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About LinkBackslets discuss starbucks shall we....Originally Posted by peterb
lets discuss starbucks shall we....
I'd hardly call Starbucks small...
Still, certainly a better Chancellor than the one we had from 1997 to 2006. (not that that says much, it would be hard to imagine a worse one)
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said chancellor also did an amazing job in number 10 for those last 3 years as well....
Certainly as good as the job he made as chancellor - although the best thing he did was leaving it.
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What in today's budget am I going to get to hold in my hand, feel.
Or is it more paper peddling and made to look like there is all these transactions to help some people but really it's all on a screen going to me at 00:00:01secs and back to treasury at 00:00:03sec.
Obviously depends on your circumstances, but personal allowance increase is one that a lot of people will notice, even if it's not a surprise.
the biggest jump though is in 2 weeks time
8105 >9440
That well known small Seatle brand?
Actually, its a great example.
They have a brand, which was developed overseas, it makes sense they have a service fee for it, and profit for that brand is declared in the place it was made right?
But it becomes really, really, difficult in pratice. Because say for instance that I open AniCoffee. I am in The Netherlands say, I have a dutch firm which makes the cups.
I sell the coffee for £1.80 in the UK. It costs 80p in insurance, rates, rents, employees, electricity etc. 0.05p in coffee. I could make a profit of £1 a cup. But sadly, each cup costs £1. That business makes almost no profit, due to the cost of the cups.
However the cups which are made in The Netherlands, with its low corp tax, cost me about 3p to make, and I sell each one to my UK firm for £1.
The 97p, is 'made' entirely in The Netherlands! Now I can easily stand up in a UK court and spill my heart out to the judge, that AniCupCo is just doing it's best to maximise its profits. It owns the unique IP for the design of cup my business image is built on. It would be very hard to prove that AniCoffee was overpaying. Ultimately everytime any company buys something, it expects the supplier to make a profit. Legislating against such actions, creating state sactioned price control has been dangerous when tried before!
It's funny because the only person I know IRL who is part of the Guardian (which has avoided millions of tax on profits by its structuring overseas) campaign to make vodafone pay corp tax, bought their camera via HK to avoid VAT.
VAT is the only realisticly easily enforcable one. Taxing companies is stupid, unfair, non-progressive. Make all income taxed the same. Does it matter that you earnt it via working or from investments, it changes not that its income.
VAT doesn't apply to certain staple goods, Corperation Tax does, Corp tax actually increases the prices of these things, because we don't rely on charities to function, its a reliance on free market.
This is why I fully support lowing Corperation Tax, shame they weren't brave enough to raise CGT.
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peterb (21-03-2013)
I think that's my general problem with politicsNot complaining about a budget would imply tacit approval of the government
And still overseas aid budget exists along with charity status private schools, bonuses etc etc
Why not tax the rich and cap their earnings, are they somehow more qualified than the rest of us ?
Why are these companies / banks etc willing pay one man so much when they could have 100 ( perhaps better ) that could - and would be willing to do their jobs at even quarter of the price ?
More old school hand outs while protecting their own ?
If you took their jobs , not only would you have more , but less ridiculous earnings ( and perhaps ) a change in policy that is shared and not sheltered for their Eton buddies.
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Last edited by melon; 20-03-2013 at 07:46 PM.
I don't understand the theory that the rich should pay a bigger % of their income than the poor, once you're past a living wage. It's entirely right that tax free limit is being increased, and it should reach a point where you can earn a living wage tax free. In return, we need a flat tax on the remainder, that's sufficiant to cover the services
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This is bunny and friends. He is fed up waiting for everyone to help him out, and decided to help himself instead!
UK growth cut by 50% and debts rising - not a good budget as a whole.
You dont ?
Who do you think caused this mess , but super rich and everyone else who took more than they gave back ?
Did you see the stats for privately educated running around in office ?
They caused this , so they should be responsible - they want to run things and reap rewards but when they f them up u think they should still keep them ??
Undeserving Poor are creatures of habit like the greedy rich - same beast - just the rich are better positioned to get more and usually a lot smarter at it.
Being Rich itself is hardly good sign because it indicates theres already a discrepancy and something morally wrong - money does not give you a right to steal others rights.
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Last edited by melon; 21-03-2013 at 12:26 AM.
Helping people in poverty is a bad thing, because you know they aren't even white half the time.
Or is it that a Charity, is a Charity? Private schools answer to the charity commission. Unlike say religious institutes which get by without proper accounting practices.
The 50p tax didn't achieve half the projections that were promised at the time. At the end of the day, someone who earns £20k pays ~£3.8k, or roughly 1/5th. Someone who earns £200k pays about 3/7th. Are you saying that they should pay more? Fact of the matter is, that around 50% of tax is paid by about 8% of the population.
well they couldn't have 100 for many positions, the fact of the matter is that most struggle to find people, hence the wage, its not that they want to pay it, quite the opposite, I've watched banks argue over £5k wage when they pay £15k to find the person, every penny that can be pinched from payroll is.
The way to solve that is by improving education, creating more people that understand basic concepts such as sim algebra. The fact that at best 5% of the population can do basic calculus really hurts the economy. As a result people have to out-bid one another for those who can. The issue of the high wages is not the system that wants or demand it, but the one that has failed to create it. 50% of the population at uni you say? Well thankfully we've got all those journalism graduates.Who is their own? protecting them how? By raising minimum tax threshold? Nothing in this budget for the high earners, despite the now obvious folly of the 50p, which has been a realised disaster (we have lost money because for many multimillionaires it was the last straw) they didn't do away with it. It by every right should be, it failed in its objectives and is probably lowering the tax income we all get.Which jobs are these? The only time I've seen in the city at least nepotistical jobs are in politics, it goes against the money making free market capitalist ideals to not give a job on anything other than merrit, if all people care for is money, they can't have a school-boy-tie.
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peterb (21-03-2013)
Why is growth cut, though, and why are debts rising?
First, the debt would be rising had Osborne's predicted growth, in his first budget, been met. It would be rising if Labour had won and Alastair Darling's budget gad been implemented.
In terms of what was politically feasible, nothing, and I mean absolutely nothing any in coming government could, have done would have resulted in anything other than the debt rising. If, on coming to power, the coalition had scrapped the NHS, and I mean shut it down entirely and provided no state health provision at all for three years, and saved £120bn on top of the cuts that have been made, debt would STILL have gone up, at this point in the Parluament.
Suppose you, personally, owe £100,000.
And, you earn £20k a year and spend £25k a year. So, every year, you spend £5k more than you earn, and you do it by borrowing. What happens to your debt? Yup, it goes up.
So, you implement an austerity package of £1.5k, and are promised a £1k pay rise. That means your debt is now only going up by £2.5k .... but it's still going up. And then the pay rise doesn't come through.So, it's going up faster than you expected, but slower than it was when it was £5k.
And broadly speaking, if on a far larger scale, that's what's happened with the economy.
Why has growth been stunted? Several reasons. First, weak domestic demand., that is, consumers not consuming, or not as much, anyway. And why? Because they had too karge a debt themselves, and have been paying it off. Unless you salary goes way up, you cannot both pay off a large credit card bill and go on a shopping spree.
Second, poor export growth. Our two biggest export markets, by far, are the EU and the US and you might have noticed, both are in a mess. It's very hard to hugely increase exports when your major customers aren't buying.
Exports to other areas, like India, have risen sharply, but as they were so small, even a large percentage increase is still pretty small. That situation badly needs to be addressed, and it is being addressed, but it is the work of a couple of decades, not a couple of years.
So, debts are rising because they were always going to. The very first budget said that. Growth is not as expected mainly because of deleveraging by UK consumers (a necessary process) and because of the economic woes in the eurozone and US.
Or the EU for that matter.
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