Pensioners pay bankers' bonus

[David Johnson]

Well there you have it. On the one hand, tax rate reduction for those on above ?150K from 50p to 45p in 2013. Works out as a tidy sum for all those millionaire bankers out there.

And where is a big chunk of the money coming from? For 2011-12, the pensioners personal allowance is over ?2K more than the basic tax allowance for people working and gets updated on a regular basis. The extra allowance for pensioners reflected the fact that they were on a fixed income including in many cases relatively low pensions.

But now from 2013, for new pensioners the personal tax allowance for pensioners will be the same as the basic tax allowance.

Well done, pensioners for supporting UK millionaires. Don't worry you can always get a few extra hours at B&Q!!!

[Gusset Sniffer]

Disgusting. I can't quite believe they had the balls to do it????? The Lib dems should be ashamed of themselves.

[img]http://static.guim.co.uk/sys-images/Obs ... rybull.jpg[/img]

[Zorro]

David

As always in an attempt to bash the Tories you only give a fraction of the story, you clearly forgot to mention:

Raising the threshold at which people start paying tax to more than ?9,000, leaving millions of working people over ?200 better off.

A new 7% rate of stamp duty would be charged on properties worth more than ?2m - and anyone trying to buy a ?2m home through a company would face a punitive 15% stamp duty rate.

Withdrawing Child benefit when someone in a household earned more than ?50,000, at a rate of 1% of the benefit for every ?100 up until ?60,000, when it would be cut entirely.

Looking at the budget to me it looks like the poor will be better off, the rich will be better off and those in the middle will bear the brunt of it, which is the way life goes.

[jimslip]

Zorro wrote:

> David
>
> As always in an attempt to bash the Tories you only give a
> fraction of the story, you clearly forgot to mention:
>
> Raising the threshold at which people start paying tax to more
> than ?9,000, leaving millions of working people over ?200
> better off.
>
> A new 7% rate of stamp duty would be charged on properties
> worth more than ?2m - and anyone trying to buy a ?2m home
> through a company would face a punitive 15% stamp duty rate.
>
> Withdrawing Child benefit when someone in a household earned
> more than ?50,000, at a rate of 1% of the benefit for every
> ?100 up until ?60,000, when it would be cut entirely.
>
> Looking at the budget to me it looks like the poor will be
> better off, the rich will be better off and those in the middle
> will bear the brunt of it, which is the way life goes.

I'm inclined to agree. The tax cut from 50% to 45% is neither here nor there as the actual amount of tax the rich pay is between 20% and 30%. I think the way to bash the rich is closing up all the shiesters' loopholes, like the cunt below who is taking the piss on us from a great height!:

[jimslip]

David, I need to coach you in the use of imagery to reinforce a point that you are trying to make. Josephf Goebbells was a master of this and I myself take pride in my choice of pictures on occasion.

Here's an example. When using a particular section of society to make a point, ALWAYS use a pic! Here would be a good pic and caption to use to accompany your "Plight of the old folk" post:

A local pensioner on hearing the Tory Budget:

[img]http://retirement-homes-bulgaria.com/wp ... lderly.jpg[/img]

and another after being told by the one above!

[img]http://topnews.in/health/files/elderly-people.jpg[/img]

Or the other hand,you can use pensioners to illustrate a point that benefits your beliefs:

Pensioners on hearing New Labour may win next election:
[img]http://4.bp.blogspot.com/-4mfYHtCgs6M/T ... +crime.jpg[/img]

And what about this to finish you post?

Bankers on hearing the news that their tax savings will destroy the lives of pensioners throughout the UK!

[img]http://foodiegang.files.wordpress.com/2 ... snite1.jpg[/img]

Hope this helps!!wink!

[David Johnson]

First Zorro's remark

"you only give a fraction of the story,"

Very true!

James' remark

"The tax cut from 50% to 45% is neither here nor there as the actual amount of tax the rich pay is between 20% and 30%."

This may be true, but the whole topic of tax avoidance is a separate, very important subject.

What I would like to point out though is the following:

1. Setting aside tax avoidance, a 5p cut in the tax rate is giving more than 300,000 people an average pay out of ?10K a year. People on a salary of a ?1 million will get a yearly handout of about ?40K. In addition those people who run businesses are seeing a huge drop in corporation tax which will kick in each year.

2. Zorro's point about the rich getting hit which is what Osborne said is not true. In comparison to the huge tax giveaway in 1. above, the number of people who buy ?2million houses is far far smaller than the 300,000 rich people getting the big handout. Roughly 100 houses a month get sold for over ?2 million, nearly all of them in London. So the overall hit is miniscule from this stamp duty increase compared to the handout.

3. In comparison, the freezing of the pensioners tax allowance for all current pensioners and the abolition of the pensioners tax allowance for all new pensioners hits over 4 million people.

4. Zorro points out the increase in the basic allowance to ?9000 or so next year. What you need to keep in mind is that the bulk of the money both raised and planned to be raised in coming years is from the welfare budget in terms of working tax credits, housing benefits etc. which many low paid workin people depend on. Currently, you can get Working Tax Credit if you work at least 16 hours per week and you?re responsible for at least one child. However, from 6 April 2012, the rules for couples with at least one child are changing. In most cases, to qualify for Working Tax Credit you must jointly be working at least 24 hours a week. So, if you both work your joint weekly hours must be at least 24 and one of you must work at least 16 hours a week. Or, if only one of you works, that person must be working at least 24 hours a week.

And if you dont adhere to the new rules? You lose all your working tax credits - thousands of pounds. Secondly, those who are below the basic allowance rate get nothing from this budget.

It is an interesting argument. The rich can only be encouraged to work more and invest by giving them a huge handout. THe less well off can only be encouraged to work more by the threat of punishment i.e. losing their working tax credits.

[David Johnson]

You appear to have aged loads in pic 1 and 2.

In return here is a pic of me.

[img]http://iwantigot.geekigirl.com/wp-conte ... ostyle.jpg[/img]

[David Johnson]

WHo ya on about? James, Zorro, me? Give us a clue

[Von Boy]

I am going to stay quiet on this one...

but I think the budget on the whole for UK PLC is not too bad....