Where is the fight back? - Page 2

Barrie Yates · 24-06-2010, 17:36

"62 million people are now paying a heavy price for the greed of a few hundred bankers, where is the nasty levy on them? 8bn over 4 years between them?"

Why weren't they sorted out before they got us into this financial mess?

Oh, sorry, that was Tony and Gordon and Alistair who didn't get to grips with it all. Anyway we can blame the new government for what it is costing us - even the money spent to place more of a burden on the incoming government - because sure as apples are apples, the populace was not going to trust Gordon and his cohorts any longer.

DaveinGermany · 24-06-2010, 18:06

Quote:

Originally Posted by Ken Moss

I fully understand the reasoning behind it and on paper it does make sense but in essence VAT has now gone up 5% in a year. I know that's figure-fiddling but it is sort of true.

Steady young Kenneth or we could be calling foul here

The increase of 5% is a slight wobble of the truth now isn't it ? a gentle reminder possibly ?

HM Revenue & Customs: Accounting for VAT when the standard rate of VAT returned to 17.5 per cent

So in actual fact the Coalition have raised it by 2.5%, agreed

For shame !! And you a locally elected member too

Still I suppose if you want to mix it with the "Big Boys" you have to learn to play by their rules I suppose.

Tealeaf · 24-06-2010, 22:01

Hmm....by my calculations, the % increase in VAT is 14.28.

Old Rate = 17.5p levied on each £1.00 net sale.

New Rate = 20p levied on each £1.00 net sale.

% increase from 17.5 to 20 = 14.28.

Eric · 25-06-2010, 00:23

Quote:

Originally Posted by jaysay

The thing with VAT Ken is that everybody pays it and those more well off and spend more pay more. I agree with your on the benefits system, but radical changes can't be done at one stroke of the pen, Hasn't the coalition brought Alan Hutton (former Labour Minister) in to look at what can be don't, which to me is a positive step. I have no problem with those in need getting the help they require, but we all know at least two or three people who are swinging it and have been doing for years, in some cases living on benefits runs through generations, with these people having no intentions of ever working if they can get away with it, unfortunately these instances are far more rife than people realise

I think you misunderstand the regressive nature of the VAT, and sales taxes in general. If all spending were discretionary, then you might have a point; however, spending is not based on shopoholic whims. Rich and poor alike need food and shelter, even poor kids would like the odd gift at Christmas, and warm clothing in winter. That the poor are taxed at the same rate as the rich for the necessities of life is an obscenity that appears equitable only to tories. And still, the only good tory is a suppository.

steeljack · 25-06-2010, 01:13

Quote:

Originally Posted by Eric

I think you misunderstand the regressive nature of the VAT, and sales taxes in general. If all spending were discretionary, then you might have a point; however, spending is not based on shopoholic whims. Rich and poor alike need food and shelter, even poor kids would like the odd gift at Christmas, and warm clothing in winter. That the poor are taxed at the same rate as the rich for the necessities of life is an obscenity that appears equitable only to tories. And still, the only good tory is a suppository.

I'm thinking I'm paying/contributing more than my fair share when I pay 20% tax ($8) on a $40 steak dinner plus tip, than someone paying 60 cents tax on a $3 value meal (double cheeseburger, fries and a coke) at McDonalds (no tip) .
Would also like to think I am adding to the economy with my $40 steak since the restaurant also has to employ folks to wash and iron the 'white' table cloths , wait staff, bus-'boys' and dish washers.

Incidentally some of us also care about the environment and disposable plastic eating implements and paper plates just dont pass muster so thats why I use hole in the wall 'mom and pop ' diners if I need a fast food fix .

Eric · 25-06-2010, 02:41

Quote:

Originally Posted by steeljack

I'm thinking I'm paying/contributing more than my fair share when I pay 20% tax ($8) on a $40 steak dinner plus tip, than someone paying 60 cents tax on a $3 value meal (double cheeseburger, fries and a coke) at McDonalds (no tip) .
Would also like to think I am adding to the economy with my $40 steak since the restaurant also has to employ folks to wash and iron the 'white' table cloths , wait staff, bus-'boys' and dish washers.

Incidentally some of us also care about the environment and disposable plastic eating implements and paper plates just dont pass muster so thats why I use hole in the wall 'mom and pop ' diners if I need a fast food fix .

I would hazzard that this response is more about politics than it is about economics.

jaysay · 25-06-2010, 08:50

Quote:

Originally Posted by Ken Moss

I fully understand the reasoning behind it and on paper it does make sense but in essence VAT has now gone up 5% in a year. I know that's figure-fiddling but it is sort of true. It also means that people will be more inclined to tighten their belts and warnings of a double-dip recession are not entirely without merit.

62 million people are now paying a heavy price for the greed of a few hundred bankers, where is the nasty levy on them? 8bn over 4 years between them?

Cheers Gideon, that'll show 'em.

The reason there is not wholesale attack on the Banks is in your own argument Ken a double dip recession, the problems was the lifting of bank restrictions by Gordon and his chums, the decision on bank levies will have been taken under consultation with the Bank of England

jaysay · 25-06-2010, 08:57

Quote:

Originally Posted by Eric

I think you misunderstand the regressive nature of the VAT, and sales taxes in general. If all spending were discretionary, then you might have a point; however, spending is not based on shopaholic whims. Rich and poor alike need food and shelter, even poor kids would like the odd gift at Christmas, and warm clothing in winter. That the poor are taxed at the same rate as the rich for the necessities of life is an obscenity that appears equitable only to tories. And still, the only good tory is a suppository.

God only knows what you think of the financial incompetents who have got use in this mess in the first place, the trouble is the good people of GB ever learn, Labour do it every time they're in power, then leave the hard decisions to others to clear up after them. Anybody seen Gordon since the 6th of May, no me neither

cashman · 25-06-2010, 09:08

Quote:

Originally Posted by jaysay

The reason there is not wholesale attack on the Banks is in your own argument Ken a double dip recession, the problems was the lifting of bank restrictions by Gordon and his chums, the decision on bank levies will have been taken under consultation with the Bank of England

it don't need the bank of england to tell anyone these thieves, are earning bonuses fer crucifying the country.

jaysay · 25-06-2010, 09:20

Quote:

Originally Posted by cashman

it don't need the bank of england to tell anyone these thieves, are earning bonuses fer crucifying the country.

I think its a tad more complicated than that now cashy

cashman · 25-06-2010, 09:24

Quote:

Originally Posted by jaysay

I think its a tad more complicated than that now cashy

it is, but as the Banks had to be bailed out through stupidity, they to my mind should be FIRST to pay the piper, not ordinary people.

jaysay · 25-06-2010, 09:53

Quote:

Originally Posted by cashman

it is, but as the Banks had to be bailed out through stupidity, they to my mind should be FIRST to pay the piper, not ordinary people.

I think they'll get their justs in time, by the fact that they will be tighter regulated than ever before

garinda · 25-06-2010, 10:03

It's like we've been looked after by some trippy hippies, who gave us everything we wanted.

Unfortunately mum and dad are back now, and are having to pay for all the damage to the wrecked house.

I did try to warn those daft hippies not to post that we were having an open house, on social network sites, knowing every Tom, Dick, and Harry would crash the party.

jaysay · 25-06-2010, 10:14

Quote:

Originally Posted by garinda

It's like we've been looked after by some trippy hippies, who gave us everything we wanted.

Unfortunately mum and dad are back now, and are having to pay for all the damage to the wrecked house.

I did try to warn those daft hippies not to post that we were having an open house, on social network sites, knowing every Tom, Dick, and Harry would crash the party.

Didn't know that Mancies first name was either Tom Dick or Harry

Ken Moss · 25-06-2010, 15:33

Quote:

Originally Posted by DaveinGermany

Steady young Kenneth or we could be calling foul here

The increase of 5% is a slight wobble of the truth now isn't it ? a gentle reminder possibly ?

HM Revenue & Customs: Accounting for VAT when the standard rate of VAT returned to 17.5 per cent

So in actual fact the Coalition have raised it by 2.5%, agreed

For shame !! And you a locally elected member too

Still I suppose if you want to mix it with the "Big Boys" you have to learn to play by their rules I suppose.

I know, that's why I stated that it was fiddling the figures...

However, of all the cuts and increases I think this will be the killer.