A Investment forum. InvestmentBanter

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

Go Back   Home » InvestmentBanter forum » Regional » UK stockmarket
Site Map Home Register Authors List Search Today's Posts Mark Forums Read Web Partners

are cuts necessary?

Thread Tools Display Modes
Old August 15th 10, 11:15 PM posted to uk.finance.stockmarket,uk.finance,uk.politics.economics
external usenet poster
Posts: 1
Default are cuts necessary?

Stew wrote:
Doug wrote:
mick wrote:
The alternative to cuts are rising taxes.VAT to say 25%, income tax and
NI.Probably better in the long run to stop spending so much.

Whoa! You're just a radical aren't you?

Yes, VAT will undoubtedly increase because it's instant - no waiting
around for year end assessments. To soften the blow, it might be
accompanied by the phased introduction of the 10k income tax limit
- say 1000/year over five years.

So how much is VAT going to increase? The recent temporary drop to 15%
didn't seem to have much effect, so they might conclude that an increase
to 20% wouldn't frighten the horses, and it would bring in 13
Billion/year. Combined with the 6 Billion already announced, it will
certainly reduce the deficit significantly - and still leave the UK in the
middle ranks of VAT rates.

I'm sort of optimistic that other spending reductions will occur, so that
we don't over-tax ourselves and stop the recovery.

What though, would the effect of applying a 98% land value tax and
correspondingly reducing other taxes be, I wonder? :-)

Good Heavens! All these radicals about!

98% of what?

I can imagine a proposal for 98% inheritance tax, for those who hate
inherited wealth (and since I never had any inherited wealth, I can look
upon such a proposal with equanimity).

But normally tax is collected on transactions, and a 98% land tax would
presumably be applied when someone buys or sells land. That would
certainly slow things down a little - which the banks are doing now by
simply hoarding the money given to them by the government on our behalf,
soon to be repaid by cutting the DHSS payments. It's not radical in
other countries (Latin America, Africa) to rob the poor in order to
reward the rich, but we haven't done it for a while. I think it's part
of our natural progress to become another Third World country.



Old August 16th 10, 12:41 AM posted to uk.finance.stockmarket,uk.finance,uk.politics.economics
external usenet poster
Posts: 9
Default are cuts necessary?

On 15 Aug, Doug wrote:
Stew wrote:
What though, would the effect of applying a 98% land value tax and
correspondingly reducing other taxes be, I wonder? :-)

Good Heavens! All these radicals about!
98% of what?

See he http://homepage.ntlworld.com/janusg/inlrc.htm


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Pay cuts Kurt Ayrez UK 1 September 6th 09 01:10 PM
Tax cuts we can well do without Dr. Sir John Howard, AC, WSCMoF[_5_] Australia 7 July 1st 09 10:23 PM
tax cuts Lionel Australia 10 June 21st 06 01:09 AM

All times are GMT +1. The time now is 06:45 AM.

Powered by vBulletin® Version 3.6.4
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Copyright 2004-2019 InvestmentBanter.
The comments are property of their posters.