The boomers ate all the avocados
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DGAF. Read my post from just after 1pm 🙂
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
Do we think a pensioner with an income of £20,000 should pay the same tax as a working age person with an income of £20,000?
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Are you talking personal pension? No, if we want people to become less reliant on a State pension then you need to make saving for a personal pension as attractive as possible. Taxing State pension is pointless, just cut the amount being paid in the first place.
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State Pension isn't tax free Pross. It just has no facility to have tax deducted so is paid gross and soaks up the personal allowance.
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what are you fishing for.
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They both pay FA so who cares.
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
Excuse my ignorance, but do they not pay the same apart from national insurance?
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That's probably Rick's hook.
FWIW I think N.I. should be scrapped and Income Tax increased to balance the books.
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
Just curious if people think people who are working should pay more tax than retirees and if so why
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OK, I am going to (kind of) bite.
I should probably know this, but let my accountant deal with it - do you get NI relief from pension contributions like you do with tax?
If you do, seems fair enough to charge it later, if not, seems unfair to charge it twice.
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Interesting question, though it probably ought to be taken into account that as one gets older, it becomes increasingly difficult to supplement income if the money runs out. It's not necessarily easy at any age, but I'd have thought that taxing a benefit at a differential rate works only bring marginal gains to the Exchequer (given that pensioners with substantial income above the threshold will already be paying tax like everyone else), so the differential rate would be perceived as a Meany Rick Doesn't Like Boomers penalty.
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The biggest issues are the following the boomers as we're so called have gone through 2 proper recessions and paid into pensions whether state or private in order to fund retirement, are we now expected to return to work should we not have enough. TBH most boomers prefer to take it easy and probably put more money into the economy than millenials. Another massive drag on the economy is supporting the woke / cba to work or any other non working non contributing group of millenials that insist everyone pays for them.
Too many bikes according to Mrs O.2 -
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If you were of a certain age you could pay extra via serps which lowered tax and NI. At the time I paid a fair bit into it, they soon stopped this though. It's been replaced by pension allowance I believe. Also remember most boomers started work at 14 / 15 and didn't get cosetted in school / education system till there 18 like millenials onwards.
Too many bikes according to Mrs O.0 -
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The truly evil rich boomers (as opposed to moderately evil average boomers) will likely be paying a higher rate of tax than people working for an equivalent amount of income if Labour reinstall the lifetime limit on pensions.
Although funnily enough, the youngest boomers are only just turning 60 and probably still working, so does that make them just a tiny bit evil?
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]1 -
I think Rick sometimes forgets to refer to "The Silent Generatiion" i.e. those 79-96 year olds.
FWIW I think those are the most likely to be aging tories hanging on to the notion of an empire.
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
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No thanks, and that's from a boomer.
There is an entire generation that you miss from your rants though.
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
Not sure what the relevance of going through two recessions, proper or otherwise, is. There'll be another along before too long and one would normally expect to experience at least two within a working life.
The single biggest advantage of rolling NI into IT would be killing the idea that anyone is paying in to 'their' state pension. On the example of earnings of £20k, £1366 tax would be paid assuming the minimum employee pension contribution - small but bigger than FA if you are on £20k. For the pensioner it would be £1486 tax paid assuming no pension contribution.
1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
You need to assume a new definition of Boomer as being anyone older than Rick who owns their own home.
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I don't, but Rick needs to be more specific with his generalisations. 😉
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
A boomer moaning to a millennial about going through recessions is pretty funny
- Genesis Croix de Fer
- Dolan Tuono0 -
Preach. If we're doing the 4 Yorkshiremen, how's your entire working life being the worst growth since the Napoleonic wars?
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A recession is when mortgage rates are double digits. No point in crying when it's only 4 or 5 percent.
Too many bikes according to Mrs O.0 -
Even I know that isn't even nearly the definition of a recession
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Ah didn't realise you had your own personal definition of a recession.
- Genesis Croix de Fer
- Dolan Tuono0 -
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Not at all, people need to realise that some boomers actually do care and planned for their retirement even when double digit interest rates. Back then not everyone had a car let alone 2, foreign holidays weren't the norm and nor were mobile phones. We had to work for what we wanted unlike some generations that expect everything on a plate. I'd like to think every generation learns from the previous ones mistake. Sadly it doesn't seem like it.
Too many bikes according to Mrs O.0
