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Post by zeopold on Jun 30, 2022 21:13:30 GMT
In other news I am enjoying how Mick Lynch seems to have become a folk hero and a majority of people seem to support the strikers Anyone who knows right from wrong would support the strikers anyway. Lynch adds value to his role by presenting convincing arguments to the wider public. |
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Post by Lord Emsworth on Jul 1, 2022 6:21:59 GMT
Pol, I don't have thought through policy proposals on tax but it's clear we need to reduce the gap between the richest and the poorest, bring people out of poverty, and increase social mobility. There are many ways this could be achieved. The current policies and processes are counter productive in terms of these outcomes
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Post by doug61 on Jul 1, 2022 8:41:28 GMT
Pol, I don't have thought through policy proposals on tax but it's clear we need to reduce the gap between the richest and the poorest, bring people out of poverty, and increase social mobility. There are many ways this could be achieved. The current policies and processes are counter productive in terms of these outcomes Social mobility is largely a myth, people are far too much victims of the circumstances of their birth. Lack of inner city investment was purposeful to ensure that never changed. |
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Post by Lord Emsworth on Jul 1, 2022 10:02:26 GMT
Pol, I don't have thought through policy proposals on tax but it's clear we need to reduce the gap between the richest and the poorest, bring people out of poverty, and increase social mobility. There are many ways this could be achieved. The current policies and processes are counter productive in terms of these outcomes Social mobility is largely a myth, people are far too much victims of the circumstances of their birth. Lack of inner city investment was purposeful to ensure that never changed. True but current policy has seen it decline year on year Investment in education is the only realistic way to enable future generations to escape from unpromising early circumstances |
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Post by politician2 on Jul 1, 2022 12:57:01 GMT
Pol, I don't have thought through policy proposals on tax… I don't need a detailed and costed manifesto. I'm just curious to get a general idea of where you think income tax rates should be. We currently have a top rate of 45% plus 3.25% employees' national insurance (if the person is employed or self-employed) plus 15.3% employers' national insurance (if the person is employed). How much higher would you like to see that 45% go? 50%? 60%? 95%? |
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Post by Lord Emsworth on Jul 1, 2022 15:42:50 GMT
60% for over £100k sounds about right - it only effects a tiny proportion of the population (c 1 million people) about 50,000 people earn over £1m pa
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Post by politician2 on Jul 1, 2022 15:52:09 GMT
60% for over £100k sounds about right - it only effects a tiny proportion of the population (c 1 million people) about 50,000 people earn over £1m pa I suspect that might push things onto the wrong side of the Laffer Curve, given national insurance (the total tax contribution on marginal income of an employed person would be 78.55%). Do you believe in the Laffer Curve? |
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Post by Lord Emsworth on Jul 1, 2022 16:04:12 GMT
I don't know anything about the Laffer Curve
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Post by politician2 on Jul 1, 2022 19:28:09 GMT
The Laffer Curve, proposed by the economist Arthur Laffer, posits that tax revenues increase as rates go up, but only up to a certain point – beyond that, receipts actually fall as people change their behaviour (entrepreneurs stop investing, people stop doing overtime or accepting promotions, people go part-time, tax avoidance and evasion increase, capital flight takes place, etc.).
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Post by zeopold on Jul 1, 2022 19:35:37 GMT
The Laffer Curve, proposed by the economist Arthur Laffer, posits that tax revenues increase as rates go up, but only up to a certain point – beyond that, receipts actually fall as people change their behaviour (entrepreneurs stop investing, people stop doing overtime or accepting promotions, people go part-time, tax avoidance and evasion increase, capital flight takes place, etc.). That's fine. The ideal tax system would discourage people from chasing money once they have enough. Cheats should be pursued relentlessly and subject to draconian penalties. |
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Post by politician2 on Jul 1, 2022 20:21:29 GMT
The Laffer Curve, proposed by the economist Arthur Laffer, posits that tax revenues increase as rates go up, but only up to a certain point – beyond that, receipts actually fall as people change their behaviour (entrepreneurs stop investing, people stop doing overtime or accepting promotions, people go part-time, tax avoidance and evasion increase, capital flight takes place, etc.). That's fine. The ideal tax system would discourage people from chasing money once they have enough. Why? Entrepreneurship creates employment opportunities. High earners pay tax at much higher rates than their lower-earning counterparts. A punitive taxation system, such as you advocate, is economically counterproductive. |
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Post by zeopold on Jul 1, 2022 21:16:07 GMT
That's fine. The ideal tax system would discourage people from chasing money once they have enough. Entrepreneurship creates employment opportunities. Up to a point, beyond which it's just greedy ****s exploiting working people for obscene profits that they hoard or squander on tacky bling. A rigorous tax system with revenues invested in public works projects will also create employment opportunities, but with more social value. |
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Post by politician2 on Jul 1, 2022 21:19:55 GMT
=Up to a point, beyond which it's just greedy ****s exploiting working people for obscene profits that they hoard or squander on tacky bling. A rigorous tax system with revenues invested in public works projects will also create employment opportunities, but with more social value. Also up to a point. If tax rates go beyond the peak of the Laffer Curve, it will create far fewer opportunities with much less social value. |
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Post by zeopold on Jul 2, 2022 9:47:02 GMT
=Up to a point, beyond which it's just greedy ****s exploiting working people for obscene profits that they hoard or squander on tacky bling. A rigorous tax system with revenues invested in public works projects will also create employment opportunities, but with more social value. Also up to a point. If tax rates go beyond the peak of the Laffer Curve, it will create far fewer opportunities ...as in 'opportunities' for unfortunate wretches to toil for peanuts so some greedy **** can have another Lambo. |
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Post by politician2 on Jul 2, 2022 10:02:24 GMT
...as in 'opportunities' for unfortunate wretches to toil for peanuts so some greedy **** can have another Lambo. Yes, fewer opportunities for people to gain employment as a result of someone else's entrepreneurship and build careers for themselves. |
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