Recession what recession?

[The Flash]

It's only the plebs that feel the recession.

The vast majority of us flash fuckers don't either to be honest.

Corrected :)

I'm the only Flash on here. But I don't flash cash, oh no, no siree. I'm The Flash in the real sense of the word.....

 

[OxBlue]

My gripe with the way TAX works is the relatively low cut off point before you're considered "super rich"

45% for over £150K per year and then it doesn't change if you earn, £250K, £500K, £1000K etc..

Earning over ~£70K means no tax credits or anything like that, over £100K no tax free allowance on PAYE (£4K?), so if you earn more than £150K, most of your salary is charged 40% then anything above 45%.

By the time you throw in national insurance, it would seem whatever you earn 1/2 of it is gone straight off.

 

[BlueHammer85]

I could well be photographed in those sort of photos, laughing and pouring champagne and going for meals that costs hundreds/thousands as that's part of my job - entertaining clients on the company's money.

But when i get home, i still struggle to buy Nappies etc for the little one and pay rent. So the point is, don't judge on photographs.

 

[dazdon]

I'd say £150k is pretty rich.

And I doubt people who earn just over that declare everything so they'd be earning 149k with help from a creative accountant.

 

[SWP's back]

I'd say £150k is pretty rich.

And I doubt people who earn just over that declare everything so they'd be earning 149k with help from a creative accountant.

Doesn't matter who your accountant is if you are paying income tax through PAYE.

I wouldn't say £150k is rich either, it's comfortable for sure but not rich.

 

[dazdon]

I'm glad you don't think it's rich SWP.

What's the average wage now?

 

[SWP's back]

I'm glad you don't think it's rich SWP.

What's the average wage now?

Depends where you live.

I'm not saying they are poor by any stretch, I guess it depends on your definition of rich I suppose.

 

[masterwig]

I take comfort in the fact those photographed are almost certainly bellends.

 

[didactic]

I'd say £150k is pretty rich.

And I doubt people who earn just over that declare everything so they'd be earning 149k with help from a creative accountant.

Doesn't matter who your accountant is if you are paying income tax through PAYE.

I wouldn't say £150k is rich either, it's comfortable for sure but not rich.

150k is definitely not rich. I think people are confusing well to do with rich. These kids parents are worth hundreds of millions and billions. I think I posted the receipt where one kid was getting over 100K a week from just one of his trust funds.

 

[dazdon]

I'm not saying they are poor by any stretch, I guess it depends on your definition of rich I suppose.

True that!

But I honestly would feel rich if I pulled that amount in a year.

But as you say it can depend on where you live etc.

 

[OxBlue]

I think £100-150K per year is far from rich, comfortable yes, but after stoppages around £50-75K

It's at the point where if you where to lose your job and don't get something else in a short space of time you'd lose your house, so not rich at all.

The day I earn £75K after tax with no mortgage etc.., I'll feel rich, but that will probably be just in time to put two kids through University and help them with car, car insurance and rent/leg up on property ladder.

I can honestly say about the "richest" I've ever felt was in the summer of 92 before University earning £200 per week with no or little tax and paying £35 per week for bed and board.

So why does someone at this level stray into 45% tax bracket, same as someone earning £1000K plus who has got an accountant to find loopholes (image rights etc..)

I look at the kids of these millionaires and don't get jealous, but I do think there are better things they could be spending their money on.

 

[Ronnie the Rep]

I think £100-150K per year is far from rich, comfortable yes, but after stoppages around £50-75K

It's at the point where if you where to lose your job and don't get something else in a short space of time you'd lose your house, so not rich at all.

The day I earn £75K after tax with no mortgage etc.., I'll feel rich, but that will probably be just in time to put two kids through University and help them with car, car insurance and rent/leg up on property ladder.

I can honestly say about the "richest" I've ever felt was in the summer of 92 before University earning £200 per week with no or little tax and paying £35 per week for bed and board.

So why does someone at this level stray into 45% tax bracket, same as someone earning £1000K plus who has got an accountant to find loopholes (image rights etc..)

I look at the kids of these millionaires and don't get jealous, but I do think there are better things they could be spending their money on.

In reality, £150K is no mans land. its not enough to make a difference to your life but you get the ultimate penalties from the tax system losing personal allowances etc. once you are over £250K then you are well off


incidentally, the net take home on £150K is £91K

 

[SteWadda]

I think £100-150K per year is far from rich, comfortable yes, but after stoppages around £50-75K

It's at the point where if you where to lose your job and don't get something else in a short space of time you'd lose your house, so not rich at all.

The day I earn £75K after tax with no mortgage etc.., I'll feel rich, but that will probably be just in time to put two kids through University and help them with car, car insurance and rent/leg up on property ladder.

I can honestly say about the "richest" I've ever felt was in the summer of 92 before University earning £200 per week with no or little tax and paying £35 per week for bed and board.

So why does someone at this level stray into 45% tax bracket, same as someone earning £1000K plus who has got an accountant to find loopholes (image rights etc..)

I look at the kids of these millionaires and don't get jealous, but I do think there are better things they could be spending their money on.

In reality, £150K is no mans land. its not enough to make a difference to your life but you get the ultimate penalties from the tax system losing personal allowances etc. once you are over £250K then you are well off


incidentally, the net take home on £150K is £91K

Doesn't the Prime Minster get something like £180k. Are we saying that if you get paid the same as the leader of the country you are not well off? Is this a joke?

 

[nijinsky's fetlocks]

'People Spend Their Own Money On Items Of Their Own Choosing' shocker.
I believe this involves those two fairly well established concepts of freedom and capitalism.
Keep moving folks - nothing to see here...

 

[SWP's back]

I think £100-150K per year is far from rich, comfortable yes, but after stoppages around £50-75K

It's at the point where if you where to lose your job and don't get something else in a short space of time you'd lose your house, so not rich at all.

The day I earn £75K after tax with no mortgage etc.., I'll feel rich, but that will probably be just in time to put two kids through University and help them with car, car insurance and rent/leg up on property ladder.

I can honestly say about the "richest" I've ever felt was in the summer of 92 before University earning £200 per week with no or little tax and paying £35 per week for bed and board.

So why does someone at this level stray into 45% tax bracket, same as someone earning £1000K plus who has got an accountant to find loopholes (image rights etc..)

I look at the kids of these millionaires and don't get jealous, but I do think there are better things they could be spending their money on.

In reality, £150K is no mans land. its not enough to make a difference to your life but you get the ultimate penalties from the tax system losing personal allowances etc. once you are over £250K then you are well off


incidentally, the net take home on £150K is £91K

Doesn't the Prime Minster get something like £180k. Are we saying that if you get paid the same as the leader of the country you are not well off? Is this a joke?

We are saying 150k is not rich.

It's well off though and FYI the PM earns £142,500

 

[SteWadda]

In reality, £150K is no mans land. its not enough to make a difference to your life but you get the ultimate penalties from the tax system losing personal allowances etc. once you are over £250K then you are well off


incidentally, the net take home on £150K is £91K

Doesn't the Prime Minster get something like £180k. Are we saying that if you get paid the same as the leader of the country you are not well off? Is this a joke?

We are saying 150k is not rich.

It's well off though and FYI the PM earns £142,500

Must have been a joke then the post I replied to says "once you are over £250K then you are well off".

I was just guessing at the PM salary, thought I remembered something about Brown getting bumped up to £180K when he went from chancellor to PM

 

[Ronnie the Rep]

Doesn't the Prime Minster get something like £180k. Are we saying that if you get paid the same as the leader of the country you are not well off? Is this a joke?

We are saying 150k is not rich.

It's well off though and FYI the PM earns £142,500

Must have been a joke then the post I replied to says "once you are over £250K then you are well off".

I was just guessing at the PM salary, thought I remembered something about Brown getting bumped up to £180K when he went from chancellor to PM

its just a matter of words. what I meant to say was that £150K isnt enough money to be lifechanging in other words you couldn't save enough to retire early etc (especially with living costs in the south) but that £250K and above it is lifechanging

 

[SteWadda]

We are saying 150k is not rich.

It's well off though and FYI the PM earns £142,500

Must have been a joke then the post I replied to says "once you are over £250K then you are well off".

I was just guessing at the PM salary, thought I remembered something about Brown getting bumped up to £180K when he went from chancellor to PM

its just a matter of words. what I meant to say was that £150K isnt enough money to be lifechanging in other words you couldn't save enough to retire early etc (especially with living costs in the south) but that £250K and above it is lifechanging

But you are still well off compared to the majority of the country. I'm on no where near that sort of money and consider myself to be quite well off.

 

[Ronnie the Rep]

Must have been a joke then the post I replied to says "once you are over £250K then you are well off".

I was just guessing at the PM salary, thought I remembered something about Brown getting bumped up to £180K when he went from chancellor to PM

its just a matter of words. what I meant to say was that £150K isnt enough money to be lifechanging in other words you couldn't save enough to retire early etc (especially with living costs in the south) but that £250K and above it is lifechanging

But you are still well off compared to the majority of the country. I'm on no where near that sort of money and consider myself to be quite well off.

Sure, well off but not rich.

 

[SWP's back]

Must have been a joke then the post I replied to says "once you are over £250K then you are well off".

I was just guessing at the PM salary, thought I remembered something about Brown getting bumped up to £180K when he went from chancellor to PM

its just a matter of words. what I meant to say was that £150K isnt enough money to be lifechanging in other words you couldn't save enough to retire early etc (especially with living costs in the south) but that £250K and above it is lifechanging

But you are still well off compared to the majority of the country. I'm on no where near that sort of money and consider myself to be quite well off.

But not rich