glasshouse
Member
- Location
- lothians
Who is boris going to hit to pay for this corona shambles?
Rising taxes
- Thread starter glasshouse
- Start date
- Location
- Lincolnshire
Well, won't be the tax haven based venture capitalists he's bailed out who'll pay it back.
Vat.
NI
Vat.
NI
glasshouse
Member
- Location
- lothians
- Location
- North Hampshire
Inflation ...debase the currency some more ....
- Location
- Lincolnshire
Tubbylew
Member
- Location
- Herefordshire
With every country in the world in a similar predicament, who's borrowing money off who? Global debt exceeded global productivity a little while back i think, so surely the concept of money is on shakey terms at the minute. Their best bet is to try to defer payments on everything and hope it all goes back to nomal pronto, but if it doesn't? One things for sure, there are several thousand people globally who'd love to be here to discuss it.
Goweresque
Member
- Location
- North Wilts
Everyone.
Hindsight
Member
- Location
- Lincolnshire
Favourite approach by USA right wing financial evangelists who believe China is at fault for this mess, is to repay China by all borrower nations defaulting there USDollar denominated debt currently held by China. Now that would in effect bankrupt the Chinese government.
If they get their way be prepared for a World War as China will mobilise and simply invade all neighboring countries. USA will have no recourse to stop it. I anticipate Russia would possibly undertake some military mischief invading the Baltic States.
I shall write this up as a novel and ask Jeffrey Archer to publish and go halves on royalties. Film rights later. You heard it here first.
If they get their way be prepared for a World War as China will mobilise and simply invade all neighboring countries. USA will have no recourse to stop it. I anticipate Russia would possibly undertake some military mischief invading the Baltic States.
I shall write this up as a novel and ask Jeffrey Archer to publish and go halves on royalties. Film rights later. You heard it here first.
Goweresque
Member
- Location
- North Wilts
The self employed will get caned as a result of this. The Chancellor has already said that the quid pro quo for the SE bailout money will be the equalisation of the tax+NI equation for employed vs self employed. At the moment the SE pay a maximum of 9% NI, vs 12% for employed. However there's also employers NI contributions, which mostly fall on the employee, in the form of lower wages. Thats another 13%+, taking the actual marginal tax rate on a basic rate employee taxpayer to well over 40%. If the Chancellor takes the view that employees are in fact bearing the burden of the employers NI contributions, then he may well consider that the SE should be paying tax at a similar rate, ie a 40%+ basic rate of tax. That would mean a more than 50% increase in the marginal tax rate for the SE.
- Location
- North Somerset.
What is the likely cost of Covid 19 and how does that compare with the bailout of the banks in 2008? At least with this bail out direct to employees and businesses the money is in circulation which will mean there will be some recouped by the Government through VAT etc.
FonterraFarmer
Member
- Location
- Waikato, New Zealand
Point the finger at where it came from, and send in the UN in to sort it out.
Isn't that the job the UN was set up to do, if not then what's the point of the UN?
But the Chancellor seemed quite confident that we could borrow huge amounts at extremely low interest rates, and that, in our current healthy economic state, we could more than afford to repay it. And that Garry Lineker would still be worth his 1.75m salary.
I just made that last bit up, but if needs must, we could always apply a 95% tax rate on all Salaries and Director's skimoffs of over £150 K. I've just invented the term ''skimoffs''.
I just made that last bit up, but if needs must, we could always apply a 95% tax rate on all Salaries and Director's skimoffs of over £150 K. I've just invented the term ''skimoffs''.
Roger Perry
Member
Working on the theory that "they" can only get it (tax) from the folks' who have it...................watch out.
Remember the old saying, "I'm from the government and I'm here to help you"
Remember the old saying, "I'm from the government and I'm here to help you"
- Location
- Cheltenham
Have you got your desert island lined up to avoid Armageddon yet?
- Location
- south norfolk
I reckon vat and income tax to 25%.we will be paying this back for years
Nick...
Nick...
Hindsight
Member
- Location
- Lincolnshire
Well judging by the reaction in different countries, maybe I ought. So in UK the general public sought out, cleared and horded Pasta. In the USA the general public sought ought, cleared andhorded firearms and ammunition!?
Americans purchasing record-breaking numbers of guns amid coronavirus
The pandemic has created a surge in demand, with some gun stores inundated with panic-buyers
www.theguardian.com
And the President on the USA decrees gun shops as essential services.
Reuters | Breaking International News & Views
Find latest news from every corner of the globe at Reuters.com, your online source for breaking international news coverage.
uk.reuters.com
Does make ya think sometimes.
- Location
- Cheltenham
I noticed the rush for guns in the States. Says it all really!Well judging by the reaction in different countries, maybe I ought. So in UK the general public sought out, cleared and horded Pasta. In the USA the general public sought ought, cleared andhorded firearms and ammunition!?
Americans purchasing record-breaking numbers of guns amid coronavirus
The pandemic has created a surge in demand, with some gun stores inundated with panic-buyers
And the President on the USA decrees gun shops as essential services.
Reuters | Breaking International News & Views
Find latest news from every corner of the globe at Reuters.com, your online source for breaking international news coverage.
Does make ya think sometimes.
Sounds cruel but the generation which has cost us in big pensions is now the one we are throwing money at because they are dying in numbers........double whammy!
Hindsight
Member
- Location
- Lincolnshire
Did you read Max Hastings article in The Times a few days ago. As a 74 year old he declared his interest and said exactly that. The boomers ultimate revenge on the young. He received some opprobrium in the Times comments!