tahoma Posted July 15, 2011 Share Posted July 15, 2011 It would be a relief if they did this; it would take an awful lot of uncertainty out of every day life. We would at least know then that we are totally screwed, and there is absolutely no point trying to work our way out of it because the money will be taken off you and doled out to people who actually believe you exist for their sake. When you see that in order to produce, you need to obtain permission from men who produce nothing; when you see that money is flowing to those who deal not in goods, but in favors; when you see that men get rich more easily by graft than by work, and your laws no longer protect you against them, but protect them against you… you may know that your society is doomed. So come on, raise them taxes! We will at least be accelerated into the reset moment, and we can finally see all the Statists scuttle back under their rocks for a few more decades. People will die, lives will be ruined, but at least we will get to a point where things can only improve. Look at the comments above. There are actually people out there who hate 'the rich' so much, they would actually destroy the entire economy just to get at them a little bit. They claim to hate those in charge, then want to implement a 98% marginal tax rate. Socialism in a sentence: Wealth is a means of human life, and they clamor for wealth in imitation of living beings, to pretend to themselves that they desire to live, but their swinish indulgence in plundered luxury is not enjoyment, it is escape. They do not want to own your fortune, they want you to lose it; they do not want to succeed, they want you to fail; they do not want to live, they want you to die; they desire nothing, they hate existence, and they keep running, each trying not to learn that the object of his hatred is himself. Quote Link to comment Share on other sites More sharing options...
'Bart' Posted July 15, 2011 Share Posted July 15, 2011 Socialism in a sentence:Wealth is a means of human life, and they clamor for wealth in imitation of living beings, to pretend to themselves that they desire to live, but their swinish indulgence in plundered luxury is not enjoyment, it is escape. They do not want to own your fortune, they want you to lose it; they do not want to succeed, they want you to fail; they do not want to live, they want you to die; they desire nothing, they hate existence, and they keep running, each trying not to learn that the object of his hatred is himself. Bizarrely I didn't need to use Google to know where that came from. I have the unabridged audio book version --- all 63 hours of it! Quote Link to comment Share on other sites More sharing options...
tahoma Posted July 15, 2011 Share Posted July 15, 2011 (edited) P.S. what the fk are you on about with subsidised endowment policys ??? Don't ask, he has no idea either. It's just that if you smatter your posts with pseudo random economics terminology such as 'international trade flows', 'subsidised endowment policies' and so forth it bamboozles the audience long enough for victory to be claimed and move on. Distilled down, it's just 'I HAYTE FATCHA AND BANKAZZ' with some magic Greenspan pseuds-corner crystals sprinkled on top. Edited July 15, 2011 by tahoma Quote Link to comment Share on other sites More sharing options...
tahoma Posted July 15, 2011 Share Posted July 15, 2011 Bizarrely I didn't need to use Google to know where that came from. I have the unabridged audio book version --- all 63 hours of it! if you can't face the full 63 hours. Superbly done. Quote Link to comment Share on other sites More sharing options...
dizzib Posted July 15, 2011 Share Posted July 15, 2011 This has gone far enough. In 2 weeks I quit my 50k/yr job in the City to go and live up north for less than 7k/year! Quote Link to comment Share on other sites More sharing options...
winkie Posted July 15, 2011 Share Posted July 15, 2011 This has gone far enough. In 2 weeks I quit my 50k/yr job in the City to go and live up north for less than 7k/year! ...Congratulations.....don't stop working though, work in your own way and in your own time. Quote Link to comment Share on other sites More sharing options...
tahoma Posted July 15, 2011 Share Posted July 15, 2011 I think he is referring to the fact that endowment policies used to get special tax breaks. A tax break is not a subsidy. If a mugger lets you pass rather than mugging you, they have not made you richer. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted July 15, 2011 Share Posted July 15, 2011 c. 750,000 according to wiki. Hardly trivial. Tax free allowances yep - We all did rather well with subsidised endowment policies didn't we? Agree about the 'fooling'. Milk Snatcher and Joseph fooled everyone for the thick end of 30 years until the entire charade inevitably unravelled. Big bang boll*cks, the 1986 Building Societies Act leading to them all collapsing, headline tax rates slashed for the rich but public sector services and pensions left underfunded ending up with present situation. House price boom in the 80s stoked by Lawson. Council housing sold off so that today we overpay stupid amounts to private landlords instead when we could build all the housing we need for only 3% over 10 years. And on and on and on.......... Still, their buddies at Rothschild et al did ok out of all the public asset sales didn't they? Just as they will do when Germany forces similar sales in the piggies. (I know, if you're a deluded creationist the world only started to go wrong in 1997) Don't worry there plan worked, Joseph already dead so not his problem and Thatcher is too fail now to face any charges. From the political perspective job done, ensure your not in power when the 5h1t hits the fan and try to ensure your dead when it does. That's politics. Quote Link to comment Share on other sites More sharing options...
winkie Posted July 15, 2011 Share Posted July 15, 2011 ...all we are asking for is a little tax relief. Quote Link to comment Share on other sites More sharing options...
RJG18 Posted July 15, 2011 Share Posted July 15, 2011 I'm already on a marginal rate of nearly 66%. After 2008 I had to take almost half my salary in share options (deferred for 3 yrs), which are taxed at: 50% income tax 2% employee NI 13.8% employer NI (paid by employee) An extra 12% would take this to nearly 78% ! Would be time to leave, I think. Quote Link to comment Share on other sites More sharing options...
winkie Posted July 15, 2011 Share Posted July 15, 2011 I'm already on a marginal rate of nearly 66%. After 2008 I had to take almost half my salary in share options (deferred for 3 yrs), which are taxed at: 50% income tax 2% employee NI 13.8% employer NI (paid by employee) An extra 12% would take this to nearly 78% ! Would be time to leave, I think. Say you did leave, would they replace you at the same price? Quote Link to comment Share on other sites More sharing options...
Si1 Posted July 15, 2011 Share Posted July 15, 2011 I think it's simple. The finances of: schools are getting sorted out public sector pensions are getting sorted out universities are getting sorted out local councils are gettign sorted out the NHS has been b*llocked up of the above 5, which do you think will get the chop when the younger generations say enough is enough I'm not paying for paps anymore? (hint, number 5) Quote Link to comment Share on other sites More sharing options...
PopGun Posted July 15, 2011 Share Posted July 15, 2011 (I know, if you're a deluded creationist the world only started to go wrong in 1997) Quote Link to comment Share on other sites More sharing options...
InlikeFlynn Posted July 15, 2011 Share Posted July 15, 2011 A tax break is not a subsidy. If a mugger lets you pass rather than mugging you, they have not made you richer. On the other hand they won't have educated your children, policed your streets and looked after your old for you... Quote Link to comment Share on other sites More sharing options...
tahoma Posted July 15, 2011 Share Posted July 15, 2011 On the other hand they won't have educated your children, policed your streets and looked after your old for you... Muggers are not really interested in doing any of those things. Neither is the state, as far as I can tell. Quote Link to comment Share on other sites More sharing options...
PopGun Posted July 15, 2011 Share Posted July 15, 2011 (edited) Taxes must go up, inflation, and cuts are not enough. The third attack of the deficit control triangle is taxation. Be afraid. All part of the deficit hysteria plan. We'll end up bailing out the banker's greed thrice over, (because it's true when they say there can never be enough). And to think some people actually voted for this. Edited July 15, 2011 by PopGun Quote Link to comment Share on other sites More sharing options...
Goat Posted July 15, 2011 Share Posted July 15, 2011 On the other hand they won't have educated your children, policed your streets and looked after your old for you... And that differs from today in what respect? Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted July 15, 2011 Share Posted July 15, 2011 of course, they could attack the deficit from the other end..spending. I propose a 50% cut in the salaries above 25K for all public sector and contractors. Same with pensions....lets say Public sector pensioners only get the NMW, I mean, their houses are paid for, they dont need 5 cruises a year. Quote Link to comment Share on other sites More sharing options...
Jack's Creation Posted July 15, 2011 Share Posted July 15, 2011 Those on the top rate were very few and far between many had left the country. The basic rate was 33% , but NI was only 6.75% , inflation adjusted tax free allowances were higher than now . Add in the vat at only 8.5% , married mans allowance and miras for those with a mortgage and those on the basic rate were taxed less than now . Anyone on basic rate who thinks they pay less now than then has been fooled. I think the tax free allowance was higher as a percentage of income as well. The equivalent today would be about £17,000 (I seem to remember somebody posting a thread about it) Quote Link to comment Share on other sites More sharing options...
tahoma Posted July 15, 2011 Share Posted July 15, 2011 I think the tax free allowance was higher as a percentage of income as well. The equivalent today would be about £17,000 (I seem to remember somebody posting a thread about it) IIRC you used to earn 80% of the median wage before paying a penny of tax. Now it is more like 25%. B*stards. Quote Link to comment Share on other sites More sharing options...
Georgia O'Keeffe Posted July 15, 2011 Share Posted July 15, 2011 IIRC you used to earn 80% of the median wage before paying a penny of tax. Now it is more like 25%. B*stards. The wonders of fiscal drag, as future students are going to be finding out, a beautiful political construct perfectly designed Quote Link to comment Share on other sites More sharing options...
Si1 Posted July 15, 2011 Share Posted July 15, 2011 On the other hand they won't have educated your children, policed your streets and looked after your old for you... I'm more concerned about having my diversity co-ordinated Quote Link to comment Share on other sites More sharing options...
Injin Posted July 15, 2011 Share Posted July 15, 2011 The wonders of fiscal drag, as future students are going to be finding out, a beautiful political construct perfectly designed Can't work though. The monster of state is thrashing around trying to find sustenance, eating the young and old alike. Quote Link to comment Share on other sites More sharing options...
PopGun Posted July 15, 2011 Share Posted July 15, 2011 Like the Guardian who paid less tax than the wage of their ceo at around £800,000. One needs to lobby for loophole closures. But then if you make it hard for companies to avoid paying tax, you weaken them on the global competative stage which could put them on a losing wicket. One example is Tesco. As much as I hate the dominance of Tesco in this country, if they were to be hindered too much with tax take then would they have risen to prominence in other countries which one day could mean alot more income coming into the UK, not because the Tories have changed the tax rules so companies dont have to pay tax on their profits earned abroad, but becuase more companies will headquater in the UK becuase of the Tory change and thus we get jobs that require some mental apptitude coming to the UK. I think the course the UK is aiming for is to make it the place in the world in which to headquarter all global businesses. We already have arguably the financial centre of the world here in London, theres a drive to make the area around Liverpool St/Old Street a new silicon whatever, but with tha tax changes and what the UK can offer in that you can do business with all timezones as well, avoiding the cockups that invariably happen when you are dealing with people on a different day and date for example. Not major hurdles but still play a factor. The only workable long term solution then, is a one world state, with one world regulation, taxation, property laws and currency. I can't see any potential flaws in this what so ever. Quote Link to comment Share on other sites More sharing options...
Rare Bear Posted July 15, 2011 Share Posted July 15, 2011 The wonders of fiscal drag, as future students are going to be finding out, a beautiful political construct perfectly designed In fact fiscal drag is one of those things that work so well that it couldn't have been designed by a politician. More a case of it just happening and it worked to their advantage. Quote Link to comment Share on other sites More sharing options...
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