ingliz wrote:No, I am saying if FTSE 100 shareholder payouts can increase nearly seven times faster than workers' wages when times are bad - FTSE 100 lost -12% in 2018 and -14% in 2020 (your numbers) - why can't workers' wages rise at a similar pace?
No? You are saying it indeed, that wages should rise the same as FTSE 100 in the good times but that they should not fall by -(minus) in the bad times. Magic is not possible, but what is possible is to go the commie way and equalise everybody down by government fiat which is what you commies consider "fair". We should all be poor to show these people who dare make more money than we do.
Pink unicorns combined with criminal jealousy.
Rich wrote:No it wasn't, because the cut of 45p to 40 was combined with cancelling the planned increase in corporation and capital gains from 19% to 25%. So under Trusses plan the gap in rates was going to be 21% rather the 20% difference under Sunak's plan. So no this was about increasing borrowing, making the tax system less efficient in order to funnel money to the richest and increase inequality.
It's quite funny how people like Keir Starmer, yourself and others already consider a non-increase to a tax as a giveaway to the "rich". It's quite surreal stuff. Truss announces that corporation tax will stay the same and she is being accused of giving away "billions to the rich".
The "rich" do not pay taxes in this country or anywhere in the western world actually. And unless western governments do not agree on a global tax regime for rich companies, it will never happen.
The companies that do pay corporation tax are the little mom's and pop's stores, hotels, restaurants who have no ability to transfer money in Ireland and other tax havens.
This group of companies have been dealt a triple whammy of double wages, no staff to operate, 20 times higher energy bills and a 30% increase on their overall & aggregate taxation as well as reduced revenues.
The result, by next year several thousand of little companies will go bust and more than enough people will lose their jobs so that we attain a regular unemployment rate of more than 6%, it could even go as far as 15% but who cares right?
The reality is quite simple really.
Our economy's supply side is unable to match the demand, Rishi's contractionary plan is aimed to reduce demand to the levels that supply can provide. Tax them enough, so that they spend less, go out less, eat less so that demand comes down to what supply can provide. Truss's expansionary policy is aimed at increasing supply so that it can match demand before the crunch on our economy happens. Crunches are catastrophic to an economy.
Under Rishi's plan you are looking at a massive GDP contraction, thus making everybody poorer and under Liz's plan you are gambling whatever little you have left to prevent a further contraction by telling companies to find the ways to increase their output so that demand can be satisfied.
The reason this happened is because of our awful election system. First past the post, unfixed elections of anything up to five years and American style primary elections for leaders. This means that Truss won by pandering to her electorate, the conservative party members who are a tiny percentage of the population and totally unrepresentative in terms of age, income, property ownership and many other things.
You are absolutely deluded to believe that Keir Starmer could challenge the Tories before this past month.
This past month what we have witnessed is quite unique, we have witnessed Biden, the IMF, the World Bank and a series of foreign people trashing our government for doing precisely what they were elected to do and several times over
by very high margins. And despite the u-turns, these guys are still relentlessly attacking our economy, stock market, currency and bonds.
Behind all this is of course Brexit, but please do not let reality come in between a good virtue-signal.
Lastly, the overall tax burden in the UK is close to 30% of GDP while in the US it is closer to 10% of GDP.
Still we are being maliciously lectured and having our economy sustaining a barrage of cannon attacks because some people consider this to be fair. Useful idiots included.
We have the highest overall tax burden since 1948 already, we have massive structural problems in our labor market and your solution is to increase taxes by 20-30% further? because that way you get to pretend that you are taxing the "rich".
But you 're really not taxing anybody, tax receipts will go down overall, the economy will contract, benefits will be cancelled and everybody will be miserable.
We've seen the movie before a million times.
To make matters worse this tax increase policy is being championed by Rishi Sunak, a multi-billionaire whose wife is not even a UK tax resident and supported by the IMF, who is the spearhead of national impoverishment but no red flags happening for you guys?
Mmmmkay....
EN EL ED EM ON
...take your common sense with you, and leave your prejudices behind...