VAT reduced, rich taxed more
So Darling in his pre-budget report announced that VAT (sales tax for those non-UK readers) will be cut from 17.5% to 15% from the 1st of December.
Good. We'll see if in a few weeks time I'll have people asking if all our £39.99 products are now £39.14 or there abouts. I'm sure a lot of retailers will be keen to soak up the decrease, especially as it so small and easy to hide. However in more competitive areas like on the high street I'd expect it to be used to fund more aggressive offers to get people in the door.
He also announced that income tax will rise to 45% for those earning over £150,000 a year from 2011.
Good. But why not 50% or more and starting next month? Honestly, £150,000 thats more than I earn in 10 years! These people can easily afford it and in many cases have been making money at our expense for years.
The government is definitely moving in the right direction to tackle this crisis.
As for the Tories, well you only needed to see their childish behavior during the Chancellor's report yesterday to see that not only don't they take things seriously but that they're living in cloud cuckoo land when they try and blame a global economic downturn on Gordon Brown and Alistair Darling personally.
25th November 2008 03:37:56, 215 words, 2415 views
2 comments
Hey Paul, you're a smart chap. I know you are, I read your blogs, they're great.
But what's with the 'they can afford it' line. That's no justification for taking something from someone - just the fact that they have enough. Homeless people don't wander into your kitchen and start fixing themselves a snack on the basis that you've got more than enough food for yourself, do they ?
Making money at 'our' expense ? Which us is this ? The people that choose to go and work FOR someone else ?
Oh life's so unfair - my boss rents out my services for more than he pays me and pockets the difference !! Goodness me, whatever next.
Unless you live in a hole in the ground, picking and hunting all your food, not taking part in commerce whatsoever, then the money you obtain and use is profit from the net results of all your commercial interactions. You make money from the people that pay you, and to pronounce that anyone else doing the same is somehow immoral because your assign them to a category of people into which you do assign yourself is intellectually bankrupt.
And why are you only earning 15grand a year ? Someone of your intellect should and could quite easily be earning over the threshold for this new taxation, and at that point if you were to start complaining I would certainly have far more cause the listen.
Keep up the good works, sir - I will always read with great interest anything that comes upon these pages :)
More debunking !!
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