Steerpike
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Post by Steerpike on Sept 23, 2022 15:47:39 GMT
People who pay tax pay less tax when tax is cut. People who pay lots of tax pay lots less tax when tax is cut.
Outrage.
Yawn.
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Post by bracknellboy on Sept 23, 2022 15:48:41 GMT
I have said at least twice in these forums that those relishing Johnson to go would not be happy with his replacement. Can I put an accumulator bet on PM Starmer, then PM Johnson again ? so what? The fact that the new team put in is even more stupid than the last team - not least because one of the remaining adults in the room removed himself from the field of play due to standing for PM - never justified keeping a lying narcisitic only barely semi economically literate in place at the top table. But equally importantly, it was said often towards the end that BJ had run out of patience with Sunak for not putting forward plans in not too dissimilar a vein. The person standing between the country and this sort of nonsense was Sunak, not so much Johnson. I don't think Sunak had much time left in the job if BJ had stayed. Also, I would note that the constituency of MPs were lukewarm for Thick Lizzy, and much more in favour of Sunak. It's the party membership that (narrowly in the event) voted in favour of her. The majority of us can't be responsible for the idiocy of that particular constituency.
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Post by bracknellboy on Sept 23, 2022 15:52:10 GMT
People who pay tax pay less tax when tax is cut. People who pay lots of tax pay lots less tax when tax is cut.
Outrage.
Yawn.
The majority of active people on this forum are either high earners or have been high earners, and are high net worth individuals. I think they understand how tax systems work. They are generally also pro wealth creation, pro business and pro sound economic and monetary policy. They are generally not going to be 'soak the rich' by nature. Perhaps their thoughts about this are slightly more nuanced than that ?
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adrianc
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Post by adrianc on Sept 23, 2022 16:26:21 GMT
I have said at least twice in these forums that those relishing Johnson to go would not be happy with his replacement. Can I put an accumulator bet on PM Starmer, then PM Johnson again ? I rather suspect Starmer is a dead cert come the next election at this rate, assuming he survives his own lot. BJ Piffle might have won. Sunak might have won. Trussticle is a no-hoper. Next election is due in Jan 2025 at the latest. And you can bet that it WILL be "at the latest", unless there's some miracle in their internal expectations. Johnson at the one after, c.2030? Yeh, good luck with that one! He'll be in his mid 60s then, and British politics is turning into a young man's game. If there IS a change of PM between the two elections, it'd be far more likely to be a change of Labour leader, rather than an early election.
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michaelc
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Post by michaelc on Sept 23, 2022 16:30:33 GMT
People who pay tax pay less tax when tax is cut. People who pay lots of tax pay lots less tax when tax is cut.
Outrage.
Yawn.
The majority of active people on this forum are either high earners or have been high earners, and are high net worth individuals. I think they understand how tax systems work. They are generally also pro wealth creation, pro business and pro sound economic and monetary policy. They are generally not going to be 'soak the rich' by nature. Perhaps their thoughts about this are slightly more nuanced than that ? But they live in Bracknell ?
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michaelc
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Post by michaelc on Sept 23, 2022 16:36:03 GMT
I have said at least twice in these forums that those relishing Johnson to go would not be happy with his replacement. Can I put an accumulator bet on PM Starmer, then PM Johnson again ? I rather suspect Starmer is a dead cert come the next election at this rate, assuming he survives his own lot. BJ Piffle might have won. Sunak might have won. Trussticle is a no-hoper.Next election is due in Jan 2025 at the latest. And you can bet that it WILL be "at the latest", unless there's some miracle in their internal expectations. Johnson at the one after, c.2030? Yeh, good luck with that one! He'll be in his mid 60s then, and British politics is turning into a young man's game. If there IS a change of PM between the two elections, it'd be far more likely to be a change of Labour leader, rather than an early election. I think so too unless as sometimes happens she rapidly grows in to the role. At this point I really don't see it at all - she seems to model herself on Thatcher to some extent but even there she does not have whatever it was that made Thatcher popular among some and generally I can't see her appealing to large sections of the country. Myself included. Johnson will be next unless they find someone else or indeed if Starmer suddenly appeals to the masses which he might do.
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Post by Deleted on Sept 23, 2022 16:40:23 GMT
The same process that chose the liar has now chosen the stupid. If you don't change the process you will never get an improvement.
IMF here in 2 years
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adrianc
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Post by adrianc on Sept 23, 2022 16:45:17 GMT
Johnson will be next unless they find someone else Nah. Johnson's already toxic amongst the parliamentary party, if not the halfwits in the membership, not to mention a large swathe of the country-at-large. His signature "achievement" is clearly failing, even to its adherents, and his claims to have "got it done" are ever more hollow. Truss won't put him back on the front benches, and he won't stay in politics on the back benches. He'll try to go back to journalism, but I doubt he'll get the big slots any more. He's most likely to head off to the lucrative fringes, and slide into obscurity. He's yesterday. After a big election defeat, the party will have an internal rout, with yet more vicious public blood-letting. Gawd knows who'll survive, but it won't be pretty. And that's without considering... www.theguardian.com/politics/2022/sep/20/keir-starmer-to-face-calls-at-labour-conference-for-electoral-reform"At last year’s conference, about 80% of constituency party delegates voted in favour of embracing proportional representation (PR). The motion was defeated after 95% of votes from affiliates, almost entirely unions, opposed the move. Since then, three of the biggest five unions linked to Labour have changed their stance. Unite and Unison, which between them comprise about half of union votes, both voted to embrace PR at their own policy conferences. The smaller CWU also backs the idea."If that does happen (and it damn well needs to) then we can hopefully watch for a more consensual approach to cross-party politics due to the need to form coalitions - which'll either leave the Tory party VERY isolated, or VERY changed.
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Post by bracknellboy on Sept 23, 2022 18:01:06 GMT
The majority of active people on this forum are either high earners or have been high earners, and are high net worth individuals. I think they understand how tax systems work. They are generally also pro wealth creation, pro business and pro sound economic and monetary policy. They are generally not going to be 'soak the rich' by nature. Perhaps their thoughts about this are slightly more nuanced than that ? But they live in Bracknell ? Some poor bugger has to. Anyway, maybe its euphimism for Ascot
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Post by bracknellboy on Sept 23, 2022 18:03:55 GMT
The same process that chose the liar has now chosen the stupid. If you don't change the process you will never get an improvement.
IMF here in 2 years
what worries me at a personal level about this is that I took the active decision to stop my real career. I have gone from being concerned to alarmed to now genuinely scared at the prospect of significant depreciation of my hard earned assets. As well as the basket case our country could be heading to becoming.
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mrk
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Post by mrk on Sept 23, 2022 20:47:21 GMT
Some interesting comments in The Telegraph as well: Rishi Sunak’s absence confirmed what Tory MPs knew – for a large rump of the parliamentary party, the PM is on borrowed time
“People will keep their mouths shut for now,” one Sunak supporter said. “But she has just taken one of the biggest political gambles since the Second World War – and she is doing it without the support of a lot of MPs who backed others for leader, and even without the support of some of her own people.
“The fact is that if this plan fails it will burn the Conservatives’ reputation for economic competence for an entire generation. It feels existential.”
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mrk
Posts: 807
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Post by mrk on Sept 23, 2022 20:51:06 GMT
By the way, income inequality in the UK is already higher than in most other rich countries.
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Post by Deleted on Sept 24, 2022 8:01:39 GMT
The same process that chose the liar has now chosen the stupid. If you don't change the process you will never get an improvement.
IMF here in 2 years
what worries me at a personal level about this is that I took the active decision to stop my real career. I have gone from being concerned to alarmed to now genuinely scared at the prospect of significant depreciation of my hard earned assets. As well as the basket case our country could be heading to becoming. Me too, I have the choice of Putin stealing money from me on one hand and Truss on the other. Being in a war is always a struggle, best to think that you should own the best assets, you should except losses and plan 3 months ahead. I find it helps to keep 12% as cash which at my cash burn rate is 16 years worth ;-)
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Post by captainconfident on Sept 24, 2022 9:53:39 GMT
Notable that Kwarteng refused the Office for Budget Responsibility permission to carry out its core task. The chairman of that office is Mel Stride, a Tory MP. In the Commons before the budget he said
"Independent forecasts from the Office for Budget Responsibility are necessary to provide reassurance and confidence to international markets and investors.
As a committee, we have in the past reported to the house that we consider it very important that significant changes to taxation are announced in a fiscal event alongside an OBR forecast. These forecasts are a vital indicator of the health of the nation’s finances, and provide reassurance and confidence to international markets and investors.
There has been a deterioration in our economic outlook since the last OBR forecast in March. There have been significant fiscal interventions since then and we are told there will be further significant interventions including major permanent tax cuts to be announced on Friday. Under these circumstances, it is vital that an independent OBR forecast is provided."
Leaving aside the need for a commentary from the OBR to rationalise the chancellors actions, it is necessary to consider those who benefit least from these tax cuts and adjustments, those who are most effected by inflation and rising interest rates - the large section of the population who are working but struggling to get by. These were the noble up by their boot straps people that Margaret Thatcher instinctively tried to support.
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Post by bernythedolt on Sept 24, 2022 10:42:10 GMT
By the way, income inequality in the UK is already higher than in most other rich countries. Most other rich countries? How can you tell? The writer has cherry-picked from the data (and what's his obsession with Slovenia?). Poorly presented, he doesn't even tell us how many countries are being compared, nor the definition of, or how many countries qualify as, "rich" in his eyes. "Britain is a different story. While the top earners rank fifth, the average household ranks 12th and the poorest 5 per cent rank 15th".
On the global scale, coming 15th doesn't sound too bad to me. Yet another "Let's Bash Britain" article. 🙄
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