NI rate rise for 25 million brits planned.

[normal rules]

the government are looking at hiking National Insurance social security contribution rates by between 1 and 2 percentage points in return for capping the amount an individual would have to spend on social care costs in their lifetime.

The move would break a 2019 election promise not to raise the rate of income tax, the VAT sales tax or National Insurance.

Let the Tory party bashing commence. (Again)

[big fat yorkshire pudding]

Point 1 this impacts the less well off more than an income tax rise would.

Point 2, I'm not sure many people can stomach further taxes. There has to be better options.

[BillyStubbsTears]

BFYP.
Point 2 encapsulates the schizophrenic issue at the heart of the UK socioeconomic thinking throughout my life.

We want Scandinavian quality services.
We want American tax levels.

At some point you have to decide which is the better form of society, and move that way with ALL it implies.

Me, I'm not going to criticise tax rises to pay for a social care system that has been gutted. But as you say, putting this on NI is designed to protect the very rich and those who take income without working. That is copperplate Tory policy.

And consider what the outcry would have been if Corbyn had come to power promising no tax rises - then raised tax.

[big fat yorkshire pudding]

Easy for you to say.  It's the young that get fleeced.  A graduate for example is massively more stung already and this is just yet another addition to that, not to mention house prices.

Of course things need to be paid for but they choose a tax that impacts the well off and elderly less proportionately (or not at all if a retiree).

[Metalmicky]

I applaud it and wouldn't object to an incremental tax increase either.

[selby]

  A fairer tax would be to legalise the drug industry and tax that, it would make the people rich and poor who will be the biggest number of people in the future to suffer from bad health pay for the pleasure.

[Axholme Lion]

They should up the rate for all the people who have been sat at home for a year on furlough while the rest of us have been going to work.

[Metalmicky]

I think all economic plans were scrapped when we shelled out billions on Covid.... The country won't be pressing the re-set button anytime soon.

[normal rules]

Perhaps it might help the shortfall in the money needed to house the Afghans that have been brought here. The treasury estimates the cost of helping those coming to the UK over the next 10 years could be more than £2.5bn.

[Metalmicky]

Perhaps it might help the shortfall in the money needed to house the Afghans that have been brought here. The treasury estimates the cost of helping those coming to the UK over the next 10 years could be more than £2.5bn.

But let's not forget that when they take up employment many of those will be contributing to the UK through taxes... just like the Europeans who entered pre-covid.

[normal rules]

It wasn’t a criticism of them. Just an observation of the cost.

[BillyStubbsTears]

Easy for you to say.  It's the young that get fleeced.  A graduate for example is massively more stung already and this is just yet another addition to that, not to mention house prices.

Of course things need to be paid for but they choose a tax that impacts the well off and elderly less proportionately (or not at all if a retiree).

BFYP
I've been calling for more support for younger people and more taxation on very comfortable, well off older people (of which I'm now one) since before your balls dropped.

[Ldr]

I would support the measure, if we want services we need to pay for them

[big fat yorkshire pudding]

Easy for you to say.  It's the young that get fleeced.  A graduate for example is massively more stung already and this is just yet another addition to that, not to mention house prices.

Of course things need to be paid for but they choose a tax that impacts the well off and elderly less proportionately (or not at all if a retiree).

BFYP
I've been calling for more support for younger people and more taxation on very comfortable, well off older people (of which I'm now one) since before your balls dropped.

And consecutive governments from both main parties didn't give a shit.

[BillyStubbsTears]

I disagree on the really big strategic decisions. I was warning you back in 2010 when you were fiercely supporting Austerity that the cost of that stupid, stupid policy was going to be borne by your generation and that the better off older people would be protected. That's precisely what has come to pass.

[normal rules]

Easy for you to say.  It's the young that get fleeced.  A graduate for example is massively more stung already and this is just yet another addition to that, not to mention house prices.

Of course things need to be paid for but they choose a tax that impacts the well off and elderly less proportionately (or not at all if a retiree).

BFYP
I've been calling for more support for younger people and more taxation on very comfortable, well off older people (of which I'm now one) since before your balls dropped.

Define “well off” please. Genuine question.

[BillyStubbsTears]

Easy for you to say.  It's the young that get fleeced.  A graduate for example is massively more stung already and this is just yet another addition to that, not to mention house prices.

Of course things need to be paid for but they choose a tax that impacts the well off and elderly less proportionately (or not at all if a retiree).

BFYP
I've been calling for more support for younger people and more taxation on very comfortable, well off older people (of which I'm now one) since before your balls dropped.

Define “well off” please. Genuine question.

It's a moveable feast. How long is a piece of string? Anyone who doesn't have to worry about surviving to the next pay day is to some extent "comfortable" and has the potential to pay for better services. But what I'm really thinking about is the small proportion of the population that owns disproportionately large amounts of our wealth.

[normal rules]

I don’t have to worry about surviving to the next pay day thankfully. I must be “well off”.
There was a time though when I was younger with young kids, I’d left the forces and moved jobs, for a huge pay cut, and struggled. So much so Im ashamed to say I sold my campaign medals to make ends meet. God I regret that now, as I have tried desperately to get them back, but alas, some collector has them in a drawer somewhere. One of them is quite rare too.
So I know what not being well of is. Times were hard for a good few years. I was on first name terms with my bank manager!

[Hounslowrover]

I, too, am well off, now retired and a headteacher's pension , receiving inheritance from my and wife's family wills ( my wife's family lived in Sussex, mine in Thorne, so a massive difference), as a triple lock pensioner I am happy to pay lots more in income tax, most of my wealth is due to unearned income on property. Years ago  when teaching the bank called us in about our overdraft and suggested selling our house, a real low point.

[big fat yorkshire pudding]

I disagree on the really big strategic decisions. I was warning you back in 2010 when you were fiercely supporting Austerity that the cost of that stupid, stupid policy was going to be borne by your generation and that the better off older people would be protected. That's precisely what has come to pass.

I'm not sure that's the issue though. It wasn't the Tory government that created initially large student debt or fuelled a boom in the housing market.  Indeed I graduated the week David Cameron won the election.

It's not about me though I'm more than comfortable moreso than most people my age particularly in this area.  It's about those who are not in my position in more expensive parts of the country.  Frankly  there's far better methods than a tax to impact the under 65s and lower paid.

[Hounslowrover]

BFYP, I  am protected as an older person,  I don't need the protection now

[selby]

  Instead of individuals taxing companies like Amazon and the like correctly on the profits
they make on sales in this country would be a better idea.

[Hounslowrover]

Agree with that Selby, but I am still prepared to pay more in tax for NHS etc as I may need it, see it as an insurance policy.

[drfchound]

To be honest, I feel sure that tax hikes are inevitable.
Covid has to be paid for and the increase in world refugees, like the Afghans for example, all has to be covered somehow.

[wilts rover]

Number of billionaires in UK increased by 25% during covid - with a collective wealth of £597 billion

https://www.standard.co.uk/news/uk/uk-rich-list-sunday-times-billionaires-wealth-rise-pandemic-b936423.html

and you support raising income tax/NI for people on minimum wage!

(I also agree with Selby but it needs to go further and look at companies in tax havens - which is why these new tax dodging Freeports are a bad idea)

[drfchound]

Number of billionaires in UK increased by 25% during covid - with a collective wealth of £597 billion

https://www.standard.co.uk/news/uk/uk-rich-list-sunday-times-billionaires-wealth-rise-pandemic-b936423.html

and you support raising income tax/NI for people on minimum wage!

(I also agree with Selby but it needs to go further and look at companies in tax havens - which is why these new tax dodging Freeports are a bad idea)

Wilts, if you are saying that I support raising taxes on people on minimum wage I have to ask you why you are saying that.
All I said is that taxes have to rise.
No specifics from me but inevitably somewhere this or the next government or the one after that, have to raise taxes somewhere.

[SydneyRover]

somewhere over the rainbow .........................

[drfchound]

 

[idler]

I would happily pay more tax to create a better world for others but find it annoying and demoralising when we see how much money is wasted by successive governments. It seems at times that it is just expected and accepted by those in power.o

[selby]

  I would increase air passenger duty, and for long haul flights and first class massively, and introduce a similar tax on cruises.