Should Pensioners Pay More Tax?
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A report thinks that pensioners should pay more tax because "in financial terms alone, older people are no longer special."
On the one hand, wealthy pensioners can afford to do a bit more since they're not paying for a mortgage etc. However, they've worked and paid tax for years. They deserve a break! I've no idea what's fairest.
What do you think?
http://www.watchmywallet.co.uk/news/2013/april/pensioners-should-pay-more-tax/
On the one hand, wealthy pensioners can afford to do a bit more since they're not paying for a mortgage etc. However, they've worked and paid tax for years. They deserve a break! I've no idea what's fairest.
What do you think?
http://www.watchmywallet.co.uk/news/2013/april/pensioners-should-pay-more-tax/
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Comments
That will be becaus their outgoings have dropped dramatically with no mortgage or children to pay for. It's not a sign of increased income that can be subject to more taxation. Is that the principle of what these Fabian people are saying? People with less to pay out should be paying that in tax instead?
Some are well off, others aren't.
Many will have paid tax all their lives, and planned for old age. I don't see why they should pay any extra.
Pay back for the times they were struggling to bring you up and also paying for a roof over their heads.
Both myself and my husband are still paying tax on our pensions and on the income from our hard put by savings and investments.
The return on our savings has been greatly reduced since 2008 due to low interest rates.
YES.................
Pensioners are taxed. They pay tax on savings interest, they pay VAT, they run cars with excise duty attached, fuel duty, duty on cigarettes etc etc. Income tax is not the only method of taxation.
They are not exempt!
The old age pension is taxable although pensioners do have slightly higher personnel allowances.
Not to mention that many of them will have paid income tax for 40-odd years prior to retiring, too.
Ok thanks.
If their income is below the higher rate threshold, they pay the standard rate, if their income is above they pay the higher rate. Same as everyone else has to.
They do have higher personal allowances, but they aren't hugely different.
Pensioners having nothing to do with whether a 25-34 year old can or cannot get onto the property ladder, unless somebody can prove to me otherwise.
It all seems rather bizarre, almost as if they are blaming pensioners for the woes of the world today and the effect upon the younger generation.
If a pensioner is fortunate to own their house outright it's not because some lump sum and a free bus pass has enabled that to happen, it's because they have worked for a considerable period of time to pay off a mortgage.
Is it time now to blame the pensioners for the state of the nation?
Not for much longer.
Which was addressed in the last budget and is now frozen until the rate for the rest of the population catches up.
Out of the one in six of the population that are pensioners 4.4 million pay income tax, this is not however taken into consideration when the benefit bill is being discussed on here
Many pensioners now, after raising their children, give them cash out of their savings to help them with a deposit.
Exactly, I 100% agree. Unfortunately, the mentality in this country for many is to look at those who have something, wonder why they don't have it too, and thus demand it be taken from them.
I agree, it is almost looked down on if you have qualifications and a decent income. It seems you are considered greedy and selfish for working hard for a better lifestyle and to be able to afford that little bit extra in retirement.
Well the press has blamed the unemployed, the disabled and the low paid. Pensioners are just the latest target.