Monday, January 9, 2012

No tax on bankers bonuses!

Death by a thousand cuts

This is another excellent article from the current Economist issue. Absolutely excellent and objective: a masterclass of impartial analysis. We really have to get behind the captains of our financial industry. Let's start "no tax on bankers bonuses" campaign. Otherwise the bankers can get disappointed and may move to another country to create wealth and prosperity there. If this happens who is going to take Britain out of the current economic crisis? Surely not useless and lazy lower rate taxpayers who are not smart enough to earn a decent living for themselves.

Posted by ant @ 12:40 PM (1821 views)
Please complete the required fields.



9 thoughts on “No tax on bankers bonuses!

  • BTW, I think that bankers who come to work in the City from the overseas should get a 5 years tax free deal (including the right to claim all VAT back they paid on their expenses and, of course, no Council Tax). And if within this 5 years they earn of average over £1 million a year this deal should be extended by another 5 years. And after 10 years if they earn of average more than £2 million a year they should get a tax free deal in the UK for good. Can you imagine how much wealth they would bring to the UK? And all the silly issues about tax avoidance schemes would have disappeared so HMRC would have stopped wasting their money on looking into these complex stuff.

    Reply
    Please complete the required fields.



  • mark wadsworth says:

    Correct!

    And further, could we please sort out making all rental income tax free, because as we well know, a landlord passes on all his taxes to his tenants, so by cutting their taxes we ease the burden on Hard Working Hard Pressed Tenants.

    Reply
    Please complete the required fields.



  • ouch

    sea france has gone out of business

    Reply
    Please complete the required fields.



  • @mark wadsworth: I agree but to a limit. We should offer such deal only to landlords that have 3 or more properties. Otherwise some lower rate taxpayers who decided to buy a property as a retirement savings could sneak and benefit from it. These people are the scum of the earth: they bought a property rather than entrust their money which they so easily earn with brilliant City funds and pension managers. This scum has to be squeezed out of their properties (by selling cheaply to larger landlords). They would be taught a lesson. Only big landlords bring so much benefit to the UK and can pull our country out of this mess. We have to do it in a true spirit of “we are all in it together”.

    Reply
    Please complete the required fields.



  • All this activity in London. But it’s based mainly on Wall Street investment banks using London’s deregulatory environment and shadow banking system to get away with things they can’t get away in the US – regulatory arbitrage. Deregulation has been the key to London’s position in finance.

    “London’s lead in foreign exchange, as well as in interest-rate derivatives, grew out of its reinvention in the 1960s and 1970s as an offshore centre for dollar deposit-taking and lending, after sterling’s decline as a reserve currency”. This was the beginning of the UK’s lead in deregulation. It paved the way for US banks’ establishing themselves in London, for the offshore system (located initially in small island colonies that didn’t seek independence from the UK), for the dominance of finance capitalism (hot money) over industrial capitalism, for speculative attacks on currencies and for shadow banking, the keeping of two sets of books, tax evasion and the growing divergence between the super-wealthy and the peons. It was also an important step in establishing the dollar as the hegemonic currency, allowing the US to live beyond its means and pay its foreign debts in a currency it printed, throw its weigh around in the world and create destabilising economic imbalances.

    Reply
    Please complete the required fields.



  • mark wadsworth says:

    Ant 3, that’s the spirit!

    Reply
    Please complete the required fields.



  • sibley's b'stard child says:

    For a moment there Mark, I read that @ 3 as:

    ‘See, France has gone out of business’.

    Reply
    Please complete the required fields.



  • Sib’s for a moment I also figured the “N” was missing from the latter part of the Economist title.

    Reply
    Please complete the required fields.



  • sib

    that would be see UK has gone out of business

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>