David Hearne, CFP™

Certified Financial Planner. Independent Financial Adviser. Retirement Planning, Investment Management and Estate Planning. Posts are personal, and not advice.

[David Hearne, CFP™ @dontdelay]

I am a qualified, regulated and practicing financial planner.

You can find me...

On @TheFCA register https://t.co/rOsFgSmlqY

The @CISI members directory
https://t.co/WuFt732mq0

And the @pfsconf members directory https://t.co/YLfZXUWwcJ

[David Hearne, CFP™ @dontdelay]

@mj_cotton It’s a global commodity, but if one country charges more tax, you will get less supply from that country.

The tax in one country alone won’t move the global price but it will move where supply comes from

[David Hearne, CFP™ @dontdelay]

Increase taxes and you reduce supply at a given price

Because they’re not going to go to the effort of supplying without a profit

So prices have to rise

Doesn’t matter whether it’s input costs, labour costs, tax costs, any increase in costs will push up prices

[Dr. Jeevun Sandher MP @JeevunSandher]

Nope, that’s not how taxes and price works. The price is determined by demand and supply.

Companies charge the highest price they can given demand. A tax levied on *profits* does not affect a company’s cost ie supply.

Taxes on *windfall* profits (like oil and gas) are the most efficient kind of tax there is.

[Dan Neidle @DanNeidle]

Most tax calculators tell you how much tax you pay *now*. Ours also shows how much tax you'll pay on your next £1. Your marginal rate.

We'll be publishing straight after the Budget. But here's a preview - I'd love to get feedback.

https://t.co/N1iNsGteTy

[David Hearne, CFP™ @dontdelay]

@Newspace14 What do you think happens to those profits?

[David Hearne, CFP™ @dontdelay]

@ObliviousReaper Exactly. I remember learning about supply and demand curves in term one of an economics AS level. This should be basic stuff for an MP charged with making decisions on this stuff

[David Hearne, CFP™ @dontdelay]

@lanthiertax 100%? No I don’t think that

[David Hearne, CFP™ @dontdelay]

@CaltonWMTom That looks ideal. Done a few 50km this year and I’ve got my first 50 mile in the Lake District next summer called the Lakeland50

And I’ve got a UTMB 50k in Cornwall in January as part of my training

Ask me after them whether I want to do it again in Scotland!

[David Hearne, CFP™ @dontdelay]

I’m ranked 704,999 in the world for ultra marathons

Take that my old PE teacher

[David Hearne, CFP™ @dontdelay]

@percyridesagain Sorry but what loss of future are they suffering from us all having the same stat pension age now?

[David Hearne, CFP™ @dontdelay]

You do

But most people on £99k don’t get to £500k

If you are you suck it up and get through it

Just like people on £60k have to accept they’ll lose child benefit on the way to £100k

But it’s those who are already near their maximum or already working too many hours or don’t have enough years ahead of them who may decide to just stop at £99k and get some time back instead

[David Hearne, CFP™ @dontdelay]

@percyridesagain @daverain Who are the 50% suffering a ‘loss of future’ ?

[David Hearne, CFP™ @dontdelay]

@CaltonWMTom I’ve never ran on Scottish hills. Maybe be in 2028!

[David Hearne, CFP™ @dontdelay]

@ExecSuperHead I went to check and I’ve lost over 100 places 🤣

[David Hearne, CFP™ @dontdelay]

@estrellasadie @WasOnceLoved What extra layers would you like to see?

[David Hearne, CFP™ @dontdelay]

@WasOnceLoved @Collectors_Way @taviraterry A lot

[David Price @Davidpr52119342]

@Collectors_Way @dontdelay Yes… it’s a well known feature of the tax cliff edge..

[David Hearne, CFP™ @dontdelay]

@WasOnceLoved @Collectors_Way @taviraterry There’s no ‘poor me’ about it

There’s the simple reality that many people will stop work rather than pay 60% tax

That’s their choice

[David Hearne, CFP™ @dontdelay]

@Collectors_Way @taviraterry @WasOnceLoved Reality

[David Hearne, CFP™ @dontdelay]

@WasOnceLoved Focus?

You quote posted me

I’m just responding

[David Hearne, CFP™ @dontdelay]

@Collectors_Way @stone3Clare Im talking about people earning, or able to earn £100k +

There’s over 2,000,000 of them vs about 160 billionaires

Really no correlation at all

[David Hearne, CFP™ @dontdelay]

@WasOnceLoved @Shinobiisback @Collectors_Way Whining about what?

I want people to earn more and pay more tax

So what am I whining about?