Tidgy

How about sack all current tax, income, vat, etc etc and just pay +50% at point of sale instead?

More you spend, more you get taxed, buy a ford focus and you pay on 20k and it costs you 30k, buy a ferrari at 100k and you pay 150k.

Saves billions on tax office, tax enforcement etc etc etc, no need for calculations that seem to be wrong half the time so have to spend time (and therefore money) sorting it all out etc.

Sad Weevil

iTrader: (1)

Thing is, I've read the manifesto, and can't find anything in it that's radical or looney at all. In any other northern European country, it would be viewed as pretty much middle of the road Social Democrat stuff. And in reality, I suspect that most people in this country would welcome a lot of it. Can't see what's wrong with investing in education, the NHS, and the police, or committing to a n affordable housing programme for example. And as there is a pledge to not increase taxes for 95% of the population, what's the problem? Also taking back the water supply into public ownership seems a good idea, as does getting better value for money regarding railway subsidies by taking it back into public ownership, rather than paying the subsidies to German And French nationalised railways, who then pocket the profit and invest in their own systems. The Tories and popular press would have us believe that none of it is affordable, but there are plenty of economists out there who reckon that the costings are correct and attainable.

dpb

Theyre going to get rid of the debt by 2020 , as well as spending like mad

awesome !

Martin2005

I think where this goes wrong is that they won't be able to raise all the money they think they will, and the commitments will end up costing a lot more. Then you end up raising taxes even higher, and stifling the economy, and down we spiral again.

Dr Hu

Flat Tax system - has been bandied about for years by all and sundry - even high up in the Conservative Gov. never comes to anything though..... but it does seem sensible and far cheaper to administer...

jonc

Their manifesto does read like one big wish list. Raising income tax on the tiny proportion of the working public will not go anywhere near to covering the costs of what they propose. Take for instance the nationalising of the water industry, that industry alone is worth nearly £70bn and has already engulfed the £48bn they've costed in their pledges. Then of course there is also the matter of re-nationalising the railways and the energy industry. I would expect that £80k income tax threshold to drop further and/or large scale increase in the issuance of government bonds increasing the national debt and deficit. This made even more scary when the shadow chancellor didn't even know what the current deficit is.

Sad Weevil

iTrader: (1)

So we're told. Just being told "it's unaffordable" isn't really good enough. I would like to see the proper costings, for both party's manifestos. Also, there's a £34 billion tax gap (HMRC figures for 2016) which would help out a lot.

A flat tax and universal income would be worth looking at.

David Lock

So the fat cats on £1m plus just pay a bit on what it actually costs to live on - say £100k a year and get to keep the rest? The poor who spend 90% of their income on buying to live effectively pay tax at 50%

So HUGE loss in income to HMG and the rich just get richer. Plus ça change, plus c'est la même chose.

David

Dingdongler

I don't want us to turn into some kind of dodgy corporate tax haven but what would be the result of the proposed increases in corporation tax? Especially whilst we are brexiting??

Raising tax on the top 5 % will not pay for all these plans. We know that the mega wealthy will find loopholes or they will just leave the country. Those that will end up paying will be the earners on £80k to £150k. They'll also get caned by vat on school fees and tax on private health insurance.

A great way to encourage people to work harder and better themselves.

And even if the sums did add up and you could raise the money without corporations and the mega wealthy fleeing and the moderate high earners being disincentivised.....would you trust this group to spend that money wisely?

Diane Abbot at the home office? She fails at primary school maths.

McDonnell as chancellor?? Had no idea how much the deficit was.

Shami Chakrabarti??? She'll want to give legal aid to every terrorist bomber who wants to destroy our country and bogus refugees from around the world.

And then there's Corbyn himself. Not only did he appoint these people but he voluntarily put his ***** inside DIANE ABBOT ffs!

These are actually a very dangerous group of individuals.

Dr Hu

I had to LOL at this - hahahahaha

Tidgy

If they want to buy cheap stuff they pay less tax, if they buy expensive stuff they pay more. Simples.

David Lock

Do you live in the real world? Basic foodstuffs cost about the same. Asda/Aldi/Lidls being slightly cheaper than Sainsburys/Waitrose/Marks.
An old Ford costs £500. A second TV costs £50 etc etc. A family holiday every 3 years costs £1000. Christmas is expensive. Credit card companies will rip you off as will car insurance people.

The rich can go to Harrods Food Hall, the poor can't.

========

Footnote. The only people that could give Labour a fighting chance are David Miliband and Tony Blair but Blair dug his own grave some while back ably assisted by his drunken chum Campbell, The Daily Mail and the USA who screwed up the post Saddam plans.

DL

Martin2005

Flat tax sounds like a good idea until you dig a bit deeper.


The sales tax idea is daft because, if/when the economy slows, people will naturally spend less, and therefore tax revenue falls, and you can end up in a cycle of slowing economy, falling employment, falling spending and less and less tax revenue.


Most 'flat tax' projection I've seen show that middle and lower income bands would be significantly worse off, and the wealthy would flourish

Tidgy

I see lib dems are trying to buy voters by saying they will hold a second referendum lol.

Desperation has set in then lol

andy97

iTrader: (1)

Recent interview with some of his own constituents revealed they are sick of him going on about a second referendum. If he's not careful he will be beaten and no longer a MP. That would be a real shame

Tidgy

shame it doesn't happen to all of them,,,,

madscoob

iTrader: (3)

an example of fairer tax as follows and the goverment gets more tax
md pays himself 1.6million and avoids as much tax as possible workers (1000 of them get min wage) goverment gets next to fa
new system
md gets 600 thou tax free but has to give every worker 1000 a year more
they all lose 30% ish in tax n ni
and then spend the other 700 losing another 20% in vat WIN WIN gov gets more tax workers get more money and importantly spend it, putting it back into the economy wont ever happen though cos the minnions nust be kept under control

David Lock

No common sense has set in..........

May couldn't negotiate her way out of a paper bag and there is zero chance of 27 foreign countries agreeing to a decent deal for UK.

But it will gradually dawn on the thick British public that May is wrecking the country, buggering up Scotland and possibly taking the tentative Eire/NI peace deal back years.

So it will be no deal in a couple of years or carry on arguing for the next decade. But the EU itself will probably have imploded by then

David

andy97

iTrader: (1)

Didn't the ECJ just announce (yesterday)that the EU can make FTA deal solely without hardly any intervention of the independent governments?

Tidgy

stop putting your minority view above that of the majority, you lost accept it.

dpb

Best of three ?

neil-h

Yes because of course the Brexit mob would've just let it go if they lost. These things are easy to say when you backed the winning horse.

andy97

iTrader: (1)

You can have another vote in forty odd years

hodgy0_2

You are describing the Overton Window

it has been reframed to the right

https://en.wikipedia.org/wiki/Overton_window

David Lock

NO. Because I'm right and they, the HUGE 52% - - majority, are wrong. And I support the youth of this country whose future this is and not the shrill xenophobic Daily Mail readers, many of whom will be dead or dementiated by the time any deal is actually struck. Aren't I allowed to express an opinion or are you just another boring bully?

David

dpb

Lib dems are clearly the only party makes most sense , tax rises across the board


now get smokin ( unless you've psychotic tendencies )

David Lock

Bring back Jo Grimond I say - remember him? Thoroughly decent chap.

d

Uncle Creepy

No, you're allowed to express an opinion, however stupid it is!

About as much sense as your illiterate, thicko posts!

dpb

oh oh , a ukip supporter lol

Paben

iTrader: (5)

You're desperately in need of a medication change