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Monthly Archives: March 2012

One Flew Over The Cuckoo’s Nest

Francis Maude has advised motorists to keep a jerry
can of fuel in their garage in case of a tanker driver strike.

I’ve seen some pathetic things from governments, but this one is right up there with the best.

A) Storing petrol is dangerous, not to say illegal; there may well be some horrible deaths and injuries because of this.

B) Such stockpiling will only ensure stocks run out faster.

C) It could lead to a spate of thefts from private garages by East-European immigrants and others, but with any luck they’ll still be too busy ripping the lead of church and the wiring from power supplies.  Sorry – not very PC, but to be honest I’ve just about had PC.

D) It would only make any difference for a few days anyway.

E) It’s for the govt to ensure supplies – SACK all the strikers. If they think they are undervalued presumably someone else will snap them up as soon as they are free. While you’re at it, do the same with the tube drivers AND the bankers.

This reminds me, I must see: “One flew over the Cuckoo’s Nest” once again.

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Posted by on March 28, 2012 in Britain, Human Interest

 

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EUROFARCE – Act IV

The short-termist lunacy of the EU is staggering. Europe has MASSIVE problems of industrial imbalance and appalling bureaucracy, not to mention the high taxation and – despite this vast govt income – vast debt. Has anyone SEEN what happened to Japan? Their depression lasted TEN YEARS. How the hell Portugal is going to escape insolvency is beyond me. As is why the Greek colonels haven’t staged a coup.

Hollande seems likely to win the French election, tear up the Merkozy agreements and plunge France into further vast debt by “creating” (you have to laugh) tens of thousands of new jobs in the public sector.

Batten down the hatches … especially when the Iran War starts and the oil price rockets. Planting potatoes might be a good idea.

PS re Merkozy, the open support of Merkel for Sarkonerd is stupefying. You NEVER openly support a politician for election in another country.

A) Many French people are going to be very irritated at a foreigner sticking their nose in, and so the “support” will backfire anyway.

B) If you back the wrong horse, your relationship with tne NEW one will be scarred.

On the other side, Sarkonerd’s crass lurch to the right and slagging off of immigrants is such blatant electioneering and thus treating the electorate like idiots that that seems sure to backfire as well.

Do we REALLY deserve this level of mediocrity in our leaders?

 
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Posted by on March 9, 2012 in European Union

 

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UK TAXATION

This is taken from “The Daily Mail”,
because it is so good – as is

often the case with the Mail of course.

500 million reasons why they can’t afford NOT to cut our taxes.

UK Government Tax Policy

  • The Government takes £460 billion a year in taxes – two-fifths of everything we earn, which is twice as much as communist China.
  • We each work five months of the year solely to pay taxes. Only then do we start earning for ourselves.
  • Britain’s tax code is the biggest in the world. The current edition of Tolley’s, the accountants’ tax guide, runs to 14,500 pages – twice as big as when Gordon Brown became Chancellor in 1997. There are plenty of hiding places in that jungle.
  • And people resent tax because so much is wasted. Bhs boss Sir Philip Green’s 2010 spending review found Whitehall could save £600 million on phone bills alone. ‘No business could survive that level of waste,’ he concluded.

How do we compare?

  • Our high taxes make avoidance more profitable. Britain’s top rate is 50 per cent; America’s is just 35 per cent. Our capital gains tax is 28 per cent; theirs is just 15 per cent. In the EU, only Scandinavia has higher top rates; outside the EU, nobody does.
  • Worldwide evidence shows plainly: set taxes too high and people will avoid them. They set up avoidance schemes, take themselves or their money abroad or simply retire.

The 50% tax rate

  • Although the Treasury has yet to release its formal study on the impact of a 50 per cent tax rate on growth, the early indicators are worrying; latest tax receipts from self-assessment forms – those used by the country’s richest – are down by half a billion pounds.
  • It is an example of what economists call the Laffer Curve, after the American economist Arthur Laffer, who discovered this simple truth: high tax rates actually bring in less money for the Treasury than lower ones, because they result in greater tax avoidance.
  • The reason why tax avoidance is rife among our highest earners is because our taxes are too high and too complex.

The Effect of Reducing Tax

  • In April 2008, Chancellor Alistair Darling imposed a £30,000 tax on ‘non-doms’ – high-flyers who work in the UK but are domiciled abroad. More than 16,000 of them simply moved their affairs overseas, resulting in a net loss for the Treasury.
  • You see the same in America. A 2008 study found that 80,000 people migrated to the nine US states with no local income taxes, while the ten states with the highest taxes lost 129,000 residents and $10 billion (£6.31 billion) of income.
  • And if you want the rich to pay more, cut taxes! In 1979, Chancellor Geoffrey Howe chopped the top tax rate from 83 per cent (yes, really) to 60 per cent. Before the cut, the top one per cent of taxpayers paid only 11 per cent of the total tax revenue. By 1988, the same 250,000 people were paying 14 per cent of it.
  • When Nigel Lawson sliced the rate further to 40 per cent, receipts from the top earners rose to 21 per cent of the total. By halving the top rate, Howe and Lawson doubled the share paid by the highest earners.
  • In America, after George W. Bush’s 2003 tax cuts, the taxes paid by $1 million-plus earners more than doubled in just three years. It is the same everywhere. When India cut taxes in 1997, ‘experts’ predicted a loss of revenue but they were proved wrong. When Canada cut top tax rates in 1981, receipts from high earners went up. When Russia replaced its complex system with a flat-rate tax of 13 per cent in 2001, receipts rose by a quarter.

The Contribution of the UK Rich

  • The highest-earning one per cent of Britons pay £47 billion in income tax – almost 30 per cent of the total and an amount equivalent to half the annual running costs of the NHS.Si
  • Since 2000, the share contributed by this top-earning group has increased from 22.2 to 27.7 per cent, largely because there are now so many more millionaires.

The Flatrate Tax System

  • The World Economic Forum reckons tax is the key factor in doing business with a country, but a 2010 study by accountants KPMG ranked Britain only 83rd out of 86 countries for tax competitiveness.
  • A 2004 survey showed that the 20 fastest-growing countries all had low marginal tax rates. And the dozen or more of those countries (including several ex-Soviet bloc nations) that have adopted low, flat taxes have no plans to change.
  • The flat tax, which is gaining traction across the world, makes tax both low and simple. There are no top rates, just a single tax rate for everyone. The poorest – on less than about £12,000 a year – pay nothing. Loopholes are scrapped.
  • Because there is only one rate – it would be about 22 per cent in the UK – a flat tax is easy to calculate and difficult to avoid. The tax form can fit on to a single side of paper. There are fewer distortions and disincentives. And more transparency about what people – senior civil servants, say – should pay.

Some people say that a government running huge deficits cannot afford to cut taxes. In reality, it cannot afford not to.

 
 

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IDIOCYWATCH

What is going on in the world of the Idiots?

  • At a time of hand-wringing about the danger of fossil fuels and the rocketing price of oil Britain’s nuclear power industry is being run down – from 10 reactors now there will remain just one in 2022. So, whereas nuclear energy has safely supplemented Britain’s traditional power supplies for decades NOW when the technology is presumably much safer it is being ended so that we can depend more on imported shale gas.
  • Two Rumanians stole 50,000 GNP worth of lead from a church roof but have been given a “community service” order instead of being sent to jail. As they have “no means” (God only knows where the 50,000 has gone) they do not have to pay a penny compensation. So much for deterrent.
  • The protection being given to this fundamentalist idiot who wants to blow us all up is costing the taxpayer 10,000 GBP per week.
  • The very day after the majority of the EU signs up to the Franco-German “Fiscal stability pact” Diktat (remembering that France and Germany were the FIRST to break the original eurozone agreement on debt) Spain announces that it will not obey it. We await the next action of the EU-Inquisition.
  • Draghi is turning out to be  major disaster, printing money as if there were no tomorrow and flooding the banking system with it. European banks are dumping their toxic assets onto the ECB (Germany), loans to small businesses continue to stagnate and massive problems are being built up for later on ….. nothing new there, then. Germans and others are being taken for a ride as they will have to pay for all this sometime down the road. As the ECB actions are being done with sophisticated, complicated and fraudulent cunning the average pleb has not yet realized the reckless folly being dumped on him by this criminal political elite.
  • The vicious, theocratic, fascist and regional trouble-stirring regime in Iran (greatest supporter of the mass-murdering Assad family despot dynasty now apparently intent on “reform” – a great contender for “Joke of the Century”) continues to have supporters among the British unintelligentsia for no good reason other than that it is all the fault of the USA.
  • Witchcraft, torture and murder in the UK – another immigrant import. Thanks for that.
  • Chelsea’s Villas-Boas is a bit of an idiot, no? Constantly blabbing off to the press about not being married to Lampard, being about to get the sack, washing his club’s dirty linen in public. Still, he seems to understand something about finance. “We can’t compete with City who can buy all the best players.” REALLY! What a surprise!! But it’s “Sport” old boy – as long as you remember that. And will Abramo be pleased to be reminded that even his billions aren’t enough ……. perhaps they’ll get into a bidding war like Rangers and Glasgow and ALL go bust …. then I can get back to supporting Hull and Wigan with some chance of success for my team.

Some good news among the idiocy. Francois Hollande is doing OK in the French election as Sarko has to take refuge in a bar to avoid being beaten up. “It could only happen in France.” Yes, Mr Boring should win the election, will rip up the fiscal-stability pack and thrust it up a German orifice. Then he will “create” (I so love this word of socialists) n thousands of new jobs, France will go bankrupt and the whole shoddy EU edifice will collapse in a pile of puterfying detritus-ridden corruption – no doubt with Mrs Thatcher and the USA getting the blame somewhere along the line.

And van Rompo will lose his 300,000 € per annum plus vast expenses job and 300,000,000€ Brussels palace. Perhaps they can turn it into a hostel for unemployed bankers to prevent them chucking themselves out of skyscraper windows and messing up the streets.

 
 

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