Tax cuts for the rich, hurrah!

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I cannot fathom the idiocy loser sentiment that this is for the rich? Anyone would think the rich are freeloading entitled chancers who are making even more cash soon.

As others have pointed out its a percentage.

Who contributes more money the country?

40% of 200000 or 20% of 20000

If you say the latter I can't help you. I'm telling you all the people I know who are in the upper bracket work and have devoted their lives to be where they are. Why should they pay even more for devoting and sacrificing their life to be better off???
I too don't resent anyone working hard and being paid well for it. I certainly don't expect them to be a higher tax bracket just for what some kind of punishment? Its absurd.

Whilst I disagree with approach to energy companies that should be windfall. I think the rest makes sense.

Answer this. If this creates the opportunity for more people having more money in their pockets that can now afford to pay more local trades spend more for services and boost local economy. Isn't that better than it just being taken in tax never to be seen again or invested poorly by a government that can't be trusted.

Agree with all of that. I do think an opportunity was missed in not raising the tax threshold, that would have helped people more at the lower end and taken some people out of tax altogether.

Not 100% convinced on windfall taxes, it was taxes that prematurely ended North Sea exploration.
 
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Slightly OT, however what bugs me with politicians when they announce anything to do with money stuff (that is intended to benefit the masses) is the smugness with which they tend to do it. It's as if it's government money that is being given to us. It seems to be forgotten sometimes (although thankfully people do mention it) that 9 times out of 10 it's OUR money, directly or indirectly, that's being referred to!

My point? A little bit more humility wouldn't go amiss when announcing stuff as opposed to the bragging nature that seems to permeate.
 
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How much tax would the treasury get by taxing a banker's bonus of £1 million? How much tax would the treasury get if instead of the banker getting the £1 million, it was divided equally between 1 million shareholders?
Thats just missing the point of why the cap was introduced.

No argument over the figures, just the risks involved
 
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Slightly OT, however what bugs me with politicians when they announce anything to do with money stuff (that is intended to benefit the masses) is the smugness with which they tend to do it. It's as if it's government money that is being given to us. It seems to be forgotten sometimes (although thankfully people do mention it) that 9 times out of 10 it's OUR money, directly or indirectly, that's being referred to!

My point? A little bit more humility wouldn't go amiss when announcing stuff as opposed to the bragging nature that seems to permeate.
It is government money.
It's yours for as long as you save it.
Once you start spending it, govt begins to take it back.
 
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Kwasi Kwarteng; what qualifications foes this man have to make such big decisions. There must be people that are far more qualified to handle our money. I've never understood cabinet reshuffling
 
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Kwasi Kwarteng
:eek: He's a doctor of economic history so knows about Reagan and Mrs T but maybe the course didn't cover the aftermath. Maybe not the results of 1972 fiscal stimulus either. That one is the only one of similar size to the current one.
 
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Last 5p tax cut for higher earners resulted in around 8 billion extra in revenue raised as people hid less money away .
As for tax avoidance how many small businesses pay them selves the dividend route and their wives and then come on internet shouting rich people should pay more tax ....kettle pot
 
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Kwasi Kwarteng;
Well his Wikipedia entry makes him out to be one of the best . . . ! Full of all the scholarships that are afforded to the moron offsprings of the important.

As a student of economics, I will seek out any papers he's had published on his economic theory's.

Watch this space . . . . .
 
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Well his Wikipedia entry makes him out to be one of the best . . . ! Full of all the scholarships that are afforded to the moron offsprings of the important.

As a student of economics, I will seek out any papers he's had published on his economic theory's.

Watch this space . . . . .

I'm waiting
 
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The budget that's been announced appear to counteract what the bank of England are trying to do to get inflation under control.

It seems to be a budget not well thought out, almost as if the advisers were ignored a d forced out..
 

JohnD

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For a fair assessment of the likely results, just read the report which the Office of Budget Responsibility is obliged to produce.


Oooops.. you can't, because Truss has suppressed it.
 
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