Re: Corbyn's kerfuffle
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Re: Corbyn's kerfuffle
Its one of those "politics of envy" things that plays out fantastically well in the North Islington maxist commune, but makes very little economic or wider political sense.
First off, on the economics side, those super high earners (big players in the City, big players for City) can either structure their finances to avoid such a punitive tax rate or simply move away to another country (Europe, the US or even Ireland) to avoid it. This will hit our economy at a time it needs as much stimulus as possible. As for the politics, the one question every Labour Cabinet Member, MP or spokesdroid will be asked from now until Brexit is "what level is the earnings cap going to be set at?" Its a classic Corbyn "back of a fag packet" policy that's as well thought through as his "women only carriages" one... ---------- Post added at 12:42 ---------- Previous post was at 12:38 ---------- Quote:
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Re: Corbyn's kerfuffle
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Re: Corbyn's kerfuffle
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There was a temporary dividend to the treasury of £8bn as higher rate earners moved their income declaration into the lower rate year. Putting it back up wouldn't make loads of money available either as with many taxes there is an optimum rate that maximises revenue. Too high a rate is a self inflicted wound to a countries finances, just ask the French who are now desperate to bring down their swinging top rates as all their high earners come over to London. |
Re: Corbyn's kerfuffle
Some people clearly never learn from past mistakes and I'm not just referring to the Islington elite. They don't even learn from the more recent mistakes made in France. It's quite bizarre but that's political dogma for you.
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Re: Corbyn's kerfuffle
The French example is a lesson in that high taxes on the rich do not raise the revenue expected:
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They have now, very quietly, reduced this rate down to 50%. |
Re: Corbyn's kerfuffle
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Re: Corbyn's kerfuffle
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Re: Corbyn's kerfuffle
Maybe they should start with wage levels paid to civil servants and local government employees? And also include members of parliament and their aides? And make pensions for those posts only payable from the State Pension Age, the same as the rest of us?
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Re: Corbyn's kerfuffle
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Sadly though rather than think of things to even things up it seems some people would rather poo poo it completely and hark back to days before most of us were born, nothing has to be extreme and it's probably doomed if it is. |
Re: Corbyn's kerfuffle
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Re: Corbyn's kerfuffle
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It might impact the Chief Executives of some Government organisations though. Corbyn is all over the place anyway. I suspect he meant a real pay cap and added this ratio thing at the last moment after his aides saw the reaction. It's an utter mess at the moment and I fail to see what Corbyn's goal actually is by continuing as leader other than to allow a far-left take-over of the party or actual delusion that it's going well so far. |
Re: Corbyn's kerfuffle
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Re: Corbyn's kerfuffle
Yet another of Corbyn's ideas has gone down well:
http://www.independent.co.uk/news/uk...-a7519681.html Quote:
Corbyn is totally out of his depth and being exploited by a load of hard left lunatics who're in denial I reckon. |
Re: Corbyn's kerfuffle
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https://www.incometaxcalculator.org....-salary-uk.php https://www.instituteforgovernment.o...rvice-salaries Now, if you had said top Civil Servants (of which there aren't that many...), I would have probably agreed with you... |
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