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Budget predictions

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Started 2 months ago by beau-jolly
Latest reply from sigmund

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beau-jolly

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Ahead of tomorrow's budget can we have a competition to see whose predition is most accurate.
Can I start with an increase in tax on booze & fags?

Too easy? Ok then:
12p on wine. And...
As Labour set a tax hike accelerator on booze and fags a few years ago the chancellor will say "No change to the way booze and fags are taxed" or some such slippery doublespeak and the press will report "no change". The reality will be 12p on a bottle of wine. That's 12p plus the normal margin (or you erode profits) plus VAT. So realisticly he means 20p on a bottle of wine in store. So half decent Claret will go from £23 to £23.20? Will it bollocks. It will stay at £23 for a bit and then quietly slip up to £24
Tesco's suppliers will be expected to contribute an additional 20p from the 5p a bottle they already make so will have to cut corners. Expect "Bulls' Blood" to contain Horse urine.

The duty on wine will be £24.25 +VAT! thats a 6% increase or about 5% above inflation. Robbing Bastards!

Posted 2 months ago #
Tripod

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And my bottle of El Magico, a fine Spanish-style wine, available from the corner shop, will probably go up to £2.99. What a fucking nightmare...

Posted 2 months ago #
dvo4fun

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I'm pretty sure that all the money he's got left will be in the red case he'll be holding up outside no. 11

Posted 2 months ago #
sigmund

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A flat rate of income tax at 10%. Abolition of VAT, capital gains tax, inheritance tax and stamp duty, and a shrinkage of the state to fit the available income. Oh no, hang on, that would involve those of us who actually do some fucking work getting to keep our money. What on earth was I thinking?

Posted 2 months ago #
sponge finger

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5p a litre on fuel
on the spot fines for smiling in the street

Posted 2 months ago #
Al OPecia

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What you gone to spend it on then Sigmund?

Posted 2 months ago #
Ironduke

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I can think of no cogent argument why income tax should be paid at different scales, or even as a percentage of income, (beyond expediency) when it is a levy taken to pay for everything we enjoy communally- a benefit system, a defence and police force, a health insurance, a transport system, education...all these things are equally available to all.

Taking more money from those who earn more (leaving bankers out of it) is merely picking on them because they have more- I cannot see any moral justification for it whatsoever.

If there was a flat, standard sum taxed- say each individual had to pay £10k per year- then salaries for lower paid jobs would rise (so minimum salaries would be, say, £18k, 10k in tax), and salaries for higher paid jobs would fall as there was greater surplus.

After that, if you wish to excel and succeed, go right ahead...the state won't penalise you by taking more money off you.

Child benefit would be abolished, but adoption centres encouraged...so if you breed more than you can sustain, the children will be cared for but you will not profit from your irresponsibility, nor be encouraged to fill the world with your progeny at others' expense.

VAT could be abolished, as could all other forms of taxation other than those implemented to penalise activities that are detrimental / costly...so a tax on saturated fat and smoking to offset costs to the health service.

WHilst probably utterly impractical, it does strike me as actually a morally fair system.

Posted 2 months ago #
sigmund

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What you gone to spend it on then Sigmund?

Sleep. As in, paying my mortgage, feeding my family and paying all the bills without any sleepless nights wondering where the money is going to come from.
Also, a state-of-the-art weapons system for the car, so the next time some arse in a Range Rover decides to drive 6’ from my bumper at 80MPH, I can deal with him/her appropriately.

Posted 2 months ago #
Titus

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"on the spot fines for smiling in the street"

That won't raise much money.

Posted 2 months ago #
Al OPecia

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It will in the City of London.

Posted 2 months ago #
Perks

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Child benefit would be abolished, but adoption centres encouraged...so if you breed more than you can sustain, the children will be cared for but you will not profit from your irresponsibility, nor be encouraged to fill the world with your progeny at others' expense.

And what happens if you have children then after 3 years things happen making it hard for you. Take your kids away?

Posted 2 months ago #
Iscariot

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The magnolia emulsion paint tax
The timber decking (gardens) tax
The satellite dish tax
The mobile phone (upgrades) tax

Posted 2 months ago #
Titus

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"adoption centres encouraged"

Typical namby-pamby Guardian-reading-type sentimentality.

If you can't afford to feed 'em, just put 'em in a sack and drown 'em. At least that's more civlised than burning 'em in their beds.

Posted 2 months ago #
dvo4fun

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Shoot offenders after 3rd conviction for indictable offence. 5 min's to lodge an appeal and then out to the carpark and off.

3rd child - same. If we're only a random collection of hydro-carbons then it will have no real meaning.

3rd moving traffic offence. Car gets scrapped. Driver bears the cost and the fees for scrapping (whoever owns the vehicle)

3rd case of fly-tipping. Offender has to eat what he has tipped.

Win 3rd General Election, get shot. (see Thatcher M.; Blair T.)

Sensible policies to cut waste

Tomorrow I'll move onto education

Posted 2 months ago #
Squudge

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But where do you stand on the compulsory serving of asparagus for breakfast Mr 4fun?

Posted 2 months ago #
Ironduke

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Call me a rotten old meanie- but the worlds population is spiralling and I can't see justification for people to have massive families. Is it not unreasonable to expect people to plan a family size that they can sensibly support; whilst retaining a disability / bereavement support for genuine hardship, and an unemployment benefit (but one that involves providing state employment) for misfortune? And to expect parents to take Life insurance / disability insurance for the duration of their dependents potential need?

What is unreasonable is to 'plough on' having a larger and larger family and expect others to support them.... particularly where those others have chosen to restrain themselves to a family size that they can adequately provide for.

And as for asparagus...don't get me started!

Posted 2 months ago #
sigmund

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Sounds like a modest proposal, duke.

Posted 2 months ago #
beau-jolly

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ID: This idea of yours where everyone pays £10k in tax and lower earners get paid an extra £10 to be able to pay it may not hold water. Self employed for a starter may have difficulty with that.
Is that not like simply taxing the employer? Assuming the employer is wealthier than the employee, it is no different to the current system. In my experience though the entrepeneurial employer pays themselves bugger all most of the time.

Posted 2 months ago #
beau-jolly

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Well swipe me!
I was right about booze going up on the escallator but he's listened to CaMRA and actually reduced the duty on beer!

Posted 2 months ago #
Perks

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There is definitely one thing I don't like about this budget. Robert Peston's new look

Posted 2 months ago #
dvo4fun

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has he got a new tie?

Posted 2 months ago #
Perks

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Hair cut and thick old school NHS glasses.

Posted 2 months ago #
Bob

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Just seen him - I think this guy did it better:

Though kudos to Peston for doing a giant no-hands-over-the-mouth yawn while Ed Balls was talking next to him.

Posted 2 months ago #
Ironduke

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ah, BJ...but no VAT will mean suppliers can receive the full 'value' of their product, even booze suppliers, boosting profits to fund salaries...and higher salaries will not be taxed anything like as much.

Take a business owner with turnover £400k, cost of sales £200k, employing of ten staff at £12k each and paying themself £80k profit (taking home £50k). Employees pay minimal tax, but there is VAT on all the business sells and the owner pays considerable income tax.If they increase profitability by 10% with the same costs, they'll gain £8k but lose half of it in increased tax payment.

In a new scheme there would be no VAT on their product, so they would receive £480k turnover (at same sale price); cost of sales still £200k, pay ten staff £22k each, so each pays £10k tax- £220k, and still has £60k left, from which they pay £10k tax...and still takes home £50k.

But now, if they increase profitability by 10%, they can allocate that £8k how they wish- £500 to each employee and £2k for themselves if they wish...they all receive the benefit of working harder / more efficiently...and in fact, as they've worked harder, why shouldn't it be them who benefit, rather than the State taking a larger portion?

Posted 2 months ago #
Gerontius

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Anybody know how Tripod got on with the El Magico?
Sounds like he knows his wine.

Posted 2 months ago #
Tripod

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Anybody know how Tripod got on with the El Magico?
Sounds like he knows his wine.

Had my stomach pumped. Nothing to worry about. Happens every time...

Posted 2 months ago #
Squudge

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I am no economist, but all I saw yesterday was 'student loans' to the (new) housing market as a giant bribe to get the developers out of a hole (and maybe give some buyers a chance of getting out of the rent trap).

Did I miss something?

(glad they decided to forget hiking fuel duty again though)

Posted 2 months ago #
Mr Target

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I think we should get rid of taxes all together and just pay for the services we need.

If I want a road, I'll bloody well build it myself, thank you.

Posted 2 months ago #
Gerontius

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Stuff you buy in shops charged at 10% VAT
Stuff bought on-line charged at 15% VAT

Posted 2 months ago #
Squudge

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dear world ... you will be sorry you were mean to me

Posted 2 months ago #

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