General Election June 8th

[Vic]

What I find odd mate is that no one has quoted that and explained how it's not a fair share. Or even defended the unfairness (to the wage earner with a comfortable but not obscene salary of £120k per year) of them paying 24x the tax on only 6x the salary.

So you're changing the goal posts now (from people talking about income tax) as you've realised the figures were indeed correct.

NI is still used for contributions towards benefits and pension.

Were people talking only about income tax? First time that distinction has been made. Perhaps because it changes the differential from 24x to 14x. Not that that will affect the view of those who seem to think all taxation is theft.

 

[SWP's back]

read the key points of the tory manifesto, it's bit shit really.

I've gotta say. I'm a bit surprised you don't think it's awesome.

 

[SWP's back]

Were people talking only about income tax?

Yes. Hence the figures quoted were all income tax. NI goes towards your health and pension eligibility.

Perhaps because it changes the differential from 24x to 14x

14.9 rounds to 15.

all taxation is theft.

Totally agree.

 

[andyhinch]

Yes. Hence the figures quoted were all income tax. NI goes towards your health and pension eligibility.



14.9 rounds to 15.



Totally agree.

That's my general feeling about it as well.

 

[cibaman]

read the key points of the tory manifesto, it's bit shit really.

The manifesto produced by the governing party should be a non event. We should already know their plans. Apart from a bit of long term "vision", which people aren't really interested in, anything else they include tends to fall into the category of "gimmick". And producing a manifesto just encourages them to make daft promises eg to hold a referendum.

The opposition parties spend their time opposing the government. It isn't until the election campaign that there's much focus on what they would actually do. Hence their manifesto's are a very important part of the political process. Much less so for the government.

 

[Vic]

I think you need to work out the distinction between retail and investment banking before you come up with your next great idea.

I think I understand the distinction and I think I understand snide and pedantic comments - but are you saying only one type of banker gets bonuses?

 

[bugsyblue]

Why are some people so against paying taxes? Interested to hear the arguments.

Personally, I'd rather live in a fair society that works and have to pay a bit more to the government every year than one where the sick, elderly, young and inferm are left to rot. And for that you have to pay for it.

 

[cibaman]

Why are some people so against paying taxes? Interested to hear the arguments.

Personally, I'd rather live in a fair society that works and have to pay a bit more to the government every year than one where the sick, elderly, young and inferm are left to rot. And for that you have to pay for it.

1) They don't have faith in the government to spend those taxes wisely

2) They wonder "where will it end?" if a government is elected on a policy of increasing taxes

3) They agree with the principle of increased taxation, but think it should be other people who pay

 

[kevin horlocks wand]

The money paid in bonuses could reduce bank charges, increase interest paid, pay ordinary bank workers more, reduce interest charged on business loans (or just lend more - there might be more entrepreneurs if these capitalist banks weren't so risk-averse). Money circulates in the economy, in the poorer 95% of the population, which is better for the economy.

Yeah meanwhile in your master plan there would be a massive black hole in funding the NHS, roads schools,defence, benefits etc.

You have not yet grasped that the uk needs a certain amount of money to function and the top 5 percent pay nearly half of their wages over and half of the income tax take needed in the uk. The more people earn the more tax we get particularly if administered under paye. It's a good thing for the exchequer not a bad thing.

 

[SWP's back]

I think I understand the distinction and I think I understand snide and pedantic comments - but are you saying only one type of banker gets bonuses?

The bonuses that are wrongly bemoaned in the press and by an ignorant population are mainly given to investment bankers yes.

There are a few (in comparison) senior directors of retail banks that receive them but the numbers are insignificant against investment bankers (seeing as the majority of those investment banker bonuses are made up from their profit share on commodities, futures, bonds, options and equity trading).

Also you obviously don't know the difference between the two or you wouldn't label my comment pedantic.