Shrinking tax base

[DimPrawn]

Two main ways govt extract tax from the economy.

Tax the worker. Problem is more work done overseas, very low paid immigrant labour, falling salaries for the rest.

Result, big loss in tax revenue.

Tax the corporation on profits. Problem is economy is now dominated by giant multinationals, Google, Apple, Tesco, Starbucks, Amazon, etc, who make a paper loss in the UK and pay little or no tax.

Result, big loss in tax revenue.


Doomed!

[Robinho]

The main problem isn't so much how we tax, it's the level of tax revenues the gov needs to receive, thanks to entitlement spending, interest payments and pretendy austerity.

However, if you want a tax that is fair, almost impossible to avoid or offshore and doesn't distort the market, then the land value tax it is.

[BrilloPad]

JUst create more government jobs! They have to pay tax!

Simples.....

[BA to the Stars]

JUst create more government jobs! They have to pay tax!

Simples.....

You have just written the Labour parties economic manifesto

[rootsnall]

I think we are still borrowing 130 billion this year to balance the books, and no sign of that coming down any time soon. The odd billion saved here and there is just p*ssing in the wind. We have printed what we need so far but when the tulip hits the fan the state is going to get butchered. Nobody will tell the electorate that so it'll have to be a full on panic first.

DOUBLE DOOMED !

[vetran]

However, if you want a tax that is fair, almost impossible to avoid or offshore and doesn't distort the market, then the land value tax it is.

They can't even get council tax right.

I pay about 10% less than someone with a house worth 30 times my homes value. (2nd to top band)

more people in prison due to council tax than income tax.

Massive rise in council tax arrears | Money | guardian.co.uk

half the rich don't pay council tax anyway, their estates are owned by offshore organisations, don't tell me we are going to get them to pay. Their lawyers are better than ours.

VAT is the tax you want, on everything 0 value up. Paid on imports before it reaches customs.

Large companies can claim it against their corporation tax bill.

Small UK companies can claim it back partially.

we can then vary to encourage UK manufacture.

20% of everything, lovely chubbly.

[vetran]

"Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."


we are on about £25 expenditure, we need to get back to £15 to pay off our debts.

[DimPrawn]

I think we are still borrowing 130 billion this year to balance the books, and no sign of that coming down any time soon. The odd billion saved here and there is just p*ssing in the wind. We have printed what we need so far but when the tulip hits the fan the state is going to get butchered. Nobody will tell the electorate that so it'll have to be a full on panic first.

DOUBLE DOOMED !

And the few billion we do save by cutting the state we give away in some bulltulip climate deal to foreign govts!

You couldn't make it up.

TRIPLE DOOMED!

[rootsnall]

And the few billion we do save by cutting the state we give away in some bulltulip climate deal to foreign govts!

You couldn't make it up.

TRIPLE DOOMED!

And just to think about 5 years ago you thought the Tories would sort it out

[gingerjedi]

They could always stop tossing our money away on phoney wars and propping up unrepentant banks, just a thought.

I'd love to have seen the alternate ending where Gordon didn't save the world.