November 4, 201311 yr Ah so it's all the Lib Dems fault that we're in such an economic mess, rather than the ol' one-two combo of Tory and Labour policies combined. Riiiiiiight.... obviously theyve been manipulating behind the scenes for the last 30 years.. Wasn't it a certain M. Thatcher that introduced a certain tax called VAT....and Poll Tax...and as I recall she was roundly seen off, unlike the VAT which has stuck (effectively it's another 20% tax on everyone, even those on benefits). Hooray for ignoring that when it's convenient to pretend to be the party of lower taxes eh? Given the debt hasnt actually dropped at all since Smarmy Dave got in, one might have thought keeping taxes on those can better afford it would actually help the country not to get even deeper in the proverbial do do. I believe VAT was dropped to boost the economy by a wise man. It saved us all, of course. Or was that just an election tax boost. Hmmm, I wonder if policies like that might catch on in the future. Ps I'm being sarcastic B-) Just in case it's not obvious.... :lol: A rich person contributes far more to the exchequer by way of VAT than a poor person, you should be in favour of VAT Plus its impossible to evade VAT (as a consumer not a trader) Maybe income tax should be scrapped altogether and VAT rise to 40% or something ;)
November 4, 201311 yr The last point is possibly the most inane thing you've come up with so far. Giving someone £1000, funnily enough, costs more than giving someone £20. 50x more in fact. It's been proven again and again that the poor guy with £20 will spend a higher proportion of his money than the richer one with £1000, which is more likely to be invested and never seen again. The latter is therefore an incredibly good way of draining money out of the economy. Dunno The directors of the company i work for seem to have gone on a spending spree lately 2 bought boats at the Southampton Boat Show, one has an Aston Martin with the latest plates on (he used to drive a Merc)
November 4, 201311 yr Dunno The directors of the company i work for seem to have gone on a spending spree lately 2 bought boats at the Southampton Boat Show, one has an Aston Martin with the latest plates on (he used to drive a Merc) You'll never learn. It's a fairly simple equation. Poor people spend all the money they have because they need to just to keep up with what's seen as a decent life now in a consumption-driven society. Rich people have savings. Do you reckon your directors have more than a few pounds left after those purchases?
November 4, 201311 yr You'll never learn. It's a fairly simple equation. Poor people spend all the money they have because they need to just to keep up with what's seen as a decent life now in a consumption-driven society. Rich people have savings. Do you reckon your directors have more than a few pounds left after those purchases? They probably do, how much i would never dare ask of course But assuming both boats were about 250k each and the aston about 150k thats £650k in 3 purchases and £130k to the exchequer in VAT to help bring down the debt It would take decades for the poor guy to contribute that much to the exchequer
November 4, 201311 yr They probably do, how much i would never dare ask of course But assuming both boats were about 250k each and the aston about 150k thats £650k in 3 purchases and £130k to the exchequer in VAT to help bring down the debt It would take decades for the poor guy to contribute that much to the exchequer "Probably"? Can you not get it into your thick skull that they're a burden on the economy when such a large percentage of their money is inevitably being stowed away in savings never to see the light of day or be put to any decent use?
November 4, 201311 yr A rich person contributes far more to the exchequer by way of VAT than a poor person, you should be in favour of VAT Plus its impossible to evade VAT (as a consumer not a trader) Maybe income tax should be scrapped altogether and VAT rise to 40% or something ;) No they don't. The rich proportionately probably give more than they they make up the population ratio (say, 5%?) but most of the income is paid by those that need to eat, clothe, heat, drink, drive and all the mundane day to day stuff, not the luxury items. VAT hits those with no money equally (if not more) than those with. Rising VAT to 40%, well that should kill tourism dead in the water, great idea! Even more debt.... The Directors of my company havent gone on spending sprees. Theyve been slashing jobs, cutting services to the needy, selling off staff to the bankrupt private sector at cost of millions of pounds to the taxpayer (with no resulting savings, less staff and less efficency, despite media boll**ks spin to the contrary, anyone with access to the facts who speaks out has been sacked and silenced with those "sign it or we'll destroy you financially in court" financial "agreements"). I can't divulge who I work for as it's in my contract and I would be sacked for expressing an opinion. Or fact. Anyone that reads the local paper can probably guess though.
November 4, 201311 yr "Probably"? Can you not get it into your thick skull that they're a burden on the economy when such a large percentage of their money is inevitably being stowed away in savings never to see the light of day or be put to any decent use? There is no proof that the wealthy don't spend heavily, I am sure a good chunk of their wealth is kept in bank accounts or invested on the stock exchange but in terms of funds coming into the exchequer via the retail sector i would be shocked if the majority of it is not from the wealthy Take a typical poor guy - Sky subscription, packet of fags a day, 3 pints of beer a day and £20 bets a week - Sky (£50 a month) fags (£150 a month) beer (£300'a month) bets (£80 a month) - That is £600 a month - £7k a year (£1400 VAT a year) It would take 100 typical poor guys a year to contribute what my directors contributed in VAT buying boats/car So the spending power of a rich guy is far more important to the economic well being of the country than the spending power of the poor
November 4, 201311 yr No they don't. The rich proportionately probably give more than they they make up the population ratio (say, 5%?) but most of the income is paid by those that need to eat, clothe, heat, drink, drive and all the mundane day to day stuff, not the luxury items. VAT hits those with no money equally (if not more) than those with. Rising VAT to 40%, well that should kill tourism dead in the water, great idea! Even more debt.... The Directors of my company havent gone on spending sprees. Theyve been slashing jobs, cutting services to the needy, selling off staff to the bankrupt private sector at cost of millions of pounds to the taxpayer (with no resulting savings, less staff and less efficency, despite media boll**ks spin to the contrary, anyone with access to the facts who speaks out has been sacked and silenced with those "sign it or we'll destroy you financially in court" financial "agreements"). I can't divulge who I work for as it's in my contract and I would be sacked for expressing an opinion. Or fact. Anyone that reads the local paper can probably guess though. A tourist can reclaim the VAT that is spent in the UK In places like Harrods/Marks and Spencer Marble Arch/airports etc tourists can reclaim VAT
November 4, 201311 yr There is no proof that the wealthy don't spend heavily, I am sure a good chunk of their wealth is kept in bank accounts or invested on the stock exchange but in terms of funds coming into the exchequer via the retail sector i would be shocked if the majority of it is not from the wealthy Take a typical poor guy - Sky subscription, packet of fags a day, 3 pints of beer a day and £20 bets a week - Sky (£50 a month) fags (£150 a month) beer (£300'a month) bets (£80 a month) - That is £600 a month - £7k a year (£1400 VAT a year) It would take 100 typical poor guys a year to contribute what my directors contributed in VAT buying boats/car So the spending power of a rich guy is far more important to the economic well being of the country than the spending power of the poor Setting aside the alarming prejudices apparent in that last post for just a second, you still don't seem to be able to grasp that it's the proportion going back in rather than the gross that counts. You're simply demonstrating why flat tax rates are a horrendous idea. Personally I don't see why the Tories don't have a 100% inheritance tax if they're so obsessed with people earning their money.
November 4, 201311 yr My post was about people who were paying 50% tax and then got awarded 5p cut, which the tories wanted to make 10p but Lib Dems vetoed ALL taxation is far too high in this country But i do feel that it is a necessary priority taxation wise to cut the top rate not just from 45p to 40p but beyond that, giving the wealthy and wealth creators more money should feed its way back into the High St with increased spending Giving a poor guy an extra £20 a week in his pocket is very noble and a worthwhile aim but he wont spend as much in the shops as someone with an extra £1000 a week in his pocket How is that a response to what I said? The Lib Dems were absolutely right to veto abolishing the top rate altogether. I wish they had held out and insisted on keeping it at 50p. Now try explaining the highlighted rubbish to a group of low paid workers. You may struggle to avoid spending the following night in a hospital bed. Or a morgue.
November 4, 201311 yr A tourist can reclaim the VAT that is spent in the UK In places like Harrods/Marks and Spencer Marble Arch/airports etc tourists can reclaim VAT ah, the rich getting bargains again, eh? Sounds like an ideal target to close that loophole then, most countries only allow citizens to purchase nominal amounts abroad before they get taxed, eg UK citizens. Unless of course you're in favour of people LYING when they return home and pop through customs with nothing to declare.... I know when I order DVD's from the USA the limit is about £18 VAT free, yet someone can holiday here and we don't charge any VAT? If only other countries were so generous....
November 4, 201311 yr Setting aside the alarming prejudices apparent in that last post for just a second, you still don't seem to be able to grasp that it's the proportion going back in rather than the gross that counts. You're simply demonstrating why flat tax rates are a horrendous idea. Personally I don't see why the Tories don't have a 100% inheritance tax if they're so obsessed with people earning their money. My examples were meant purely tongue in cheek but I used them to highlight the gross amount
November 4, 201311 yr How is that a response to what I said? The Lib Dems were absolutely right to veto abolishing the top rate altogether. I wish they had held out and insisted on keeping it at 50p. Now try explaining the highlighted rubbish to a group of low paid workers. You may struggle to avoid spending the following night in a hospital bed. Or a morgue. I would explain to them that their boss if he was taxed too much would up sticks and move to another country or move their operations to India leaving them all on the dole Over taxing entrepreneurs is a sure way of costing jobs
November 4, 201311 yr ah, the rich getting bargains again, eh? Sounds like an ideal target to close that loophole then, most countries only allow citizens to purchase nominal amounts abroad before they get taxed, eg UK citizens. Unless of course you're in favour of people LYING when they return home and pop through customs with nothing to declare.... I know when I order DVD's from the USA the limit is about £18 VAT free, yet someone can holiday here and we don't charge any VAT? If only other countries were so generous.... I never buy genuine stuff abroad in the first place, I go to Thailand anually where i tend to buy a fake Rolex or Hublot (trust me its hard to tell the difference from the original, loads of computer software for 1/20th of the UK price, and shitloads of 'designer' clothing I would recommend a visit to the MBK Centre in Bangkok you would save thousands
November 4, 201311 yr I thought we'd dispelled this myth that company directors (categorically not the same thing as entrepeneurs) would leave quite so easily. Stick it up to 60p and clamp down on tax loopholes, employing someone to do the latter earns far more than it costs.
November 4, 201311 yr I thought we'd dispelled this myth that company directors (categorically not the same thing as entrepeneurs) would leave quite so easily. Stick it up to 60p and clamp down on tax loopholes, employing someone to do the latter earns far more than it costs. http://www.bbc.co.uk/news/business-19626188 http://www.businessweek.com/articles/2013-...-pain-isnt-over They are leaving in droves in France, same would happen here i suspect
November 4, 201311 yr I never buy genuine stuff abroad in the first place, I go to Thailand anually where i tend to buy a fake Rolex or Hublot (trust me its hard to tell the difference from the original, loads of computer software for 1/20th of the UK price, and shitloads of 'designer' clothing I would recommend a visit to the MBK Centre in Bangkok you would save thousands ah well at least you're giving (very low paid) jobs to the needy in the far east workshops, at the expense of the people who copyright and invent them in the first place. Entrepreneurs I think they're called ;)
November 4, 201311 yr ah well at least you're giving (very low paid) jobs to the needy in the far east workshops, at the expense of the people who copyright and invent them in the first place. Entrepreneurs I think they're called ;) Its all good brand awareness :) Microsoft and Adobe and Rolex etc i am sure are fully aware of MBK etc but turn a blind eye as it is brand awareness and getting their name out there, loss leading so to speak
November 4, 201311 yr http://www.bbc.co.uk/news/business-19626188 http://www.businessweek.com/articles/2013-...-pain-isnt-over They are leaving in droves in France, same would happen here i suspect Excuse me while I sob about the second article, it's so heartbreaking what these millionaires have to put up with.
November 4, 201311 yr Excuse me while I sob about the second article, it's so heartbreaking what these millionaires have to put up with. I am sure they will survive Whether the employees who lost their jobs will is a different matter
Create an account or sign in to comment