Spurs. IT geek. Europhile. Cycling. Politically central. Fan of the Spurs Interactive Message Board (SIMB)
London, England
Joined August 2014
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In 1990, 1.7 million British people paid the 40% rate of income tax.
By 2027, almost 9 million are projected to pay higher or additional rates.
From roughly 1 in 15 income taxpayers to more than 1 in 5.
On Budget Day, itβs worth remembering that higher-rate tax has become an increasingly ordinary tax on aspiration.
Britain needs lower taxes & less government in our lives.
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Britainβs new minimum wage: Β£27,456 a year.
Higher-rate income tax kicks in at Β£50,270.
Wage compression the Soviet Union could only have dreamed of.
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Sigue siendo el mejor vΓdeo sobre adicciΓ³n que se ha creado
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π¨Bridget Phillipson DESTROYED
βGovernment money is taxpayersβ money.β
Conservative MP Nigel Huddleston reminds Labour minister that every pound the government spends comes from taxpayers, as public frustration grows over rising taxes and how their money is redistributed.
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FT comments never miss.
I donβt think Iβve read such a rational analysis of the situation weβre in for a long time.
I've been in France since 2002 and have never seen the streets so violent nor the politics so extreme. From the sacking of the supermarket on my street to the prospect of PrΓ©sidente Le Pen, here's me @FT including thoughts from 2 French Nobel laureates as.ft.com/r/addcad57-0f9d-4eβ¦
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GB News is absolutely deranged. This is superb.
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Exactly as I have been saying!
IMF: Healey should cut welfare spending instead of taxing banks
telegraph.co.uk/business/202β¦
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Job cuts will help Arsenal "evolve and improve", claims Arteta
Manager whose new pay deal is worth Β£20m a year has been told 60 redundancies are necessary so club can "keep investing" | βοΈ @garyjacob
thetimes.com/sport/football/β¦
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Following @TorstenBellβs petulant rant this morning at industry concerns over possible pension tax raids in the Budget, hereβs a handy link to a Resolution Foundation paper from 2019 arguing for a reduction to tax free cash, written by one Torsten Bell
resolutionfoundation.org/comβ¦
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π¨NEW: Labour is raising taxes at the fastest pace of any Western country, according to the International Monetary Fund
Raids on households and businesses will push Britainβs tax burden to a peacetime high of 41.9% of GDP by the start of next year
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The UK taxpayer has footed the bill due to government mismanagement.
Over 10 years here are some of the worst cases: π§΅
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This is what happens when you put up business rates, national insurance and the minimum wage.
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Devastating @WSJ piece
The welfare state is crushing Britain
Some seven million peopleβmore than 10% of the populationβnow claim at least one or more sickness or disability benefits.
wsj.com/world/uk/united-kingβ¦
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Yet another billionaire has left Britain. This time it's insurance entrepreneur Sir Peter Wood who has moved his tax residence to Florida in the U.S.
He's saying that he won't be much better off tax-wise but Florida has no state-level income tax, capital gains tax, or inheritance tax. So he will be subject to federal taxes, which are much lower than those in the UK and cut in at much higher thresholds.
The British Exchequer will definitely be worse off.
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Whatβs more dangerous? The push or the head kiss. Rules need fixing.
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Created in 2009.
If it had increased with inflation, it would be Β£174,000 now.
But the Β£100k tax trap was extended to 2031 by Rachel Reeves.
The result?
- People turn down promotions.
- Reduce their working hours.
- Avoid earning more.
When you punish productivity, donβt be surprised when you get less of it.
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More populist tosh from the TUC.
There was no "tax break for the banks". The 8% bank surcharge was created to offset the corporation tax cut from 28% to 20%.
So, when corporation tax then went up 5% to its current level, the surcharge went down 5%.
Not a tax break.
