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Are we headed for an income tax hike shock?

techguy
Grafter
Posts: 2,540
Registered: 12-09-2008

Are we headed for an income tax hike shock?

With HM Government throwing money at banks, the Olympics (which should be dropped in light of the state we're in) and goodness knows what else that we aren't told about, aren't we headed for a radical hike in the rate of income tax irrespective of whichever party wins the next election?
Surely some of this money should be recovered from the bankers that caused this mess.
If so, what can we do to make our displeasure felt as the government don't seem to listen.
25 REPLIES
Community Veteran
Posts: 18,551
Thanks: 195
Registered: 12-08-2007

Re: Are we headed for an income tax hike shock?

A general Election is the only way but can you see Brown allowing us a vote  - he'd be too afraid of losing. 
techguy
Grafter
Posts: 2,540
Registered: 12-09-2008

Re: Are we headed for an income tax hike shock?

He'll have no choice in 18 months but even if Cameron or even by a long shot, Clegg got in they would have one helluva mess to sort out and their only source of finding is us of course.
Community Veteran
Posts: 18,551
Thanks: 195
Registered: 12-08-2007

Re: Are we headed for an income tax hike shock?

I think Cameron and Co would have a more positive attitude to the problem and certainly would cut back on some of the stupid, reckless spending  which Brown seems intent on pursuing.
As for Clegg, please don't make me laugh Wink
Denzil
Grafter
Posts: 1,733
Registered: 31-07-2007

Re: Are we headed for an income tax hike shock?

Clegg's ideas seem to be eminently sensible to me, and I have seen comments from economists who agree. The problem is the media don't cover them much.
StickyMick
Grafter
Posts: 325
Registered: 29-11-2008

Re: Are we headed for an income tax hike shock?

Well, given that the Tories turned British Industry into the cash cow that it now is, unless we suddenly see a big renationalsation program, I don't think anyone will be able to stop the big earners snowball that's currently thundering down the hill.
Who NEEDS £100,000 a year to live off.
We have a council leader who's raking in £200,000+ per year. I say slap her with a more modest £40,000 and then we'll have £160,000+ left to improve services and employ at least an extra 5-6 people to ensure those services are kept up to scratch.
techguy
Grafter
Posts: 2,540
Registered: 12-09-2008

Re: Are we headed for an income tax hike shock?

I'm of the opinion the ones more worthy a high salary are the ones that put their lives on the line, soldiers, firefighters, ambulace crews and front line police who have to put with being attacked by the scum in the UK while trying to go about their jobs.
They deserve it because so that they give their families financial security so in the event they are killed or severly injured in the line of duty, they can keep the 'wolves from the door' so to speak.
StickyMick
Grafter
Posts: 325
Registered: 29-11-2008

Re: Are we headed for an income tax hike shock?

^ Ditto
Moderator
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Registered: 11-01-2008

Re: Are we headed for an income tax hike shock?

Quote from: StickyMick
Well, given that the Tories turned British Industry into the cash cow that it now is, unless we suddenly see a big renationalsation program, I don't think anyone will be able to stop the big earners snowball that's currently thundering down the hill.
Who NEEDS £100,000 a year to live off.
We have a council leader who's raking in £200,000+ per year. I say slap her with a more modest £40,000 and then we'll have £160,000+ left to improve services and employ at least an extra 5-6 people to ensure those services are kept up to scratch.

Actually you'd only have about an extra 77k as the council leader will already hand 41% back in tax..
Also where do you stop with your 'needs'? Shall we become a communist state who can then dictate our 'needs'? 
Will Moderate For Thanks
techguy
Grafter
Posts: 2,540
Registered: 12-09-2008

Re: Are we headed for an income tax hike shock?

Fair point but the professions I have mentioned are much more worthy of this kind of salary than some pen pushing bod who works 9-4 with the odd dinner with a business owner or chamber of commerce.
James
Grafter
Posts: 21,036
Registered: 04-04-2007

Re: Are we headed for an income tax hike shock?

Just going back to your point about the Olympics.
I think I read that they were going to generate 43,000 jobs, which even after the Olympics had ended would result in more skilled workers.  Surely be increasing employment levels, more people will be inclined to spend, thus generating an upturn in the economy?
I personally don't think the Olympics are a bad thing at all, whilst also generating a distinct sense of national pride.
Community Veteran
Posts: 18,551
Thanks: 195
Registered: 12-08-2007

Re: Are we headed for an income tax hike shock?

I'm told by someone who lives near the site in Stratford that a lot of the jobs are foreign labour.  I wonder how many UK people are employed there.
techguy
Grafter
Posts: 2,540
Registered: 12-09-2008

Re: Are we headed for an income tax hike shock?

Most of these jobs will no doubt be centred around London so the impact will be somewhat limited.
As for commerce, again it will be centred around London so while there is a chance it will boost tourism slightly I don't view it as 'the shot in the arm' for the ailing economy.
The othert reason I'm somewhat anti-olympics is that we are refusing live saving/extending drugs to cancer patients which are maybe 20k per year on the basis that they are not cost effective.
Surely a human life is worth more than a sporting event, particularly in the case where it would leave a child without their Mother or Father?
In fact, I;d go so far as to say I personally would be willing to pay a little more tax or NI to help fund such things.
pierre_pierre
Grafter
Posts: 19,757
Registered: 30-07-2007

Re: Are we headed for an income tax hike shock?

Quote
Also where do you stop with your 'needs'? Shall we become a communist state who can then dictate our 'needs'? 

and who are the worlds richest men?
StickyMick
Grafter
Posts: 325
Registered: 29-11-2008

Re: Are we headed for an income tax hike shock?

Quote from: adiewoo
Also where do you stop with your 'needs'? Shall we become a communist state who can then dictate our 'needs'? 

You'll be surprised how close we already are to that scenario.
Anyone who loses their job in this current climate and claims unemployment benefit are sent a letter telling them the law states that £60 per week is enough to provide for their basic needs.