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by pete75
25 Mar 2024, 1:28pm
Forum: The Tea Shop
Topic: War on Our Doorstep: How do we respond?
Replies: 1875
Views: 83001

Re: War on Our Doorstep: How do we respond?

UpWrong wrote: 24 Mar 2024, 7:57pm So the US warns the Kremlin of an imminent Islamist attack on a public gathering such as a theatre, and the Kremlin tells them to stop interfering. Islamist terror attack happens, Putin is silent for 24 hrs and then points the finger at the Ukranians. The man is despicable and pathetic.

The more interviews I hear with Russian defectors the more I hear them say the only way to deal with Putin is tell him that if he wants war then that is what he'll get. We need to stop backing off.
They warned of a likely attack in the 48 hours following March 7th. Three weeks ago.

[Moderator note - post edited for breach of Forum Guidelines.]
by pete75
25 Mar 2024, 10:24am
Forum: The Tea Shop
Topic: Just how long will it take to turn this ship around?
Replies: 103
Views: 2920

Re: Just how long will it take to turn this ship around?

Psamathe wrote: 25 Mar 2024, 9:52am
reohn2 wrote: 25 Mar 2024, 8:50am UK has the oldest housing stock the least floor space per person in Europe and pays the most for it according to an article in Sky news:- https://news.sky.com/story/uk-spends-mo ... o-13099925
A disappointing article in that whilst I can't dispute the claims it makes, the article really doesn't support its claims either. Normally such articles would have some tables listing a wide rnge of similar western countries so you can see how UK compares rather than "less than <couple of selected named countries>".

My personal view is it's poor reporting.

Ian
It's a news item based on a Resolution Foundation report. If you want to find the information it's based on look at it's quoted source. The article is fully informative. It gives an outline of the findings and tells you where to find the full report - at the Resolution Foundation.
https://www.resolutionfoundation.org/pu ... k-q1-2024/
by pete75
24 Mar 2024, 5:37pm
Forum: The Tea Shop
Topic: Just how long will it take to turn this ship around?
Replies: 103
Views: 2920

Re: Just how long will it take to turn this ship around?

rjb wrote: 24 Mar 2024, 3:29pm
pete75 wrote: 24 Mar 2024, 3:03pm
rjb wrote: 24 Mar 2024, 1:33pm Shirley the fairest tax regime would be to have one rate applied to all income. Having higher rates just increases salaries to try and make up the shortfall, so perpetuating escalating salaries. Scrapping personnel allowances would simplify the tax regime so everyone would know how much they owe.
It would mean a few years of pain until the new system stabilised. Less room for tax avoidance. Better transparency.
Any takers.
I'll get my lid on in anticipation of the incoming flack. :shock:
Someone on minimum wage and working 40 hours a week currently pays around £1800 pa in income tax. Under your system of abolishing the personal allowance, they'd pay about £4,300.
Any other great ideas to reduce the income of the lowest paid?
I didnt say it was going to happen overnight but at least Lizz Trust started the ball rolling. My idea is sensible and fair. Look at the overall picture. We are discussing taxation not income here. Will take some progressive planning, but it should reduce those eye watering salaries which take oppressive amounts of taxation into account when remuneration is calculated making more available for those further down the scale.
How can it be fair for someone to be taxed at 20% whilst others are taxed at 40%. Equality for everyone. :D
Taxation and income are closely linked. The system you proposed will reduce the income of anyone earning less than about £100,000 a year, with the lowest paid affected the most. You talk about progessive planning, I suggest you google progressive taxation.
The ball Liz Truss started rolling cost the UK about £30 billion before her and it were stopped.

If you wnat equality for everone perhaps you should be advocating equal incomes for all.
by pete75
24 Mar 2024, 5:30pm
Forum: The Tea Shop
Topic: Just how long will it take to turn this ship around?
Replies: 103
Views: 2920

Re: Just how long will it take to turn this ship around?

Carlton green wrote: 24 Mar 2024, 4:09pm
pete75 wrote: 24 Mar 2024, 11:00am
Carlton green wrote: 22 Mar 2024, 3:26pm

Whether it is relevant or not I do not know but:
# I know people for who the taper off of family benefit at (what was until recently) £50k was a disincentive to try to earn more.
# I know people for who the removal of personal allowances at - I think - £100k is a large disincentive to try to earn more, they just go part time and particularly so if their partner is on good money or they’re not going to earn much above £100k.
Personal tax allowance is tapered at losing £1 of allowance for every £2 earned over £100,000. In other words a £10,000 a year pay rise from £100,000 will still leave you £4,000 a year better off.
One person I know well earns over £100k, indeed she often gets a tax bill over that amount. It doesn't put her off increasing the profitability of her practice. She says the government takes a lot of tax from her but public services have to paid for, and she's still left with more than enough to get by on.
I think you miss the point that I try to make about the fiscal hurdles and disincentives that withdrawal of allowances put in the way of those who earn just enough to be punished by them.
I dealt with the effect of that in my first paragraph. People losing the allowances are still quite a bit better off when they earn more.
by pete75
24 Mar 2024, 3:03pm
Forum: The Tea Shop
Topic: Just how long will it take to turn this ship around?
Replies: 103
Views: 2920

Re: Just how long will it take to turn this ship around?

rjb wrote: 24 Mar 2024, 1:33pm Shirley the fairest tax regime would be to have one rate applied to all income. Having higher rates just increases salaries to try and make up the shortfall, so perpetuating escalating salaries. Scrapping personnel allowances would simplify the tax regime so everyone would know how much they owe.
It would mean a few years of pain until the new system stabilised. Less room for tax avoidance. Better transparency.
Any takers.
I'll get my lid on in anticipation of the incoming flack. :shock:
Someone on minimum wage and working 40 hours a week currently pays around £1800 pa in income tax. Under your system of abolishing the personal allowance, they'd pay about £4,300.
Any other great ideas to reduce the income of the lowest paid?
by pete75
24 Mar 2024, 2:57pm
Forum: The Tea Shop
Topic: Just how long will it take to turn this ship around?
Replies: 103
Views: 2920

Re: Just how long will it take to turn this ship around?

al_yrpal wrote: 24 Mar 2024, 1:28pm Taxation....

https://en.m.wikipedia.org/wiki/History ... to%2040%25.

Al
VAT increased from 8% to 15% shortly after Thatcher gained power and the overall tax burden under her regime increased slightly. The Cambridge Journal of Economics (CJE) “The total value of central government receipts was 30.4% of GDP in 1979; by 1990, this proportion had risen to 30.9%.” Taxes actually went up under Thatcher, and the increase fell hardest on the less well-off."
by pete75
24 Mar 2024, 11:00am
Forum: The Tea Shop
Topic: Just how long will it take to turn this ship around?
Replies: 103
Views: 2920

Re: Just how long will it take to turn this ship around?

Carlton green wrote: 22 Mar 2024, 3:26pm
pete75 wrote: 22 Mar 2024, 1:54pm
853 wrote: 22 Mar 2024, 1:06pm

Presumably you haven't heard of the Laffer curve, which states that when the tax rate goes beyond a certain rate tax revenues fall.

https://en.wikipedia.org/wiki/Laffer_curve
I have indeed heard of it, and know that it theorises that when the tax rate goes beyond a certain rate tax revenues fall.
Whether it is relevant or not I do not know but:
# I know people for who the taper off of family benefit at (what was until recently) £50k was a disincentive to try to earn more.
# I know people for who the removal of personal allowances at - I think - £100k is a large disincentive to try to earn more, they just go part time and particularly so if their partner is on good money or they’re not going to earn much above £100k.
Personal tax allowance is tapered at losing £1 of allowance for every £2 earned over £100,000. In other words a £10,000 a year pay rise from £100,000 will still leave you £4,000 a year better off.
One person I know well earns over £100k, indeed she often gets a tax bill over that amount. It doesn't put her off increasing the profitability of her practice. She says the government takes a lot of tax from her but public services have to paid for, and she's still left with more than enough to get by on.
by pete75
22 Mar 2024, 1:54pm
Forum: The Tea Shop
Topic: Just how long will it take to turn this ship around?
Replies: 103
Views: 2920

Re: Just how long will it take to turn this ship around?

853 wrote: 22 Mar 2024, 1:06pm
Nearholmer wrote: 22 Mar 2024, 9:48am Personally, I’m in favour of progressive income tax (higher rates for higher bands of income), but would rather see that done overtly than by the semi-covert erosion of allowances, even if the net result is the same.
Presumably you haven't heard of the Laffer curve, which states that when the tax rate goes beyond a certain rate tax revenues fall.

https://en.wikipedia.org/wiki/Laffer_curve
I have indeed heard of it, and know that it theorises that when the tax rate goes beyond a certain rate tax revenues fall.
by pete75
21 Mar 2024, 3:00pm
Forum: The Tea Shop
Topic: State Pension
Replies: 258
Views: 20662

Re: State Pension

toontra wrote: 21 Mar 2024, 10:55am
pete75 wrote: 21 Mar 2024, 10:47am It's not benefitting wealthier people, it's not affecting them.
It's increasing the disparity between the wealthy and the poorest - in effect benefiting them comparatively.
If your neighbour's income falls compared to your own that is of no benefit to you whatsoever.
by pete75
21 Mar 2024, 10:47am
Forum: The Tea Shop
Topic: State Pension
Replies: 258
Views: 20662

Re: State Pension

toontra wrote: 21 Mar 2024, 10:11am
pete75 wrote: 21 Mar 2024, 9:40am Do you really think they have any deluded thoughts they may win the next election?
That's not the point. The point is they've brought in tax policies that will benefit themselves and their funders/influencers at the expense of the least well off. It's not a vote-winning exercise - it's a final pay-off to themselves. An incoming government would have to reverse these policies.

Whether the electorate will punish them for it is another question.
It's not benefitting wealthier people, it's not affecting them. They stay as they would be even if the thesholds were raised. It's been done so they can pretend to reduce taxation by lowering NI etc. The latter is not necessarily a bad thing. NI is a tax, whatever they call it, and one of the wealthier sections of society, the over 65s don't pay it. They do pay income tax though and incorporating it in that would help lighten the load on younger folk.
by pete75
21 Mar 2024, 9:40am
Forum: The Tea Shop
Topic: State Pension
Replies: 258
Views: 20662

Re: State Pension

pwa wrote: 20 Mar 2024, 8:32pm
pete75 wrote: 20 Mar 2024, 8:25pm
al_yrpal wrote: 8 Mar 2024, 4:52pm Yes, cant imagine how I missed that? I remember being pleased when the tax free allowance was last increased but missed the fact that it wouldnt change for many years. I suppose that they must have imagined that inflation would remain very low, but, suddenly we have had an enormous increase in inflation. So, perhaps they should revise that decision and increase the tax free amount. Bet on that just before the forthcoming election - vote winner!

Al
Thinking inflation would remain low - hardly. The freeze was intoduced in 2021 and wa sto last until the 2025-26 tax year. Inflation at the time was about 3.5%. In 2022 when inflation was running at over 10%, the freeze was extended to the 2027-28 tax year.

People earning over about £125,000 a year don't get any tax free allowance, in other words the freeze won't affect the people the Conservative party represents. From a Tory point of view it's a perfect tax rise, the poor pay more and the wealthy don't.
Until election time, when people on modest incomes take stock and decide that they don't actually like having an ever increasing proportion of their income going as tax. Even the Tories can't get elected with only the better off supporting them.
Do you really think they have any deluded thoughts they may win the next election?
by pete75
21 Mar 2024, 9:38am
Forum: The Tea Shop
Topic: State Pension
Replies: 258
Views: 20662

Re: State Pension

al_yrpal wrote: 21 Mar 2024, 8:11am
pete75 wrote: 20 Mar 2024, 8:25pm
People earning over about £125,000 a year don't get any tax free allowance, in other words the freeze won't affect the people the Conservative party represents. From a Tory point of view it's a perfect tax rise, the poor pay more and the wealthy don't.
Theres only about half a million people earning that or more and their collective efforts wont win an election. The Torys appeal has to be wider than that.

Al
They're the people the Tories are there to represent. The party's success is in convincing those lower down the income scale that they represent them as well.
by pete75
20 Mar 2024, 8:25pm
Forum: The Tea Shop
Topic: State Pension
Replies: 258
Views: 20662

Re: State Pension

al_yrpal wrote: 8 Mar 2024, 4:52pm Yes, cant imagine how I missed that? I remember being pleased when the tax free allowance was last increased but missed the fact that it wouldnt change for many years. I suppose that they must have imagined that inflation would remain very low, but, suddenly we have had an enormous increase in inflation. So, perhaps they should revise that decision and increase the tax free amount. Bet on that just before the forthcoming election - vote winner!

Al
Thinking inflation would remain low - hardly. The freeze was intoduced in 2021 and wa sto last until the 2025-26 tax year. Inflation at the time was about 3.5%. In 2022 when inflation was running at over 10%, the freeze was extended to the 2027-28 tax year.

People earning over about £125,000 a year don't get any tax free allowance, in other words the freeze won't affect the people the Conservative party represents. From a Tory point of view it's a perfect tax rise, the poor pay more and the wealthy don't.
by pete75
9 Mar 2024, 12:28am
Forum: The Tea Shop
Topic: Ex-Post Office CEO Paula Vennells
Replies: 553
Views: 34141

Re: Ex-Post Office CEO Paula Vennells

roubaixtuesday wrote: 7 Mar 2024, 9:56am
pete75 wrote: 23 Feb 2024, 3:09pm
freiston wrote: 23 Feb 2024, 1:58pm
Is that still the case?

https://www.theguardian.com/society/202 ... -in-prison
If the Guardian is to be believed anymore than it's mirror image, the Daily Mail, then it isn't.
The Guardian is not remotely the mirror image of the Mail. It's not even the mirror image of the Telegraph.
You must be looking at different papers to the ones normally published under those names.
by pete75
1 Mar 2024, 9:56pm
Forum: The Tea Shop
Topic: UK Politics
Replies: 949
Views: 74365

Re: UK Politics

pwa wrote: 1 Mar 2024, 9:51pm
reohn2 wrote: 1 Mar 2024, 8:05pm
853 wrote: 1 Mar 2024, 6:13pm

I've decided that unless a new party, that I genuinely agree with, put ups a candidate in my constituency I'll be spoiling my ballot paper. I think I'm likely to add a new row at the bottom with the words "None of the above sewage* " and putting a cross by that.

I think it is important to vote, but I also think it is import to express our disgust at the current political parties and their warped views. Maybe if enough voters tell the current political parties that they're sewage, on the ballot paper, they'll take notice.

* Or something similar
+1 no party where I live is attracting my vote,so I'll probably do the same :? .
Surely the traditional British way is to vote for the least worst option. Whichever that is. Vote to avoid the worst of the likely outcomes.
Nah, if that were the case we would still be in the EU.