Maximum Wage Law - Corbyn

[bluethrunthru]

No-one said differentials have gone up IN ORDER that the top brass could have the privilege of paying more tax. Merely that as their earnings have gone up, they are paying more tax. But twist things all you like mate, if it makes you feel more unhappy; a state of mind you clearly revel in.

But here's a thought - if you tried putting your bitterness to one side, you might actually find yourself being a happier person.

I'm happy as Larry mate. Not bitter just entering the debate. If you opened your mind to the prospect that you're not in the right 100% of the time there would be less of the venom I seem to sense in every punch of the keyboard that comes through in your posts - chill and stay calm blue.

I assume from your posts that the only problem this country faces is the rich aren't rich enough? If they were paying more tax there would be no need for HMRC to keep having to close loopholes to stop tax avoidance. I don't think Corbyn's idea is a goer at all but it does shine a light onto an area that needs to be addressed - unfettered greed by people who see less and less reason to contribute to the society they live in and enjoy on the same pro-rata basis as those they employ do.

 

[Hart of the Matter]

Does anyone really believe Corbyn is electable?? He may be a 'nice' man but he is a throw back to cliches from the past.. even when making some serious observations he manages to make everything sound 'old school' and out of touch. Jez ( I hate that!) cult of personality ( or lack of) is leading his merry band of fck whits out into the wilderness and leaving the rest of us stranded with Ther fkn easa fkn may!

 

[bluethrunthru]

Sweden,Germany,Switzerland,France,Netherlands and Australia have a wage/bonus cap some sort and they seem to be able to keep their countries ticking over .2009 when Obama started to impose a wage/bonus cap we wanted to follow suit and came up with a BoE Staff Working paper No 558.

Dear me - thats treason in these pages mate ha ha ha. I bet those countries are all higher than us up those "happiness" tables that are produced to show where's the best place to live? Also kind of blows a hole in the argument that all the bankers would fuck off to Switzerland if their incomes were capped.............if true they would be moving to a jurisdiction that did it anyway !

 

[peoffrey]

Penalising folk for being talented and successful is a terrible thing. They're rewarding mediocrity. I want to see people think big or use the famous / wealthy as inspirations. I know I do.

If I begin to be penalised for doing very well then I'll pack my bags and piss off abroad. Many already have.

 

[bluethrunthru]

Penalising folk for being talented and successful is a terrible thing. They're rewarding mediocrity. I want to see people think big or use the famous / wealthy as inspirations. I know I do.

If I begin to be penalised for doing very well then I'll pack my bags and piss off abroad. Many already have.

would that explain why so many US actors live here, so many Russian oligarchs live here and how many wealthy folk from the middle east live here? They come to be punished for being wealthy?

 

[SWP's back]

I don't doubt that - Jimmy Carr is a fine example. However look at former CEO Sir Philip Green - he had a choice. Stuck loads in the wifes name registered in Monaco to avoid UK tax. Did as much as he could to be "tax efficient" when running BHS and left it in a fine state when he sold it on. The CEO's who's rewards when compared with the lowest paid in their organisation has gone from a differential of around X90 in 1997 to a multiplier of over X200 last year obviously did that in order to pay loads of extra tax............. laughable.

Phillip Green is a fuck end and doesn't pay the tax he should, on that I totally agree.

 

[urban genie]

Penalising folk for being talented and successful is a terrible thing. They're rewarding mediocrity. I want to see people think big or use the famous / wealthy as inspirations. I know I do.

If I begin to be penalised for doing very well then I'll pack my bags and piss off abroad. Many already have.

The thing is a joint study in 2014 by cambridge uni and Purdue uni over a period of several year foundcthose CEO's paid the highest actually were the worst performers.

Anothe recent study by MSCI, which examined 800 CEOs at 429 large and midsize companies in the United States from 2006 to 2015 concluded that some of the highest-paid CEOs oversee some of the worst-performing companies and CEO pay doesn't reflect stock performance.

On the other hand it has also been reported that CEOs on large bonus packages (which seem to be whay people normally moan about more) are the worst performers as pressure to achieve the bonus targets lead to rash ill-judged decission., while those on a fixed pay perform better.

So maybe not always paying more for the most talented can help but as some studies show hinder their perfomance.

And then you get cubts like green just ripping off the country and his workforce.

 

[kevin horlocks wand]

I assume because footballers are direct employees of the football club not freelance or retained as a consultant?

You have it all wrong. Paye takes care of any worries you have about tax avoidance. They don't have a choice it is taken by the company and handed over to hmrc. People used to say all these clever bankers getting bonuses and using tax avoidance schemes to not pay tax is bollox. It's taken immediately under paye.

The people who avoid /manage their tax affairs to minimise it are actors , musicians footballers and the self employed. They have greater flexibility to manage their affairs. However it's a bit much to assume everyone is bent and fiddling tax at the top end. they are not. It is very difficult to avoid paying income tax on income it's automatic. The more likely tax planning to reduce rates is entrepreneurs relief on sale of companies to reduce capital gains tax , but that's lawful mate,

The easiest thing in the world to increase tax revenue without pissing off the public would be to prosecute tax avoidance criminals. They would do it in a heart beat if they could but they are dealing with criminals so it's difficult like catching all criminals.

As someone posted the top 1% quite rightly pay 27% of the uks total tax revenue. They can't all be bent.

 

[peoffrey]

would that explain why so many US actors live here, so many Russian oligarchs live here and how many wealthy folk from the middle east live here? They come to be punished for being wealthy?

You haven't addressed my points in the slightest. They're here because there is no cap on earnings. If we have one then they'll leave. Try again!

 

[Chippy_boy]

I assume from your posts that the only problem this country faces is the rich aren't rich enough? If they were paying more tax there would be no need for HMRC to keep having to close loopholes to stop tax avoidance. I don't think Corbyn's idea is a goer at all but it does shine a light onto an area that needs to be addressed - unfettered greed by people who see less and less reason to contribute to the society they live in and enjoy on the same pro-rata basis as those they employ do.

You'd assume completely incorrectly and I am assuming (since the comment is so ridiculous) that you only said it to be provocative anyway.

I've merely said that trying to cap executive pay was a completely stupid and unworkable idea and supported someone who said that when people earn vast amounts of money, at least we can take some comfort from the thought that they are almost always paying a vast amount of tax.

The bitters would have you believe that no-one who earns more than twopence pays any tax and they are all "fuckers" - your words I think. The bitters have a mantra that says "I want this, I want that, it's MY right to have whatever"... "And 'the fuckers' can pay for it, because they earn loads don't they and the fuckers do nothing but sponge of the rest of us".

This shitty attitude really makes my skin crawl.

And as to the rest of your post (after sentence 1), what utter nonsense.