[Moissanite]

Very important for people to understand this. For high earners (100-200k), marginal tax rates can already pass 60%. That is an income which is locally considered very high but compared to our Atlantic cousins is somewhat more normal.

I will be thousands of pounds worse off per year under the new tax plans, but I'm OK with that because I understand that it is necessary. However, we are rapidly approaching most people's tolerance limit in this regard; unless the next government does a very good job of tackling economic injustice it feels like people will just give up - at which point the only way is down.

Now, what "give up" really looks like is key - I feel like widespread civil unrest is far closer than most people realize, but before that there will be a further decline in social cohesion. Right now it feels like this story is being masked by the Ukraine situation.

[midasuni]

Becaus of the “high income child tax” and student loan repayments marginal tax rates at just 50k hit 70%. They drop again at 60k, but it’s tricky to justify working extra hard for a £5k pay rise when you only keep £2k of it.

Doesn’t help that you can’t file jointly in the U.K. either.