Fiscal drag is already an absolute scandal and its astonishing they are even considering continuing the frozen brackets. Personally speaking I am already £400 a year worse off thanks to fiscal drag than 2024. 50% of my pay „raise“ this year (NHS 3.6%) has already been swallowed by next years fiscal drag. Poof! Gone. Never saw a bean of it.
Tax the fucking corporations! There’s no point worrying about (hollow – from the likes of Amazon) threats of job losses if working FT doesn’t pay a living anymore. Employers like Amazon are pushing hard for AI and automation anyway. Pretty soon there will be mass redundancies. Make them fucking pay *now*!
Double_Comedian_7676 on
But isn’t that raising taxes on working people yet again?
Or are we meant to just surrender any pay rises we receive while the price of everything increases
dcrm on
FANTASTIC! This is why Labour are losing the next GE.
OkCurve436 on
That’s a vote winner, taxing everyone more. Wonder which genius thought that up?
Diligent_Craft_1165 on
Predicted this when everyone started getting upset about winter fuel allowances and benefits being harder to claim.
Benefits and pensions will go up with inflation. Tax bands frozen to pay for it. Wouldn’t be surprised if they sneak in a basic rate rise too.
Intrepid_Solution194 on
There we go; ceasing curbing of taxpayer funded freebies for those who don’t need them and now we have to tax the workers some more to make up for the u-turns.
Well done bleeding heart lefties *slow clap*
MerakiBridge on
The Treasury has been raking in and wants even more. Nuts.
Worldly-Emphasis-608 on
We haven’t got enough money to pay for everything everyone wants so we need to reduce spending = boo hiss, evil party taking from the most needy.
We haven’t got enough money to pay for everything everyone wants so we need to increase income = boo hiss, I stop taking all our money!
What’s the third option? Take it from the people who already have more than they need in 1000 life times, take it from corporations that are paying pennies on the pound of actual profits… No doubt there will be booing and hissing at this idea as well.
Is there a fourth option?
CleanMyAxe on
Has everyone already forgotten that the Tories had already frozen the tax bands until 2028? Labour hasn’t changed anything. They could of course, but the freezing isn’t a labour implementation.
Turbulent_Art745 on
I’m not a fan of how this is being blamed on the sick and disabled and not the triple effing lock….
Let’s be honest the u turn still screws over disabled people, just those who come after it is signed up.
I love how my great great aunt gets even more money in her pension even though she sold her ex council house in London and made a killing before moving out…
But yeah those awful disabled people
6033624 on
Great, the poorer you are the worse this’ll hurt. Labour are now further to the right than the Conservatives in the 80s..
ballsybadger on
Sorry don’t follow politics very closely, does this mean the people conning the welfare system are safe and the honest working man is now facing even more taxation ? There is so much fraud in the welfare system yet people seem to think it should be untouchable.
setokaiba22 on
We should be uprising if it gets frozen again. It’s effectively an extra tax at this point
charlieswingman on
Redditors shocked when the answer to “not cutting spending” is “higher tax”
Who could have possibly seen that one coming.
Socialistinoneroom on
“Raise funds”.. 🤦♂️
UK government issues their own currency and cannot run out of money in the same way households or businesses can.. So do not need to “raise funds” (taxes) to spend.. Government can create money via its central bank..
This is not to say taxes do not still serve critical purposes.. they do, including controlling inflation by reducing money in circulation.. Creating demand for the currency (since you must pay taxes in it).. Redistributing wealth.. Legitimising government spending politically and economically..
TLDR.. Spending comes first; taxes come later.. The government spends money into the economy and taxation helps manage the consequences of that spending.. the real limit on government spending isn’t taxes but inflation and productive capacity..
ramirezdoeverything on
And they wonder why Reform are set to win the next election
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16 Kommentare
Fiscal drag is already an absolute scandal and its astonishing they are even considering continuing the frozen brackets. Personally speaking I am already £400 a year worse off thanks to fiscal drag than 2024. 50% of my pay „raise“ this year (NHS 3.6%) has already been swallowed by next years fiscal drag. Poof! Gone. Never saw a bean of it.
Tax the fucking corporations! There’s no point worrying about (hollow – from the likes of Amazon) threats of job losses if working FT doesn’t pay a living anymore. Employers like Amazon are pushing hard for AI and automation anyway. Pretty soon there will be mass redundancies. Make them fucking pay *now*!
But isn’t that raising taxes on working people yet again?
Or are we meant to just surrender any pay rises we receive while the price of everything increases
FANTASTIC! This is why Labour are losing the next GE.
That’s a vote winner, taxing everyone more. Wonder which genius thought that up?
Predicted this when everyone started getting upset about winter fuel allowances and benefits being harder to claim.
Benefits and pensions will go up with inflation. Tax bands frozen to pay for it. Wouldn’t be surprised if they sneak in a basic rate rise too.
There we go; ceasing curbing of taxpayer funded freebies for those who don’t need them and now we have to tax the workers some more to make up for the u-turns.
Well done bleeding heart lefties *slow clap*
The Treasury has been raking in and wants even more. Nuts.
We haven’t got enough money to pay for everything everyone wants so we need to reduce spending = boo hiss, evil party taking from the most needy.
We haven’t got enough money to pay for everything everyone wants so we need to increase income = boo hiss, I stop taking all our money!
What’s the third option? Take it from the people who already have more than they need in 1000 life times, take it from corporations that are paying pennies on the pound of actual profits… No doubt there will be booing and hissing at this idea as well.
Is there a fourth option?
Has everyone already forgotten that the Tories had already frozen the tax bands until 2028? Labour hasn’t changed anything. They could of course, but the freezing isn’t a labour implementation.
I’m not a fan of how this is being blamed on the sick and disabled and not the triple effing lock….
Let’s be honest the u turn still screws over disabled people, just those who come after it is signed up.
I love how my great great aunt gets even more money in her pension even though she sold her ex council house in London and made a killing before moving out…
But yeah those awful disabled people
Great, the poorer you are the worse this’ll hurt. Labour are now further to the right than the Conservatives in the 80s..
Sorry don’t follow politics very closely, does this mean the people conning the welfare system are safe and the honest working man is now facing even more taxation ? There is so much fraud in the welfare system yet people seem to think it should be untouchable.
We should be uprising if it gets frozen again. It’s effectively an extra tax at this point
Redditors shocked when the answer to “not cutting spending” is “higher tax”
Who could have possibly seen that one coming.
“Raise funds”.. 🤦♂️
UK government issues their own currency and cannot run out of money in the same way households or businesses can.. So do not need to “raise funds” (taxes) to spend.. Government can create money via its central bank..
This is not to say taxes do not still serve critical purposes.. they do, including controlling inflation by reducing money in circulation.. Creating demand for the currency (since you must pay taxes in it).. Redistributing wealth.. Legitimising government spending politically and economically..
TLDR.. Spending comes first; taxes come later.. The government spends money into the economy and taxation helps manage the consequences of that spending.. the real limit on government spending isn’t taxes but inflation and productive capacity..
And they wonder why Reform are set to win the next election