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September 22 2019 11.49am

Conservative Party Leadership Campaign

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View robdave2k's Profile robdave2k Flag Corby 10 Jun 19 9.40am Send a Private Message to robdave2k Add robdave2k as a friend

Originally posted by the.universal

Why anyone thinks tax cuts for the rich is a good idea is beyond me.

What he has said is he would lift it (the threshold) from £50k to £80k

Will at least repair some of the damage that clown Hammond has done to the self employed.

Earning £80k a year doesn’t make you rich. It makes you well off, but not rich.

 

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View Bexley Eagle's Profile Bexley Eagle Flag Bexley Kent 10 Jun 19 9.43am Send a Private Message to Bexley Eagle Add Bexley Eagle as a friend

Originally posted by dollardays

Once you pop, you can't stop! Gove simply cannot stop talking about doing Cocaine. The latest -

Michael Gove admits he was lucky to avoid jail over cocaine use - [Link]

These days is anyone even in the least bit surprised about politicians doing drugs at one time or other? So is this just a misjudged endless OTT apology, or is he trying to paint himself as some kind of edgy and unpredictable figure? Are we seeing the emergence of Dangerous Gove!?

Trouble is everyone knows Gove is an odious little man. Now we all know he is an odious little man with his snout in the trough.

 

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View Bexley Eagle's Profile Bexley Eagle Flag Bexley Kent 10 Jun 19 9.45am Send a Private Message to Bexley Eagle Add Bexley Eagle as a friend

Originally posted by Midlands Eagle

Boris has just pledged to cut income tax for everyone earning over £50,000 pa so he's got my vote

Always like Boris.

 

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View topcat's Profile topcat Online Flag Holmesdale / Surbiton 10 Jun 19 10.08am Send a Private Message to topcat Add topcat as a friend

Originally posted by dollardays

Once you pop, you can't stop! Gove simply cannot stop talking about doing Cocaine. The latest -

Michael Gove admits he was lucky to avoid jail over cocaine use - [Link]

These days is anyone even in the least bit surprised about politicians doing drugs at one time or other? So is this just a misjudged endless OTT apology, or is he trying to paint himself as some kind of edgy and unpredictable figure? Are we seeing the emergence of Dangerous Gove!?

I don't think many people care if people take illegal drugs, it's just the hypocrisy that goes with it. What they are saying is that it is fine for them to take illegal drugs but not for anyone else.

 


It's 106 miles to Chicago, we got a full tank of gas, half a pack of cigarettes, it's dark... and we're wearing sunglasses.

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View the.universal's Profile the.universal 10 Jun 19 10.09am Send a Private Message to the.universal Add the.universal as a friend

Originally posted by robdave2k

What he has said is he would lift it (the threshold) from £50k to £80k

Will at least repair some of the damage that clown Hammond has done to the self employed.

Earning £80k a year doesn’t make you rich. It makes you well off, but not rich.

Ok then, why anyone thinks tax cuts for the well off is a good idea is beyond me.

 


Vive le Roy!

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View DanH's Profile DanH Flag SW2 10 Jun 19 10.32am Send a Private Message to DanH Add DanH as a friend

Originally posted by Midlands Eagle

Boris has just pledged to cut income tax for everyone earning over £50,000 pa so he's got my vote

This would put a considerable amount extra in my pocket every month but I still think it's a stupid idea.

 


Tw@tter:

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ChrisGC Flag Wantage 10 Jun 19 10.36am

Originally posted by DanH

This would put a considerable amount extra in my pocket every month but I still think it's a stupid idea.

Yeah, ok. Next scene Turkeys vote for crimbo.

Edited by ChrisGC (10 Jun 2019 10.36am)

 

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View robdave2k's Profile robdave2k Flag Corby 10 Jun 19 10.42am Send a Private Message to robdave2k Add robdave2k as a friend

Originally posted by the.universal

Ok then, why anyone thinks tax cuts for the well off is a good idea is beyond me.

Ok to put into context.

You are self employed - one man band earning £40 - 50k.

You take on 2 workers to help grow. Now you have to act as an unpaid tax collector for HMRC, have increased compliance costs and any additional profit you do make will be taxed at a higher rate between 42 - 51.5% depending on how you are setup. You also get no benefits and have to fund their pension as well as your own

You add in then the additional costs of Making Tax Digital that has happened and all the additional changes that could happen as a result of Brexit.

I'm not advocating cuts for fat cat board members, but you have to make the country aspirational. Lifting it to £80k will help - and you need an engine room of small business to do that.

For someone on £500k a year it won't make a difference and I'm not advocating that, but it will make a massive difference to those on mid range incomes - who seem to get shafted by every government.

 

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View DanH's Profile DanH Flag SW2 10 Jun 19 10.44am Send a Private Message to DanH Add DanH as a friend

Originally posted by ChrisGC

Yeah, ok. Next scene Turkeys vote for crimbo.

Edited by ChrisGC (10 Jun 2019 10.36am)

Most the extra would go into a savings account/overpayments on my mortgage. If you're going to make tax cuts like that to boost spending you're better off putting it into the hands of people who will actually spend it. It's basic economics.

 


Tw@tter:

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View DanH's Profile DanH Flag SW2 10 Jun 19 10.45am Send a Private Message to DanH Add DanH as a friend

Originally posted by robdave2k

Ok to put into context.

You are self employed - one man band earning £40 - 50k.

You take on 2 workers to help grow. Now you have to act as an unpaid tax collector for HMRC, have increased compliance costs and any additional profit you do make will be taxed at a higher rate between 42 - 51.5% depending on how you are setup. You also get no benefits and have to fund their pension as well as your own

You add in then the additional costs of Making Tax Digital that has happened and all the additional changes that could happen as a result of Brexit.

I'm not advocating cuts for fat cat board members, but you have to make the country aspirational. Lifting it to £80k will help - and you need an engine room of small business to do that.

For someone on £500k a year it won't make a difference and I'm not advocating that, but it will make a massive difference to those on mid range incomes - who seem to get shafted by every government.

I agree with this though. The self-employed/small business owners do need more help.

 


Tw@tter:

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View the.universal's Profile the.universal 10 Jun 19 11.01am Send a Private Message to the.universal Add the.universal as a friend

Originally posted by robdave2k

Ok to put into context.

You are self employed - one man band earning £40 - 50k.

You take on 2 workers to help grow. Now you have to act as an unpaid tax collector for HMRC, have increased compliance costs and any additional profit you do make will be taxed at a higher rate between 42 - 51.5% depending on how you are setup. You also get no benefits and have to fund their pension as well as your own

You add in then the additional costs of Making Tax Digital that has happened and all the additional changes that could happen as a result of Brexit.

I'm not advocating cuts for fat cat board members, but you have to make the country aspirational. Lifting it to £80k will help - and you need an engine room of small business to do that.

For someone on £500k a year it won't make a difference and I'm not advocating that, but it will make a massive difference to those on mid range incomes - who seem to get shafted by every government.

I think this is a fair enough example. I agree more could be done to incentivise entrepreneurialism.

However most affected by this change will not fall into that bracket. Most will be working for someone else and most of the others will be rich pensioners.

Something more targeted (and a hell of a lot cheaper) to stimulate growth seems like a good idea. Tax cuts disproportionately benefitting the well off, not so much.

 


Vive le Roy!

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View Bexley Eagle's Profile Bexley Eagle Flag Bexley Kent 10 Jun 19 11.56am Send a Private Message to Bexley Eagle Add Bexley Eagle as a friend

Originally posted by robdave2k

Ok to put into context.

You are self employed - one man band earning £40 - 50k.

You take on 2 workers to help grow. Now you have to act as an unpaid tax collector for HMRC, have increased compliance costs and any additional profit you do make will be taxed at a higher rate between 42 - 51.5% depending on how you are setup. You also get no benefits and have to fund their pension as well as your own

You add in then the additional costs of Making Tax Digital that has happened and all the additional changes that could happen as a result of Brexit.

I'm not advocating cuts for fat cat board members, but you have to make the country aspirational. Lifting it to £80k will help - and you need an engine room of small business to do that.

For someone on £500k a year it won't make a difference and I'm not advocating that, but it will make a massive difference to those on mid range incomes - who seem to get shafted by every government.

A good post Sir.

 

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