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Political Issues

papaspur

papaspur

Eidur Gudjohnsen
I'd like this thread to be a place where we can share our political beliefs and opinions and debate them, while showing respect to each other. With that said, fudge political correctness.
Try to cite facts that would bolster your arguments.

I'll open the conversation with taxes because that seems to be a hot issue. I believe there needs to be a higher capital gains tax (should be MORE than income tax, not less), as well as higher taxation on the wealthy, not because I hate them, but because they can afford to. However, I want some of these tax increases to be passed off on entrepreneurs and small businesses, as they are usually the ones creating jobs, not large corporations who simply try to make the dollar/pound signs by laying off large portions of their workforce.
Does the UK allow corporations loopholes through which to keep funds offshore and avoid paying taxes? This is what most large corporations do in the US, and I'd be curious to see how many countries offer this, especially since our corporate tax rate is high.
 
Why would you invest money if it's taxed higher than income tax?

You want to tax job creators MORE??!!

90% of all new jobs are created by SME's.

We should make countries pay full UK tax or they can't trade here, that will sort it out.

The top 10% of earners, (higher rate tax payers on more than ?ú37k a year, hardly rich IMO) pay 58% of all taxes! The top 1% pay 27%!!

It seems to me you are ill informed and are adocating class-warfare.

This government has taken 750,000 people out of tax and will soon raise the threshold to ?ú10k a year for NO TAX, they have frozen the higher rate level so more people than ever are paying top rate tax, they've cut corporation tax as you advocate.

Income tax only raises ?ú155 billion a year, that's only 29% of the total!!

http://en.wikipedia.org/wiki/File:UK_taxes.svg

You could make the 'rich' pay 100% tax and it would only raise another ?ú60 billion a year. The current deficit is ?ú127 billion! As you can see, the bottom line is we are spenimg too much and we need to control spending.
 
As this is politics related, anyone know what happened to Dianne Abbot refrence her racist Tweets? Has she resigned/been sacked yet or has she got away scot free? Seems to have all gone quiet
 
I dont mind tax. I do mind when I see it wasted though, such as so many of the ridiculous (and expensive) schemes Labour introduced.

There is one tax though I feel is simply daylight robbery. Inheritance tax. It disgusts me.

Hopefully by the time I die I will have built up a nice pot of assets to pass onto my chilidren to help make their lives better in my absence. How on earth can it be justified that the government take a HUGE slice of that from them? Or any slice, for that matter.

They may end up getting loans and debt in order to pay the unfair tax in order to receive a small portion of what I intended for them. Makes my blood boil
 
In actual fact if a couple bought a relatively modest house in central London in the 1950's they would now be liable to pay inheritance tax when they die, and can't do anything about it. They are hardly rich IMO nd the house is their only asset.

You pay income tax, stamp duty, VAT, Fuel Duty, etc etc your whole life.......why pay a death tax on top of all that??

Disgusting and immoral.
 
Leeds Spur said:
In actual fact if a couple bought a relatively modest house in central London in the 1950's they would now be liable to pay inheritance tax when they die, and can't do anything about it. They are hardly rich IMO nd the house is their only asset.

You pay income tax, stamp duty, VAT, Fuel Duty, etc etc your whole life.......why pay a death tax on top of all that??

Disgusting and immoral.
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Can't they divest themselves of the asset in a controlled manner so that they don't pay death duty and their heirs (for want of a better word) don't incur a liability? It used to be able to be done, don't know if it can still be. Extending the theme, it's illogical to give your children a windfall and a tax bill on your death while they're (hopefully) grieving when they could make use of the asset while you're alive.
 
Gordinho said:
Can't they divest themselves of the asset in a controlled manner so that they don't pay death duty and their heirs (for want of a better word) don't incur a liability? It used to be able to be done, don't know if it can still be. Extending the theme, it's illogical to give your children a windfall and a tax bill on your death while they're (hopefully) grieving when they could make use of the asset while you're alive.
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Property and businesses aside, it's far better to invest it in antiques, watches, etc. Things that won't go down in value that can simply not be in the house should the taxman take an interest.
 
Gordinho said:
Can't they divest themselves of the asset in a controlled manner so that they don't pay death duty and their heirs (for want of a better word) don't incur a liability? It used to be able to be done, don't know if it can still be. Extending the theme, it's illogical to give your children a windfall and a tax bill on your death while they're (hopefully) grieving when they could make use of the asset while you're alive.
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capital gains tax is paid on any transfer of asset 6 years prior to death - so the only way to do it is predict you have over 6 years to live, transfer assets and then have your heirs pay you a monthly sum to live on
(that is my understanding in basic terms anyway)
 
totally agree re; inheritance tax

have an issue with tax on savings too - if the banking industry needs our money to survive, we should be rewarded for it by interest on credit balances (and the Govt should be doing all it can to PROMOTE credit balances IMHO)

if you are going to impose tax on savings, then i want some form of rebate on interest paid on debts.......seems only fair to me.
 
have to say im in favour of linfting the tax free allowance if the subsidies to certain industries are reduced as a result - creating more of a tax on consumption that income (my only fear is that companies would use this as a excuse to hike prices for profit rather than just reflect to reduced subsidies).

but, certainly in principle, im all for comsumption based tax and pricing, maybe even move more towards a state where cost of living is lower and luxury items is greater, which combined with striping back the benefits system, should allow people to be able to afford to live on "lower" wages.
(of course this depends on jobs being available)
 
chichester said:
Labour politican talking common sense shock:

http://www.telegraph.co.uk/news/ukn...id-Lammy-ease-smacking-rules-after-riots.html

Also as far as tax is concerned pull out of the EU.

Allow for people to part pay their way in the NHS as the tories proposed years ago.

Cut benefits and allow child tax credits for a maximum of 2 children.
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i was going to read that until i saw it was David Lammy - he is the kind of politician i hate, spouts the best rhetoric possible at the top of voice in holier than thou manner to whip up support. he is nothing more than a walking propoganda machine. i wanted to smash my TV through qusetion time last week every time he opening he smarmy little mouth

re; NHS - I would scale it back to basic care and introduce a "private", REGULATED system. sort of a cross between a private company and govt body. profits scaled to X % so its worth while the companies existing, but not forming it the kind of $ before health set up we see in the US.

give people a bit of choice - make the base line care affordable (and essentials still "free" *cough*), but if you want (or can) pay more, then you can get better care. (a bit like standard, business and first class in aviation. nothing wrong with standard class, it does the job. if you pay a bit more, you get a bit more etc)

the children thing is difficult - i think we should ensure we dont put people off becoming parents becasue they cant afford (an arguement the Mrs and I have had for a few years and will for a few to come for sure!) it, but also dont make having children a profitable alternative to working for households
 
monkeybarry said:
i was going to read that until i saw it was David Lammy - he is the kind of politician i hate, spouts the best rhetoric possible at the top of voice in holier than thou manner to whip up support. he is nothing more than a walking propoganda machine. i wanted to smash my TV through qusetion time last week every time he opening he smarmy little mouth

re; NHS - I would scale it back to basic care and introduce a "private", REGULATED system. sort of a cross between a private company and govt body. profits scaled to X % so its worth while the companies existing, but not forming it the kind of $ before health set up we see in the US.

give people a bit of choice - make the base line care affordable (and essentials still "free" *cough*), but if you want (or can) pay more, then you can get better care. (a bit like standard, business and first class in aviation. nothing wrong with standard class, it does the job. if you pay a bit more, you get a bit more etc)

the children thing is difficult - i think we should ensure we dont put people off becoming parents becasue they cant afford (an arguement the Mrs and I have had for a few years and will for a few to come for sure!) it, but also dont make having children a profitable alternative to working for households
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David Lammy is black and left wing, that makes you sir a racist and i do not talk to racists.





;)
 
Why have any child benefit? If you can't afford kids don't have em!

I was stunned that I could get child benefit, I take the money though, the only fudging rebate I get of the government! It goes into my girls Junior ISA, until it stops next year.
 
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Leeds Spur said:
In actual fact if a couple bought a relatively modest house in central London in the 1950's they would now be liable to pay inheritance tax when they die, and can't do anything about it. They are hardly rich IMO nd the house is their only asset.

You pay income tax, stamp duty, VAT, Fuel Duty, etc etc your whole life.......why pay a death tax on top of all that??

Disgusting and immoral.
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THIS. The collective worth of all your worldly possessions when you finally meet your maker have all been nicely filtered through the tax system in one way or another. Whether it be VAT, stamp duty, income tax, capital gains, NI etc etc.

In my eyes what i leave behind is everything i have NET of tax.

Inheritance tax, it really is the final insult.
 
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