.23 more per week in income tax than now
Someone on £125,000 p.a will pay £43.27 more per week in income tax than now
Someone on £150,000 p.a will pay £91.35 more per week in income tax than now
Someone on £250,000 p.a will pay £187.50 more per week in income tax than now
Someone on £300,000 p.a will pay £235.58 more per week in income tax than now
Yeh, that well known man of violence Jeremy Corbyn. Its ironic that the people most angry with Corbyn for talking to the IRA and their like are the ones who get the biggest stiffies every time nuclear Armageddon is mentioned.HARVEY T DENTON wrote: ↑Fri Nov 22, 2019 11:33 am Have to say, getting JC to visit Birmingham, on the anniversary of the pub bombings, was probably not the best idea.
No - just a bank transfer and loan.RedO wrote: ↑Thu Nov 21, 2019 9:26 pmGonna need some big ferries to transport all their properties and businesses down to Monaco.Beradogs wrote: ↑Thu Nov 21, 2019 8:56 pmDeluded. The billionaires will of course F off. So will the multi millionaires. You want to know who will end up paying for all this. All the muggins on this board.BoniO wrote: ↑Thu Nov 21, 2019 5:51 pm
Any rich scumbag who wants to feck off rather than pay taxes is welcome to do just that. Whereas, your scare tactic that this would necessarily mean huge job losses is a fallacy. Moving themselves is one thing, moving their businesses is a very different thing. Let the parasites go and good riddance.
I haven't worked through the numbers yet but one thing is glaringly obvious and that is the Englocentric nature of the assumptions. Tax rates in Scotland are not the same as in Englandshire.StillSpike wrote: ↑Fri Nov 22, 2019 10:20 am Pending being able to show the whole spreadsheet - here's an example of the calculations:
So, for example, at the moment, someone on, say, £100 K.
Their first 12,500 is tax free
Their next 37,500 is at 20% (up to £50K)
Their next 50,000 is at 40% (fro £50 - £100) -
So their total tax bill would be (12,500 * 0) + (37,500 * 20%) + (50,000 * 40%) = 27,500
Under the Labour proposals:
Their first 12,500 is tax free
Their next 37,500 is at 20% (up to £50K)
Their next 30,000 is at 40% (from £50K - £80) -
Their final 20,000 is at 45% (£80K - £100)
So their total tax bill would be (12,500 * 0) + (37,500 * 20%) + (30,000 * 40%) + (20,000 * 45%) = 28,500
£1,000 a year is just over £19 a week.
It's also probably worth pointing out the obvious - someone on £100,000 a year would still, under the proposals, only be paying 28.5% of their Salary in Income Tax (obvs they'd have to pay NI as well, but it does rather give the lie to all those nonsense "we have to pay over half our money in Tax" lies that the papers fill up with. Even under Labour's proposals, it's a mathematical impossibility for anyone to have to pay as much as half their salary in Income tax - so if the 21st century version of the Who or the Stones tries to tell you they are - they're lying.
That's bordering on the IMBECILIC. I expect better from you.HARVEY T DENTON wrote: ↑Fri Nov 22, 2019 11:33 am Have to say, getting JC to visit Birmingham, on the anniversary of the pub bombings, was probably not the best idea.
Still's Carenae wrote: ↑Fri Nov 22, 2019 12:18 pmNo - just a bank transfer and loan.
