Debate House Prices


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Government Revenue

HAMISH_MCTAVISH
HAMISH_MCTAVISH Posts: 28,592 Forumite
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in Debate House Prices & the Economy
uk-taxes-vs-trend1.png

All that tax revenue lost, despite tax rates having risen, and all because they thought you could cut your way out of a recession....
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
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Comments

  • grizzly1911
    grizzly1911 Posts: 9,965 Forumite
    HAMISH_MCTAVISH wrote: »
    uk-taxes-vs-trend1.png

    All that tax revenue lost, despite tax rates having risen, and all because they thought you could cut your way out of a recession....

    I wonder what the trend path would look like if you stripped out all the false banking profits, the frenzied housing activity at ever more silly prices, unnecessary government overspend etc.
    "If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....

    "big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    Combo Breaker First Post
    I don't think one can reasonably conclude that the dip in 2008 was due to 'cuts'
    it probably had something to do with the collapse of the banking system and its consequences.
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    First Post First Anniversary Combo Breaker
    HAMISH_MCTAVISH wrote: »

    All that tax revenue lost, despite tax rates having risen, and all because they thought you could cut your way out of a recession....

    So nothing to do with the biggest financial crisis since the 20's then?

    Tax receipts also rose until start of last year. Start of last year we were in recession again.

    I don't think it's particularly shocking to suggest tax receipts fall when in recessions.

    If it's all about austerity how on earth do you cater for 2001-3?
  • Fella
    Fella Posts: 7,921 Forumite
    Combo Breaker First Post
    Is that trend path based on it keep coming in Red when you spin the wheel? I think we've proven that trend isn't sustainable..
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
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    CLAPTON wrote: »
    I don't think one can reasonably conclude that the dip in 2008 was due to 'cuts'
    .

    Dip in 2008 due to global financial crisis.

    Abject failure to recover since then however, is entirely on our politicians and their idealogical cuts.

    While some other countries have taken a different path and spent their way into recovery....
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • grizzly1911
    grizzly1911 Posts: 9,965 Forumite
    edited 13 March 2013 at 9:03PM
    HAMISH_MCTAVISH wrote: »
    Dip in 2008 due to global financial crisis.

    Abject failure to recover since then however, is entirely on our politicians and their idealogical cuts.

    While some other countries have taken a different path and spent their way into recovery....

    Are we alone in having that problem?

    Which country has spent their way to real prolonged recovery?

    Edit:- from duplicate post

    Don't suggest the USA it is basket case too. Just remind me how many are on welfare stamps if you do rely on it. You can also tell me how much further in debt it is with DERV PROF's US debt clock, I provided you with, too.
    "If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....

    "big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
  • coastline
    coastline Posts: 1,661 Forumite
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    edited 13 March 2013 at 10:36PM
    There doesn't seem to be a great increase in income tax receipts over the last few years despite David Cameron saying they've created 1m more jobs in 2 years.

    Looking at this link...2010-11 its £153.49bn and 2011-12 its £150.93bn...this years forecast is £154bn ??
    A quick guess ...28m working raises £150bn thats £5.4bn per 1m workers...
    Surely it can't be all down to an increase in the tax code...on £20,000 a year you'd still pay over £2,000 income tax.
    Then you can add in the 50% tax bracket that they said wasn't paid...the 2013 forecast which is the same as 2010-11 seems very low....

    http://www.hmrc.gov.uk/statistics/receipts/info-analysis.pdf
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    grizzly1911 wrote: »
    Are we alone in that having that problem?

    Which country has spent their way to real prolonged recovery?

    Germany at a guess.
  • grizzly1911
    grizzly1911 Posts: 9,965 Forumite
    meljm2 wrote: »
    the goverment needs to buil;d more houses for young people but greedy VI speculatirs wont let them

    Why just young people?

    Old people need homes too. Not everyone is, can be or wants to be a home owner.
    "If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....

    "big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
  • Generali
    Generali Posts: 36,411 Forumite
    Combo Breaker First Post
    HAMISH_MCTAVISH wrote: »
    uk-taxes-vs-trend1.png

    All that tax revenue lost, despite tax rates having risen, and all because they thought you could cut your way out of a recession....

    It looks to me like the trend for tax revenues to increase went back to trend after the Tories got in, albeit from a lower level, as the line goes back to moving parallel with the trend line.

    It's quite difficult to draw any conclusions really however as the trend line doesn't take into account any other periods of economic difficulty.
This discussion has been closed.
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