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Spring election incoming on 16:23 - Nov 22 by giant_stow
Thanks for the explanations. I had a feeling the VAT thing sounded too good to be true, but think I may have also explained the chap's idea badly. It was just a caller to the Ian Dale show (on Monday night if anyone else heard it) so maybe he was a plonker and me to gullible.
I'd hazard a guess they were suggesting a charge each quarter based on the quarterly "profit" shown on the VAT Return.
This would also be flawed as it wouldn't allow for accounting adjustments.
Until there is an international consensus on how to tax global entities it will be close to impossible to do anything about it.
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Spring election incoming on 16:45 - Nov 22 with 1200 views
Spring election incoming on 15:13 - Nov 22 by bluelagos
Pensioners don't pay NI. So you'd be hitting them with an additional tax and that would cost a fair amount of votes.
So not going to happen.
No really a problem sadly too many pensioners don't have sufficient income to pay any tax at all.
Solution would be to increase the amount 'earned' before tax is paid for those over retirement age. In an ideal world the state pension wouldn't count towards income.
Spring election incoming on 17:02 - Nov 22 by Pinewoodblue
No really a problem sadly too many pensioners don't have sufficient income to pay any tax at all.
Solution would be to increase the amount 'earned' before tax is paid for those over retirement age. In an ideal world the state pension wouldn't count towards income.
When you have a spare 40 mins, have a watch. Some really interesting stats in there - think you will surprised at the wealth and income of the average pensioner.
(Not to say many are not on the breadline - and those that are clearly need state help)
Spring election incoming on 17:20 - Nov 22 by bluelagos
When you have a spare 40 mins, have a watch. Some really interesting stats in there - think you will surprised at the wealth and income of the average pensioner.
(Not to say many are not on the breadline - and those that are clearly need state help)
Skipped a lot of it but looked at all stats, most of them are now well out of date but suspect the trends shown have accelerated last couple of years.
Yet the number of pensioners that benefit from pension credit is higher than ever. Despite the fact that in recent years the number of boomers taking advantage of Equity release has been rising faster. This takes people off pension credit once old enough to claim it..
The sooner we have a government determined to even things out the sooner the differences .between the top 10% of earners and the bottom 30% is going to stop widening
Combining NI and Income tax would be a start but deciding the threshold at which pensioners start paying more tax than currently is likely to put off change. Don't see things improving after the next election.
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