erranta Posted August 25, 2011 Share Posted August 25, 2011 (edited) How about Osborne stops scams like Philip Green's wife taking a £1.2bn a year tax free dividend from 'her' UK businesses and add the money to tax allowances at the bottom end of the spectrum. Just think closures of tax loopholes for a few dozen people could put around £60 in every tax payers pocket in the UK instead of bolstering Monaco's coffers. Over £5 Billion a year revenue expected from just ONE "hidden from taxman" taxhaven ie Switzerland. That's nearly 1/10th of total tax revenue we get from City of London annual rip-off turnover! How much have the Elites sucked out of the country in total over the decades thru their Big Businesses, Trusts and off-shoring? The Elite love doing the business here, extract the wealth+manipulate the UK population but pay taxes toward keeping same society going no-way = eventual riots Edited August 25, 2011 by erranta Quote Link to comment Share on other sites More sharing options...
Kurt Barlow Posted August 25, 2011 Share Posted August 25, 2011 Over £5 Billion a year revenue expected from just ONE "hidden from taxman" taxhaven ie Switzerland. That's nearly 1/10th of total tax revenue we get from City of London annual rip-off turnover! How much have the Elites sucked out of the country in total over the decades thru their Big Businesses, Trusts and off-shoring? The Elite love doing the business here, extract the wealth+manipulate the UK population but pay taxes toward keeping same society going no-way = eventual riots Couldn't agree more. For once a coherent post from Erranta! Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted August 25, 2011 Share Posted August 25, 2011 The reason that people dont save as much as they used to is due to our welfare system. What is the point of saving for a rainy day, if when that rainy day comes, you cant get state handouts because you have saved too much? The only point in saving is if you have a realistic chance of saving so much, that the income from those savings exceeds what the state will give you. For many this is not a realistic possibility. And then you have to consider that people have huge amounts of tax taken off of them to provide a safety net for those who are experiencing a rainy day, many of whom could have provided for themselves anyway, but instead have chosen to spend all their income, knowing that others would have to stump up should it rain. The idea then, that the government should spend even more to solve this problem, is utterly absurd. It can get the money either from borrowing, which is deferred taxation, or more taxation now. Both of which are going to make it even more difficult for working people to save. The government is going to have to get more money from somewhere if it continues with present policies because they totally discourage people from providing for themselves. What is the point of saving when we have interest rates at 0.5%? More and more people will just try rely on the state. The message from the government is moral hazard is good, saving is for fools. Quote Link to comment Share on other sites More sharing options...
MrPin Posted August 25, 2011 Share Posted August 25, 2011 Couldn't agree more. For once a coherent post from Erranta! Don't you diss my cell-mate! :angry: Quote Link to comment Share on other sites More sharing options...
copydude Posted August 25, 2011 Share Posted August 25, 2011 Could that be due to anything to do with house "prices" per chance?? Spot on, as always, Eric. The cost of basic accommodation and utilities is now just stupid. If they stopped fiddling the inflation figures, they might know you can just about afford to eat on top. We're just so lucky a healthy financial services sector *cough* is making up for any shortfall in the consumer economy. The 'Westminster Bubble' is obviously made out of something very thick. Quote Link to comment Share on other sites More sharing options...
stormymonday_2011 Posted August 25, 2011 Share Posted August 25, 2011 Spot on, as always, Eric. The cost of basic accommodation and utilities is now just stupid. If they stopped fiddling the inflation figures, they might know you can just about afford to eat on top. We're just so lucky a healthy financial services sector *cough* is making up for any shortfall in the consumer economy. The 'Westminster Bubble' is obviously made out of something very thick. Mortgage or rent, gas,electricity, water, council tax, home to work travel costs and food does not leave much spare cash to fire an economic recovery. Of course MPs get most of that on expenses so they are not likely to notice the pain. Quote Link to comment Share on other sites More sharing options...
wonderpup Posted August 25, 2011 Share Posted August 25, 2011 The reason that people dont save as much as they used to is due to our welfare system. Which may be exactly why it exists, to promote consumption which in turn creates demand which drives profits and jobs. Ask yourself why the Chinese communist party- hardly a soft hearted bunch- are so keen to put in place their own social welfare system- it's not because they want to be nice, it's because they have worked out that until they do they will never create the internal demand they need to have a viable domestic economy. People who fear illness, unemployment and old age are not going to be going shopping that much- and people going shopping is the basis of the economy. So even in the most cynical terms it just makes more sense to 'socialise' the risk and thereby encourage higher consumption and lower saving. Quote Link to comment Share on other sites More sharing options...
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