stewie griffin
8:53 Thu Dec 4
Re: the Autumn statement
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haha, Branded!
sock0 - oh don't get me wrong, I get it, just think it's pretty heartless. Still, you could probably argue the same about any tax.
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riosleftsock
8:50 Thu Dec 4
Re: the Autumn statement
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Stewie, the principle of inheritance taxes is a good one for very wealthy people.
Mainly because unearnt income causes a massive drag on a capitalist economy because it normally sits around doing very little and does not provide reward nor risk.
The problem is when you tax inheritances of a smaller value, say less than 1m - it actually harms the economy as it discourages openness and spending and reduces tax revenue.
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BRANDED
8:49 Thu Dec 4
Re: the Autumn statement
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I know clever people who avoid inheritance tax completely and stupid people who end up paying loads. Its the way of the world.
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stewie griffin
8:45 Thu Dec 4
Re: the Autumn statement
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There's an element of that I can see, Gavvy, but if you ask most parents why they've saved money, they'll say it's because they want to leave something for their kids. So what do we do? Before they're even cold, we take half that wish away from them. Evil shit, that.
Still, the baby boomers have put paid to that. Fucked the world up, saved fuck all, and leaving everyone else to clear up their mess
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Gavros
8:43 Thu Dec 4
Re: the Autumn statement
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Of course such a swingeing tax wouldn't be workable in the real world. Theres always ways and means to transfer money under the nose of the tax man.
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Gavros
8:41 Thu Dec 4
Re: the Autumn statement
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If I could, id place a limit of about the value of a house on all inheritance. I think its right that people have to make their own way in life.
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stewie griffin
8:39 Thu Dec 4
Re: the Autumn statement
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Comma,
To a degree, yes, but since the loan is unsecured the means testing procedure is limited. As such, they ask a series of questions upon application about monthly income and outgoings to gauage whether a person can repay or not. Contrary to popular opinion, they do not arbitrarily hand out money to anyone that applies, and once that information is entered, the applicant is asked again if they are sure that the information is correct.
If people's circumstances change over the loan period, they have my sympathies - and those of the loan companies as it happens - but they cannot be held accountable for people lying, or failing to meet repayments they agree to.
Surf - you know what I mean..,, happy to agree to disagree on inheritance tax as I know its not commonly held view, but it'd be the first thing I'd abolish. I just find the whole concept ludicrous.
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SurfaceAgentX2Zero
8:20 Thu Dec 4
Re: the Autumn statement
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stewie griffin 6:18 Thu Dec 4
'Those that have inherited it, less so (although I thnk inheritance tax is a farce anyway, taxing someone for dying, ffs).'
You aren't taxing people for dying, you're taxing people who have done nothing to earn it for receiving windfall income from dead people.
I do also understand that people have the right to hand down wealth they have created.
It's a very tricky issue. Inheritance tax is one of the least unfair taxes there is. As long as it is set at a reasonable level.
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Gavros
8:20 Thu Dec 4
Re: the Autumn statement
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:-(
I'm much more credible than the OBR.
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Brussels Sprout
8:16 Thu Dec 4
Re: the Autumn statement
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You've clearly got a rather limited knowledge of the civil service if that is your view, Gavros.
The OBR (who I place a little more faith in than you) have queried whether the savings needed are attainable.
Vat rise is on its way.
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SurfaceAgentX2Zero
8:15 Thu Dec 4
Re: the Autumn statement
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After8 5:24 Thu Dec 4
No. You haven't answered the question at all and I really was very clear.
You said Labour produced less and less tax from the rich.
You said a 45% higher tax rate produced more revenue than 50%.
And yet, for all but a couple of months Labour's tax rate was 40 per cent. Which is lower than 45% last time I checked.
Does a lower top rate produce higher or lower revenues? You appear to want to have it both ways.
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Gavros
8:12 Thu Dec 4
Re: the Autumn statement
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That might some of you civil servants actually working brussels, you bone idle twonks.
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Brussels Sprout
8:09 Thu Dec 4
Re: the Autumn statement
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The spending cuts for Government depts needed for a balanced budget are far too deep. Vat will surely have to be raised post-election, no matter who is in power!
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Gavros
7:27 Thu Dec 4
Re: the Autumn statement
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*justin case the Duchess is reading this, no that doesnt imply that black people were responsible for the financial crisis*
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Gavros
7:26 Thu Dec 4
Re: the Autumn statement
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funnily enough it was a loosening in legislation brought in by Clinton in 1999 to get more black people to by into their own homes that ultimately sowed the seeds for the financial crisis.
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,
7:23 Thu Dec 4
Re: the Autumn statement
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The old fashioned loan shark had the perfect business model. Low overheads because he had no premises and no need to advertise. He could tailor his rates to each individual and defaulters knew the cost of failing to repay.
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Dapablo
7:19 Thu Dec 4
Re: the Autumn statement
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I personally wish the rich cunts who got our economy fucked would be responsible for their bad borrowing, they should know better than even the thick poor, should they not.
... but no give them loads more money, after all they'll spend it at the pub and feed the economy.
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Sven Roeder
7:13 Thu Dec 4
Re: the Autumn statement
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Payday loan internet companies may have been around for 10 years but am sure there have always been informal local loan sharks lending at extortionate rates.
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Marston Hammer
7:08 Thu Dec 4
Re: the Autumn statement
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The thing I don't get about these payday loans companies is that people complain that they charge sky-high rates to make huge profits.
If this were true, why doesn't someone come in, massively undercut them and take control of the entire market?
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Literal Paul
7:00 Thu Dec 4
Re: the Autumn statement
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i always look forward to the autumn statement around this time of year
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