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Wealthy Britons pay 10% more in tax
Comments
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What was the budget deficit during that period?
What's your point? Anyone with any economic sense knows that you should be controlling finances during the good times so you don't need to slash them during the crash. If a 50% tax rate is enough to actually decrease tax income then it makes no difference what the current economic situation is it would still make sense to drop the tax rate to the optimal point.Having a signature removed for mentioning the removal of a previous signature. Blackwhite bellyfeel double plus good...0 -
What's your point? Anyone with any economic sense knows that you should be controlling finances during the good times so you don't need to slash them during the crash. If a 50% tax rate is enough to actually decrease tax income then it makes no difference what the current economic situation is it would still make sense to drop the tax rate to the optimal point.
Not proven as I explained in an earlier post.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
So you work really hard, earn 20k, live like a monk and save 10k out of your net salary at 0% interest.
You do it again the next year.
At what point should the govt decide that they should start taking away a proportion of your savings each year?
50k in savings (5 years), 100k (10 years)?
When you decide to move it to a Mediterranean bank of convenience?
You - of course - then come under the jurisdiction of the Bundesbank
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What's your point? Anyone with any economic sense knows that you should be controlling finances during the good times so you don't need to slash them during the crash. If a 50% tax rate is enough to actually decrease tax income then it makes no difference what the current economic situation is it would still make sense to drop the tax rate to the optimal point.
No UK government has created a wealth fund even when we were net oil exporters. They always live on the edge of the rug.
If a marginal tax increase/or decrease is telegraphed in advance I am not surprised that those with means will adjust their income to compensate."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 -
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Thrugelmir wrote: »The country was contributing tax out of borrowed money. Consumer driven growth could never last. And eventuality it didn't.
whatever do you mean : what is wrong with 'consumer driven ' growth?
the sole purpose of economic enterprise is to consume
investment is simply delaying immediate consumption so you can have more later.0 -
whatever do you mean : what is wrong with 'consumer driven ' growth?
the sole purpose of economic enterprise is to consume
investment is simply delaying immediate consumption so you can have more later.
And now we are left with unsustainable levels of debt. So consumption will fall. As debt is repaid.
The consequence of which will lower tax revenues.0 -
whatever do you mean : what is wrong with 'consumer driven ' growth?
Is their a difference between investment/consumer growth that adds value for necessary purchases rather than investment/consumption in "unnecessary"/readily disposable, superseded items? Especially if it is being financed through debt that can't be serviced."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 -
Thrugelmir wrote: »And now we are left with unsustainable levels of debt. So consumption will fall. As debt is repaid.
The consequence of which will lower tax revenues.
if you meant 'debt driven ' then OK but 'consumer driven' doesn't really apply0
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