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[BoroRedKen]

Lost many myself. Just mean average life expectancy is continuing to grow

Yes i knew what you meant Doyler.

 

[ZiEgE]

The main problem is an ever aging population which has created a major pension deficit that has not been addressed for decades. We're all living too long

It's not though Doyle.

We spend more on national debt payments than we do on pensions.

https://www.gov.uk/government/publications/how-public-spending-was-calculated-in-your-tax-summary

[Doyle1979]

The main problem is an ever aging population which has created a major pension deficit that has not been addressed for decades. We're all living too long

It's not though Doyle.

We spend more on national debt payments than we do on pensions.

https://www.gov.uk/government/publications/how-public-spending-was-calculated-in-your-tax-summary

Pensions are from NI contributions. Income tax pays national debt. Was discussing this on another thread other day

[Doyle1979]

Most income tax you pay goes to pay national debt. NI is a tax but it comes back to you in various ways particularly health care and state pension

[fukyu]

It's a fallacy that NI is used for health ect, it's just a tax that's collected and put into the pot, it's not ring fenced.

[ZiEgE]

National debt is 8.4% of spending.

Tax for purposes isn't a thing anymore. It all goes into a big pot. Road tax is not used on roads. NI doesn't go to the NHS and pensions.

This is why stealth taxes, like raising taxes on employers NI, are just more tax lumped on the population.

All businesses do is pass that cost onto the end consumer. Hence why prices will go up everywhere (adding to inflation) stopping the economy growing in real terms and keeping us all poor.

[Doyle1979]

It's a fallacy that NI is used for health ect, it's just a tax that's collected and put into the pot, it's not ring fenced.

You get it back when you or your family are ill or dying through healthcare. It pays your mams bus pass, will keep the roof over you and your kids heads should life make you not able to work and much more. Tell everyone they don't need to pay it and see what happens to society. You'd soon realise. It's why we're not a third world country

[Doyle1979]

National debt is 8.4% of spending.

Tax for purposes isn't a thing anymore. It all goes into a big pot. Road tax is not used on roads. NI doesn't go to the NHS and pensions.

This is why stealth taxes, like raising taxes on employers NI, are just more tax lumped on the population.

All businesses do is pass that cost onto the end consumer. Hence why prices will go up everywhere (adding to inflation) stopping the economy growing in real terms and keeping us all poor.

That's all tax though not income tax. My income tax spend was over 50% on national debt.  You pay VAT on everything you buy. If you give tye unemployed a grand a week they'd put it back in the coffers by spending it and the VAT from that spend. Then there's capital gains and corporation tax. 8.4 is based on all those taxes not income tax only

[Doyle1979]

National debt is 8.4% of spending.

Tax for purposes isn't a thing anymore. It all goes into a big pot. Road tax is not used on roads. NI doesn't go to the NHS and pensions.

This is why stealth taxes, like raising taxes on employers NI, are just more tax lumped on the population.

All businesses do is pass that cost onto the end consumer. Hence why prices will go up everywhere (adding to inflation) stopping the economy growing in real terms and keeping us all poor.

Of course there's tax for purposes. Might not be the purposes you'd want. If yiu borrow money that's benefitted you and at some point it has to be paid. It was borrowed for a purpose.

[fukyu]

It's a fallacy that NI is used for health ect, it's just a tax that's collected and put into the pot, it's not ring fenced.

You get it back when you or your family are ill or dying through healthcare. It pays your mams bus pass, will keep the roof over you and your kids heads should life make you not able to work and much more. Tell everyone they don't need to pay it and see what happens to society. You'd soon realise. It's why we're not a third world country

I know what it's collected for but it's not kept separate no taxes are, keep up.
 

[Doyle1979]

@fukyu they are separate as NI is contribution based and recorded against your NI number so that if you need state help you can be paid out to the level you've paid in. The government cannot determine how many people may need their contributions back so have to hold it. If they spunked it all and you got ill they can't say sorry we've not got it. If you claim housing benefit they only pay the max to you based on your contributions then it decreases. They have to be kept separate

[Doyle1979]

National debt is 8.4% of spending.

Tax for purposes isn't a thing anymore. It all goes into a big pot. Road tax is not used on roads. NI doesn't go to the NHS and pensions.

This is why stealth taxes, like raising taxes on employers NI, are just more tax lumped on the population.

All businesses do is pass that cost onto the end consumer. Hence why prices will go up everywhere (adding to inflation) stopping the economy growing in real terms and keeping us all poor.

Of course there's tax for purposes. Might not be the purposes you'd want. If yiu borrow money that's benefitted you and at some point it has to be paid. It was borrowed for a purpose.

There's micro and macro economic reasons for inflation, such as quantitative easing, geopolitical issues, supply and demand, fiscal policies etc not just a business passing on their costs. That's a small reason in comparison to all the other factors.

[fukyu]

@fukyu they are separate as NI is contribution based and recorded against your NI number so that if you need state help you can be paid out to the level you've paid in. The government cannot determine how many people may need their contributions back so have to hold it. If they spunked it all and you got ill they can't say sorry we've not got it. If you claim housing benefit they only pay the max to you based on your contributions then it decreases. They have to be kept separate

You still don't seem to understand that all though taxes are taken from various sources the the treasury doesn't separate them.

[Doyle1979]

They separate how it's used. I've no idea if it's held in the same account. It's why we have a budget so that there's checks and balances. We outline what is going towards say the NHS in a budget. Income tax gets paid at various points depending on your employment status and can be used ad hoc for say a war we've just entered into.

[Doyle1979]

How long ,before its people like me with a spare room,  the gov/council come a-knockin'.........

We have bedroom tax that was brought in years ago for ppl who maybe on housing benefit with a spare room. Can lead to eviction. Could never happen to a private property as it's yours

[Johnny Thunder]

We're all living too long

We are not working long enough. Retirement age will soon be 75.

[Doyle1979]

We're all living too long

We are not working long enough. Retirement age will soon be 75.

No one should have to work to that age. Thankfully I got out of the game early.