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NotJustANumber99 posted:Is a person who earns £110,000 now going to pay any more tax under the new budget? I don't think so, but someone earning £130k would, for example.
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Nov 18, 2022 13:40
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NotJustANumber99 posted:Is a person who earns £110,000 now going to pay any more tax under the new budget? This year? No. Next year and beyond? No, but if they get a pay rise - even one less than inflation - the tax thresholds won't increase in line with it, so more of than pay increase will be taxed then is "supposed" to happen. Frankly I don't think pausing thresholds for fiscal drag is a huge deal - the assumption they should increase with inflation is itself a political decision that costs money, no more natural than not raising them. If we had strong salary growth maybe, but lol that happening anytime under a tory government.
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Nov 18, 2022 13:41
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Percentile chat: In the 2006-7 tax year (last time I was working full-time in a regular, f/t, 'Class 1' job) I was between the 88th & 89th percentile. (£42k). This is 2019-20 £55-£56k or 2% increase in that percentile for 13 years. On the same increase rate that would be about £59.4k for the 89th percentile now. Now though I'm on full-time-equivalent 39th percentile assuming the same 2% year on year. But only work part-time hours (in theory! Often do considerable unrewarded overtime as do my colleagues - the perils of working for a charity!). How are the mighty fallen LOL I do have a small work pension on top of that though which just pushes me over the personal tax allowance. But at least my little 26sq.m. dwelling is fully paid up so I only have the service charges to pay on that not a mortgage or rent.
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Nov 18, 2022 13:43
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https://twitter.com/mlothianmclean/status/1593579069626515456?s=19 So utterly worthless.
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Nov 18, 2022 13:46
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feedmegin posted:Bring back Livejournal? My vote is for AOL Message Boards. I used to get free broadband (when it first became available back in the dim & distant late 1990s) in exchange for being a board host (more or less a moderator). Kieth photo: That is one weird photo.
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Nov 18, 2022 13:47
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whomst amongst us has not made out with the mirror
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Nov 18, 2022 13:48
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Gonzo McFee posted:https://twitter.com/mlothianmclean/status/1593579069626515456?s=19 And there's me thinking it was our job to make pathetic kieth memes. Now the Times is doing it for us.
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Nov 18, 2022 13:48
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Does... the magazine give you the recipe for making keir starmer...?
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Nov 18, 2022 13:49
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I'm currently in a hard-fought battle to get a raise to as much as new starters on my team get paid (HR hosed up and put the salary in a job ad, which I saw and nobody else did) and move from the 95th to 96th percentile. I think my wife is 50th (also for a charity). It feels liberating to be able to discuss it with strangers (and god you cunts are strange).
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Nov 18, 2022 13:50
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Spoken with all the energy of a man being threated by multiple guns held just off-screen
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Nov 18, 2022 13:54
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If he doesn't sell enough albums they're going to release the nonce file on him before he dies.
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Nov 18, 2022 13:55
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Oh thought you were talking about starmer god imagine if he released an album
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Nov 18, 2022 13:56
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thing can only get better would definitely be the opening track gently caress I just remembered that Liz Truss came out to that at party conference hahaha
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Nov 18, 2022 13:57
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And that help is to pay for the 20 grand he will have to pay to light that fire and christmas lights.
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Nov 18, 2022 13:59
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Anyone recommend a Mastodon server?
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Nov 18, 2022 14:02
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Gonzo McFee posted:https://twitter.com/mlothianmclean/status/1593579069626515456?s=19 On the rear end. Multiple times
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Nov 18, 2022 14:17
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OwlFancier posted:Does... the magazine give you the recipe for making keir starmer...? Just steam a gammon for three years.
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Nov 18, 2022 14:17
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Sir Sidney Poitier posted:I don't think so, but someone earning £130k would, for example. Thats what I thought. Yet some silly tosser on jeremy vine who knows hes very privileged to earn 100k but, presumably unlike everyone else, he worked really hard for it and now hes questioning why because hes stuck paying more tax and he might have to go part time because he just cant bear the ghastly thought of paying more tax, but is prepared to earn less. Its always been like this its how tax works? No one challenged it.
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Nov 18, 2022 14:27
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NotJustANumber99 posted:Thats what I thought. Yet some silly tosser on jeremy vine who knows hes very privileged to earn 100k but, presumably unlike everyone else, he worked really hard for it and now hes questioning why because hes stuck paying more tax and he might have to go part time because he just cant bear the ghastly thought of paying more tax, but is prepared to earn less. With the number of loving U-turns in policy, who can even keep track of whether said tosser was referring to something Kwarteng said, comparing that with now.
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Nov 18, 2022 14:33
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Big Gerry having one last Twitter chuckle https://twitter.com/GerryAdamsSF/status/1593582494582030338
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Nov 18, 2022 14:34
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NotJustANumber99 posted:Thats what I thought. Yet some silly tosser on jeremy vine who knows hes very privileged to earn 100k but, presumably unlike everyone else, he worked really hard for it and now hes questioning why because hes stuck paying more tax and he might have to go part time because he just cant bear the ghastly thought of paying more tax, but is prepared to earn less. The part time stuff suggests there's a very good chance this person doesn't understand marginal tax rates. Every job I've worked at I've had to explain to someone that no, moving into the 40% tax bracket doesn't mean that you now pay 40% tax on everything you earn
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Nov 18, 2022 14:38
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Tarnop posted:The part time stuff suggests there's a very good chance this person doesn't understand marginal tax rates. Every job I've worked at I've had to explain to someone that no, moving into the 40% tax bracket doesn't mean that you now pay 40% tax on everything you earn I am not fortunate enough to have this problem myself, but I did hear a friend talking about there being a situation between something like £100-110k where you'd end up worse off than at £99k. I don't recall what it was, or know if it's accurate.
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Nov 18, 2022 14:44
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Sir Sidney Poitier posted:I am not fortunate enough to have this problem myself, but I did hear a friend talking about there being a situation between something like £100-110k where you'd end up worse off than at £99k. I don't recall what it was, or know if it's accurate. I am not in this situation myself but this is accurate, I think particularly if you have children in nursery - the 30 hours free childcare allowance is only for those on less than £100k a year. And since nurseries can cost £1600 a month for full time care, someone on £99k will have net income higher than someone on £100k. The rules are also weird in terms of households - two parents, each earning £99k will qualify for 30 hours free childcare. But if one parent earns £100k and the other £30k, they won’t.
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Nov 18, 2022 14:52
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Sir Sidney Poitier posted:I am not fortunate enough to have this problem myself, but I did hear a friend talking about there being a situation between something like £100-110k where you'd end up worse off than at £99k. I don't recall what it was, or know if it's accurate. Over 100k you start to lose your bottom end personal allowance but at half the rate you earn more so you should never pay more tax than if you earned less. I think. I'm sure he also said he was on an effective 60% rate above 100k? Like he thinks he pays 20% on his salary and then another 40% on eveything over 100k? Yeah I think thats what he must think. He earns all this money, has obviously never actually counted it, and gone on the radio to complain about it. But is totally wrong. And nothing just changed for him now anyway.
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Nov 18, 2022 14:52
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There is a effective 60% rate on earnings between 100k-125k, because you're both being charged at 40% and also losing some personal allowance. Then at 125k you're only paying 45% marginal rate, which is silly given it was 60% before. Clearly the answer is to keep personal allowance static, and have a actual 45% band at 100k and 60% band at 125k.
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Nov 18, 2022 15:00
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Lady Gaza posted:I am not in this situation myself but this is accurate, I think particularly if you have children in nursery - the 30 hours free childcare allowance is only for those on less than £100k a year. And since nurseries can cost £1600 a month for full time care, someone on £99k will have net income higher than someone on £100k. The rules are also weird in terms of households - two parents, each earning £99k will qualify for 30 hours free childcare. But if one parent earns £100k and the other £30k, they won’t. This is why my boss keeps voting tory! She earns under £30k FTE (well as she is PT its more like £12k - I do the finances so I know what it is) but her husband earns £60k (there's some cut off point around there) so they don't get a childcare allowance of some sort (don't ask me, I don't have kids and am not up on the ins & outs of childcare tax reliefs) but her friends - a couple earning £45k each - same gross pay - do get it and they vote labour. I did say to her that even if it was something Labour dreamed up last time they were the govt (I have no idea), tories have now been in govt 12 years so it must be exactly how they want it to be because 12 years is surely long enough for them to change things.
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Nov 18, 2022 15:01
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Nothingtoseehere posted:There is a effective 60% rate on earnings between 100k-125k, because you're both being charged at 40% and also losing some personal allowance. Then at 125k you're only paying 45% marginal rate, which is silly given it was 60% before. oh so he is right? fair enough. It still didnt just change with this budget though so I dunno why its a problem now.
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Nov 18, 2022 15:06
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NotJustANumber99 posted:oh so he is right?  Numbers aren't quite right any more but the principle is accurate. The big one is the huge jump when you've got 2 kids and move from 50-60k.
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Nov 18, 2022 15:11
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A lot of the rules around child benefit and personal allowance withdrawal are really stupid and counter-productive. There's someone out there with 3 kids and a plan 2 student loan who is paying a marginal tax rate of 77% on all income between £50k and £60k. Or someone with 3 young kids and an income of £99,999, for whom any pay rise would lose them money until they started earning over £119,000.
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Nov 18, 2022 15:16
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peanut- posted:Or someone with 3 young kids and an income of £99,999, for whom any pay rise would lose them money until they started earning over £119,000. How would it actually lose them money? Because the tax free allowance is lost gradually with every extra amount earned above 100k would they not just benefit less from the pay rise rather than actually lose money? NotJustANumber99 fucked around with this message at 15:20 on Nov 18, 2022 |
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Nov 18, 2022 15:18
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This kind of silliness is why means testing is looked on poorly in the thread. Large amounts of effort and administration to remove benefits from a small group of earners in the top 10%-20% which pisses them off, confuses everyone else, and could just be replaced by higher marginal rates if you really were concerned.
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Nov 18, 2022 15:21
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Camrath posted:Here, always watching, waiting for the fudge signal to shine in the night sky.. Congrats on to you and your new apprentice! My Kitchen French is sorely lacking these days or i would say it all proper like. 
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Nov 18, 2022 15:22
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NotJustANumber99 posted:How would it actually lose them money? Because £100k is a hard stop for the £2k per year per kid you can get from the government as child care subsidy, and the high marginal tax rate that applies in the £100-125k band means it takes a surprisingly large gross salary increase to make that back. The three kids all receiving child care subsidy example is extreme, but it applies to people with one or two kids as well. It's the kind of silly outcome that a tax system should try and avoid.
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Nov 18, 2022 15:29
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OwlFancier posted:Does... the magazine give you the recipe for making keir starmer...? 
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Nov 18, 2022 16:01
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For those looking forward to Xmas with the extended family (36.5 days to go!)
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Nov 18, 2022 16:01
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Jaeluni Asjil posted:For those looking forward to Xmas with the extended family (36.5 days to go!) I’m going to be stuck in northern France with my high Tory dad who is literally a soundboard filled with Murdochian talking points, my self-acclaimed centrist mother and my smug extremely wealthy claims-to-be-liberal-but-is-a-shy-Tory brother. At the moment I’m torn between faking gastroenteritis, leaning into it and wearing my ‘all I want for Christmas is the means of production’ sweater or murder-suicide as options. Because it’s gonna suck either way.
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Nov 18, 2022 16:11
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This is the Christmas for victory laps. Remember when the IEA got everything it ever wanted in a mini budget and the markets had to stop pretending and everything went poo poo? Remember when a conservative governor in South Korea decided to renege on bond payments for Legoland in what was described as a‘Truss-ian level act of economic self-harm’?’ Remember Elon Musk?
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Nov 18, 2022 16:32
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https://twitter.com/aaronbastani/status/1593637756982411264?s=46&t=Cjsp3P3KDeO1w0SZEVWeqg
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Nov 18, 2022 17:15
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B̵͙̅̔Û̴͚͙̤͗T̴̼̘̓̉ ̵̧̄̅̀W̶͙̅̍̅Ḩ̵̗̝̈́͝A̵̬̐T̶̠̑̀̒ ̷̈́͜A̴͍̝͛̆̈́B̸̛̌͜͝O̴͍͕̠͋Ṵ̶̂̌͋Ṯ̵̠̑͆̕ ̶̨̗̮̀D̸̟̓͗̆E̶̱̓̕B̴̫̹͑͝Ȃ̴̻T̶̠̰͕͊E̶͔͉͓͋͐͝
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Nov 18, 2022 17:35
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| # ? May 28, 2024 03:01 |
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Found kieth's electability https://twitter.com/DruidaGames/status/1593603884148264962
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Nov 18, 2022 17:37
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