[Politics] The General Election Thread

[theonlymikey]

Good post.

How did the country cope before the cuts?

 

[Is it PotG?]

How did the country cope before the cuts?

I don't know. Which cuts are you referring to?

 

[nicko31]

Dividend tax up from 7.5% to 20% up to 50k total income **
Dividend tax up from 32.1% to 40% in that next band up.
Abolition of CGT annual exemption and entrepreneurs relief when retiring.
Greater income tax rate over £80k income.
Higher Corp Tax rate.

Are going to hit all the freelancers, small businessmen, one man band and husband and wife limited companies in a very big way in hard cash. Knowing many NSC’ers through pm’s etc over the years, there are an awful lot of people on NSC going to be hit hard (most from my knowledge Remainers and anti Boris).

** alone will cost a couple each earning £50k in total, from a company or two, £9,375 in additional annual income tax to quantify just one tax.

NOT a political comment, just a hard taxation fact.

People such a BBC, IT and Project Manager freelancers through a ltd co, earning per hour say £500 to infinity, are going to face eye watering increases in annual tax bills.

Interesting times to say the least. If elected.

Yes couples where one person does all the work and the wife draws a dividend for doing nothing, clearly going after tax avoidance to encourage PAYE

 

[Weststander]

How did the country cope before the cuts?

I’ll have to ask Tony, Gordon and Darling. Things didn’t seem too bad from 97 to 07 imho.

For an instant reply and guess, by not requiring £100B’s for the state buying up council farms, sovereign land, building millions of council houses, buying out privatised industries. So spending requirements were less.

A little known fact is that Brown, Darling and Osborne did increase the rates of many taxes, invent new taxes and some stealth tax stuff. Very ball park (I’m sitting on a train), that subtle approach worked with annual total receipts increasing from (back of fag packet) £480B to £680B in a period. Including VAT to 20%, NIC rates up and a new income tax on dividends for people owning shares eg in their own companies.

 

[vegster]

Oh right. So just clobber them where it hurts and hope they don't go elsewhere. Good plan

Plan 1, let the big companies carry on until the likes of Apple/Amazon/Google/Facebook run the world effectively.

Plan 2, tell them that they have to redistribute not all, but more of their profits in fairer wages and tax.


You may have noticed that many companies already go elsewhere in order to avoid tax, however, they all have to be somewhere so a global policy of fairer taxation will leave them with nowhere to go.

 

[vegster]

'BBC' 'suggesting' 'could' 'one person's opinion?'

No direct quote from a LibDem member.

They only handed out their manifesto a couple of days back, I can't see much changing in 48 hours ? seems a little bit of a suspect Tweet there.

 

[theonlymikey]

I don't know. Which cuts are you referring to?

Tax cuts. Will raising them back to 2010 levels mean anything major?

 

[Weststander]

Yes couples where one person does all the work and the wife draws a dividend for doing nothing, clearly going after tax avoidance

The tax law on dividends from the age dot isn’t about who the brains is, it’s always been about the investment in shares set up on incorporation.

You’re quite rightly highlighting the lie on salaries. Tax legislation covers this and in private HMRC investigations many of these are caught and pay a heavy price. Definitely more needs to be done to catch the rest. People also do this in paying adult children eg to subsidise at Uni or globe trotting, when in reality they do zero work.

 

[vegster]

IFS spokesman on Politics Live: - no other country raises this amount of tax from corporations and the rich alone. All other countries that have significantly higher tax burdens than the UK have higher tax burdens on those on middle incomes.

Sadly there are a dwindling amount of " Middle Income " families, it's polarising to the Haves and Have Nots.
A small example from a couple of months back, flyers were dropped off in the staff room advertising a local Dog Walking service , they charged £10 an hour for walking a dog, most of our staff are earning less then that. However, there are people willing to pay this amount of money to have their dog walked, but probably wouldn't pay their workers much above minimum wage.

 

[beorhthelm]

How did the country cope before the cuts?

i dont believe there are any cuts being reversed in that list (there are some elsewhere, corporation tax), its fresh tax rises. if the target is wealth and avoidance, there's going to be a lot of collateral damage. its easy pickings from middle class, slightly well off, non-Labour voter. im sure they'll be able to afford it, if Labour get to enact the policy.

 

[KZNSeagull]

Plan 1, let the big companies carry on until the likes of Apple/Amazon/Google/Facebook run the world effectively.

Plan 2, tell them that they have to redistribute not all, but more of their profits in fairer wages and tax.


You may have noticed that many companies already go elsewhere in order to avoid tax, however, they all have to be somewhere so a global policy of fairer taxation will leave them with nowhere to go.

So how will the Labour Party introduce a fairer GLOBAL taxation policy?

I agree that the likes of the companies that you have listed have to pay their way. In Amazon's case, up until recently they didn't make a profit, so an alternative way of taxation GLOBALLY has to be found. Making the UK less attractive though is not going to help anyone in the long run.

All that will happen if Labour tries to grab too much too quickly will be that the MANY will end up footing the bill as usual as the FEW will have buggered off elsewhere.

 

[Weststander]

Plan 1, let the big companies carry on until the likes of Apple/Amazon/Google/Facebook run the world effectively.

Plan 2, tell them that they have to redistribute not all, but more of their profits in fairer wages and tax.


You may have noticed that many companies already go elsewhere in order to avoid tax, however, they all have to be somewhere so a global policy of fairer taxation will leave them with nowhere to go.

I’d love that. The Netherlands, Lux and Ireland have made fortunes, from being the very low tax HQ’s of these multinational tax evaders.

 

[nicko31]

First twitter, now google

Good to see them clamping down on micro targeting of political advertising

https://www.bbc.co.uk/news/technology-50498166

When are FB gonna do the same?

 

[Granny on the wing]

At least somebody cares about the students.

Wonder how many on here got free education, and now refusing students to have the same privilege?

Labour want to encourage more students to get more left wing votes .but what about the school leavers who are not academic what happens to them ? They end up as the working class ,remember them ?

 

[Weststander]

So how will the Labour Party introduce a fairer GLOBAL taxation policy?

I agree that the likes of the companies that you have listed have to pay their way. In Amazon's case, up until recently they didn't make a profit, so an alternative way of taxation GLOBALLY has to be found. Making the UK less attractive though is not going to help anyone in the long run.

All that will happen if Labour tries to grab too much too quickly will be that the MANY will end up footing the bill as usual as the FEW will have buggered off elsewhere.

One thing I’d say is that Amazon, Apple and Starbucks will never stop selling in the UK, it’s a huge marketplace.

We could deal these types of entities with some sort of corp tax system based on UK sales, if they carry on with their tax evasion.

 

[theonlymikey]

Labour want to encourage more students to get more left wing votes .but what about the school leavers who are not academic what happens to them ? They end up as the working class ,remember them ?

I hope so I'm one of them.

Vote Labour.

 

[nicko31]

One thing I’d say is that Amazon, Apple and Starbucks will never stop selling in the UK, it’s a huge marketplace.

We could deal these types of entities with some sort of corp tax system based on UK sales, if they carry on with their tax evasion.

How about internet sales tax of 2.5%, only way to avoid is make an store purchase

 

[BensGrandad]

Labour want to encourage more students to get more left wing votes .but what about the school leavers who are not academic what happens to them ? They end up as the working class ,remember them ?

Unfortunately they are the ones Labour are targeting simply because they are too young ti remember what a cock up Labour have made every time they have been elected and left the country in deep debt that has taken years of austerity to rectify.

 

[A1X]

*Chortle* *Snigger*

[TWEET]1197519769890672640[/TWEET]

[TWEET]1197519801561833480[/TWEET]

 

[Weststander]

How about internet sales tax of 2.5%, only way to avoid to make in store purchase

Wouldn’t it have to be something more refined?

Waterstones and John Lewis already pay full UK taxes, including on internet sale profits.

Apple, Dell and Amazon don’t. With the bent ‘franchise fee’ from their Irish, Dutch or Lux parent as good as wiping out any chance of a UK profit subject to corp tax.

We wouldn’t want hard pressed honest retailers hit too.