Soldato
Now that's exactly the kind of attitude that leads to it not happening. Soon my friend, soon
i've just realised, we are having our trousers pulled down!
- Thread starter cm1179
- Start date
Now that's exactly the kind of attitude that leads to it not happening. Soon my friend, soon
Associate
What most people don't generally think about:
Once you earn over your basic tax-free allowance, you are paying 20% tax on the next bracket on your earnings.
Then you have National Insurance on top.
So from you earning your money to you buying a product you have paid probably at least 50% in tax.
Once you earn over your basic tax-free allowance, you are paying 20% tax on the next bracket on your earnings.
Then you have National Insurance on top.
So from you earning your money to you buying a product you have paid probably at least 50% in tax.
Soldato
To be fair though we've known for 18 months more or less that this will be happening. It's pretty much a given.
It is possible that VAT *could* come down again in 5 years or so. But I suspect it will only have any chance of happening if the next elected government is more of the same (i.e. not Labour and not the LibDems left unsupervised).
the trouble is, who to target? i believe it has to be the oil suppliers and energy companies, everything stems from transport costs for which the oil companies are responsible for and continue to announce record profits, same for the energy suppliers, they're all way too greedy yet we just watch things carry on as they do so.
the petrol price is mostly tax, don't see how you can blame the oil companies for that.
Soldato
Me neither, but i can blame the oil companies for hindering any possibility we have at developing a sustainable renewable energy source as it suits their pockets.
Man of Honour
When your biggest financial outlay is to the government through income tax, council tax, value added tax, fuel duty, etc. I don't understand your reasoning.
Associate
Remember where VAT is chargeable (and most foodstuffs that won't be the case) you were already paying 117.5% of the price, you'll now be paying 120%. That's really not a big increase at all.
they're making too much then!
http://www.bp.com/extendedgenericarticle.do?categoryId=2012968&contentId=7061409
oil companies are the ones doing the massive research into those things because
A) they have the money to do it
B) they have the expertise to do it and make money from it
C) they know that unless they want to go bust in the future they're going to need a new product.
If you want to blame someone blame Greenpeace.
Man of Honour
Sure they made $6 billion in the first quarter but given that their turnover was something like $73 billion that's actually a pretty poor profit margin of 8%. By comparison IBM made over 40% GP in 2009, Vodafone were around 30%.
Didn't an oil company buy out then administrate the company that was developing the electric car around 8-10 years ago?
I'm asking because I thought they did, but I can't remember any details.
hit them too!
Man of Honour
That's stupid. It would achieve absolutely nothing and be a complete waste of time as they have nothing to do with our economic downturn.
Soldato
Just sell a few things on eBay (including the wife) and you'll be fine.
Not quite, say you earn £100, spend £80 then vat on £80 is only £16. So it's not 50% as NI is 11%. Tax comes to around 45% after the tax free allowance ((1-(0.20+0.11))*100*0.8). Although it's not really fair to call NI a tax as it supposedly pays for your pension and healthcare.
Last edited:
Caporegime
Speculators mate - blame them. Since the credit crunch people have stopped speculating on stocks and shares and put them into commodities. It's why metals like gold, silver, copper etc is at record highs, causing your consumer electronics to go up in price, it's why wheat is at record highs causing food prices to go up, it's why cotton is at record highs causing the clothes prices to go up.
So, your plan is (instead of protesting) - Complain about there being no protesting, but not actually organise anything yourself and tax the profit makers hugely? You don't have an economics background, do you?
Man of Honour
