Who earns 80 grand?

[-Ralph-]

This is what I like about bikers.
We all get wet, cold and grin a lot but we're from all walks of life and you never know, or really care, if the guy on the next bike or in the next tent is minted or skint.
It's also coming across here that we all believe in paying our taxes, most likey because we have enough sense to realise the benefits.
Lesson to the rest of the population methinks.

I don't begrudge a penny of the tax I pay, we live in one of the richest economies in the world, and one of the nicest places in the world (except the weather!), I'd much rather be here where that money is available than in most other societies around the world, but I do get upset about how it is spent sometimes.

I'm just recovering from an e-coli bloodstream infection contracted during a weekend stay and surgery in an NHS hospital that is in special measures. It was contracted through either the IV line, the catheter, or through my surgical incision and I've never been so ill in my life. Every part of the whole experience with the NHS has been simply horrendous, from stuff as simple as parking the car, or getting a nurse to bring a glass of water to your bed, though to the failings in infection control which means you go in with a broken ankle and come out seriously ill with none of your internal organs working. More money won't fix it. It needs taking to pieces and putting back together from top to bottom.

[-Ralph-]

Please can you show me how you get your figures on the £35k?

Income tax:
First £11,500 is tax free
£11,500 to £45,000 taxed at 20% = £6,700 tax
£45,000 to £100,000 taxed at 40% = £22,000 tax

National insurance:
£8,160 to £45,000 taxed at 12% = £4,421 NI
£45,000 to £100,000 taxed at 2% = £1,100 NI

So total tax and NI paid on £100,000 is £34,221 (34.2%)

Yep, done that thanks, see post above.

[dazcapri]

Last week I got my end of year certificate or P60, and just had a look and I earn £17327.93p gross and after tax, NI and pension come away each month with about £1200. Shite, literally, as i'm a binman.

About the same as me the boss is going to give us a rise when he "gets himself sorted out" that's the third in nine years but he's already said it won't be much the last three certainly weren't. I'm rapidly heading down towards the minimum wage when it goes up I stay where I'm at but I'm 50 with a bad back and the jobs steady and I work at my own pace. The last decent money I earned was labourer for an earth moving company,the last big job was the crane pad for the Angel of the North so roughly fifteenish years ago,£500 on top for an 80 hour week

[-Ralph-]

This is what I like about bikers.
We all get wet, cold and grin a lot but we're from all walks of life and you never know, or really care, if the guy on the next bike or in the next tent is minted or skint.
It's also coming across here that we all believe in paying our taxes, most likey because we have enough sense to realise the benefits.
Lesson to the rest of the population methinks.

I don't think you could be more wrong actually. There are more hand-wringing, chip-on-the-shoulder extreme right people on this forum than any other I've ever used. Read any thread here on immigration, syria and refugees and boom, there you go.

I'd agree with you on immigration, etc Mike, and there are a few who peddle the politics of jealousy who want to see anyone who has done better than them punished for it, but in the main when it comes to who has what, Steve is right, most people on here don't care and realise that they have what they worked for as a result of the opportunities they did or didn't grab hold of.

[tempesc]

The £80k figure quoted by Labour is for the top 5% of earners. I have a few friends who earn that sort of money, and know that there are a number of directors at work on that sort of cash as well. None of them live like Rockerfeller, there's no private helicopters, but plenty of nice cars and very nice holidays, all of them can afford to pay a little more tax.

Sounds like a balanced summary to me. I've just caught up with the higher income tax rate proposal from Labour and that seems fair.

Less convinced about a new nationalisation programme though.

The other suggestion from Labour, the 'Robinhood Tax' is another good one in my view. Millions of financial transactions take place in the city of London - buying and selling 'stuff' mostly tax free. A small levy on these transactions could bring in millions.

The City is more complicated. It's a significant part of our economy that we can't afford to lose, but which Paris and Frankfurt would love to take a slice of, as part of the Brexit process. In some contexts (for example corporation tax) putting the headline rate of tax up can actually reduce the tax collected as global institutions simply move trade to lower tax economies.

[Nigel]

This is what I like about bikers.
We all get wet, cold and grin a lot but we're from all walks of life and you never know, or really care, if the guy on the next bike or in the next tent is minted or skint.
It's also coming across here that we all believe in paying our taxes, most likey because we have enough sense to realise the benefits.
Lesson to the rest of the population methinks.

I don't begrudge a penny of the tax I pay, we live in one of the richest economies in the world, and one of the nicest places in the world (except the weather!), I'd much rather be here where that money is available than in most other societies around the world, but I do get upset about how it is spent sometimes.

I'm just recovering from an e-coli bloodstream infection contracted during a weekend stay and surgery in an NHS hospital that is in special measures. It was contracted through either the IV line, the catheter, or through my surgical incision and I've never been so ill in my life. Every part of the whole experience with the NHS has been simply horrendous, from stuff as simple as parking the car, or getting a nurse to bring a glass of water to your bed, though to the failings in infection control which means you go in with a broken ankle and come out seriously ill with none of your internal organs working. More money won't fix it. It needs taking to pieces and putting back together from top to bottom.

Thats awful Ralph and hope you are recovering but not all hospitals are bad,after realising I was having a heart attack last year I called an ambulance and within 2 hours I was having a stent put into my artery in the Norfolk and Norwich hospital, the care and treatment I received was second to none, 36 hours later I walked out of hospital, albeit slowly!
As for the local doctors surgery well that's another story!3 weeks to get an appoitment with gp well I'd only had a heart attack ffs!

[Teflon Jnr]

I personally couldn't care less what people have or how much they earn I have friends who have a lot and friends who don't I'm one that doesn't but I accept that as a part of life and the choices I made.everyone has the right to an opinion whether its right or wrong that's the joys of freedom of speech if people don't like to hear other people's opinions on immigration/things that matter to other people then either don't read them or start your own forum my suggestion on the name would be (I'm right) we all come from different walks of life backgrounds etc but we all come here for like mindedness let's all accept each others difference of opinions

[Dave DRZ]

The £80k figure quoted by Labour is for the top 5% of earners. I have a few friends who earn that sort of money, and know that there are a number of directors at work on that sort of cash as well. None of them live like Rockerfeller, there's no private helicopters, but plenty of nice cars and very nice holidays, all of them can afford to pay a little more tax.

The other suggestion from Labour, the 'Robinhood Tax' is another good one in my view. Millions of financial transactions take place in the city of London - buying and selling 'stuff' mostly tax free. A small levy on these transactions could bring in millions.

Dave

This is pure naivety. If this happens the banks would simply relocate - they would no longer be competetive. It will never, ever happen.

Also, lets get something else straight. In line with most professions, only the people at the top earn the big money. There are MANY "bankers" who do not earn more than any other profession.

It's been a long time since I've been called naive, Mike. I think it's an idea that's long overdue http://www.robinhoodtax.org.uk/

And, yes, I know that not all bankers earn massive salaries - some do, some don't - but this would be a small tax on buying and selling lots of products. There is a risk that banks could move activity overseas, but Brexit is forcing many to think about that anyway, the City of London is massive, they won't / can't all move overseas.

Dave

[tempesc]

Please can you show me how you get your figures on the £35k?

Income tax:
First £11,500 is tax free
£11,500 to £45,000 taxed at 20% = £6,700 tax
£45,000 to £100,000 taxed at 40% = £22,000 tax

National insurance:
£8,160 to £45,000 taxed at 12% = £4,421 NI
£45,000 to £100,000 taxed at 2% = £1,100 NI

So total tax and NI paid on £100,000 is £34,221 (34.2%)

[Andi_Archer]

Im not on that high a salary but can border the grey area between 20 and 40% so more is less sometimes.
Not to muddy the water but a friend in the U.S. just posted this treatment bill for a rattlesnake bite from a country with PAYG health care if anyone seems to think your National Insurance contributions dont make a difference to your health and welfare