Former President Clinton is right to make these warnings

I don't know that, in the same way that you don't know their outgoings will be higher.

Clearly they will have a nice house and a decent sized mortgage based on that income
 
Clearly they will have a nice house and a decent sized mortgage based on that income

Not neccesarily. If they are on that sort of money I think it's reasonable to assume they got onto the property ladder what 10-15 years ago at least when houses where a fraction of what they cost now. Say both parties where single for a while, both owned their own properties and met later in life and started a family. That's a lot of money you could pool together if you sell both properties in circumstances like that.
 
Not neccesarily. If they are on that sort of money I think it's reasonable to assume they got onto the property ladder what 10-15 years ago at least when houses where a fraction of what they cost now. Say both parties where single for a while, both owned their own properties and met later in life and started a family. That's a lot of money you could pool together if you sell both properties in circumstances like that.

As a thirty year old with a circle of friends that include a few on six figures, I don't think it is reasonable at all to suggest that they;

-Got on the property ladder whilst doing their A-Levels or degree
or
-Stayed in the same house.

People's outgoings rise in line with their income. It is an observable and endlessly repeatable study.
 
As a thirty year old with a circle of friends that include a few on six figures, I don't think it is reasonable at all to suggest that they;

-Got on the property ladder whilst doing their A-Levels or degree
or
-Stayed in the same house.

People's outgoings rise in line with their income. It is an observable and endlessly repeatable study.

What percentage of the population do you think you and your friends represent though?

£40k+ earnings would put you for starters in the 12% of this countries earners, 3 figures and you'll enter the 1%.

Now people I know who are on £30-£40k now who don't live in the bubble that is London, started at perhaps £8-£10k in the early 90's and progressed upto around £30k-£40k in the space of 20 years. And the people I know live in the South East.

EDIT :

You and you friends sound fairly privelleged I would argue, job I had in London for many years didn't pay anything like the sort of figures your eluding to.
 
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What percentage of the population do you think you and your friends represent though?

No idea but this;

Now people I know who are on £30-£40k now who don't live in the bubble that is London, started at perhaps £8-£10k in the early 90's and progressed upto around £30k-£40k in the space of 20 years. And the people I know live in the South East.

Doesn't match anyone I know- as graduates we generally started on reasonable salaries (myself included until I moved into writing anyway) with the brilliant (and lucky) ones on a steeper climb than the median. So at best, neither example is "right" or "typical."
 
No idea but this;



Doesn't match anyone I know- as graduates we generally started on reasonable salaries (myself included until I moved into writing anyway) with the brilliant (and lucky) ones on a steeper climb than the median. So at best, neither example is "right" or "typical."

I'm a little bit older than you, 37. Back when I started work it was a bit easier to get your foot in the door without a degree I would say, you had a similar situation to today. Lots of people going on work placements due to the recession. I'd say by about your age a degree was becoming more of a must have, at least that was the case where I worked :)
 
Without children the most an adult can claim in work is about £50 a week working tax credit, once you earn above around £6k a year that's figures on a sliding scale.

Now I think it's reasonable to make the statement I've made because, even with the change in regulation you can still have two earners in a family with about £75-£80k household income coming in and claim what £46 a week in child benefit if you have 3 children. I should have mentioned I was factoring in child benefit

Now I'd argue the person without kids like myself needs that £50 more than the person with kids and that level of household income needs £46. I've basically come to the conclusion, your pretty knackered in my position unless you can find work paying upwards of £20k a year. You won't be able to differentiate between working and being out of work.


Broadly in agreement with you there.

On the subject of Child benefit, I think it should be scrapped altogether.

The fact that it can be claimed by couples in the top 10% of earners is rediculous.

I already pay more pro rata for my council tax than any couple and I resent paying high taxes so that the state can give a family a child allowance (not to mention all the other benefits) handout to help them along whether they need it or not.

How about an allowance for working single peeps without children sometime.:rolleyes: We're doing our bit to stem the global population crisis that is rapidly approaching.:D
 
How about an allowance for working single peeps without children sometime.:rolleyes: We're doing our bit to stem the global population crisis that is rapidly approaching.:D

Your just a cash cow for the rest of society in this country. I never minded when I was earning above average salary because the money was their for me to be taxed and have a reasonable life for myself and put other peoples kids through school.

No more for me, I'll go out of my way to contribute as little as possible from now on. Keep my earnings below the tax threshhold where possible :smashin:

They are not exploiting me anymore :smashin:
 
How about an allowance for working single peeps without children sometime.:rolleyes: We're doing our bit to stem the global population crisis that is rapidly approaching.:D

We should be getting a free car like India :)

£9k a year to educate a child on average.
 
£9k a year to educate a child on average.

:eek:


Maybe those with kids should have a tax code that starts with a 1 and not a 7:devil:
 

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