A question about : George Osborne MUST now U-Turn 'Granny Tax'!
George Osborne has done a partial U turn over the Pasty Tax, the Caravan Tax and the Charity Tax amongst over 30 others. He MUST now do another U-turn in respect of the hated 'Granny Tax'.
Because George Osborne 'FROZE' the Elderly Tax Allowance at Ј10,500 forever in his recent budget, present tax paying pensioners will be around Ј83 a year out of pocket from April 2013.
New tax paying pensioners in particular will have anything up to around Ј325 less yearly income as the allowance for them goes down to Ј9,205. At the same time the higher tax rate goes down from 50p to 45p,
This means that someone on Ј200,000 a year will be around Ј10,000 a year better off and the super rich on Ј800,000 or more will be around Ј40,000 a year better off.
So in effect, Osborne has is taking tax from the poor and giving it to the rich.
A sort of Robin Hood in reverse if you like!
Here are a couple of You Tube Videos which you may or may not find amusing ...
The day George Osborne took the Elderly for fools...
https://www.youtube.com/watch?v=4yDqFvVBNK4
The Tax Gran song...
https://www.youtube.com/watch?v=qMMVe4kfQaE
THE TAX GRAN SONG
You've heard the budget speech now you've been told
Make lots of cash then die before you're old
'Cause we're gonna Tax Gran that's what it is
We're gonna Tax Gran freeze her allowances
You better hope next winter isn't cold
The 50p top rate of tax is now gone
We'll get what we need from Grandma from now on
We're gonna Tax Gran, we're glad she's there
To subsidize the Billionaires
We're gonna Tax Gran
Even the Sun said this is wrong
THIS ARTICLE FROM THE DAILY MAIL EXPLAINS THE ISSUE QUITE WELL...
https://www.dailymail.co.uk/money/pen...#ixzz1urCBFGHk
Best answers:
- Not much hope of that.
- Given that it was the most logical of the revised taxes, lets hope he doesnt.
- The Grannies not for turning.
Oh no that was Maggie wasn't it. - What a completely ignorant and useless political rant.
You don't even understand the material here.
There is no tax, the allowance is just being frozen. Most other countries don't have a higher allowance for pensioners. I am in favor of the new larger allowance for all.
It is the fairest system. - At the Budget George Osborne FROZE the Elderly Tax Allowance FOREVER so that it dies on the vine.
You Tube Budget Day.....
https://www.youtube.com/watch?v=4yDqFvVBNK4
Look at it very carefully and the Elderly Tax Allowance will be gone FOREVER once the lower band catches up to Ј10,500 a year present allowance.
FROZEN in time, never to return
FOREVER...always; eternally; - And so it should be. Equality.
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