Not everyone earning high wages are hard workers, let me tell you that. So many are so incompetent. To say if you’re on over 100k you’re a hard workers is just a complete lie.
@@chiragshetty4608 you must either be one of the incompetent people or extremely stupid if you think everyone in those positions is completely competent at their jobs and got there through hard work alone.
As the tax-free personal allowance starts to disappear at £100,000 and goes down to zero at £125,140, they already pay up to 60% income tax on that £25,140 bit of their salary anyway. Maybe a further higher rate of 60% over £200,000 per year would be fairer.
In my job I’ve seen people earn a quarterly dividend of £250,000. £1million a year in dividends. Add on the millions worth of stock they own. They’re the people you need to tax through a good wealth tax. The dividend tax rate is lower than income tax (only 8.75% basic rate) and if their stocks are owned in an isa then they’re free from capital gains tax. The tax rate of the super rich is so much lower than those earning £100k paye.
Dividends are paid from retained earnings meaning corporation tax has already been paid on it. Add on the corporation tax on top of the dividend tax rate and that's what they really pay...probably works out virtually the same as if you were taxed via PAYE. I definitely won't be wanting to take the risks of running a business if the profits I take out are taxed at the same rate as PAYE people - not worth all the hassle
People earning more then 100k is paying 60% tax not 40%. As every 2 pound you earn 1 pound of tax free allowance which make it's 50% tax plus 40% which kind of comes to 60%.
@@chiragshetty4608 some are more qualified for the expensive salary, I wouldn't like to say all of them are. They are also in a fortunate situation in which paying more tax won't break them whilst others are barely surviving. However only 4% of people earn over 100k in the UK so I doubt taxing them more will raise much money. They would be better putting that energy into tax dodging corporations.
@@pugwash84 this government is going the economy. They already caused a lot of millionaires leave the UK. Investment in uk is going to next to nothing. Even people living in UK don't want to invest in UK whatever they earn they are investing outside UK. This is utter nonsense of taxing more for 100k is going to target the financial in London. It already suffering from brexit. Once the whole financial sector is destroyed only then labour will take rest.
I’m the son of a bus driver. I make over a 100k a year. Took uni debt, and about 20 years. Roughly 16 of which I did an average of 70 hours a week. Sometimes over 90 hours a week. If I could go back in time I’d probably slap myself for ever wanting money but back then I was just sick of being broke and worried about my family. Taxing people more at 100k isn’t taxing the rich, it’s taxing the hard workers. The politicians use voters envy to justify it because they know if they can get away with it. But if you have any ambition for your own kids just know you’re screwing them in the future. They screw the people who work hard because they can’t screw the billionaires who have the ability to just leave.
Those that earn so much are overpaid ..just because the boss of lets say Amazon earns 1000 times more than an employee on the factory floor ....yes he has worked hard HOWEVER LUCK plays a huge factor and simply put the boss does not work 1000 times harder than one of his employees
@@chiragshetty4608 like a man whos dad just happens to be a boss of his own company passes it down to his son ..or a man who wins a lot of cash able to be a boss of his own company ..or be good friends with a boss OFF COURSE LUCK CAN come into it ..the AMAZON man had luck to be in the right place at the right time ..LUCK is a fact of Life
…and then they’ll wonder why people start to work less hours or cut down to working 4 days a week when they reach 100k. Up the tax take and you simply reduce the incentive to earn north of 100k
Over £100k you start to lose the tax free element. By £125k it’s all gone. The rate of tax is not 40% it more like 60% between £100-£125k. Plus you have lost child benefit. Then at £150k it goes up to 45%. The system needs an overhaul to stop these massive cliff edges which will put people off working harder and going for promotions. We have possible changes to pensions coming which might mean people retiring early to avoid new taxes. These people are very likely to include doctors that we need.
Exactly when you include childcare benefits you lose it's more like a tax of 50% of total income.... As you lose out on like £15k... Better of earning £99,999 and then meet working class definition according to labour
The rich need to pay their fare share ! Currently they pay proportionately less tax. £100 000 per year plus is rich. And we should move from taxing work to taxing wealth.
@@marymochrie3471 That is just not true, not of direct taxes anyway. The top 1% of tax payers pay ~29% of all income tax, the top 5% pay nearly 50%. You’ve got millions of people paying practically no tax at all, and beneficiaries from the tax system, with a very small percentage funding the bulk of all tax. Someone earning 100k will pay around 5.7 times more in tax and NI than a person earning 33k, yet their income is only 3x.
Why punish the extremely wealthy? Why punish the extremely poor? Why punish those that have made their money? Why punish those who will never be able to due to medical needs and complications
You measure success with money? A social worker, nurse, teacher etc are not successful? It’s about who can afford to contribute more. Is it ok to languish people in poverty? Can’t eat healthy, suffers bad health, mental health issues, living in slums etc?
I think Nina has lost her way on this. Dont punish success. I invested my time and money in my own development. I earn over 100k because i made it happen through hard work. Why should I now be a targeted? If tax goes up I am going to take early retirement and I will pay very little into the system. Earning 100k means I spend money on stuff and this is how the uk keeps moving forward.
Higher earners already pay too much tax. Someone on average earnings of ~33k per year pays around 5.7k in tax and NI which is around 17%. Someone earning double that, 66k will pay ~17.1k in tax and NI, (~26%) which is 3x the tax of the person on 33k for only double the pay. Someone earning 99k would pay ~31k in tax and NI which is 5.4 times the lower earner and 31% of earnings. Myskow is an uninformed idiot. (Figures are approx without pension deductions)
@@Richard-fm1cx I do not earn that much. I just believe those who do well in society should GLADLY put a bit more in. Probably not forever but just for as long as is required for the country to get back on it's feet.
@@danpepper2525 that is forever though! There is so much waste in government we need to start there. Governments are such poor allocators of capital they should be given as little as possible to provide essential services. Someone earning 150k pays around £60k in tax and NI already, about 40% of their earnings. That is over 10 times the tax and NI that someone on 33k pays, yet only 4.5 times the income. As someone who does pay this I think it is more than enough.
@@Richard-fm1cx that's not really true. The tax system is progressive. Up to a certain income 20% of the income is gone and it's over 40% over the threshold.
Easy to get benefits , it took me years to get PIP even though i have been suffering with health isseus and lack of mobility for 21 years . Silly women ,yet again slating the unemployed and sick and disabled .
Higher earners means those earning millions. Poor journalism by you vile and Kay Burley. By the way Danny, everyone works and fought hard to get where they. Salary size doesn’t mean hard work. These patriots that don’t want to pay their fair share in taxes make me piss
Not everyone earning high wages are hard workers, let me tell you that. So many are so incompetent. To say if you’re on over 100k you’re a hard workers is just a complete lie.
So true. Promoted to the level of incompetence.
If they so incompetent then why don't you do it. Easy to say. Utter nonsense out of jealousy
@@chiragshetty4608 😢😢
@@chiragshetty4608 FOP
@@chiragshetty4608 you must either be one of the incompetent people or extremely stupid if you think everyone in those positions is completely competent at their jobs and got there through hard work alone.
As the tax-free personal allowance starts to disappear at £100,000 and goes down to zero at £125,140, they already pay up to 60% income tax on that £25,140 bit of their salary anyway. Maybe a further higher rate of 60% over £200,000 per year would be fairer.
In my job I’ve seen people earn a quarterly dividend of £250,000. £1million a year in dividends. Add on the millions worth of stock they own. They’re the people you need to tax through a good wealth tax. The dividend tax rate is lower than income tax (only 8.75% basic rate) and if their stocks are owned in an isa then they’re free from capital gains tax. The tax rate of the super rich is so much lower than those earning £100k paye.
Dividends are paid from retained earnings meaning corporation tax has already been paid on it. Add on the corporation tax on top of the dividend tax rate and that's what they really pay...probably works out virtually the same as if you were taxed via PAYE. I definitely won't be wanting to take the risks of running a business if the profits I take out are taxed at the same rate as PAYE people - not worth all the hassle
@@clk76 I never said they were business owners
Or get rid of council managers working from home making spreadsheets
People earning more then 100k is paying 60% tax not 40%. As every 2 pound you earn 1 pound of tax free allowance which make it's 50% tax plus 40% which kind of comes to 60%.
people earning under 100k a year are also working hard ! some are working 12 hour shifts !
But they are more qualified as person earning more 100k. People earning more then 100k are paying 60% tax with zero benefit
@@chiragshetty4608 some are more qualified for the expensive salary, I wouldn't like to say all of them are. They are also in a fortunate situation in which paying more tax won't break them whilst others are barely surviving. However only 4% of people earn over 100k in the UK so I doubt taxing them more will raise much money. They would be better putting that energy into tax dodging corporations.
@@pugwash84 this government is going the economy. They already caused a lot of millionaires leave the UK. Investment in uk is going to next to nothing. Even people living in UK don't want to invest in UK whatever they earn they are investing outside UK. This is utter nonsense of taxing more for 100k is going to target the financial in London. It already suffering from brexit. Once the whole financial sector is destroyed only then labour will take rest.
I’m the son of a bus driver. I make over a 100k a year. Took uni debt, and about 20 years. Roughly 16 of which I did an average of 70 hours a week. Sometimes over 90 hours a week. If I could go back in time I’d probably slap myself for ever wanting money but back then I was just sick of being broke and worried about my family. Taxing people more at 100k isn’t taxing the rich, it’s taxing the hard workers. The politicians use voters envy to justify it because they know if they can get away with it. But if you have any ambition for your own kids just know you’re screwing them in the future. They screw the people who work hard because they can’t screw the billionaires who have the ability to just leave.
If it’s 5% more on over £100,000 it’s not that bad.
Well said
@@jujutrini8412 above 100k you are paying 60% tax. 5 person more mean 65%. That's crazy.
@@chiragshetty4608 Where did you get that information from? Where did you get 60% from?
@@chiragshetty4608 Where did you get 60% from?
How about Labour MPs paying 100% tax on their freebies??!!
how mps not getting £3000 heating allowance like a lot oaps
Those that earn so much are overpaid ..just because the boss of lets say Amazon earns 1000 times more than an employee on the factory floor ....yes he has worked hard HOWEVER LUCK plays a huge factor and simply put the boss does not work 1000 times harder than one of his employees
Get ur luck to become a boss. You never become a boss on the basis of luck that's horseshit.
@@chiragshetty4608no it's worse than that it's based on who you know more than luck
@@chiragshetty4608 like a man whos dad just happens to be a boss of his own company passes it down to his son ..or a man who wins a lot of cash able to be a boss of his own company ..or be good friends with a boss OFF COURSE LUCK CAN come into it ..the AMAZON man had luck to be in the right place at the right time ..LUCK is a fact of Life
@@ricardosmythe2548 then you get to know them and become them what an utter nonsense.
Hang on…..why do folks earning 100k need to “pay their way”! Surely they are the least burden on the system 🤷♂️
The extract the most profits out of the system, the roads they use, the healthcare for their staff, the education provided to staff
@@higuk999 how do I use more “road” then someone on 20k? Do my school fees and private health care not free up the system?
…and then they’ll wonder why people start to work less hours or cut down to working 4 days a week when they reach 100k. Up the tax take and you simply reduce the incentive to earn north of 100k
Most hard working managers in the UK are only on 50k to 60k.
Over £100k you start to lose the tax free element. By £125k it’s all gone. The rate of tax is not 40% it more like 60% between £100-£125k. Plus you have lost child benefit. Then at £150k it goes up to 45%. The system needs an overhaul to stop these massive cliff edges which will put people off working harder and going for promotions. We have possible changes to pensions coming which might mean people retiring early to avoid new taxes. These people are very likely to include doctors that we need.
Exactly when you include childcare benefits you lose it's more like a tax of 50% of total income.... As you lose out on like £15k... Better of earning £99,999 and then meet working class definition according to labour
Surely itscommon sense the more you earn the more tax you should pay.250,000 to 600,000 are enormous sums they should pay more.
The rich need to pay their fare share ! Currently they pay proportionately less tax. £100 000 per year plus is rich. And we should move from taxing work to taxing wealth.
@@marymochrie3471 That is just not true, not of direct taxes anyway. The top 1% of tax payers pay ~29% of all income tax, the top 5% pay nearly 50%. You’ve got millions of people paying practically no tax at all, and beneficiaries from the tax system, with a very small percentage funding the bulk of all tax. Someone earning 100k will pay around 5.7 times more in tax and NI than a person earning 33k, yet their income is only 3x.
Plenty cooking the books over 100k where PAYE end up having to pick up the bill 💸
Because they have worked hard >>>????? Listen DANNY MILLS Boy are you saying FISHERMEN < OIL RIG WORKERS >>MINERS >>DONT WORK HARD FO !! suit and tie
Totally and utterly agree with Danni
Anybody who thinks it's too easy to claim benefits has never tried to claim benefits.
Why punish the extremely wealthy? Why punish the extremely poor? Why punish those that have made their money? Why punish those who will never be able to due to medical needs and complications
Pensioners paying their way by freezing this winter. The lady panellist is ridiculous
$100,000 should put you in the comfortable middle class category.
in percentage to what you earn Danny Mills PAY YOR FAIR SHARE OF TAX !!!
Thats why he is moaning .
This government hates success
Everyone should be taxed at say 30%. Thus if you earn 10k you pay £3k in tax. If you earn £100k you pay £30k (i.e. you pay more)
You measure success with money? A social worker, nurse, teacher etc are not successful? It’s about who can afford to contribute more. Is it ok to languish people in poverty? Can’t eat healthy, suffers bad health, mental health issues, living in slums etc?
I think Nina has lost her way on this. Dont punish success. I invested my time and money in my own development. I earn over 100k because i made it happen through hard work. Why should I now be a targeted? If tax goes up I am going to take early retirement and I will pay very little into the system. Earning 100k means I spend money on stuff and this is how the uk keeps moving forward.
As soon as making people who earn £100k plus, even worse the rich.....these Muppets start the "how dare you" tirade....
I think its fair. 100k is a hell of a lot a year.
I seem to remember let those with the widest shoulders carry more of the burden
Jeremy the top tax rate is 45% not 40%
That’s not including National Insurance and student loans
As others have said already, the effective tax rate between £100k and £125k is 60%! That’s way too much in my opinion
Even more when you consider you lose childcare benefits worth over £15k when you earn £100k
100K? Really? I would push that to 330K.
You may earn £100k but that does not mean you have any money left at the end often month - you just have a better lifestyle and spend accordingly.
No its £4,371.5
There needs to be more tax bands and VAT should be reduced.
Higher earners already pay too much tax. Someone on average earnings of ~33k per year pays around 5.7k in tax and NI which is around 17%. Someone earning double that, 66k will pay ~17.1k in tax and NI, (~26%) which is 3x the tax of the person on 33k for only double the pay. Someone earning 99k would pay ~31k in tax and NI which is 5.4 times the lower earner and 31% of earnings. Myskow is an uninformed idiot. (Figures are approx without pension deductions)
100k a year take home a month is 5713.42. Which comes to 68.5k a year. They already pay enough. Target the multi millionaires and billionaire's.
Everyone should pay 1876787757887% on each pound. So you end up in billions of debt each year for nothing. This is how Labour thinks 😂😂😂
So he saying people earn less 100,000 don't work hard .
I dream about getting into tje higher tax band and I've always worked hard
If you earn 100k you are already paying alot of NI and income tax it is done on a %.
Ffs anyone going to work are working people Jesus wept its not difficult Mr Kinnock.
Redistribution of wealth.
No incentive to achieve wealth under labour.
The vegetables are in charge.
Over £100k seems a bit too far. I'd be happy to see a 50/55% rate over £150k though.
@@danpepper2525 do you earn over 150k? Or is it just something you’d like to see inflicted upon others?
@@Richard-fm1cx I do not earn that much. I just believe those who do well in society should GLADLY put a bit more in. Probably not forever but just for as long as is required for the country to get back on it's feet.
@@danpepper2525 that is forever though! There is so much waste in government we need to start there. Governments are such poor allocators of capital they should be given as little as possible to provide essential services. Someone earning 150k pays around £60k in tax and NI already, about 40% of their earnings. That is over 10 times the tax and NI that someone on 33k pays, yet only 4.5 times the income. As someone who does pay this I think it is more than enough.
@@Richard-fm1cx that's not really true. The tax system is progressive. Up to a certain income 20% of the income is gone and it's over 40% over the threshold.
@@danpepper2525 what part is not true?
Just because you earn 100k , doesn’t mean you take home 100k , got to take out tax , pension , national insurance etc
Easy to get benefits , it took me years to get PIP even though i have been suffering with health isseus and lack of mobility for 21 years . Silly women ,yet again slating the unemployed and sick and disabled .
How much do you earn Mr Vine 🤔.
last phone in caller ..your on the wrong program topic Wake up !!
Its more than 40%
100k a year is £6k per month….not that much🤷♂️
Not it’s £4,371.5
Try living on a state pension
Its not 6k
@@lodoss118 £100k - £12570=£87,430
£87,430 - 40%= £52,458/12 = £4,371.5
@@jackalh1z117 how you getting to that🥴.
Higher earners means those earning millions. Poor journalism by you vile and Kay Burley.
By the way Danny, everyone works and fought hard to get where they.
Salary size doesn’t mean hard work.
These patriots that don’t want to pay their fair share in taxes make me piss
Who is that old woman on the panel claiming to earn less that 100k! Pull the other one grandma!
That old woman is clueless
John Lennon made a protest song "Mr. Tax Man" and moved to the USA bad choice.