The Theresa May General Election thread (edited)

Fretwired

capo4th said:

Jeremy clearly wanting to be seen on tv tonight with lots of Labour banners and people without jobs supporting him to grow his money tree.

He doesn't need a money tree:

• Corporation tax increased to 26%
• A 45p tax band for people earning £80,000
• A 50p tax band for people earning over £123,000
• Close tax loopholes
  

This will raise £48 billion. Not a tree in sight.

Axe_meister

And screw the middle classes in the process. Reduce consumer spending thus reducing the overall tax take.
If somebody earns £100,000K today they will loose £1k in tax.
So £1k less to spend, which is already £200 not being paid in VAT.
The other £800 will not be going to company that is employing somebody who as a result may get laid off, thus becoming a burden on society.
People in this range of income have already lost their Tax free allowance (2K). If they have children they have already lost their child allowance.

Fretwired

equalsql said:

May.. "She's a sneeky little fucker isn't she!"

This somes it up for me.

Personally I find Pie boring now .. it's same old, same old .. he's become a parody of  a 1980's era Ben Elton throwing in the odd 'fuck' as if it's edgy .. well Mr Pie is it isn't. The Yanks do this much better ...

guitarfishbay

Axe_meister said:

And screw the middle classes in the process. Reduce consumer spending thus reducing the overall tax take.
If somebody earns £100,000K today they will loose £1k in tax.
So £1k less to spend, which is already £200 not being paid in VAT.
The other £800 will not be going to company that is employing somebody who as a result may get laid off, thus becoming a burden on society.
People in this range of income have already lost their Tax free allowance (2K). If they have children they have already lost their child allowance.

Re: bold bit

I keep seeing this written as an absolute fact but the actual law is: 

https://www.gov.uk/income-tax-rates/income-over-100000

3. Income over £100,000

Your Personal Allowance goes down by £1 for every £2 that your adjusted net income is above £100,000. This means your allowance is zero if your income is £123,000 or above.

guitarfishbay

Personally I don't see why more benefits/allowances couldn't be arranged in a similar simplistic way... rather than a hard yes/no at a specific point, make it more gradual then it is more fair.

Axe_meister

Exactly so now they will be hit with another 5% on top of what they have already lost if they are on £120K (a school head, a doctor), So if you are on £123K with 5% extra tax above £80,000 that is 5% of £43,000 = £2150 and the £2K you have already lost from your tax free allowance and that is £4140 a year. If you have two children and you used to get child allowance that is another £1644 do a total loss of £5784 since the recession hit. Which is about a months Salary after tax.
If you where a Head teacher/Doctor, i.e. in the public sector you would not have had much of a pay rise any way.

Cirrus

Axe_meister said:

And screw the middle classes in the process. Reduce consumer spending thus reducing the overall tax take.
If somebody earns £100,000K today they will loose £1k in tax.
So £1k less to spend, which is already £200 not being paid in VAT.
The other £800 will not be going to company that is employing somebody who as a result may get laid off, thus becoming a burden on society.
People in this range of income have already lost their Tax free allowance (2K). If they have children they have already lost their child allowance.

And at the other end of it, with a minimum wage rise and a promise to maintain existing EU derived employment laws, people in work will feel more confident in the future and hence happier to spend. And if the rise in minimum wage causes inflation to rise, even better! How else are we going to work down national debt, while also encouraging spending? My concern with continued austerity is that it continues to generate fear and uncertainty in markets, and that prolongs stagnation.

Axe_meister

Surely we should shift the tax thresholds to the right taking people out of the 40% bracket which has not moved much at all in real terms. Companies are not giving pay rises in line with the ever increasing costs of living.
Have a tax on household income so households with a single higher salary are disadvantaged. So a parent can decided to look after kids in early age rather than take up a nursery place.

capo4th

Fretwired said:

capo4th said:

Jeremy clearly wanting to be seen on tv tonight with lots of Labour banners and people without jobs supporting him to grow his money tree.

He doesn't need a money tree:

• Corporation tax increased to 26%
• A 45p tax band for people earning £80,000
• A 50p tax band for people earning over £123,000
• Close tax loopholes
  

This will raise £48 billion. Not a tree in sight.

Are you Diane Abbott? What effect do you think this will have on the UK and its talent ? 

I expected more from you but you have clearly watched too many Corbyn rallys

capo4th

Axe_meister said:

And screw the middle classes in the process. Reduce consumer spending thus reducing the overall tax take.
If somebody earns £100,000K today they will loose £1k in tax.
So £1k less to spend, which is already £200 not being paid in VAT.
The other £800 will not be going to company that is employing somebody who as a result may get laid off, thus becoming a burden on society.
People in this range of income have already lost their Tax free allowance (2K). If they have children they have already lost their child allowance.

Correct the knock on will be huge but Labour have not thought that far ahead just screw successful people, business and entrepreneurs 

capo4th

Axe_meister said:

Exactly so now they will be hit with another 5% on top of what they have already lost if they are on £120K (a school head, a doctor), So if you are on £123K with 5% extra tax above £80,000 that is 5% of £43,000 = £2150 and the £2K you have already lost from your tax free allowance and that is £4140 a year. If you have two children and you used to get child allowance that is another £1644 do a total loss of £5784 since the recession hit. Which is about a months Salary after tax.
If you where a Head teacher/Doctor, i.e. in the public sector you would not have had much of a pay rise any way.

That's why intelligent successful hard working people will elect Theresa May as Prime minister on Thursday

thomasw88

capo4th said:

Axe_meister said:

Exactly so now they will be hit with another 5% on top of what they have already lost if they are on £120K (a school head, a doctor), So if you are on £123K with 5% extra tax above £80,000 that is 5% of £43,000 = £2150 and the £2K you have already lost from your tax free allowance and that is £4140 a year. If you have two children and you used to get child allowance that is another £1644 do a total loss of £5784 since the recession hit. Which is about a months Salary after tax.
If you where a Head teacher/Doctor, i.e. in the public sector you would not have had much of a pay rise any way.

That's why UNintelligent OLD  people will elect Theresa May as Prime minister on Thursday

corrected that for you mr daily mail.

bingefeller

I bet if Corbyn gets in Sinn Fein will take their seats in Westminster.  

jellyroll

• A 45p tax band for people earning £80,000

• A 50p tax band for people earning over £123,000

    "For the many, not the few"......or rather.....let's make the few pay for the many

Rocker

bingefeller said:

I bet if Corbyn gets in Sinn Fein will take their seats in Westminster.  

Is there a connection between the two?

joneve

jellyroll said:

• A 45p tax band for people earning £80,000

• A 50p tax band for people earning over £123,000

    "For the many, not the few"......or rather.....let's make the few pay for the many

I know it's easy to say, but if I was earning £80,000 per year (I currently earn £30k and struggle to make ends meet each month because of the cost of living), I'd be happy to pay a bit of extra tax if it meant helping fund the NHS and the like. 

I should be clear, I'm not a fan of Corbyn or May and wish they would both get in the fucking sea, but on 80,000 per year, even after tax, I'd still have enough to comfortably live and have my wife work part time or become a full time mum when our child arrives.

I should also note that I work fucking hard for that 30k a year, so I don't want any "well work harder or have more ambition so you can earn more money" arguments. As it's obviously not as black and white as that. 

Axe_meister

jellyroll said:

• A 45p tax band for people earning £80,000

• A 50p tax band for people earning over £123,000

    "For the many, not the few"......or rather.....let's make the few pay for the many

But your hitting the wrong few. These are the people on PAYE. Don't live lavish life styles, have sky high mortages (thanks to the last labour government that started the high price escalator).
We already have a 45p tax band on £150K, stick the 50% on say £250k.
Move the 20% tax band to 12000, 40% tax band to 60k. Taking a lot of people out of a tax band they should never be in, get them spending and the economy will start to grow.
And don't just start spending like money is going out of fashion. We have Brexit to pay for first.

Fretwired

jellyroll said:

• A 45p tax band for people earning £80,000

• A 50p tax band for people earning over £123,000

    "For the many, not the few"......or rather.....let's make the few pay for the many

But that's what is happening with income tax. The Tories have shot themselves in the foot by effectively taking a lot of people out of the tax system. Fewer real tax payers will simply demand higher taxes on the better off as it doesn't affect them. We are living in a low wage economy.

Snap

26% corporation tax and out of the EU.

Making the UK a really attractive place to do business, set up businesses and create jobs.

A totally bloody stupid idea this is, very naiive and poorly thought out. Ireland has a rate of 12.5% and look how they are benefitting. I'm not sure this fella has much of a grasp on reality

Corbyn calling for May to resign today is a terrible display of opportunism in the worst circumstances. Blatanly grasping for political capital.

There are ways and means of making your point, but this is very poor behaviour. 

Axe_meister

My personal prefernce though is stick 1% on every tax band, that would actually bring in alot more money in real terms without loading any particular part of society.
Scrap HS2 and use the money to build affordable housing.