I think "we're all in this together" is going to come back and MAJORLY haunt the government... I can see it becoming an ironic slogan for government bull$h!t in decades to come.

Which is exactly why the bulk of deficit reduction needs to come from tax rises on the wealthiest, rather than this Government's mix of massive spending cuts and minimal tax rises which affect the poor as well as the rich (VAT), thus taking demand out of the economy. And the key is to put taxes on land, so that the ridiculous argument that people would flee if there were higher taxes wouldn't apply.

Yes, I can see "WAITT" becoming the coalition's equivalent of "No more boom and bust".

Yes, I can see "WAITT" becoming the coalition's equivalent of "No more boom and bust".

 

Actually, I think it's more their equivalent of "things can only get better"..... :lol:

 

I think the bankers acted the way they did knowing full well that the government would have to bail them out if it all went horribly wrong. That's why we need to go back to a separation between investment banks and high street banks.

 

Agree totally with the second part, I mean, when Nick Leeson did his thing to Barings, it didn't affect us in anyway whatsoever, it only really affected people who were aware of the risks of playing the stockmarket, which is why I reckon it's a bit fukked up that he got put in prison, whereas the likes of Goodwin and Applegarth got away with massive pensions......

 

As for the first, well, broadly agree, but it was never 100% certain, the US House of Congress voted against the bail-out to begin with.... Pity they didn't actually have the courage of their convictions to see it through... But those Democrats did a deal with the devil....

 

There will always be a part of me that wished we'd told the banks to just 'eff-off'.....

^Tempting as that might seem, the world would be a whole lot worse off had the bail-outs not occurred. I have no doubt we would've seen riots from those personally affected by their losses in savings, and without nations across the world doing likewise a fair few bank-supporter-induced coup d'etats.

I love that while they were wanking on about this 'were all in it together' rubbish Osbourne was telling Vodafone they could forget about that pesky £6bn tax bill

This budget is unfair and ill judged in several ways. - Osborne and his littles have a very narrow view of investment in people and in the country. Firstly students and those going into additional training are expected to invest in themselves without the tax deduction of 50% every small business has. Secondly they seem to think 'culture" the humanities and the arts are like wall paper sometimes you can put it on the surface sometimes not. At the same time industry and business complain there are not enough people with foreign language skill - amazing - do the 'littles' think that people learn a language or knowledge about a foreign culture by drinking a liquid - or putting new wallpaper on the wall?

 

Nicholas Serota's letter in the guardian is just one warning of the destructions these quite uneducated people are suggesting. Can you be uneducated and graduate from Oxford - well evidently some can.

^Tempting as that might seem, the world would be a whole lot worse off had the bail-outs not occurred. I have no doubt we would've seen riots from those personally affected by their losses in savings, and without nations across the world doing likewise a fair few bank-supporter-induced coup d'etats.

 

People would be rioting against the banks though.... I mean, it kinda happened on a low-level anyway, Fred Goodwin's home got trashed, a brick was hurled through an RBS branch window during the G20 protests, if the rioting would just have been on a much more massive scale however, indeed the loss of homes and savings might have been the one thing that finally stirred up the Great British Public to go French-rioter-style (dont we all just love what's been going on in France this past week or so....? :D )

 

Now that we've bailed them out, the only thing it's really done is to say to the bank that they can just carry on to do what they want and we'll bail them out regardless, you only have to look at them awarding themselves £7billion in bonuses this year to see that. Basically, we've allowed the banks and the capitalist system to take Democracy hostage....

 

I love that while they were wanking on about this 'were all in it together' rubbish Osbourne was telling Vodafone they could forget about that pesky £6bn tax bill

 

 

What?? You cannot be serious..... <_< I'd like to see the source for this tbh, not that I'm saying you're lying, I just want to read it (assuming it's a newspaper article we're talking about..)

 

This is exactly the point right here I'm making here, the "coalishun" takes billions off of the poor, and let's the rich and the corporations keep theirs.... Add up all the Vodafones and Tescos out there avoiding tax, you'd get a pretty enormous whack of loot that could be used to plug the deficit....

What?? You cannot be serious..... <_< I'd like to see the source for this tbh, not that I'm saying you're lying, I just want to read it (assuming it's a newspaper article we're talking about..)

 

This is exactly the point right here I'm making here, the "coalishun" takes billions off of the poor, and let's the rich and the corporations keep theirs.... Add up all the Vodafones and Tescos out there avoiding tax, you'd get a pretty enormous whack of loot that could be used to plug the deficit....

http://www.thisismoney.co.uk/news/article....mp;in_page_id=2

I've just seen the Young Persons' Question Time which was shown on Wednesday. That woman from The Apprentice made Craig seem positively left wing.

Now that we've bailed them out, the only thing it's really done is to say to the bank that they can just carry on to do what they want and we'll bail them out regardless, you only have to look at them awarding themselves £7billion in bonuses this year to see that. Basically, we've allowed the banks and the capitalist system to take Democracy hostage....

That figures looking more like £10bn now accordin to the paper i was readin today

 

What?? You cannot be serious..... <_< I'd like to see the source for this tbh, not that I'm saying you're lying, I just want to read it (assuming it's a newspaper article we're talking about..)

 

This is exactly the point right here I'm making here, the "coalishun" takes billions off of the poor, and let's the rich and the corporations keep theirs.... Add up all the Vodafones and Tescos out there avoiding tax, you'd get a pretty enormous whack of loot that could be used to plug the deficit....

As serious as a heart attack unfortunately.

 

Quite why they are being let away with this when a single £6bn tax bill could go some way to pay off our supposedly horrific and potentially greece-gate inducing deficit i'll never know.

 

If this deficit is so bad and the need to pay it off is so great i just don't understand why the uber rich and the uber large corporations arent seeing their tax bill increase. Other than the fact that all of the Tory's doners will be made to pay tax, some for the first time. Utter scum.

 

Osbourne and Cameron need to be removed from power IMMEDIATELY.

And now the government look set to sign an agreement to allow the rich to continue to hide their money in Swiss bank accounts. This could cost as much as £40bn in lost income, half the size of the cuts.

 

http://www.guardian.co.uk/business/2010/oc...rland-agreement

And now the government look set to sign an agreement to allow the rich to continue to hide their money in Swiss bank accounts. This could cost as much as £40bn in lost income, half the size of the cuts.

 

http://www.guardian.co.uk/business/2010/oc...rland-agreement

 

This is fukkin' outrageous..... :angry:

 

As an alternative to the frankly hideous public service cuts, are there any particularr reasons why it would be so inconceivable to raise taxes slightly? I'd have thought that a 2p per pound raise in income tax would save a hell of a lot and it would mean people could choose what they want to cut back on rather than having it decided for them.

As an alternative to the frankly hideous public service cuts, are there any particularr reasons why it would be so inconceivable to raise taxes slightly? I'd have thought that a 2p per pound raise in income tax would save a hell of a lot and it would mean people could choose what they want to cut back on rather than having it decided for them.

The simple answer is no but a Tory led government will always be reluctant to increase income tax. Taxes on higher incomes could be raised which would make the rebalancing package more progressive. However, again, Tories like to look after their core voters even though they are the ones least likely to desert the party.

As an alternative to the frankly hideous public service cuts, are there any particularr reasons why it would be so inconceivable to raise taxes slightly? I'd have thought that a 2p per pound raise in income tax would save a hell of a lot and it would mean people could choose what they want to cut back on rather than having it decided for them.

 

A rise in basic rate income tax that hits everyone would be a fairly bad idea at this time, as it would hit consumer spending at a time when the economy desperately needs it (much like the VAT rise). Best to target tax rises at the super-rich, whose spending power wouldn't be reduced.

The simple answer is no but a Tory led government will always be reluctant to increase income tax. Taxes on higher incomes could be raised which would make the rebalancing package more progressive. However, again, Tories like to look after their core voters even though they are the ones least likely to desert the party.

 

This is true as this has always been apparent with a Tory led government. They make a lot of faux promises to the public while their main focus and will always be upper class voters. This tax is unfair and frankly outrageous.

A rise in basic rate income tax that hits everyone would be a fairly bad idea at this time, as it would hit consumer spending at a time when the economy desperately needs it (much like the VAT rise). Best to target tax rises at the super-rich, whose spending power wouldn't be reduced.

 

I wasn't suggesting a uniform cut, more likely a staggered one that doesn't reduce the spending power of the majority.

Bloody hell, never knew about the Swiss Banks, Vodafone situations. This is seriously messed up like...

As if i'd give my money to a swiss bank. Their regulations are tightening under pressure from the EU. If i was minted it'd be all about the Grand Caymans innit.

 

Tesco know where it's at.