Jeremy Corbyn's time is up

[mikey mikey]

nope.

Well your grammar is left wanting. See Pickman after school.

 

[Pickman's model]

Well your grammar is left wanting. See Pickman after school.

His grammar superb in comparison to your pisspoor politics

 

[Pickman's model]

Don't be wet. Like or not MM's posts he recieves plenty of insults and without question there is ganging up.

If you are happy with it and think he deserves it for his politics, fine, but don't start talking about reporting posts or you or whoever wishes to has got a hard day's work ahead catching up.

FYI a gang is a number of people working in concert. Nothing like that happening.

 

[Pickman's model]

I think it's quite sweet that you only post stuff you think will interest Pickmans.

He doesn't and it doesn't

 

[Wilf]

Well this fine person spelt it out for you.

Regardless of the beeb getting their sums wrong, when compared against current tax rates, Labour's planned increases are quite modest, timid even:

Band Taxable income Tax rate
Personal Allowance Up to £11,500 0%
Basic rate £11,501 to £45,000 20%
Higher rate £45,001 to £150,000 40%
Additional rate over £150,000 45%

 

[stuff_it]

FYI a gang is a number of people working in concert. Nothing like that happening.

Certainly not inside the Labour Party

 

[mikey mikey]

 

[kebabking]

Regardless of the beeb getting their sums wrong, when compared against current tax rates, Labour's planned increases are quite modest, timid even:

Band Taxable income Tax rate
Personal Allowance Up to £11,500 0%
Basic rate £11,501 to £45,000 20%
Higher rate £45,001 to £150,000 40%
Additional rate over £150,000 45%

i don't think thats the figures - its no change between nil and £80k, then it goes from current 40% to 45%, and then at the £150K point it goes to 50%.

if the only change is to come at £150k, why have they been talking about 'earners over £80K'?

 

[Ranbay]

Anyone putting money on JC?

I stuck £20 on the other week at 20/1 he's now 8/1

so there.

 

[Raheem]

i don't think thats the figures - its no change between nil and £80k, then it goes from current 40% to 45%, and then at the £150K point it goes to 50%.

if the only change is to come at £150k, why have they been talking about 'earners over £80K'?

The 45% rate is proposed to start at 80k and they will also bring in a 50% rate starting at 123K. I thinks Wilf's figures are for the bands as they are now.

 

[Cid]

From 'funding Britain's future' (the costing bit supplementary to the manifesto):

25 Lowering the threshold for the 45p additional rate to £80k (Top 5%) and reintroducing the 50p rate on earnings above £123k.

Check your checking mikey mikey

e2a: the second thing you posted is right though.

 

[kebabking]

Anyone putting money on JC?

I stuck £20 on the other week at 20/1 he's now 8/1

so there.

I put £10 on about 3 months ago - can't remember what odds they were offering, but I think it was about the same as me sleeping with Jennifer Lopez.

 

[Pickman's model]

You've cocked up the image

 

[Pickman's model]

I put £10 on about 3 months ago - can't remember what odds they were offering, but I think it was about the same as me sleeping with Jennifer Lopez.

Evens then

 

[mikey mikey]

You've cocked up the image

meh

 

[Cid]

Loss of £2150 at £123k... Lost of 10% from there to £150k... £2,200. Then it's a loss of 5% (on the additional rate currently 45% £150k+). Our £150k/an exec has lost 4350k, so another 18650 left to get to £23k. 18650x20 is 373000. Plus the 150k of course.

So to lose £23k you'd need to be on £523,000/year. Feeling the pinch.

 

[mikey mikey]

This lad has form.

After the BBC's economics editor Stephanie Flanders left for a £400,000-a-year job at that notorious leftwing hotbed, JP Morgan, she was replaced by its business editor Robert Peston. His position was taken by Kamal Ahmed from the rightwing Sunday Telegraph, a journalist damned by the Guardian's Nick Davies for spinning government propaganda in the run-up to the Iraq war.

It's the BBC's rightwing bias that is the threat to democracy and journalism | Owen Jones

 

[kebabking]

...So to lose £23k you'd need to be on £523,000/year. Feeling the pinch.

#prayfor£523k

 

[kebabking]

Evens then

No, she had to be alive at the time for them to pay out..

 

[kabbes]

Regardless of the beeb getting their sums wrong, when compared against current tax rates, Labour's planned increases are quite modest, timid even:

Band Taxable income Tax rate
Personal Allowance Up to £11,500 0%
Basic rate £11,501 to £45,000 20%
Higher rate £45,001 to £150,000 40%
Additional rate over £150,000 45%

This ignores the fact that there is a loss of the personal allowance between £100k and £123k, meaning that the effective tax rate between those figures is 60%.

(There is also a loss of £30k of the pension allowance between £150k and £180k, if memory serves, which is not easy to translate into tax rate equivalence because it depends what the individual is receiving as pension contributions, but potentially adds up to 45% of £30k to the tax charge).

 

[Raheem]

This ignores the fact that there is a loss of the personal allowance between £100k and £123k, meaning that the effective tax rate between those figures is 60%.

it's actually just over 54%, but the personal allowance loss is graduated so someone only pays that when they hit 123k, after which the effective rate starts falling again because there is no more personal allowance to lose. Which, presumably, is why Labour have picked that as a new threshold.

 

[chilango]

Get the top rate of income tax back into the 90s%.

 

[kabbes]

it's actually just over 54%, but the personal allowance loss is graduated so someone only pays that when they hit 123k, after which the effective rate starts falling again because there is no more personal allowance to lose. Which, presumably, is why Labour have picked that as a new threshold.

How do you calculate 54%? It's definitely 60%.

You lose £1 in personal allowance for every £2 increase in salary. So by gaining £2, you pay 40% in normal tax plus an extra 40% of 50% of the £2 due to loss of personal allowance. The total is 40% + 0.5 x 40% = 60%.

 

[Raheem]

How do you calculate 54%? It's definitely 60%.

You lose £1 in personal allowance for every £2 increase in salary. So by gaining £2, you pay 40% in normal tax plus an extra 40% of 50% of the £2 due to loss of personal allowance. The total is 40% + 0.5 x 40% = 60%.

Yeah, OK, I sat down and worked it out and you're right. The thing about it going down again at 123k is still right, though.

 

[kabbes]

Yeah, OK, I sat down and worked it out and you're right. The thing about it going down again at 123k is still right, though.

Yes, it will effectively become:

Band Taxable income Tax rate
Personal Allowance Up to £11,500 0%
Basic rate £11,501 to £45,000 20%
Higher rate £45,001 to £83,000 40%
Higherer rate £83,001 to £100,000 45%
Effective rate £100,001 to £123,000 67.5% (note effective 7.5% increase in this band)
Additional rate over £123,000 50%

Plus the pension thingy.

 

[Pickman's model]

Get the top rate of income tax back into the 90s%.

Squeeze them till the pips squeak

 

[Pickman's model]

No, she had to be alive at the time for them to pay out..

Ah. Got good odds on you shagging the corpse of j-lo tho

 

[kebabking]

Ah. Got good odds on you slagging the corpse of j-lo tho

It's not intention or ability that forced the odds up, it was opportunity.

 

[Pickman's model]

It's not intention or ability that forced the odds up, it was opportunity.

Slagging should be shagging of course

 

[redsquirrel]

Get the top rate of income tax back into the 90s%.

99%, as during the war