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UK Budget? - Magda Hassan - 23-04-2009
Any comments and feedback on the UK budget? The papers I am seeing are screaming 'Return of the Class War' and 'Return of Old Labor' etc. Most alarming to see that Britain's debt will amount to 79% of GDP in 2013-2014!!! I somehow doubt that 'New' Labor is gone and that a great political consciousness for the needs of the masses has taken over.
And debt to whom exactly? Who owns the 79% of GDP?
UK Budget? - David Guyatt - 23-04-2009
The mid-wealthy 1% are up in arms that they are being taxed an additional 10%, hence the headlines. The problem is that the bank heist is supposed to be paid by the low and average paid workforce. That's what they're there for.
The truly wealthy are, obviously, protected and by various clever tax loopholes to insulate them from picking up the tab.
On your last quest Magda, If anyone ca truly unpick the who owes to whom debt riddle they'll be doing a grand job. The UK owes debt to other nation, but those other nations also owes debts to the UK.... and other nations too. It's a very cuddly arrangement I think, and one that even Gandalf wouldbe hard pressed to unravel without his wizard's staff functioning on full power.
UK Budget? - Magda Hassan - 23-04-2009
Some Alexander needs to slash this Gordian knot of debt and be done with it all.
UK Budget? - Peter Lemkin - 23-04-2009
Magda Hassan Wrote:Some Alexander needs to slash this Gordian knot of debt and be done with it all.
Wish it were so. I used to think the Environmental Degradation was going to kill humanity. I now think it and the coming REAL Econmic collapse have equal chances. The synergistic effect of the two [and other little problems] will make the next few years interesting indeed. I can't say I'm happy to be living in these times......the 60s and 70s were more to my liking - as bad as things were there was 1] hope and 2] a movement. Now only despair about to get more desparate.
UK Budget? - Peter Presland - 23-04-2009
Magda Hassan Wrote:Any comments and feedback on the UK budget? The papers I am seeing are screaming 'Return of the Class War' and 'Return of Old Labor' etc.
Magda
Depressing isn't it? Another reason the top-rate tax hike is receiving so much attention is that the manifesto on which Labour fought the last election specifically stated that the top rate of tax would NOT be raised. That, together with the 'class-war' thing makes a powerful combination in the general politics as theatre and propaganda stakes.
I keep hearing that we will now suffer a 'brain-drain'. Bloody hilarious really; as if the guys in our overweight financial services industries earning in excess of £150K do so on merit and ability. Methinks they need to read Nassim Nicholas Taleb's 'Fooled by Randomness' which, if done honestly and with a truly open mind, is a rather humbling experience. Let them go I say. We have more than our share of parasitical bankers and other 'financial engineers'. In any event I think the world may be close to rumbling the entire 'financial services' scam so I doubt their particular skills and expertise (except in-so-far-as they know where the bodies are buried so-to-speak) will be much in demand elsewhere - for a while anyway.
As for the National Debt; what is there left to say except that it's obscene and will pauper the next two generations at least? - that is if we actually have another 50 years of the universally assumed 'Growth Paradigm' left, which I for one seriously doubt.