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UK Govt & Corporate Crooks "All In It Together"

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Vracktal
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PostPosted: 17:40 - 21 Sep 2013    Post subject: Reply with quote

Watched this today.

Raged. Evil or Very Mad They're not even trying to pretend they're taxing the rich for their fair share anymore.
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ThoughtContro...
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PostPosted: 18:56 - 21 Sep 2013    Post subject: Reply with quote

So what's new? The public are so retarded they won't watch it or don't care. Satiated by the latest distractions or enraged by some fake pedo-BB-celeb garbage.

Expect some Cameron-Clegg fanboys to chirp in with some absurd rationalisation or a "the Labour Party were as bad/worse and in bed with the corporate kleptocracy too", so it's all good and I can go back and live in my little bubble and forget all about it.

The whole system is a corporate criminal system from top to bottom. It's funny some people only just noticed.
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G
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PostPosted: 11:00 - 29 Sep 2013    Post subject: Reply with quote

Nothing new there, really Confused.

With any set of complex rules, there will always be ways around it.

The more money you have, the easier it will be for most things in life.
This is why people try and get more money, of course.

Big companies run for shareholders are always going to be profits-focused.
Often the shareholders are the organisations that pay you interest on your bank accounts or lend you money for your mortgage etc at cheap rates. Further, they lend money to other companies, which can then use that to built new stores, internet businesses and the like which us people at the bottom patronise.

If a good proportion of the country chose where they spent their money using ethical investment principals, we'd likely be in a much better situation.

I was amused by him driving an old Mini - it's not just the government using subtle propaganda Smile.
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krarkol
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PostPosted: 14:01 - 29 Sep 2013    Post subject: Reply with quote

It's never as simple as "Everyone pays tax!" then they lay out the percentages for different levels of pay.


Instead, they make it proper complicated. That way they can incorporate loopholes for themselves and their own to take advantage of. It's why people always advise you to get a good accountant when running a business Laughing
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fatpies
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PostPosted: 14:11 - 29 Sep 2013    Post subject: Reply with quote

krarkol wrote:
It's never as simple as "Everyone pays tax!" then they lay out the percentages for different levels of pay.


Instead, they make it proper complicated. That way they can incorporate loopholes for themselves and their own to take advantage of. It's why people always advise you to get a good accountant when running a business Laughing


My accountant used to say when he started in the 90s the tax book was like a magazine. By the mid 00s it was like the encyclopaedia Britannica.

I think we should go for a flat tax, no ifs no buts you make £1000 from any means be it rent, wages or selling stuff you pay the same % with nothing to write off against this.


Last time the Tories mentioned this they got slammed, because for some reason there exists a mentality whereby if you earn more you should pay more...
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Derivative
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PostPosted: 14:22 - 29 Sep 2013    Post subject: Reply with quote

fatpies wrote:
Last time the Tories mentioned this they got slammed, because for some reason there exists a mentality whereby if you earn more you should pay more...


Because of disposable income.

As there's essentially an enforced minimum standard of living (via planning permission/buildings regs, council tax, etcetera).

Someone on £20k after tax can save £10k/year if they're prudent.
On £10k you'd be lucky to save a grand.

So you're not really earning 'twice as much', you actually earn ten times as much (treating life as a 'business', and living costs as operating expenses).

I can't say I agree with reaming people to the tune of 40% but it does make sense to tax those who actually have money more.
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G
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PostPosted: 14:29 - 29 Sep 2013    Post subject: Reply with quote

fatpies wrote:

I think we should go for a flat tax, no ifs no buts you make £1000 from any means be it rent, wages or selling stuff you pay the same % with nothing to write off against this.

Presume mean revenue by 'nothing to write off against this'?

If so, then things like fuel which are often sold with incredibly small profit margins will see massive inflation in prices.

If it's profit, then things will be written off against this.

Starbucks doesn't make a profit in the UK because it pays heft fees for being Starbucks in the UK to somewhere that has cheaper tax.

Just as companies working in other areas do the same and bring money in to the UK.
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Ste
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PostPosted: 14:32 - 29 Sep 2013    Post subject: Reply with quote

Vracktal wrote:
They're not even trying to pretend they're taxing the rich for their fair share anymore.

Rolling Eyes

"Top 14 per cent of taxpayers pay 60 per cent of all tax"

"The wealthiest one per cent of taxpayers, nearly 300,000 people who earn more than £150,000 a year, are shouldering 26.5 per cent of the income tax burden."

"the very richest, the 4,000 people earning more than £2 million a year – representing just 0.01 per cent of taxpayers will pay 4.5 per cent of the country’s income tax."

"At the other end of the scale, the number of taxpayers is expected to to fall just below 30 million as a result of the 1.4 million who will see their liability disappear because of higher personal allowances introduced by the Coalition."

Sauce
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krarkol
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PostPosted: 14:38 - 29 Sep 2013    Post subject: Reply with quote

G wrote:
fatpies wrote:

I think we should go for a flat tax, no ifs no buts you make £1000 from any means be it rent, wages or selling stuff you pay the same % with nothing to write off against this.

Presume mean revenue by 'nothing to write off against this'?

If so, then things like fuel which are often sold with incredibly small profit margins will see massive inflation in prices.

If it's profit, then things will be written off against this.

Starbucks doesn't make a profit in the UK because it pays heft fees for being Starbucks in the UK to somewhere that has cheaper tax.

Just as companies working in other areas do the same and bring money in to the UK.



Starbucks don't pass on their savings to their customers. It's like £4 for a cup of coffee with some squirty cream on top. That's in an average town. I'd hate to see city prices!

fatpies wrote:

I think we should go for a flat tax, no ifs no buts you make £1000 from any means be it rent, wages or selling stuff you pay the same % with nothing to write off against this.


I agree! If we all paid the same it's pretty fair. The higher your wage the more you are paying anyway so why does the percentage need to increase aswell?

No wonder people evade tax. I'd despise working my ass off to have almost 40% of my earnings taken from me. Especially with the way things are going.

But in my own personal situation, I'd be happy just having a job and atleast earning Laughing
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G
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PostPosted: 15:06 - 29 Sep 2013    Post subject: Reply with quote

I worked in an earlier Starbucks store - the first one in the good sized town I was in with the closest next one maybe 20 miles away.

They didn't expect to make a profit in that store for two years or so.

It's a premium product at a premium price.

If it was cheaper, it wouldn't be the same product (even if it was exactly the same product).
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G
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PostPosted: 16:25 - 29 Sep 2013    Post subject: Reply with quote

I would love to see much better contracts done - including reasonable penalty clauses for late delivery and no allowance of movement on price (unless of course new features are added.)

Of course, that would certainly push the price of quotes up; both because they'd be taking a bigger risk taking on the contract and just that they couldn't come in at an unrealistically low price.
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fatpies
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PostPosted: 16:33 - 29 Sep 2013    Post subject: Reply with quote

Ste wrote:

"Top 14 per cent of taxpayers pay 60 per cent of all tax"

"The wealthiest one per cent of taxpayers, nearly 300,000 people who earn more than £150,000 a year, are shouldering 26.5 per cent of the income tax burden."


The counter to this is how do they make their money?

Take for example investment bankers. I dunno lets pull a figure out of my bum, say they make £200K, (more than 50K puts you in the top 10%) the tax man will take about £83,312.64.

From https://www.listentotaxman.com/

Except bankers destroy £7 for every £1 they make.

Therefore to make that £200K, they had to destroy £1.4million of wealth elsewhere. So sure they pay £83,312.64 in income tax. Which is a lot.

Except they are still in deficit. £1316687.36 of wealth has been destroyed. Which is helluva lot more than they pay in taxes.
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fatpies
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PostPosted: 16:35 - 29 Sep 2013    Post subject: Reply with quote

Vincent wrote:
Big business will eventually eat itself to death anyway. If nobody has any money they won't buy anything and, if nobody has a job, they won't be paying any tax.
The Germans had the right idea by investing rather than this austerity nonsense. Everything here is geared for maximum profit for the shareholders by increasing profits and lowering wages and fuck everyone else. Once they've bled the populus dry, they'll fold.




Sure, except they will just lobby the government for a government bail out.

The Tories right now are pushing a work for dole program where a FULL TIME job has to be taken up by anybody on JSA considered long term.

Remember that modern day slavery thread I made about how people objected to working 6-10 weeks for a corporate? So they can rightly sack you and hire you back for £64 a week.
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G
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PostPosted: 18:26 - 29 Sep 2013    Post subject: Reply with quote

fatpies wrote:

Except bankers destroy £7 for every £1 they make.

Citation, please.
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fatpies
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PostPosted: 18:32 - 29 Sep 2013    Post subject: Reply with quote

G wrote:

Citation, please.



https://www.neweconomics.org/publications/entry/a-bit-rich


These are some big assumptions in appendix 2
Quote:


- Nursery worker: "we assume that each place in child care will allow for one average annual wage to be earned by a parent"

- Advertising executive: "we consume more than we need and that this has damaging environmental and social impacts" and that this spending was a net negative and some of it is due to advertising companies

- Hospital cleaner: Mostly empirical evidence, looks relatively solid

- Tax accountant: Every pound in tax avoidance is a 400% net loss to society, only benefit is jobs (50 billion in "benefits of tax money going to child care"/ (14,000 jobs * 75000 average accountant salary)

- Recycling worker: Mostly empirical, some assumptions about carbon footprint, but nothing egregious.



However as I said in an earlier post, interest on loans may well be counted as GDP but is is actually taking productivity from one person and giving it to another. It doesn't create any extra wealth even though GDP counts that it does.
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Derivative
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PostPosted: 19:03 - 29 Sep 2013    Post subject: Reply with quote

Quote:
Tax accountant: Every pound in tax avoidance is a 400% net loss to society


This is so unbelievably wrong that I don't even know where to start.

Imagine you earn sixty grand and don't know how / can't be bothered to file your self assessment. So you employ a tax accountant to do so.

They are not 'avoiding' tax in any reasonable sense, they are purely ensuring that you are compliant and that you avoid HMRC penalties.

The vast majority of accounting work lies in this domain, be it for individuals or corporations. Only a tiny minority deal with the 'creative accounting' - i.e. Googles and Starbucks of the world. There's actually a big push away from this sort of stuff, because the big accounting firms can't afford the reputational damage (think Enron).

Accounting is quite literally necessary to ensure that _any tax is paid at all_. Otherwise no-one has any idea what is owed.


Last edited by Derivative on 19:16 - 29 Sep 2013; edited 1 time in total
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G
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PostPosted: 19:13 - 29 Sep 2013    Post subject: Reply with quote

The rather massive omission they seem to have made is that investment bankers also contribute to the economy generally by convincing people that do have money to give it to them so they can 'invest' with others, which supports UK businesses generally.

By having a world renowned financial sector, we also bring a good bit of money in to the UK. And not tourists spending £10 on Union flag t-shirts.

Putting the banking crisis purely at the feet of the people doing this job is massive scape-goating and ridiculous to my mind.
Also rather silly they consider it an ongoing cost.
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fatpies
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PostPosted: 20:30 - 29 Sep 2013    Post subject: Reply with quote

G wrote:
The rather massive omission they seem to have made is that investment bankers also contribute to the economy generally by convincing people that do have money to give it to them so they can 'invest' with others, which supports UK businesses generally.


How is rent seeking productive? Loaning out money and usury isn't productive. In fact it is the reverse, because EVERYTHING now has an element of interest attached to it, which means the price of everything and a small % goes to the bank on every £ I spent. How does this support businesses?

Thats not a million miles away from 'protection money'


G wrote:
By having a world renowned financial sector, we also bring a good bit of money in to the UK. .


Laughing


The only reason we bring in a lot of money through the finance sector is because London is not subject to reserve requirement or BASEL rules. Rather than any actual ability of bankers. Add in the tendency to only prosecute the odd patsy. You might remember quite a few massive frauds being put through London rather than other major finance hubs.



G wrote:
Putting the banking crisis purely at the feet of the people doing this job is massive scape-goating and ridiculous to my mind. Also rather silly they consider it an ongoing cost.


Er except considering ALL BANKING IS FRAUD and the fact that a whole load of money went to them and there have been rather few prosecutions. I feel my position on this matter to be quite tenable.
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