That’s the way it used to be - not any more - wait till you see the next budget - another year onto pension age already in the bag.
Tory spending plans were already extremely high pre-covid - previous chancellor balked at such planning and was sacked - the old thinking in the modern era of ultra low interest rates is well and truly changed.
Reaction to a unique pandemic and resulting recession is no indicator of an underlying swing in political beliefs from right to left, its just a rational economic reaction to a unique episode.
Tom, I’m talking when Sajid Javid resigned, long before the pandemic - no10 wanted control of the Treasury - who were resisting Boris’s plans of increased spending on infrastructure and housing (among others) - this was a post brexit plan to kick start the economy (good idea imo).
Long story short the Chancellor diagreed and quit.
The Tory manifesto specifically reneged on the promise to reduce Corporation Tax by 2% - from 19% down to 17% - it also promised to re-visit entrepreneurial relief.
The extra spending was to be borrowed and and paid for over many years - low interest costs in the long term makes this feasible - extra economic activity equals increased tax take etc.
Anyways, as you point out, circumstances have changed - the planned spend is now much greater and the pay back period longer - but the reality of low interest rates for a long time is now even more.
I wish them a speedy recovery. May Divinity continue to protect them.
A little while ago - The Brits were celebrating and happy for “Our Harry” and his new wife !
Then we bacame a little frustrated as shown in the last couple of posts in that thread.
Now most of us are disgusted !
At least he got a fundraiser and rally in after testing positive.
Trump’s Plan For Election Night Riots & The War On Police | Jeanine Pirro | POLITICS | Rubin Report
Well said, and after seeing the government can shut down 75% of the economy send everyone $1200 and continue business as normal one could argue why does anyone need to pay income taxes
Reasonable point and worth some thought.
My own humble opinion is that the larger the population of a country then the more onerous the tax liability
A good friend, since passed, had his business on the East coast (US) for many years - he figured that the tax bill there was huge by comparison to Uk.
Then again Monaco is seen as tax haven - no capital gains tax, no wealth tax, no income tax on residents, no income tax on corporations, no tax on dividends - the list goes on.
The one thing that struck me first time i visited - the number of Police Officers - they were stopping cars at random at junctions and each stop was far from cursory.
Seems low tax comes at a price?
The income tax in the US was introduced in 1913, the same year that the Federal Reserve was created. Coincidence?
How was the US govt funded before then? See the following article.
To get a better understanding of all this, read " The Creature from Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin. (available at Amazon).
If you want to take this further and figure out whether you are eligible to legally pay 0 income taxes (hint - most of us are), read “Cracking The Code” by Peter Hendrickson
https://losthorizons.com/Cracking_the_Code.htm
If you oppose them, they will destroy you even if you’re a Military Veteran & Democrat Congress Woman. This is what they are attempting to do with Tulsi Gabbard, perhaps one of the few democrat politicians who I have great respect for. If she had garnered the DNC nomination as a presidential candidate we would have had two great leaders running in this race.
She irked their ire when she destroyed Kamala Harris.
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One other little thing that i might say about the need to pay taxes.
In my part of this little earth I had grown used to the sound of military aircraft, in particular helicopter engines.
Last week in the sunshine I heard the clear sound of a military aircraft overhead - it had that certain ‘growl’ seldom associated with civilian machines.
I looked up against the sunshine and in the blue sky i could see a silhouette - my jaw dropped - everything that I’d learned about the Battle of Britain in 1941 was visible in that shadow - it was a Spitfire fighter plane - I knew it’s outline and I knew it’s Merlin engine sound.
Thing is - that plane fought a war - it fought a war on the side of right - it was paid for with taxes.
"…It’s a Racket - I Blame Tony Blair…"
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“These Companies are Evil - And they are Dangerous …”
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"Welcome to your Brave New World ! "
The Sentinel, standing at the gates of reason - teaching our children how to think.
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It is grotesque - hopefully this person should live to be ashamed to look himself in the face - Every day !
Hey @Falstaff, This maybe of Interest… 10 mins… The Scam that is the US College system…
An institution that insures American youth are saddled with huge debts before they even begin…