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General Election 2017
- Thread starter Giraffe
- Start date
Look at the new IFS report on Labour's proposed 26% Corporation Tax rate.
https://www.ifs.org.uk/publications/9206
The IFS are regarded as unbiased and respected by all parties, included Labour.
In the medium to long term the huge % hike would not give the extra tax revenue envisaged, companies would invest less in the UK, in an increasingly competitive world we would lose companies and jobs, and most telling there is evidence that higher CT often leads to lower wages.
A sure fire way to harm the UK economy and workers, when we will need all the business we can get to counter the initial uncertainties and changes to our economy from Brexit.
It's frightening that McDonnell simply gets his calculator out and takes a crude % rise in tax, as guaranteeing £B's of extra tax take, ignoring all historical examples and the unbiased views of bodies with experts on this very subject.
beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 35,310
for now. and if it rises 1, 2, 3% in the coming years? which it shirely would if you want to control the inflation throwing so much cash into the economy would do. that graph would suddenly go south again. esitmated deficit for 2016/2017 is £14Bn, just about to get clear and start paying back the debt... Labour would make it -39bn the first year.
the bigger problem is the open cheque nature of this policy, no specific targeted infrastructure projects, just a promise to throwing cash into the economy and hope projects needing £25bn every year will be economically productive or even needed. how many hospitals, schools, roads can you build for that each year? quite alot, and they'd be empty because the promise to maintain "Fiscal Credibility Rule" and not borrow for running costs. see its not quite all together sensible or even practical. there may be good policy in Labours manifesto, and its honest on tax and spend, but this one is madness.
As long as it doesn't hugely increase corp tax to drive out businesses employing millions from the Uk, introduce spiteful personal taxes on high earners with a similar effect, or embark on dogmatic renationalisations, then it will be better for the country than the 1980's hard left manifesto revealed yesterday.
larus
Well-known member
And at the same time, lets round up all of the disabled who can't contribute to society and kill 'em too.
I guess you must be about 18/19 with mature/intelligent comments like that. If you're older then maybe you need to grow up a little.
I'll let you into a little secret. Life isn't fair. Life has never been fair. And life is never going to be fair. It's about what you make of it, so whinging about old, rich people is pathetic.
Wrong-Direction
Well-known member
- Mar 10, 2013
- 13,422
Spoken like a true brainwashed conservative [emoji23] [emoji23] [emoji23] [emoji23] [emoji23]
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Their plans were mocked on TV today as allegedly raising an additional £48b in taxes, which miraculously exactly matches the £48b in new spending. With no mention of the cost of all the renationalisations, not forgetting increased compound borrowing costs and higher borrowing costs in general from the global markets view on the high tax and even higher borrowing economy.
Does that include Simmo, he's a rich plumber, they all are.
Wrong-Direction
Well-known member
- Mar 10, 2013
- 13,422
You're right though, life isn't fair and the disabled should just make the most of their existence, they don't deserve help and should be left to rot. Young people working 2 or 3 jobs and still struggling to pay their rent/bills should stop effing whinging the *******s! How dare they want to own their own home! If anything the poor should have to start paying to use the NHS if they need it, hopefully they'll soon all die out they're so selfish!
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larus
Well-known member
Actually, I despise all politicians really. I know that they are all in it for themselves - snouts in the trough.
I do believe in rewarding hard work and success.
I don't believe in punitive taxation (in excess of 40%).
I believe in a free NHS and education system.
I believe in a strong defence policy.
I believe that unions should be there to protect workers and not abuse their power.
I believe the excesses in boardrooms should be controlled.
I believe in decriminalisation of drugs as it's been proven that it doesn't work.
I don't believe that welfare should be a life-style choice, but it should be there to protect the needy and vulnerable.
I believe that we should be building many more houses, as one of the biggest problems in this country is caused by the cost of living somewhere, either renting or buying.
I don't believe that the final salary pension schemes which so many old people are 'entitled' to are fair, as these are being paid from current taxation and this is in effect impacting the young too much.
If you can discern my politics from that list, please do.
However, you continue to show your immaturity by making pathetic comments which add nothing to any debate. Exactly as you did on the BREXIT thread.
[MENTION=23494]big gull[/MENTION]y talking nonsense. Two weeks ago he was trying to convince us that a house priced at 70k was as affordable as the same house priced at 4 times as much 20 years later. It was proper back-of-a-fag-packet stuff. Then, last week, he was stating UK rail (if you removed Southern) was comparable to Deutsche Bahn. Sadly, as much as we'd all want, you can't just remove Southern rail
And now this. I'm with you; I go out with people of different ages, sexes and backgrounds. Like you, I'm older and financially okay (not bragging; more having no kids and bugger all to spend money on other than myself), and I buy drinks but I don't expect anything in return. I also have friends with kids, students kids etc; wouldn't dream of expecting them to buy me a beer (especially as I drink poncy stuff.). I know when people take the piss... but no one does.
Anyway. Talking of beer I have had a long day at work and a few in Brewdog (Freitgeost tap take over: Surfin' IPA, Smoked Apricot Gose, Lervig Supersonic Double dry hopped Imperial IPA and a Russian Liver Imperial Porter infused with date syrup) so it's bed time.
Guten nacht.
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Very similar to my views. I would add that i have two sons in their early 20's, no chance of getting on the property ladder. So like you i would like more houses built, but how can we keep up with mass immigration. Now we need to build for an influx of over 330,000 NET after emigration a YEAR, just to keep up there.......then we build for those that are already here eh.......yeah ok.......Abbott can do the maths.
I recall those two assertions you mention in your first paragraph. Hopefully they were kicked into touch by facts in the end?
Facts? I think all normal people know that a house at 70k is more affordable than one at 280k. And UK Rail? Really? Does anyone need to explain?
nicko31
Well-known member
Just shows you can go to Eton but still be as ignorant as pig sh1t
highflyer
Well-known member
- Jan 21, 2016
- 2,435
Genuione question - did you actually read the blog I linked to?
I don't know what country you live in but it surely cannot be this one. Benefits stopped being any kind of a lifestyle choice a long, long time ago. Anyone who seriously believes they still are has absolutely zero awareness of the welfare system beyond what they read in the daily mail. Fact.
nicko31
Well-known member
glasfryn
cleaning up cat sick
she might use dave
about 10k erm you missed out a 3 and two 00's I am not leaving the party and has anyone seen my daughter
Kalimantan Gull
Well-known member
Top rates of corporation tax in the USA are 35%, but you don't see companies running out of that country. Its scaremongering that we would lose companies and jobs because of that. 26 % isn't even that high for Britain, it was higher than that right through the 80's and 90's up to 2010 and our economy has been just fine during that time, Thatcher didn't drop it lower than 30%, a higher rate than johnny socialist is proposing.
It's a common belief that reducing marginal tax rates would spur economic growth, but studies show that growth is not correlated with changes in the top tax rates. Growth is more likely to spur if lower income earners get a tax cut.