The Labour Government

[inbetween]

I don't know where this idea comes from that pensioners are being "taxed again" because they have to pay income tax on their private pensions. You get tax relief on your pension when you put the money in, and then pay that tax back when you claim the pension (in most cases, at a lower rate than they would have paid when working). It's basically a way of deferring your tax until later.

I'm not putting more into my pension now just to give it to some prat government who decides to move the goalposts in 30 years time. Patching up years of government overspending shouldn't be our problem. If they need to find £20bn then all they have to do is cancel projects like HS2, nobody wants it so it's very easy.

A pension is a horrendous investment vehicle if it's subjected to further taxation because it means less gains and lost retirement sums so people will therefore just put less into it.

It's like changing the rules to make ISAs subject to tax, what would be the point in an ISA then? You'd do better just sticking your money in the bank getting 0.5%.

 

[BrianW]

I'm not pleased about losing my winter fuel payment but this is what happens when politicians are manipulated into making unrealistic pledges not to touch the main taxes. You can expect more of the same, instead of basic tax going up to (say) 22p.

Income tax is the fairest tax, although it would be a lot fairer if fewer cunts dodged paying it.

The other thing is, there should be more focus on taxing assets. I have argued before for Land Value Tax, but the problem is the Norman families would kick up a fuss, and the Daily Mail would tell us every pensioner would be taxed on their garden. So it's hard to do politically.

As for Bamford, if he really does owe £500,000,000 in tax, it's a fucking scandal and he should have all his assets sequestrated. But the other scandal is why was it allowed in the first place. HMRC would be on to me like a ton of bricks if I owed £100. I know that from experience.

 

[manclad]

Then they will not save unless they are very wealthy and take welfare instead.

Or go back to pre - state pension days (before 1909) and go into the workhouse !!!

 

[PPT]

I don't know where this idea comes from that pensioners are being "taxed again" because they have to pay income tax on their private pensions. You get tax relief on your pension when you put the money in, and then pay that tax back when you claim the pension (in most cases, at a lower rate than they would have paid when working). It's basically a way of deferring your tax until later.

I'm not putting more into my pension now just to give it to some prat government who decides to move the goalposts in 30 years time. Patching up years of government overspending shouldn't be our problem. If they need to find £20bn then all they have to do is cancel projects like HS2, nobody wants it so it's very easy.

A pension is a horrendous investment vehicle if it's subjected to further taxation because it means less gains and lost retirement sums so people will therefore just put less into it.

It's like changing the rules to make ISAs subject to tax, what would be the point in an ISA then? You'd do better just sticking your money in the bank getting 0.5%.

Exactly. A pension is a lifetime financial commitment. And both parties come along every five years or so and move the goalposts in an effort to screw more money out of people who are working hard and doing their best to make the best of things they can. It’s immoral. Might as just as well piss it up the wall and then sit back and collect the state handouts and benefits.

 

[hilts]

Or go back to pre - state pension days (before 1909) and go into the workhouse !!!

It does appear we are going backwards step by step.

 

[bluethrunthru]

Income tax is the fairest tax, although it would be a lot fairer if fewer cunts dodged paying it.

I have always thought rather than giving individuals with "complex tax issues" breaks its should be simply - right you earned £2m last year give us 40% then employ and accountant to explain what you think we need to give you back. Would make people think.

 

[manclad]

It does appear we are going backwards step by step.

Which was the point of my initial post. They are possibly going to chip away at the state pension bit by bit over the lifetime of this parliament and maybe the next one as well.

 

[Churchlawtonblue]

I don't know where this idea comes from that pensioners are being "taxed again" because they have to pay income tax on their private pensions. You get tax relief on your pension when you put the money in, and then pay that tax back when you claim the pension (in most cases, at a lower rate than they would have paid when working). It's basically a way of deferring your tax until later.

I don't know where this idea is that I was talking about pensioners?

 

[Churchlawtonblue]

What are you on about. Removal of the winter fuel payment from those that don’t need it is hardly a tax hike. It’s a benefit cut that Tories should be delighted about.

I wasn't talking about the winter fuel payment?, where did I mention that?

 

[hilts]

Which was the point of my initial post. They are possibly going to chip away at the state pension bit by bit over the lifetime of this parliament and maybe the next one as well.

I'm gonna guy fawkes the mother fuckers if they do, only successfully.