Do bankers pay a 45% tax? Watch

Princepieman
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#41
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#41
(Original post by frankielogue)
“compensation” my arse - half a million a year is a huge excess. and don’t tell me that there’s less demand for people such as builders in a society with a housing shortage.
'Huge excess' is a value judgement based on jealousy and not logic.
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Ladbants
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#42
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#42
(Original post by frankielogue)
“compensation” my arse - half a million a year is a huge excess. and don’t tell me that there’s less demand for people such as builders in a society with a housing shortage.
There is a larger supply of builders and people with those skills. The people in banking that are earning half a million are adding way more than that in value for the bank.
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cbreef
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#43
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(Original post by Jagwar Ma)
Oh? You don't pay tax? Okay, well once you work your absolute arse off sacrificing your health, relationships, social life to achieve a salary the vast majority of people will never achieve, then maybe you'd be in a better position to judge what it would be like to pay a massive amount of money in tax.

Yes, there are people who work outrageously hard and don't earn anywhere near that much. That's besides the point though.
You sacrifice your own health for a high salary? Wtf is wrong with you? As for the other 2... we all do in one way or another by working even just normal hours.
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DetectivePeralta
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#44
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#44
(Original post by Ladbants)
There is a larger supply of builders and people with those skills. The people in banking that are earning half a million are adding way more than that in value for the bank.
I am always amazed by how many people like him can't understand basic economics.
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Yaboi
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#45
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(Original post by BasicMistake)
Like I said, what you end up with is civil unrest. Trade unions get angsty and workers start going on strike. Not only is this an economic problem, it has severe social implications.



You're going to have to explain this one.



In theory but it is laughable to say that we have reached this point. Both the NHS and schools are feeling the squeeze. The NHS in particular is going to have a hard time over the next few decades as the population becomes steadily greyer.
Hmmm, with regards to the third part I was moreso thinking towards the future if/when we might reach such a stage. Forget the second point, not sure what went through my head there.

I do find the view fascinating though, I guess the idealist overcomes the idea of civil unrest even knowing people will always find something to be upset over.
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cbreef
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#46
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#46
(Original post by Princepieman)
'Huge excess' is a value judgement based on jealousy and not logic.
I'm all in favour of higher skilled/demanding professions paying out more than others, but there should be a limit to what you are able to make. 500k a year is utterly ridiculous
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Jagwar Ma
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#47
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#47
(Original post by cbreef)
You sacrifice your own health for a high salary? Wtf is wrong with you? As for the other 2... we all do in one way or another by working even just normal hours.
I'd assume the majority of high earners work, or at least at some point in their lives, work over and above 'normal hours'. Early mornings and late nights combined with stress takes its toll on you health wise. You'll get a slight taste of that if you decide to go to university.
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Jagwar Ma
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#48
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#48
(Original post by cbreef)
I'm all in favour of higher skilled/demanding professions paying out more than others, but there should be a limit to what you are able to make. 500k a year is utterly ridiculous
a limit based on what?
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DetectivePeralta
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#49
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#49
(Original post by cbreef)
I'm all in favour of higher skilled/demanding professions paying out more than others, but there should be a limit to what you are able to make. 500k a year is utterly ridiculous
But people who are earning that amount usually have a very good reason as to why they are being paid so much. It's usually because they have a lot of valuable experience and skills and are generating a lot of profit for the employer. For example, traders at banks often generate millions of pounds in profit. That's why they are entitled to those bonuses.
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cbreef
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(Original post by will'o'wisp)
Apart from the knowledge and skills needed to do that job.

I don't get your argument

the general curve of knowledge against salary a probably a y=x curve but i get the feeling that you're saying that everyone should earn a similar amount and the more skilled jobs only have a slightly bigger salary which i think is not fair.

If you have someone who is only 1 of 10k people in the world who could do that job then i think they should be paid fairly handsomely.
I'd like to see banking compared side by side with other "skilled" professions like Engineers, Doctors, Police Officers, Lawyers etc.
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_Fergo
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#51
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#51
(Original post by cbreef)
I'm all in favour of higher skilled/demanding professions paying out more than others, but there should be a limit to what you are able to make. 500k a year is utterly ridiculous
Yes. Punish others because they're more successful than you and place a huge focus on their careers.

Sounds like bitterness to me.

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cbreef
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#52
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#52
(Original post by Trapz99)
But people who are earning that amount usually have a very good reason as to why they are being paid so much. It's usually because they have a lot of valuable experience and skills and are generating a lot of profit for the employer. For example, traders at banks often generate millions of pounds in profit. That's why they are entitled to those bonuses.
Ok, he should be rewarded, but bonuses are completely out of control. There are people taking home millions every year even when they have completely bottled it.
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cbreef
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#53
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(Original post by _Fergo)
Yes. Punish others because they're more successful than you and place a huge focus on their careers.

Sounds like bitterness to me.

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Not at all. Human greed is really taking its toll on the world and it's getting out of hand. Seriously what do you with £500,000 every year?
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DetectivePeralta
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#54
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#54
(Original post by cbreef)
Ok, he should be rewarded, but bonuses are completely out of control. There are people taking home millions every year even when they have completely bottled it.
Yes, that I agree with. It's insane that some bankers were making huge bonuses even during the financial crisis and when the government had to bail them out.
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Jagwar Ma
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(Original post by cbreef)
Not at all. Human greed is really taking its toll on the world and it's getting out of hand. Seriously what do you with £500,000 every year?
I could spend tens of thousands on shoes and suits. I'd like a Rolls Royce, which starts at what, 300k? I'd like to be able to have kids some day and for them to go to university and finish debt free. I'd like to buy a house outright.
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cbreef
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#56
(Original post by Trapz99)
Yes, that I agree with. It's insane that some bankers were making huge bonuses even during the financial crisis and when the government had to bail them out.
Thank you.
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_Fergo
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#57
(Original post by cbreef)
Not at all. Human greed is really taking its toll on the world and it's getting out of hand. Seriously what do you with £500,000 every year?
They earned it. They didn't steal it.

It has nothing to do with greed. They've probably trained through hell and are working obscene amount of hours to reach 500k and above.

Just because you can't do it doesn't mean others shouldn't. Jeez.

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cbreef
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#58
(Original post by Jagwar Ma)
I could spend tens of thousands on shoes and suits. I'd like a Rolls Royce, which starts at what, 300k? I'd like to be able to have kids some day and for them to go to university and finish debt free. I'd like to buy a house outright.
Why the hell would you do that? lol
All those things could be paid for on 2 years wages. What about the other 40 years you're working for?
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DetectivePeralta
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#59
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#59
(Original post by cbreef)
Not at all. Human greed is really taking its toll on the world and it's getting out of hand. Seriously what do you with £500,000 every year?
Well after tax it's more like £250k or something like that. That will enable you to live in a relatively large detached or semidetached home in the London suburbs and have a decent car like a a Mercedes C Class and pay for private school fees for two or three children. You could probably take one holiday a year to somewhere exotic.
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Jagwar Ma
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#60
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#60
(Original post by cbreef)
Why the hell would you do that? lol
All those things could be paid for on 2 years wages. What about the other 40 years you're working for?
You get your salary monthly. And remember, you're paying outrageous amounts of tax so you don't see all of that money..
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