Why are young’ish people leaving the job market?

[eggsarascal]

2 minutes ago, trigger_andy said:

Im gonna be proper raped at my current income level. 
 

In Norway the tax free allowance (for a country with a far higher cost of living) is about £5000. How on earth is it £12k+ when the average wage in the U.K. is not much more? 
 

In Norway you don’t lose your tax free allowance (nor child Benefits) regardless what you earn.

 

So if I go over £100K in the U.K. I lose 50p of my tax free allowance for every £1 I go over. With the new budget earning over £100K is pointless. I’ll cut back by £30-£60k and hardly notice a thing. 
 

I’ll do even less days a year. My goal is 70-90 now and still break the £100k 🤣

You are one of the more lucky/educated ones, on the whole people in the UK don’t earn your kind of money. I’ll do what I do, and you’ll do what you do. Are you emigrating like our kid, or are you staying like I am?

[trigger_andy]

18 minutes ago, eggsarascal said:

You are one of the more lucky/educated ones, on the whole people in the UK don’t earn your kind of money. I’ll do what I do, and you’ll do what you do. Are you emigrating like our kid, or are you staying like I am?

I’ve said I’ll just reduce my income to under £100k a year and not see a real reduction in my income.  Not when the new budget comes into effect that’s for sure. No need to emigrate until they come after the £100k then I’ll have to reconsider. 

[Johnsond]

10 hours ago, eggsarascal said:

You are one of the more lucky/educated ones, on the whole people in the UK don’t earn your kind of money. I’ll do what I do, and you’ll do what you do. Are you emigrating like our kid, or are you staying like I am?

It’s not even at the 100k plus levels that this mentality is starting to prevail. Up here in Scotland you hit the 41% bracket at just over 43k stick on 9% NI and half your wage is allocated to the fools to squander. Throw in a  few huge visuals over the past couple of years emphasising the utter incompetence of governments ie asylum seekers in hotels, furlough , lockdowns, constant net zero drivel,vaccine spending etc etc and all of a sudden you hit a point where lads ( especially self employed/freelance such as myself) are thinking “ bollocks to this” .  I know several including myself who this year hit a certain point and took a step back, probs at a cost of 15-30k ish per man to the Hmrc. The decision was taken to spend more time with families etc rather than keep working. The tax take up here has actually fallen since Sturgeon upped the 40% rate to 41% and dropped the level at which it kicks in to 43k. As Andy says it is nothing more than the politics of greed and envy at play. What we will see I think is the gradual realisation that there is a limit to how far you can squeeze those with the “ broadest shoulders”. I myself having just concluded a 4 year hugely expensive and stressful Hmrc investigation will never ever go back to the chasing 250 days a year offshore mentality and consequential  tax bills, an own goal by Hmrc of which they are scoring many that I know of first hand. 

[Johnsond]

Two million face paying 60pc income tax

APPLE.NEWS

---

Anncouncement comes as the top rate threshold is reduced

Regardless of what anyone says any system of taxation that results in 60% of a persons income beyond a certain point  being taken by the state is utterly flawed. Long term it will do nothing but reduce tax take. I listened to Hunt during his statement and did wonder about the unimaginative dull logic of his attempts at reducing inflation and this insane obsession with GDP and growth. 

[peds]

So we are all in agreement... we need to tax the rich. 

[Hillbillee]

23 hours ago, eggsarascal said:

Listening to the wireless just now, the topic is, people in their 50’s leaving work behind. I bumped into a fella I used to go to school with at the local remembrance parade on Sunday, his plan is to finish at 55 when his pension kicks in, mine also kicks in in 3 years time, and I’ll probably slowdown when it does. If we all pack in, or slowdown at 55 what will be the end result?

I am in that position. I've finished 'working for the man'. I've done 40 years in industry, paid off my mortgage and got a bit put by. I now do a bit of this n that, gardening,  hedgelaying etc for a bit of pocket money. I did try and get an 'paid' job part time, but no one wants to know and that is them paying £10 hr! So on to Eggs' question the end result will be a slowdown in the economy. Prices will (are) go up, people will tighten their belts and youngsters will hopefully be able to start earning proper wages again albeit with higher inflation the result (interest has been too low for too long). Large numbers of migrants willing to work for low wages has kept the economy artificially bouyant, which is why in my opinion the government is tolerating illegal migration. 

[Johnsond]

39 minutes ago, peds said:

So we are all in agreement... we need to tax the rich. 

🤷‍♂️

[GarethM]

You can't just say tax the rich, well Mr HMRC the new rule book just says tax the rich, anyone disagree is like asking to drown a puppy.

 

Whilst we should all pay a fair share, with those in the lofty super rich paying most.

 

It does seem like everyone glossed over the taxing large corporations and using legal but creative tax agreements to pay close to sweet fa.

 

Amazon, Microsoft, Facebook etc etc.

Did the Irish government ever cash that Facebook fine ?. 

[kevinjohnsonmbe]

17 hours ago, kevinjohnsonmbe said:

Bai Lan mate - it’s a bit of a lengthy one but all the answers you seek are herein:

 

 

The tax Ponzi scheme and the illogical determination for ever growing economies with (what passes for) success being measured in GDP - the ‘quiet quitting’ phenomenon is a slow but inexorable manifestation of the realisation that traditional capitalist economies (and the pseudo socialist pretenders that are also actually capitalist in nature) are doomed to a slow and painful death….

 

Anyway, on that cheery note, I’ll have a beer. 

Anybody watch this?  It is worth it (albeit terminally dull) in regard to the subject under discussion in this thread...

[eggsarascal]

2 hours ago, kevinjohnsonmbe said:

Anybody watch this?  It is worth it (albeit terminally dull) in regard to the subject under discussion in this thread...

I gave it a quick glance yesterday, I’ll watch it properly this afternoon.