Sam Bailey

[Sam Bailey @SamBail72872077]

@MrPrompter Best comment. Well done👏. Have you noticed ALL the political parties are saying the same thing re increasing defense spending. Its a shame even corbyn had to commit to the (old) high spending of 2% of GDP commitment. But least with him there would have been no wars.

[Sam Bailey @SamBail72872077]

@AaronBastani Thats what I found so absurd about the debates from 2010-2024 where labour and tories argued about the top rate should be 50 or 45% above 150k meanwhile the band of income where it is 60% got bigger and bigger (once 100-112k) in 2009

[Sam Bailey @SamBail72872077]

@suedehead42 Where have I heard that before? Let me think the tories 2010-2024 said the exact same thing re the mess.🙃. The truth is both labour and tories left a mess in differing and same areas. Unfortunately the mood music is reform will be mad and bad also but that will be 3 years away.

[Sam Bailey @SamBail72872077]

@KenBroughton_ I believe reform stated it would only apply to incomes up to around £75k. About time reform came up with a policy at least but for me they are still not worth my vote.

[Sam Bailey @SamBail72872077]

@chamith888 You have a point. What I do not get is why it was not it seems a big issue before 2014 as it was subject to iht prior to that and at a rate of 55% if not mistaken.

[Sam Bailey @SamBail72872077]

@alexwickham Everyone knows about the big taxes pledge in the manifesto. However One thing that is not noticed by many in the manifesto it also stated all taxes would be kept low as possible ie not just what they deem workers taxes.

[Sam Bailey @SamBail72872077]

And that nonsense started in 2009 (or 2010) under labour between 100-112k. And far from getting smaller the band of income efected by 60% tax got bigger and starting point never increased to.

[Sam Bailey @SamBail72872077]

@LeftNatLeft Or take the top income tax rate debate between 2010-2024 it was it should be 50 or 45% and the tories cutting it to 45% was condemned yet it was 40% for all but 1 month 1997-2010. Moreover that debate ignored between 100k-125k it is in fact 60% with the tories

[Sam Bailey @SamBail72872077]

@LeftNatLeft Not that I am a tory btw just illustrating thats how it seems inescapably just get worse and worse over the years regardless. And imv all the mood music is should farage get elected things will not get any better either. The backlash to that I fear will be huge

[Sam Bailey @SamBail72872077]

@LeftNatLeft Or take tuition fees rallied against them being tripled only for them to maintain them at the high level and even increase them slightly Or take council housing if memory serves only a few thousand where built from 1997-2010 post 2010 complained about the lack of social homes

[Sam Bailey @SamBail72872077]

@LeftNatLeft I may be wrong here but that would not be difficult between covid/ukraine war fallout responses. Same with the nhs waiting lists may be down but still much higher than it use to be. Social care once bemoaned by labour that tories are doing nothing - nothing with labour now also.

[Sam Bailey @SamBail72872077]

@DanNeidle I think length of time is also worthy of consideration. For eg those who got into bitcoin when it was whatever the small figure was and then sold them when it was crazy no more than 10 years later paying even 20% more would hardly be much vs compared with a long term investor

[Sam Bailey @SamBail72872077]

@DanNeidle If memory serves Lawson said defending the exemption up to 1982 it would be unfair to tax people who were making merely paper gains in a period of high inflation. I think one problem with the inflation measure imv is real inflation is higher than the figures.

[Sam Bailey @SamBail72872077]

@DanNeidle Hiya Dan, The 1988 budget did not just allow for inflation - I think it also exempted ALL gains up to 1982 which then was only 6 years earlier. So that and the inflation allowance (as outlined by you) makes it a lot different than the normal suggestion of just income tax rates

[Sam Bailey @SamBail72872077]

@ShirleyAFields9 Could say why should someone who has owned something say decades pay the same rate as someone who comparatively recently owned something that went up massively? Eg here could be bitcoin. Or how is it fair a lottery winner pays 0% for no effort whatsoever or premium bond winner

[Sam Bailey @SamBail72872077]

@thecare7aker Even if the 'landlord' was gifted the house then the previous owner would have been subject to cgt. And if the 'landlord' inherited the property or perhaps properties then above the iht exemption they would have been subject to 40% iht

[Sam Bailey @SamBail72872077]

@disco___cat And the rate you would set it at and the exempt (presume you would support an exempt amount) But I give credit your consistent as so,so many over here support higher cgt but then oppose higher inheritance levies Worth noting some truly rich brits emigrated to oz and will avoid it

[Sam Bailey @SamBail72872077]

@disco___cat Would you also say that in the context of inheritances? As in the uk it is 40% above 325 to £1 million tops unlike Australia where it is 0% whatever the ammount.