How does the new tax rate affect you?

Originally Posted by sarah

certainly looks like it. try putting 60k into the calculator

Yeah that's what I tried.

Try ?15k - 10% reduction in take home pay. If that's acurate then that's utterly utterly outrageous.

I'm anoyed about 4% cut for me, but 10% on ?15k would be absolutely crippling.

Speachless.

it's really gonna hurt!!
God knows how badly until the time comes, hopefully i'll be in full time work and earning enough to compensate for the loss, otherwise it's the streets for us.

[glade]

That site doesn't quite agree with another site i usually use... (and its usually quite accurate with what I actually get paid) so i wouldn't worry too much yet.

http://www.listentotaxman.com

Originally Posted by Flamin_Squirrel

Yeah that's what I tried.

Try ?15k - 10% reduction in take home pay. If that's acurate then that's utterly utterly outrageous.

I'm anoyed about 4% cut for me, but 10% on ?15k would be absolutely crippling.

Speachless.

Tell me about it I suppose 9% of nothing is still nothing though

Originally Posted by glade

That site doesn't quite agree with another site i usually use... (and its usually quite accurate with what I actually get paid) so i wouldn't worry too much yet.

http://www.listentotaxman.com

Different tax year

[Luckypants]

I do not get these idiots that are the opposition treasury spokespersons. I spotted the fact that low paid workers are gonna get hit by this as soon as the 'honourable gentleman' opened his mouth. Took the Tories almost two days to spot it.

I am aghast that the labour party (in name only these days) are effectively increasing tax for the low paid while in turn giving a tax cut to those on higher incomes. I will pay significantly less tax this year while someone earning half my income will pay more. This does not mean that I am not in favour of this move, just that it appears that Labour are trying to buy the votes of 'middle England'.

[Gazza77]

For once I will be better off. Sadly, that is then taken straight off me as my pension contributions are rising.

I also seem to be one of the few that has an increase year-on-year in that calculator

Originally Posted by Luckypants

This does not mean that I am not in favour of this move, just that it appears that Labour are trying to buy the votes of 'middle England'.

I don't think they are trying to buy the votes of middle England. Earning ?60k+ is certainly achievable for lots of middle class people, especially in the SE, but not until later on in their career. A tax break when you're age 55+ isn't going to mean much if you've spent 35 years being screwed.

It doesn't make any sense to me at all. Labour are making the poor, their voter base, even poorer; making sure middle class people who might vote for them poorer, so now they won't; and making the rich richer, but who'd never vote for them anyway.

[timwilky]

The problem with this, is that the policy makers forgot about the unfairness that is tax system. It is morally wrong to apply a national minimum wage and then tax people earning that minimum wage.

All taxation on the low paid stinks and should not part of a modern society.

And yes, I am better off under the new rules