Plans for over-40s to pay more tax

So you can be below 40 on a high paid job and don't have to pay anything in to what's being proposed. But if on your 40th birthday you're on min wage struggling to get by you have to start paying it simply because of your age not income or general circumstances. All sounds a bit ageist.

 

I’ve been paying income tax and NI since I was 21.
I turn 56 this year and instead of looking forwards to a retirement on an ok pension (work for private companies so never had the luxury of a defined benefits scheme), I’m looking to see if I can work another couple to see if I can get my family comfortable enough until the state pension kicks in in over 10 years.

So why does the government reckon it needs to be over 40s that pay? I doubt the over 50s and over 60s will be capable of finding that extra tax to pay for something they’ve been paying for for 30 or 40 years already.

Just simplify the tax structure and raise income tax. Start the banding a little higher to compensate the lower earners. Have a second band by all means.
Corporation tax is broken cos the governments been handing out free money to (rightly) keep people in jobs
Hitting people with wealth or inheritance tax increases penalises those who have saved and planned. Not only for themselves, but for their families. It will have the effect of people spending rather than saving and just kicks the can down the road.

so, a little on income tax, raise the bar and go after the hedge funds.

 

This. And BT, Boots, Tesco and all the rest who got to take HMRC bods out to dinner. BT had a billion pounds knocked off their tax bill doing just this. Close the loopholes and introduce more tax bands. No one 'earns' billions of pounds a year. We need to reintroduce the old 90% plus tax brackets I'm not saying for people even earning a few hundred grand but it's become a joke that PAYE folk on minimum wage can end up paying more tax than corporations making millions.

Oh, and a brexit snake tax. All these feckers who advocated leave then all of a sudden have found themselves EU passports or moved their businesses abroad to keep the benefits of EU membership for themselves. These people in particular should be putting their hands in their pockets.

But it looks like the slide to privatised health care is gaining pace. Farage will be pleased since he advocated this.

Rant over. For now.

 

I'll just leave this here...

 

Doomed to failure if it’s arbitrarily based on age.
Unless we’re about to remove age discrimination from the statute books now we’ve left the EU.

 

Close tax loop holes ... investigate off shore dealings- sorted!

 

I’ve no idea - is theirs age based?

All I can say is that the 2015 change made to public sector pensions was decreed illegal, not because it was a crap deal, or cost employees loads more money for no gain. But because they imposed different rules for different people based on their age.

See also the horrible way they treated some women with the pension age rise. Easy for them to defend legally as it equalised the age for all.

 

Bring back the poll tax.

 

Happy birthday, here's a pay cut.

Tax your chums properly Boris you c.nut and leave the poor alone for once you racist sexist woman beating lying pig.

 

Just give me a ******* cyanide tablet on new years eve I'm 60 so **** it get rid of me as ive not paid enough in to ******* system to assist every other fooker than me .

 

Personally I dont really have a problem with the equity in my house funding care home fees. I wont need it again after all. Yes, we'd all love to leave something to the kids but if they want the house they'll have to look after me in old age!!

 

Really so someone works extra hard to create equity when they get older.
Than someone who pissed it up the wall gambles and didn't take care of their future as equal rights.
Wow i must be becoming a Tory in disguise

 

I'm thinking more of those that have to rent because they cant afford to buy. I've had the stability of a house where I know how much mortgage I'm paying a month, where I'm living rent free once I've paid said mortgage and is worth more than double the price it was when I bought it, despite me doing nothing to earn that increase.

 

10% of people born since 1980 will inherit more money than the average person in this country will earn in half a lifetime.

Become a tory all you want (plenty are trying it), but it's sure as hell not your equity they'll be defending.

 

Genuine question, not a challenging one - where did that stat come from? Is it based on property value increases and the inheritance of wealth associated with being left a house? If so, that's incredible and shows the levels of the markets since the 90s.