From a risk point of view, I’d personally favour a system where registered accountable companies are responsible for tax deductions. any system where you can potentially generate a rebate (i.e. your 25% was too much scenario) is likely to attract fraudulent attack by criminal groups and casual fraud by individuals, you’ve got that exact problem with the current self assessment process because organised criminal groups are always one step ahead of HMRC and there antiquated systems, close one loop hole and they open another one up.
From a processing point of view, you’ve now got 30 million individual tax returns to deal with rather than however many PAYE submissions from companies (i’m guessing significantly less than 30 million). The staff requirements for processing, compliance checking, system requirements etc. for that number of returns would be astronomical. and are you not also transferring a processing burden from the employer to the banks?
When you talk about socialism are you basically talking about communism? I’m not and i’ve never seen anyone on this forum proposing we move to a socialist / communist system, there’s a difference between being a socialist / communist and having a social conscience, therefore I don’t really see the relevance of your final comment. The far left would probably like us to move to a socialist system just as the far right would like us to all to be fascists, but they’re minorities and irrelevant, it perplexes me to hear the constant raging of people on the right about socialists, you don’t really get people on the left moaning about all the right wing fascists!
We live in an electronic age, and the problem with returns is again they are too damn over the top. Again, the key is to simplify. CGT, Income Tax, forget it. Income = One tax. People will abuse it via cash in hand, but that happens already anyway. Automation is the key, because the HMRC, like most public bodies, are absolutely useless and they make sooooo many errors.
I know the difference between socialism and communism. The problem is left wing vs right wing has clouded the issues. Socialism and Communism aren't just ideals, they are economics. Fascism is a right wing ideal, but for isn't economic. I am not talking about ideals.
I am not actually adverse to nationalisation of certain things. I think natural resources and infrastructure should belong to the country. I believe for residential households water should be free, for example. Free for everyone, not just the poor (or the rich). I do agree that to an extent the wealthy should subsidise the rest of country (which they already do) but not to punitive levels (which they currently are). But I also believe that people shouldn't assume or demand they get something for nothing. I also believe that most of those preaching about redistribution of wealth wouldn't dream about giving away a lotto win. THAT is what I hate about socialism the most. Most socialists are hypocrits. A working example below (figures are made up but I know for a 100% fact this brick happens).
Teachers complain that the quality of school equipment and working conditions is poor. "What about the children?!" they cry. Quickly followed by "Strike, strike, strike!".
Government relents, and announces that they'll put another ?ú100m into the education system to improve equipment and facilities. Teachers are delighted and announce victory.
Teacher's think "Hang on, there is an extra ?ú100m in the pot? My wages are brick and I deserve some of that!" (kids are now forgotten). Strike!
Government gives in. ?ú80m of the ?ú100m goes on increased wages. Teachers are delighted and announce victory.
Government spends ?ú20m on upgrades and the teachers think "Hang on, they said we'd get ?ú100m! Don't they care about the kids?!" Strike!!
Government gives in and announces an extra ?ú80m on spending. Teachers claim victory!
"But wait a minute...another ?ú80m?! us Teachers don't earn enough!" Strike!
And so on, and so on. Why give a fudge about the kids when there is personal gain to be had? I've never met a socialist yet who isn't about personal gain. The differences between most socialists and capitalists? There are only two. 1) A socialist is someone that isn't very good at obtaining personal gain. 2) A socialist preaches about us all being in it together whilst privately grabbing all they can. A capitalist will preach about helping themselves before helping someone else.
