Taxing the super rich

[Henkeman]

The way to reduce national debt isn't to tax people into oblivion, the answer is to tax people/wealth more, in line with what almost every other country in Europe does.

As for what I wrote in relation to the deficit, it's not wrong, it's a fact.

https://ec.europa.eu/eurostat/tgm/table.do?tab=table&plugin=1&language=en&pcode=teina200

That's up to 2016/17. You do know what year it is, right? You do see the trend there? So it WAS a fact, it is no longer a fact.

Again, what European countries do is not necessarily relevant to what we should do. You do comprehend that particular point don't you? Do you think we should all speak German as well?

 

[Chippy_boy]

It's not working though, is it?

We've just had the UN Poverty Envoy come to our country and lambaste the state of our public services. We've had 10 years of cuts and we're still running a deficit that's almost double the EU27 average. We've got one of the highest national debts in the developed world and we've got a growth rate that's rock bottom of the G20. That's without mentioning the current constitutional deadlock we're in that's reduced UK business investment to virtually zero. In what possible way are we doing 'what works for us'?

How big were these other countries' financial institutions and to what extent were those other countries impacted upon by the financial crisis in 2008?

Behind every stat is rather important detail.

Look at what happened to our deficit in 2008/9 when we had to bail out the banks in order to stop the whole country from effectively going bust and being unable to function.

We've been paying for this ever since.

 

[Fame Monster]

I'd argue the best way to increase the tax take is to get the economy moving.

And you don't do that by raising taxes. Quite the opposite in fact.

Yet those countries with higher tax takes are growing at faster rates than the UK. The tax/growth relationship is a complex one and the idea that taxing people results in economic stagnation is a nasty right-wing myth propagated mainly by the selfish and the stupid.

 

[Chippy_boy]

Yet those countries with higher tax takes are growing at faster rates than the UK. The tax/growth relationship is a complex one and the idea that taxing people results in economic stagnation is a nasty right-wing myth propagated mainly by the selfish and the stupid.

And denied by those even more selfish and stupid.

"I want more this, I want more that, and I want SOMEONE ELSE to pay for it".

And you call the right-wing, selfish? Go figure.

 

[Henkeman]

Yet those countries with higher tax takes are growing at faster rates than the UK. The tax/growth relationship is a complex one and the idea that taxing people results in economic stagnation is a nasty right-wing myth propagated mainly by the selfish and the stupid.

Do the same for the last 35 years and see what you find. Picking a snapshot and assuming it applies to all is pretty silly.

 

[Fame Monster]

That's up to 2016/17. You do know what year it is, right? You do see the trend there? So it WAS a fact, it is no longer a fact.

Again, what European countries do is not necessarily relevant to what we should do. You do comprehend that particular point don't you? Do you think we should all speak German as well?

You're right, it's 2018 and this is no longer a fact. Our deficit isn't double the EU27 average as I wrote, it's actually QUADRUPLE the EU27 average as of 2018 Q1 and Q2. I'll let you know when the Q3 results are published.

https://ec.europa.eu/eurostat/docum...P-EN.pdf/1be8e140-b05a-4235-b28d-d83c6abfd23b

https://ec.europa.eu/eurostat/documents/2995521/9332933/2-23102018-BP-EN.pdf

 

[Chippy_boy]

You're right, it's 2018 and this is no longer a fact. Our deficit isn't double the EU27 average, it's actually quadruple the EU27 average as of 2018 Q1 and Q2. I'll let you know when the Q3 results are published.

https://ec.europa.eu/eurostat/docum...P-EN.pdf/1be8e140-b05a-4235-b28d-d83c6abfd23b

https://ec.europa.eu/eurostat/documents/2995521/9332933/2-23102018-BP-EN.pdf

Have you looked up how big our financial services sector is yet?

 

[Fame Monster]

And denied by those even more selfish and stupid.

"I want more this, I want more that, and I want SOMEONE ELSE to pay for it".

And you call the right-wing, selfish? Go figure.

It's not about getting someone else to pay for it. It's about everyone paying for it. Three different opinion polls have around 60% of UK citizens happily paying more tax for the good of the country. Going back a hundred years, people were happy to die for our country yet today, a small, selfish, 'I'm alright Jack' minority continue to survive and prosper in UK politics, loathe to pay a penny more in tax and then wonder why the UK is struggling so much.

 

[aguero93:20]

You see this is what pisses me off. The inference that someone who's already paying a fuck of a load of tax (presumably, and if not, should be) is not contributing already.

Those who can pay should and those who can't should not. Always agreed with that and it's never bothered me.
The high earners stand on the shoulders of giants.

 

[aguero93:20]

Oh and I'm surprised the idea of a tax on sales instead of profits has come up. It's the stupidest idea there is. Start up businesses would collapse after a year, no one would take on staff. It's crackers. Tax on profits is the only way.

The take on VAT is higher than anything else, I don't see a collapse.