A Quote by Lenny Henry
When you've lived in a country for 50 years and you pay your tax, you have a pension and insurance, you've raised a family and sent your kids to uni. To get to an age and be told you don't belong here and you have to go back to where you come from is really saddening and infuriating.
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If you've been frugal during your life and tried to save, you're penalised by the tax system. You pay tax on your wages, your savings and even your private pension.
Your greatest asset is your paycheck. Disability insurance protects you and your family if you are unable to work by providing income which will help pay your bills and take care of your family. It's just as important as life insurance.
You, as a wage earner have to pay your taxes every year on your income for that year. So if you have a one-time windfall that makes you a lot money you could end up in the top tax bracket. But if you're a corporation you are allowed to reach forward with deferrals for years. Over a 45 to 50 year period, you can balance out the winning years and the losing years in such a way that you pay very little tax, especially considering the time-value of the money.
People who put money in the church basket and people who go to church and pay the pastor: that isn't real philanthropy; that's just like you belong to a country club. You pay your dues to belong to that church, so you pay your tithing or whatever it is.
But we are not going to stand by and go back to allowing people with preexisting conditions to be discriminated against, go back to the situation where people can be thrown off their insurance simply because they become seriously ill or you can't get on your parents' insurance after the age of 20.
It's no go the picture palace, it's no go the stadium,
It's no go the country cot with a pot of pink geraniums.
It's no go the Government grants, it's no go the elections,
Sit on your arse for fifty years and hang your hat on a pension.
When you say the tax system benefits the rich, there are a lot of people who respond, "That can't be true, look at the rate of tax. The people who are rich pay a higher rate than you or I." Well, yeah, but if you don't have to pay taxes on a lot of your income, then your real tax rate is a lot lower. And if you're allowed to pay your taxes thirty years from now instead of today then you're a lot better off. People need to have a sophisticated understanding of how the system works to appreciate that the posted tax rate really has very little to do with the taxes people pay.
My parents live there, and I was born and raised in Scotland. I lived there for the first 11 years of my life, until my parents decided to take our family to France where we lived for a couple of years. We then moved back to Scotland, and that is where I feel most home - where I come back to myself, and I love more than I can say.
Remember life insurance is intended as income replacement to help dependents and or/spouse pay for things that your income would have covered. When you get to the point that you're dependents (Your kids mostly) aren't dependent on your income, you could reduce the amount of life insurance you are carrying.
You have to sacrifice time with your family, your time as a teenager. You don't experience life like any other, outside of football. When you go to uni, you can't live the uni lifestyle. But I've never, ever thought about quitting football.
I bought an insurance policy covering the inheritance tax my kids will have to pay when we die, which I thought was a good bit of forward thinking. And I always know I'm going to have enough for tax because I make sure I keep it back in my business account.
I'm talking to a lot of my industry to maybe try to create a guild and coalition where people, when they retire, would get a pension. We pay taxes through the years, we pay for unemployment, but we don't have a pension.
Senior executives can, after a fashion, get a portion of their pay tax-free. You defer part of your income and not have to pay taxes on it, and then when you retire you have the company buy a life insurance policy on you using that money. The company can deduct that money because it is a business expense, and the money will get paid out to your children or grandchildren when you die, so you have effectively given them your money and it's never been taxed.
Here's the truth. The proposed top rate of income tax is not 50 per cent. It is 50 per cent plus 1.5 per cent national insurance paid by employees plus 13.3 per cent paid by employers. That's not 50 per cent. Two years from now, Britain will have the highest tax rate on earned income of any developed country.
There is the general belief that the corporation income tax is a tax on the "rich" and on the "fat cats." But with pension funds owning 30% of American large business-and soon to own 50%-the corporation income tax, in effect, eases the load on those in top income brackets and penalizes the beneficiaries of pension funds.
For West is where we all plan to go some day. It is where you go when the land gives out and the old-field pines encroach. It is where you go when you get the letter saying: Flee, all is discovered. It is where you go when you look down at the blade in your hand and the blood on it. It is where you go when you are told that you are a bubble on the tide of empire. It is where you go when you hear that thar's gold in them-thar hills. It is where you go to grow up with the country. It is where you go to spend your old age. Or it is just where you go.
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