The 2015 Popularity Contest (aka UK General Election )

[The Esk]

Seriously, what is this fairness you all speak of? As a British citizen we have so many cards stacked in our favour and very few of them would be considered fair to the majority of people on our planet. Tell them all about fairness.

Come on Bruce.

Britain is the most talented cycling nation in the world. Does that make it right and fair that I could race you, me on a £5000 super light carbon framed racing bike and you on a raleigh chopper?

 

[Bruce Wayne]

Come on Bruce.

Britain is the most talented cycling nation in the world. Does that make it right and fair that I could race you, me on a £5000 super light carbon framed racing bike and you on a raleigh chopper?

I'd still beat you

 

[Clint Planet]

There's a difference between fairness of circumstance and fairness of treatment. One is luck the other is judgement.

Can you see the difference, Bruce? I only ask because you trot that one out quite a lot and it would be nice to put it to bed.

 

[Clint Planet]

http://www.theguardian.com/money/2014/jun/16/british-public-wrong-rich-poor-tax-research

The poorest 10% of households pay eight percentage points more of their income in all taxes than the richest – 43% compared to 35%.

Utterly abhorrent.

 

[Mrk]

Actually, I am very sorry to hear that. Must suck to have no talent whatsoever. In regards to success, it must be very difficult to compete with The Bulligdon blert. You do know he's had it handed to him on a plate.

That was too easy.

 

[Mrk]

http://www.theguardian.com/money/2014/jun/16/british-public-wrong-rich-poor-tax-research

The poorest 10% of households pay eight percentage points more of their income in all taxes than the richest – 43% compared to 35%.

It's an absolute disgrace that the poorest 10% of households are paying anything like 43% of their income in all taxes. Should be < 20%.

 

[daylightrobber]

That was too easy.

Couldn't pass up the opportunity to knock Gideon now could I? The guy's a twunt.

 

[roydo]

The stat about % of income in all taxes is a little bit misleading isnt it?

Like if I buy a £20 pair of jeans, and a millionaire buys the same pair of jeans, then we pay exactly the same in VAT, but that as a % of my income is miles more than a millionaires.

 

[Tubey]

It's an absolute disgrace that the poorest 10% of households are paying anything like 43% of their income in all taxes. Should be < 20%.

It's why the "taken out of tax altogether" argument from the Tories holds no water - they haven't been; they've simply been taxed harder elsewhere. Living standards are through the floor not just because of Income Tax.

At the very least, in the interest of fairness, the poor and rich alike should be taxed identically - which means that in a period of austerity, the rich should be paying 43% alongside the poor if using the above figures.

Arguably, the rich should be taxed more, as the burden on them in relation to living cost is a lot more tolerable. But to suggest the current system is "fair" in any way, shape or form is just mind-boggling to me.

 

[daylightrobber]

The stat about % of income in all taxes is a little bit misleading isnt it?

Like if I buy a £20 pair of jeans, and a millionaire buys the same pair of jeans, then we pay exactly the same in VAT, but that as a % of my income is miles more than a millionaires.

Which is exactly why raising VAT hit the poorest hardest.

 

[roydo]

Which is exactly why raising VAT hit the poorest hardest.

It does. Thats why the Labour Party abolished it.

 

[Tubey]

The stat about % of income in all taxes is a little bit misleading isnt it?

Like if I buy a £20 pair of jeans, and a millionaire buys the same pair of jeans, then we pay exactly the same in VAT, but that as a % of my income is miles more than a millionaires.

Correct, but inflation not rising in line with wages negatively impacts the lesser off more than the well off, so the impact of that VAT is much worse. So the answer to that is to raise other taxes for the rich and provide a break for the poor, so the impact is more equal.

 

[The Esk]

I'd still beat you

Yes, but just imagine despite your overwhelming experience and relative talent you lost because you had inferior equipment. Would it be a fair race?

 

[daylightrobber]

It does. Thats why the Labour Party abolished it.

They lowered it from 17.5% to 15% when the recession was really starting to bite. Didn't take long for the Tories to push it up by a 1/3rd.

 

[roydo]

Correct, but inflation not rising in line with wages negatively impacts the lesser off more than the well off, so the impact of that VAT is much worse. So the answer to that is to raise other taxes for the rich and provide a break for the poor, so the impact is more equal.

Well the nil rate band almost doubling could be argued benefits the poorer more than the rich. As a % of income and all that. I reckon the tax take is about maxed out if I am honest, and there have been quite a few tax changes that do hit the wealthy pretty hard. And I am not on about the non doms and squillionaires, I mean those earning £100-200k. The effective rate for some one on about £130k is something close to 60%.