Asthehills Posted February 21, 2023 Share Posted February 21, 2023 17 minutes ago, Omobono said: Not if husband and wife are high flyers in the civil service , just look around and see who is married or living with who , there are plenty around , then add the pensions both will be picking up , should be paying a lot more tax ! Or private sector. I am no fan of the salaries and pensions paid out by CS, but there will be far more outside government than in it impacted by this change. That said, the change is pointless and will only serve to make some of those who read a headline feel like high earners have taken a hit when in reality it’s a pointless exercise that very slightly impacts those on 100 to 150k and will go unnoticed by anyone above that for reasons already stated by others. A higher tax rate over 100k, plus an increase in the tax cap by another 100k would have been more meaningful (and still largely unnoticed by those paying it) 1 Quote Link to comment Share on other sites More sharing options...
slinkydevil Posted February 22, 2023 Share Posted February 22, 2023 (edited) Budget day tomorrow. What's everyone expecting? 🤔 Edited February 22, 2023 by slinkydevil 1 2 Quote Link to comment Share on other sites More sharing options...
woolley Posted February 22, 2023 Share Posted February 22, 2023 5 hours ago, wrighty said: I agree with the concept of the rich paying more tax, but this is the wrong way to do it. Effectively, anyone earning over £129000 is paying £2900 more in tax, whether they earn £129000, or several million. Reducing the threshold just increases the number of people this rule affects. Better would be to have a higher rate tax - say 25% earnings over £100k. This would generate similar amounts of money, but be graduated according to earnings, so those earning millions would pay more than those on £129000. Won't affect anyone over a million because they'll be capped unchanged at £200,000. 1 Quote Link to comment Share on other sites More sharing options...
Anyone Posted February 22, 2023 Share Posted February 22, 2023 2 hours ago, woolley said: Won't affect anyone over a million because they'll be capped unchanged at £200,000. Quite right too , why should the rich pay more tax just because they’re absolutely loaded beyond belief and have more money than they can ever spend ( unless they love bling ). It’s not fair on them. Those in need , bloody stay in need. Quote Link to comment Share on other sites More sharing options...
wrighty Posted February 22, 2023 Share Posted February 22, 2023 5 hours ago, woolley said: Won't affect anyone over a million because they'll be capped unchanged at £200,000. True, forgot about that. So basically it’s an extra £2900 tax to pay for those earning between £129k and ~£600k, more than that you’re capped anyway, if you choose to be. 1 Quote Link to comment Share on other sites More sharing options...
WTF Posted February 22, 2023 Share Posted February 22, 2023 1 hour ago, wrighty said: True, forgot about that. So basically it’s an extra £2900 tax to pay for those earning between £129k and ~£600k, more than that you’re capped anyway, if you choose to be. just pocket change in teal terms to them. Quote Link to comment Share on other sites More sharing options...
Blade Runner Posted February 22, 2023 Share Posted February 22, 2023 How many on the rock earn more than £130k? with spouses on £70k +? Roger? I cant see this raising much TBH Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted February 22, 2023 Share Posted February 22, 2023 (edited) £153M further raid on reserves, to "avoid cuts in services". And....the Cash Cows are now being milked as everybody suspected that they would. But let's not forget who's feeding those cows. It's every man woman and child on the Island who are paying the increased postal charges and buy anything that comes onto the Island via the freight channels. We, the public are not just bring milked via this process too - we are being bent over a barrel and penetrated. Edited February 22, 2023 by Non-Believer Extra bit Quote Link to comment Share on other sites More sharing options...
offshoremanxman Posted February 22, 2023 Share Posted February 22, 2023 2 hours ago, wrighty said: True, forgot about that. So basically it’s an extra £2900 tax to pay for those earning between £129k and ~£600k, more than that you’re capped anyway, if you choose to be. Yes it’s basically almost worthless virtue signaling about high earners. It will affect so few people and even then by such a small amount. 3 Quote Link to comment Share on other sites More sharing options...
2112 Posted February 22, 2023 Share Posted February 22, 2023 I just love the way the NPM give the budget airtime in terms of reflection on the news, with them describing yesterday as a day of speeches, criticism and debates. I wouldn’t go that far, as there is virtually no debate, criticism is stiffled but there are lots of speeches. It was telling that the vote on the budget was finished by 3.15 yesterday. There have been mammoth debates in real bullshit topics of contention before, but the flagship piece of legislation is nodded through with little scrutiny. Again like IOMG it’s all about the priorities. 1 Quote Link to comment Share on other sites More sharing options...
TheTeapot Posted February 22, 2023 Share Posted February 22, 2023 School bus fares to rise by a quarter. All problems are solved by this one clever trick. Quote Link to comment Share on other sites More sharing options...
Banker Posted February 22, 2023 Share Posted February 22, 2023 Wannenburgh voted against https://www.manxradio.com/news/isle-of-man-news/govt-spending-money-like-its-going-out-of-fashion/ Heard Watterson on radio saying it was an attack on working poor & then voted in favour!!! 4 Quote Link to comment Share on other sites More sharing options...
2112 Posted February 22, 2023 Share Posted February 22, 2023 11 minutes ago, Banker said: Wannenburgh voted against https://www.manxradio.com/news/isle-of-man-news/govt-spending-money-like-its-going-out-of-fashion/ Heard Watterson on radio saying it was an attack on working poor & then voted in favour!!! So did David Cretneys Daughter, but she’s in the club. Joney Faragher was another one who voted in favour. Quote Link to comment Share on other sites More sharing options...
offshoremanxman Posted February 22, 2023 Share Posted February 22, 2023 (edited) 10 minutes ago, 2112 said: So did David Cretneys Daughter, but she’s in the club. Joney Faragher was another one who voted in favour. It’s a poor show for MLP to vote for meaningless changes to the islands highest earners whilst everything that impacts low and mid earners has just gone up. They’ll be back to virtue signaling about silly green issues and strikes as a smoke screen though. TIDs - Tories In Disguise. Edited February 22, 2023 by offshoremanxman 3 Quote Link to comment Share on other sites More sharing options...
Two-lane Posted February 22, 2023 Share Posted February 22, 2023 Is there a graph or data showing the amount of the IoM reserves over the last 10 or 20 years? Quote Link to comment Share on other sites More sharing options...
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