50% Income Tax: Who cares?
The one aspect of the 2009 Budget that made the headlines was the 50% Income Tax that will be levelled on incomes over £150k. And let's recall what that means: if you earn more than £150k, you'll pay 50% on that portion of your wage over £150k. I'm personally in favour. The Tories haven't said they're against. Not many people relate to it, in my experience so far. I suspect it's a genius move.
Four overheards and conversations:
Overheard in the City of London:
Well-dressed lady: Paying 50% tax is a problem I'd like to have
Via Text (re the Chancellor):
Public sector worker: I'm not sure what else he could have done.
In the pub:
Me: Hey Jeff. What do you think about the Budget?
Jeff (SME, who votes Tory): Fags, beer or petrol?
On the phone:
High earner on more than £150k PA: I'm £15k worse off. Your government did that.
Me: I'm not going to apologise.
High earner: I work hard for my salary.
Me: Lots of people work hard. Plenty of people work harder than both of us.
High earner: It's hitting me hard. What have you got to say about that?
Me: On behalf of a grateful nation, we thank you for your support. (Laughs)