Certified Financial Planner. Independent Financial Adviser. Retirement Planning, Investment Management and Estate Planning. Posts are personal, and not advice.
Maidenhead
Joined December 2009
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Sorry but if the rest of us are paying for those benefits, it’s up to them to claim them, and there is lots of support out there to do so.
Then they are entitled to other benefits
Lots of people may have the state pension as their only income, but that doesn’t mean it’s all they survive on
I advise lots of millionaire pensioners whose only income is the state pension
I have a problem with age based taxation
And with ever more complexity in our tax system
As a financial adviser to wealthy pensioners I will be able to engineer that some very wealthy people appear in poverty in order to gain a higher personal allowance
Nothing Miriam said or I’m saying by sharing her post, suggests a problem paying state pension to pensioners
David Hearne, CFP™ retweeted
Why should a pensioner on a £13K income be exempt from income tax when a person of working age is not? Those of working age do not receive free travel or all sorts of other discounts to which pensioners are entitled. We do not exempt people from tax based on how many dependents they have, or how much housing in their area costs, so why exempt individuals based on age?
John Healey, the chancellor, is expected to announce a 3.9 per cent rise to the full state pension while protecting those on lower incomes from income tax thetimes.com/uk/politics/art…
David Hearne, CFP™ retweeted
Ahead of John Healey's first Budget, a reminder that companies don’t pay tax - people do. And that also applies to energy suppliers and to banks.
In more technical terms, companies are only legal entities and cannot bear the economic burden of tax themselves. Tax increases are therefore always passed on to real people.
Shareholders will bear some of the cost through lower profits and dividends, although many 'ordinary' people own shares through their pension funds.
But customers will also pay through higher prices, while employees will face lower wages.
Everyone may lose if companies cut jobs and investment or move activity overseas.
So, whenever someone says, “companies should pay their fair share” or “tax banks, not workers”, ask them where the money will really come from… 🤔
David Hearne, CFP™ retweeted
Thomas Sowell grew up poor in Harlem and spent his twenties as a Marxist. A job inside the federal government ended that. Asked what changed his mind, he gave a one-word answer: "facts."
Chicago sharpened the habit, with Milton Friedman teaching him, and he carried it through more than 45 books and a column in over 150 newspapers. From housing to the minimum wage, he checked what policies did and ignored what their authors promised.
His most famous line sits in A Conflict of Visions: "There are no solutions. There are only trade-offs." Politicians hate that sentence because it puts everyone selling solutions out of work. Every program has a price, and voters rarely pay it.
Sowell lived by it. When the Reagan administration put him on an economic advisory committee, he resigned after the first meeting. He pointed to Friedman's view that some individuals "contribute more by staying out of government."
He retired from writing in December 2016 at 86 and turned 96 this June. His method fits on an index card: skip the promises, check the results.
Now go ahead and do that with your local ruling class.
It’s a global commodity, but if one country charges more tax, you will get less supply from that country.
The tax in one country alone won’t move the global price but it will move where supply comes from
David Hearne, CFP™ retweeted
Most tax calculators tell you how much tax you pay *now*. Ours also shows how much tax you'll pay on your next £1. Your marginal rate.
We'll be publishing straight after the Budget. But here's a preview - I'd love to get feedback.
taxpolicy.org.uk/uk-tax-calc…
Exactly. I remember learning about supply and demand curves in term one of an economics AS level. This should be basic stuff for an MP charged with making decisions on this stuff
That looks ideal. Done a few 50km this year and I’ve got my first 50 mile in the Lake District next summer called the Lakeland50
And I’ve got a UTMB 50k in Cornwall in January as part of my training
Ask me after them whether I want to do it again in Scotland!
You do
But most people on £99k don’t get to £500k
If you are you suck it up and get through it
Just like people on £60k have to accept they’ll lose child benefit on the way to £100k
But it’s those who are already near their maximum or already working too many hours or don’t have enough years ahead of them who may decide to just stop at £99k and get some time back instead
Increase taxes and you reduce supply at a given price
Because they’re not going to go to the effort of supplying without a profit
So prices have to rise
Doesn’t matter whether it’s input costs, labour costs, tax costs, any increase in costs will push up prices
Nope, that’s not how taxes and price works. The price is determined by demand and supply.
Companies charge the highest price they can given demand. A tax levied on *profits* does not affect a company’s cost ie supply.
Taxes on *windfall* profits (like oil and gas) are the most efficient kind of tax there is.
Readers added context they thought people might want to know
Corporate profit taxes do not directly shift marginal costs but empirical studies show partial pass-through into higher consumer prices. Windfall taxes on oil and gas have deterred investment and production in practice despite theoretical efficiency on rents.
dadun.unav.edu/server/api/cor…
ecb.europa.eu/pub/pdf/scpwps…
taxfoundation.org/blog/big-oil-p…
scottishfinancialreview.com/2025/09/03/win…
