More on Tory Tax policy

[BillyStubbsTears]

Another crackpot Far Left/KimJongUn/Venezuela-type commentator joins the debate. This time it's that renown Stalinist pamphlet The Economist, talking about Osborne's much trumpeted pension tax reform from earlier this week.

http://www.economist.com/blogs/buttonwood/2014/10/tax-policy

"The £150m spent on this tax change can only be described as a shameless handout to the wealthy at a time of austerity. The announcement came the day before the government announced a post-election freeze on benefit payments that will save £3 billion a year. It is almost as if the Conservatives are trying to live up to the way they are caricatured by the Guardian."

[Boomstick]

Can't agree more with that policy. If someone works hard all their life and saves a large chunk into a pension. Then they should be able to give it to their spouses upon death.
All they are doing is abolishing another stupid death tax.
Well done George 

Don't forget people's trust for pensions are at a low after Labours raid on them in 1997.

[RobTheRover]

What????? Its taken 17 years to reach an all-time low.

Boomstick, you are coming across as a right cock, me old son.

[BillyStubbsTears]

Boomstick

The point is, it's about PRIORITIES.

We're apparently all in it together. Yet the tax breaks have all gone to the very richest parts of society.

The reduction of the 50% tax rate on its own means that someone earning £1M per year is immediately nearly £50k per year better off.

The tax allowances announced by Cameron yesterday (even if they happened) would give someone earning £1000 per week three times the bonus that someone on average earnings of around £500 a week would get. And THEN of course, someone earning £500 a week will be worse off anyway, because Osborne announced the day before that he'll be reducing tax credits and freezing child benefit. It's estimated that someone on £500 a week with two kids will be £495 a year worse off due to the tax credits and child benefit changes. So, if you're on £500 a week, we'll give you £500 and immediately take £500 away. Whereas if you're on £1000 a week, we'll give you £1000 and also give you more because you'll now be eligible for full child benefit because you're no longer a higher rate tax payer.

And then there's the pension tax change, which will predominantly go ti the very wealthy. It's help out people who have managed to get to 75+ before dying without dipping far into their pension pot. How many ordinary pensioners are wealthy enough to be in that fortunate position?

THAT is what the Tory tax priorities are. Just like they have always been. Fool the low paid and line the pockets of the wealthy.

Grand eh?

[Boomstick]

What????? Its taken 17 years to reach an all-time low.

Boomstick, you are coming across as a right cock, me old son.

I didn't say all-time low.  Cock .

[BillyStubbsTears]

So, what are they at a low compared to?

Personally, my faith in Tory politicians has never recovered from Churchill's decision to return to the Gold Standard at the pre-War rate. They've still got some way to go to re-win my trust.

[Boomstick]

Boomstick

The point is, it's about PRIORITIES.

We're apparently all in it together. Yet the tax breaks have all gone to the very richest parts of society.

The reduction of the 50% tax rate on its own means that someone earning £1M per year is immediately nearly £50k per year better off.

The tax allowances announced by Cameron yesterday (even if they happened) would give someone earning £1000 per week three times the bonus that someone on average earnings of around £500 a week would get. And THEN of course, someone earning £500 a week will be worse off anyway, because Osborne announced the day before that he'll be reducing tax credits and freezing child benefit. It's estimated that someone on £500 a week with two kids will be £495 a year worse off due to the tax credits and child benefit changes. So, if you're on £500 a week, we'll give you £500 and immediately take £500 away. Whereas if you're on £1000 a week, we'll give you £1000 and also give you more because you'll now be eligible for full child benefit because you're no longer a higher rate tax payer.

And then there's the pension tax change, which will predominantly go ti the very wealthy. It's help out people who have managed to get to 75+ before dying without dipping far into their pension pot. How many ordinary pensioners are wealthy enough to be in that fortunate position?

THAT is what the Tory tax priorities are. Just like they have always been. Fool the low paid and line the pockets of the wealthy.

Grand eh?

What the f**k are you on about you dithering old socialist relic?

Can you please attempt to re- write your last paragraph into some semblance of coherence? so I can understand further just how full of shit you are?

[Boomstick]

So, what are they at a low compared to?

Personally, my faith in Tory politicians has never recovered from Churchill's decision to return to the Gold Standard at the pre-War rate. They've still got some way to go to re-win my trust.

Low compared to before  nu-labour came to power.
The Tories are still struggling to restore the faith in pensions, that people lost under nu-labour

[RobTheRover]

What????? Its taken 17 years to reach an all-time low.

Boomstick, you are coming across as a right cock, me old son.

I didn't say all-time low.  Cock .

Fair enough, just a general "low" then?

My pension pot is doing fantastically well, so your sweeping generalisation isn't holding much credence I'm afraid, Boomer.

[BillyStubbsTears]

That's what I like about you Boomstick. So ready to engage on the detail of any discussion. It's a pleasure crossing swords with someone who combines intellectual rigour with devastatingly subtle wit.

I apologise for two simple typos. They happen. Especially on a phone. Most people are smart enough to work out what the writer actually meant....

...Hang on! I apologise. I've just realised what your issue is.

[jucyberry]

Oh we are all in it together all right, only most of us are in the shit whilst the few are in the jam sipping cream.

[BillyStubbsTears]

So, what are they at a low compared to?

Personally, my faith in Tory politicians has never recovered from Churchill's decision to return to the Gold Standard at the pre-War rate. They've still got some way to go to re-win my trust.

Low compared to before  nu-labour came to power.
The Tories are still struggling to restore the faith in pensions, that people lost under nu-labour

Yeah. And as I say, Labour constantly have to work to restore confidence in the Treasury after the Gold Standard debacle. Shocking isn't it, what politicians have to do.

[GazLaz]

Us and them society. Surely the lower paid in society need the most financial help, having said that giving these people the opportunity, training and confidence to try and "better" themselves is just as important.