Jeremy Corbyn suggests earnings cap

[Herr Tubthumper]

He does realise that's the best way to lose a bunch of talented people to O/S business and industry does he not?

Or voting for Brexit?

 

[ALBION28]

I actually like the fact that this has been raised for debate. That is what Corbyn is doing. As I am of a certain age I do remember a Britain that was more egalitarian in its wage structure. Footballers were not paid £massive or bankers or even politicians. There was near full employment. All got thrown away in the eighties/nineties with the sell off of Britain. What we all owned became what the few owned. We were conned into this with the promise of trickle down. Many did well out of this, but as I felt at the time, this effect would be short term. What of the next generation? I mean, sell off the council houses and not replace them! Thus pushing the next generation into buying or renting, both driving prices. You end up with a population on one side of a divide or the other. Rich getting richer poor poorer. Ultimately we will end up with one private owner of everything. Surely if we look abroad we can see alternatives that work for more of the nation. In Scandinavia they chose an opposite direction to the UK . This has led to high employment ,well paid jobs. The economy grows due to many customers having money to spend. The more the money circulates the better for all . The tax base spreads. Years ago I had a friend in Sweden who earnt twice my wage doing the same job. Years later they earn 4x my wage doing the same work. Whats not to like about that.

 

[Tyrone Biggums]

Or voting for Brexit?

I wouldn't have thought the greatest minds of a nation give a shit about politics. That's why none of the greatest minds of a nation are politicians.

 

[Herr Tubthumper]

I wouldn't have thought the greatest minds of a nation give a shit about politics. That's why none of the greatest minds of a nation are politicians.

True, I've never wanted to be a politician.

 

[Lower West Stander]

I assume you are probably right - he'll seemingly always value his principles above his ambitions. Quite a refreshing change from the rest of them, don't you think?

If that's the case, why did he run for the party leadership?

And some of his principles could be considered pretty unpleasant, especially with regard to some his foreign policy views...

 

[Lower West Stander]

No he doesn't , if he did he'd admit his support for the IRA.

100% this

 

[ThePompousPaladin]

Oh god, haven't we heard this before with Dodgy Dave's Big Society idea - and what happened to that - another sound-bite idea that bit the dust once the powers that be realised it doesn't exist!

It could just that - a sound bite, will be interesting if anything comes of it, as ever the devil is in the detail, she could mean tax breaks for the 1% for all i know.

Is interesting though, if JC's position on the centre left is meaning the Tories go more towards the middle, can't be a bad thing. Politics is seemingly becoming more and more extreme, anything that corrects our course towards the centre can't be bad thing.

 

[ThePompousPaladin]

.... Ultimately we will end up with one private owner of everything. ...

 

[mikeyjh]

No it would seem he doesn't. That sort of thing plays brilliantly with young Momentum activists and Trotskyite union leaders but then again those are his support base. They play out terribly to the rest of the country. Once again he's preaching to the choir.

Contrast that with Farage who'd recite verbatim a combination of a Sun editorial and Donald Trump's twitter feed for three extra votes in the country. Corbyn is the more principled man yet he's got as much chance of leading the country as I have partnering Lewis Dunk at centre back against Newcastle.

And there's the irony isn't it - We've constantly been told that Brexit and the election of Trump was one in the eye for the establishment and professional politicians but professional establishment politicians are exactly where Farage in particular resides.

I suspect that capping the salaries of the most well paid bankers, for instance, chimes very well with Joe Public but it's portrayed as political suicide by the media and many here. Odd world we live in.

 

[Pavilionaire]

This week we've seen the leaders of our two main political parties espouse The Shared Society and a cap on earnings. I just despair.

Why do they feel the need to spout empty rhetoric and idealist bollocks?

I don't want my government to tell society how it should be organised or to tell business how much money each of us can earn. I just want it to do the following:

1. Tax simply and fairly.
2. Collect what is due.
3. Spend wisely.

 

[beorhthelm]

I actually like the fact that this has been raised for debate. That is what Corbyn is doing.

its good to raise debate, but theres no apparent objective, at least not stated. Corbyn says he'd like to see an earnings cap because of wage disparity. he doesnt really flesh out the discussion any more than that, no reasons for it or why its a Good Thing. its simply an article of faith that it is, so where is the debate? what will it actually achieve?

 

[sussex_guy2k2]

Mr Unelectable says something that proves his unelectability in politics shocker.

 

[FatSuperman]

Quote me a realistic timeframe on 'ultimately'?

This is possibly the most Supply/Demand based market ever seen as for all its faults much of the World wants to live in the UK (and in particular the SE Corner in and around London), the only way house prices will 'crash' is if the population of the UK goes into steep decline over the next 10-20 years and there is no indication of that at present...

I meant in the theoretical scenario where a preposterous (£40k) wage cap came into play. House prices overall would drop, as surely demand for £x00k houses would evaporate.

 

[dingodan]

never quite sure what advocates think a wage cap will actually achieve. many executives are paid their headline grabing salary and bonus as shares, would this be counted, along with all other loopholes and forms of payments in kind? why do we want to loose the 40% tax? remember over a quarter of tax revenues come from the top 1%, whos going to pick up the slack if they dont earn so much?

They won't just pay less in U.K. tax, they will pay nothing in U.K. tax, other than for the flight out of here.

 

[FatSuperman]

I have to admire your blind optimism that the super rich you seem to revere actually pay all the taxes they should pay, just like most of the rest of us!

Oh god no, I don't believe that for one second. The super rich pay nothing at all, and they wouldn't be affected by a salary cap anyway. They don't typically get paid a salary anyway.

It will be the high earners, on the sort of money normal folk would love to attain - your £100k people.

 

[jakarta]

I meant in the theoretical scenario where a preposterous (£40k) wage cap came into play. House prices overall would drop, as surely demand for £x00k houses would evaporate.

Fair enough - however I think the word 'theoretical' should be replaced by the words 'almost impossible to envisage'.

 

[London Irish]

Nice work by Jez today - putting all those fake anti-establishment Kippers on the spot

 

[Chicken Run]

Christ you're easily pleased. He doesn't impress me at all.

And you make it sound like he's the only principled politician we've ever seen. He isn't. Robin Cook was my idea of a principled man - swallowed a lot of stuff he didn't agree with for the greater good, but correctly realised that killing people in the middle east on the whim of a moron was WRONG, and so he resigned from the cabinet. Proper politician.

Corbyn is in fact, utterly selfish - he's more concerned with his grip on power within his party than the wishes of the country as a whole. And as for this, what a stupid idea. If you want to make a fairer society, implement a fairer tax system.

Totally agree with this

 

[studio150]

No it would seem he doesn't. That sort of thing plays brilliantly with young Momentum activists and Trotskyite union leaders but then again those are his support base. They play out terribly to the rest of the country. Once again he's preaching to the choir.

Contrast that with Farage who'd recite verbatim a combination of a Sun editorial and Donald Trump's twitter feed for three extra votes in the country. Corbyn is the more principled man yet he's got as much chance of leading the country as I have partnering Lewis Dunk at centre back against Newcastle.

Dunk will probably be above the threshold and therefore banned due to being paid too much

 

[Machiavelli]

Unusually, you and I will have to agree about your first sentence. The only real way to do something about inequality is at a global or at least supra-national level, and the likelihood of that happening in the current situation is not far off zero.
As regards your final sentence, the only reason why so much tax comes off the top 1% is BECAUSE THEY EARN SO/TOO MUCH, whereas SO MANY OTHERS EARN SO/TOO LITTLE. Even Theresa May recognises this now. The slack will quite easily be picked up by the 99% and they'd probably contribute one heck of a lot more, as they're neither as adept nor as inclined at the fiscal and financial chicanery as your beloved 1% are.[/QUOTE]

I wonder if in practice the other 99% will be as grateful to pay more tax as you glibly state on their behalf

They'll be more than happy to on the proviso that they're earning more money, which is precisely what I stated in that post and, rather helpfully, included capital letters: rather than calling me glib, try and engage with the issues.