(Picture superannuated from here)
(Note: The author has no idea how economics really works but does recognise a stupid idea when he sees it.)
The caterpillars A Darling balances above each eye must be feeling precarious at the moment. He has to find a way to raise 150 billion beer vouchers from us, and we don't have it. You can't steal what we ain't got, matey.
If he increases VAT, the EU gets it and he won't be allowed to reduce it again later. If he increases income tax, many on low wages will find that they are better off on benefits than working, while anyone rich enough to be hit hard by the higher rate can afford to leave the country. Increase taxes and the tax take goes down. We self-employed just won't work that hard if you lot are taking more of it. Why would we?
The IFS estimates that the government will have to find a further £40 billion a year to keep its borrowing under control, which equates to an average tax rise or public spending cut of around £1,250 for each family in the UK.
No chance, Gorgon. You made this mess, you pay for it. Get your Toynbees and your MacGuiles to cough up. They still think you're doing great, so they can pay the bill. And tell them, and your Cabinet of Freaks, they can't put it on expenses. Just watch my income drop to subsistence level if you try this. Oh, and watch my costs go up too. I have enough backup to sit back and post a massive loss next year. Pick the tax out of that.
Colin Jelley, head of tax and financial planning at Skandia, said: ‘At this stage in the economic cycle can we afford to raise taxes? If you raise taxes now you’re just going to drive the economy further into recession.’
They'll do it anyway. This is New Labour, remember. Not a group of intelligent people. New Labour, the party led by the drooling Brown Gorgon, a man-shaped blancmange who controls everything but has no idea what's happening in his own offices. That's what he claims.
Socialists out there will be delighted to learn that businesses are likely to take a hit through increased NI costs. What a great idea. Let's take down the business owners. For the workers. The workers who work for those business owners. The workers who are about to be made redundant because the business owner can't afford these new costs. The workers who are about to hit the dole queue en masse when the business owner folds, or takes his business overseas. No more tax from that business and no more tax from its employees. Instead, a bigger benefits bill. Result, eh, Gorgon?
UK business will be hit further by the changes to non-domicile taxation, with reports that 30% of foreigners are thinking of leaving the UK and taking around £5 billion from the economy.
‘They may pay little or no income tax but they pay employer national contributions and VAT and this is where the UK will lose out,’ said Grant.
Yup. The Gorgon is aiming for a £200 billion hole. That's the only possible conclusion. All his ideas are based on getting rid of money, not accumulating it. Thirty percent of foreigners are thinking of leaving and taking their money with them. What's the percentage of indigenous people thinking of going along with them? High, I'd say, and getting higher by the day. Those who leave will be people who earn money, not those on benefits. In fact, benefit claimants come here from everywhere in the world.
Give it a few more years and everyone left in the UK will be claiming benefits.
Unfotunately, nobody will be paying for them.