The pay back

purch

(Just an example, obviously not correct!!).

It's good to see an example of the way Devonian Economics work

Graham_Devon

Active_X wrote: »

You know, it's not hard to use google to check if your talking rubbish, and believe me when I say that you are. The UK has some of the lowest taxes in Western Europe. Your proposition that the Spanish only pay income tax and council tax is laughable.

It's good google, aint it. Maybe you should use google to check the difference between an example made plainly clear, and a proposition?

purch

What I'd like to see is a wholescale restructure of tax so that we can abolish tax credits by simply rebasing allowances and tax rates so that the poorest don't pay tax at all

It is many years since Fatty Lawson 'promised' a more streamlined, fairer and simplified Tax system during his last budget speech.

Since then the whole system has got less streamlined and more complicated, and definately less fair.

The current funding situation should give whoever forms the next Government a perfect opportunity for a radical rethink and eventual overhaul of the Tax system in this country.

Of course what will actually happen is that they will increase a few Tax rates, and make the whole system even more complicated and even less fair :eek:

Active_X

Graham_Devon wrote: »

It's good google, aint it. Maybe you should use google to check the difference between an example made plainly clear, and a proposition?

But your proposition is nonsense and does not exist in reality. You might as well state that Martians pay less than 'rip off UK' and get 200% better services than we do. Go on, you could really wind yourself up with your imaginary 'better world', you could gripe on that the Martians have high speed bullet trains that only cost the equivalent of 10p to travel from one side of the planet to the other. Gas, Water and Electricity are all free and the Martians only have to work 10 hrs per week for 10 times the UK national average wage. You could really lambast 'rip off Britian' compared with the martians, but you'll have forgotten that you've made it all up and it therefore isnt true.

Your just not very bright are you?

BusPass_2

Interesting thread.

For years I have been interested in a succession of governments declaring that ' we will not raise basic income tax rates' then promptly increase NI so that the lines have almost become blurred.

Now that the population is ageing and NI contributions stop at retiral age (a lot of women work after 60 and an increasing number of men are seeking to work after 65) the loading of NI contributions has backfired. Total tax and NI take must be down.

If basic tax rates had gone up over the years we would not be in this position of needing a 7p rise to balance the books.

Anyone got any thoughts on this theory?

IveSeenTheLight

Just taking your quote since no link was provided

The National Institute of Economic and Social Research (NIESR) said the retirement age should be raised to 70 if debt levels are to fall by 2015.

Alternatively, the government would have to raise the basic rate of income tax by 7p in the pound, it argued.

There is already started the process of increasing the retirement age.
Does this mean the alternative is just for comparison purposes?

purch

I think only the 7 button was working on their keyboard, so it could only be 70 or 7p !!!!

IveSeenTheLight

purch wrote: »

I think only the 7 button was working on their keyboard, so it could only be 70 or 7p !!!!

There is a link on the right hand side under latest MSE news

http://www.moneysavingexpert.com/news/protect/2009/10/income-tax-may-need-to-rise-by-7p-report-warns?utm_source=forum&utm_medium=sidebar&utm_campaign=box

Interestingly for Thruglemir, I see no reference to CGT changes

StevieJ

BusPass wrote: »

Interesting thread.


If basic tax rates had gone up over the years we would not be in this position of needing a 7p rise to balance the books.

Anyone got any thoughts on this theory?

Yes, don't believe all you read sounds like a softening up excercise to me.

BTW the much respected think tank are not the best at forecasts :rolleyes:

Feb prediction

The National Institute of Economic and Social Research is predicting the UK economy will shrink until the fourth quarter of this year, contradicting the Chancellor’s optimistic forecast for the economy to come out of recession in July.

June prediction

The economy hit bottom in March and returned to growth in April and May, says the NIESR. The growth is minimal - 0.2 per cent in April and 0.1 per cent in May - but if the figures are accurate, it means Britain is coming out of recession months before Chancellor Alistair Darling predicted.

neas

Active_X wrote: »

But your proposition is nonsense and does not exist in reality. You might as well state that Martians pay less than 'rip off UK' and get 200% better services than we do. Go on, you could really wind yourself up with your imaginary 'better world', you could gripe on that the Martians have high speed bullet trains that only cost the equivalent of 10p to travel from one side of the planet to the other. Gas, Water and Electricity are all free and the Martians only have to work 10 hrs per week for 10 times the UK national average wage. You could really lambast 'rip off Britian' compared with the martians, but you'll have forgotten that you've made it all up and it therefore isnt true.

Your just not very bright are you?

Quoted for truth... very good post