How would you fix the economy?

I think that instead of handing out grants for people to set up businesses the government should be setting them up so that they are making more money

Why don't the government just buy/set up big company's that are making millions so the money we pay in taxes is making more money rather than the rich just getting richer
 
elmarko said:
Perhaps if we had greater income equality that would work, but we don't - all a flat tax would achieve would be.

1. Further increase the poverty gap.
2. Reduce total tax taken by the government, ergo further reducing the services of the poorest in society.

If you can tell me how the above will not have a net detrimental impact on both the economy (through reduced spending power of the public due to being thrust further into poverty) or by them being forced to pay for services such as healthcare & social cohesion I'd love to hear it.
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A flat rate tax with a higher tax-free allowance would be better all round. If the tax-free allowance is set at a level considered to be the minimum amount to live on then the poorest will be paying no tax. How does that increase poverty?

By cutting the upper rate tax bands wealthy people will move back to Britain. They will pay tax, and as such there is a good chance that the total taken by the government would actually increase.

The point I was making was why should hard working people who have made something of their lives have to pay for those that are too lazy to try?
 
neodude said:
A flat rate tax with a higher tax-free allowance would be better all round. If the tax-free allowance is set at a level considered to be the minimum amount to live on then the poorest will be paying no tax. How does that increase poverty?
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Not really, as it would just leave a massive hole in public finances which would result in a cut in services the population needs.

Not all the people who rely on the NHS or government services are scroungers, many are simply working folk with little disposable income.

Increasing the tax free allowance, but taking more in the form of services isn't really helping them - the only people who would really benefit from such a scheme would be those who are already doing fine & already getting richer than the majority every single year.

neodude said:
By cutting the upper rate tax bands wealthy people will move back to Britain. They will pay tax, and as such there is a good chance that the total taken by the government would actually increase.
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Evidence please.

neodude said:
The point I was making was why should hard working people who have made something of their lives have to pay for those that are too lazy to try?
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You seem to be making the common mistake in assuming that all poor people are on benefits or that all people who work hard have a reasonable amount of money.

This clearly isn't so.
 
elmarko said:
You seem to be making the common mistake in assuming that all poor people are on benefits or that all people who work hard have a reasonable amount of money.

This clearly isn't so.
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I have made no such assumption. I am saying that for the majority of people in the higher tax bands they have got where they are by working/studying hard and striving for a better life for themselves. I won't go as far as to say the majority, but a large proportion of unemployed people living on benefits are not on them because there are no jobs, there are on them because they are too lazy to apply themselves, seeing benefits as the easiest option. Why should the former foot the bill for the latter?
 
Make taxation voluntary except vat and remove business exemption on vat and make it a flat rate for all spending. people who do not pay income tax and other taxes can not receive any of the government services apart from emergency services. all government services that are not available are available at a nominal fee to the non tax paying population. end all import tariff and custom duties. end all government economic restrictions on trade, end all licesning requiments for driving, hair cutting, teaching, doctors and so on. remove all banking regulations and restrictions on competing currencies.

this will introduce the necessary incentives in to the government that will allow for a better value for money for taxation. this way the government and its fans can get on with it and people like me don't need to get involved with funding wars of cultural genocide and when the socialist state goes bankrupt it won't affect the whole economy.

sorry no caps nexus 7 can't type correctly.
 
elmarko said:
Increasing the tax free allowance, but taking more in the form of services isn't really helping them - the only people who would really benefit from such a scheme would be those who are already doing fine & already getting richer than the majority every single year.
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elmarko said:
Evidence please.
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For the record, I'm on neither side here but it doesn't seem fair only one poster is required to substantiate their claims.
 
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