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Tax and Spend - who pays?
Comments
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1. Didn't pay for my education...I wasn't that privileged!
Oh yes you were! You just don't know how privileged you were that’s all, do you think education is free in all other parts of the world?
Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
I found an interesting piece in City am:
http://www.cityam.com/article/everyone-must-learn-pay-their-way
The North East, Wales and Northern Ireland spend more than double than they raise in taxes. No wonder most of the North is so keen on Socialism, they don't pay for it!
As a Mortgage Free, pretty well off Londoner I have no problem with any of that
What's the alternative - to become like Monaco? I guess NYC must contribute a lot to the US's GDP and Sydney to Australia's?
Interesting article here from Stephanie Flanders
Should Britain let go of London?
http://www.bbc.co.uk/news/business-219345640 -
chucknorris wrote: »Oh yes you were! You just don't know how privileged you were that’s all, do you think education is free in all other parts of the world?
No... do you? Wasn't talking about the rest of the world actually.....and I don't take the welfare state we have for granted...that's my very point...today of all days!0 -
No... do you? Wasn't talking about the rest of the world actually.....and I don't take the welfare state we have for granted...that's my very point...today of all days!
Of course I don't that is why I took the time to point out your error.
I see that you deleted your reference to me being a fascist, no need to respond then.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
setmefree2 wrote: »As a Mortgage Free, pretty well off Londoner I have no problem with any of that What's the alternative - to become like Monaco? I guess NYC must contribute a lot to the US's GDP and Sydney to Australia's?
Interesting article here from Stephanie Flanders
Should Britain let go of London?
http://www.bbc.co.uk/news/business-21934564
Maybe the current welfare reforms will encourage some entrepreneurship and a little more self reliance.
Sydney does subsidise other parts of Australia and NYC other parts of the US. It's not the principle as much as the extent of it. About as much of the NE's GDP comes from Government spending as in Czechoslovakia under communist rule. As much as anything else, it leaves places like the NE and Wales very vulnerable should London and the SE become unable or unwilling to continue the subsidy.0 -
Maybe the current welfare reforms will encourage some entrepreneurship and a little more self reliance.
Sydney does subsidise other parts of Australia and NYC other parts of the US. It's not the principle as much as the extent of it. About as much of the NE's GDP comes from Government spending as in Czechoslovakia under communist rule. As much as anything else, it leaves places like the NE and Wales very vulnerable should London and the SE become unable or unwilling to continue the subsidy.
The government could of course make efforts to distribute the spoils. I am sure that there are many willing. capable, educated and capable people both in the the "dependant zones" and that would prefer to be in them, rather than the glorious SE."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 Muruganantham0 -
I like socialism and I'm not poor now....I just remember things like seeing the quality of my father and grandfather's lives working in the coal mines in Wales prior to their early deaths. Its called empathy.
I guess you must idolise Maggie Thatcher who allowed the coal mines to close when they become economically unviable thus saving the following generations from that life of toil and early death against the wishes of the unionists who were quite happy to condemn those who paid their fat cat salaries to such short and unpleasant lives.I think....0 -
grizzly1911 wrote: »The government could of course make efforts to distribute the spoils. I am sure that there are many willing. capable, educated and capable people both in the the "dependant zones" and that would prefer to be in them, rather than the glorious SE.
The govt are very successfully taking the spoils from me to spend elsewhere - in fact if I salary sacrifice my pay down to minimum wage I will end up about 20k net worse off after tax credits, child benefit, tax and NI but be able to add 54k to my pension. I choose to do so of course the govt will be 34k worse off. I.e. raise taxes too high and the govt makes the incentive to avoid them extreme and brings in less tax altogether. Thus in the end trying to use redistribution to share out the pie 'more fairly' ends up with a pie so much smaller that not only do the better off get less but the worse off get less too. Of course according to measures like 'poverty' things have improved as the income distribution has closed up.
Lets ask benefit recipients, would they prefer: £75 per week which was 10% of average weekly earnings or £50 per week which was 50% of average weekly earnings?I think....0 -
The govt are very successfully taking the spoils from me to spend elsewhere - in fact if I salary sacrifice my pay down to minimum wage I will end up about 20k net worse off after tax credits, child benefit, tax and NI but be able to add 54k to my pension. I choose to do so of course the govt will be 34k worse off. I.e. raise taxes too high and the govt makes the incentive to avoid them extreme and brings in less tax altogether. Thus in the end trying to use redistribution to share out the pie 'more fairly' ends up with a pie so much smaller that not only do the better off get less but the worse off get less too. Of course according to measures like 'poverty' things have improved as the income distribution has closed up.
Lets ask benefit recipients, would they prefer: £75 per week which was 10% of average weekly earnings or £50 per week which was 50% of average weekly earnings?
I wasn't really thinking of tax distribution, directly, but encouraging movement of business to the outer zones so that work opportunities are available at living wages in order that the SE doesn't have to "subsidise" them [so much].
Of course that would probably make the SE less wealthy but then they wouldn't need to pay so much tax.;)"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 Muruganantham0 -
chewmylegoff wrote: »Is it really possible to calculate regional numbers in a meaningful way? If Bank A makes £5 billion by lending money to people in Wales and Northern England, and then pays £4 billion in bonuses taxed at 50% to London based staff is it really accurate to then say that London contributed £2 billion of tax and the regions contributed nothing?That's not the reality of how things work though. While some money will be channeled to head office, much of it is spent locally on staff, office space etc.
Also, not all banks are headquartered in London: some of Britain's most successful banks like RBS, Northern Rock and Bradford and Bingley have HQs outside London.
Chewie is right on that point.
Why not take it a step further and say London caused all the debt that we are all paying back but is affecting London the least.0
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