You’re in Charge…

by Readers Question

7:56 AM, 12th December 2017
About 2 years ago

You’re in Charge…

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You’re in Charge…

You are now the Prime Minister/President/Absolute Monarch/Dictator of the United Kingdom…

Your task is to restore the nation’s finances, to create sound economic foundations, and to ultimately break the current self-defeating cycle of:

reduced tax yields -> higher tax rates to regenerate public services -> stultified economy -> further reduced tax yields -> even higher tax rates to regenerate further depleted public services -> further stultified economy -> further reduced tax yields -> etc etc etc… and to thus avert the disastrous “reforms” of truly appalling politicians, such as George Osborne and Jeremy Corbyn,

How will you set about generating the sustainable, long-term prosperity that Britain needs to support itself, to fund essential public services, and for its people to be as happy as they can be with their lot in life?

Gareth Wilson



Comments

Lindsey

12:21 PM, 15th December 2017
About 2 years ago

Reply to the comment left by Richard U at 15/12/2017 - 12:15
Just putting this out there, Richard, as I feel quite strongly about inheritance tax.

So, I work my rear end off for fifty years, to leave an inheritance for my daughter, so that she will get ... nothing more than the daughters of those who spent their money on themselves and did not do the same. This is fair how, exactly?

Equality of education and opportunity I am totally in support of. Social mobility is my favourite hobby horse. But how encourage social mobility if it stops at death? Where is the incentive?

Higher income tax I am not morally opposed to, but you would need to ensure that you did not drive away talent that the country needs.

Mark Alexander

12:31 PM, 15th December 2017
About 2 years ago

Reply to the comment left by Richard U at 15/12/2017 - 12:15
Hello Richard

It's a lovely sunny day here in Malta and I pay very little tax.

Just to give you some idea of how much I contributed before I left the UK, the largest tax bill I ever paid was over £1 million. I also paid for private healthcare and schooling for my daughter, so I think it fair to say that I did paid my fair share.

However, enough was enough. Somebody called Osborne added the straw that broke the camels back.

Please read the linked article below to understand why I emigrated. I am the 10th man.

https://www.property118.com/tax-system-explained-beer/

Richard U

14:01 PM, 15th December 2017
About 2 years ago

Reply to the comment left by Lindsey Sharratt at 15/12/2017 - 12:21
Lindsey - you can give your children the support they need whilst they are alive. I'd suggest that parent such as yourselves have probably given their kids the skills and the desire to go and earn things for themselves rather than relying on handouts.... and it fair to say you needn't pay any inheritance tax with my policy - it only taxes gifts after death. If money is brought into the system earlier, that has to be a good thing economically!

Richard U

14:16 PM, 15th December 2017
About 2 years ago

Reply to the comment left by Mark Alexander at 15/12/2017 - 12:31
Hi Mark,

And we are all very grateful for the money you put into the system. Thank you.

I think it is inevitable that some people will make much greater contributions than others. Graft will take you so far. Personally i'd trade hard work and talent for good fortune.

I cannot imagine try as i might that I could have worked out how to produce some of the world's greatest inventions - Tim Berners-Lee for instance gave us all quite a large gift - no stings attached... again i am very grateful - I wish I had the ability to create such innovation/wealth. Many, myself included do not have such abilities. That said, I have been very lucky and feel i am under-taxed. My sister has not been so fortunate. But she was stupid and chose to be a nurse and marry the wrong guy.

Section 24 is daft - and disproportionate. However, that doesn't mean all tax is bad.

The point about private school is an interesting one - perhaps your fees might have helped improve the local school for all children. Should we penalise children for their parents decisions? Personally, i'd prefer to pay in for the good of all.

Richard U

14:19 PM, 15th December 2017
About 2 years ago

Oh and i know you are keen to hear the rest of my policies. My next would be a universal income. A government-provided set rate of money provided to every resident to replace the existing means tested system for benefits.

Mark Alexander

14:28 PM, 15th December 2017
About 2 years ago

Reply to the comment left by Richard U at 15/12/2017 - 14:16
Hi Richard

I am delighted to read that you feel you are under taxed. We will soon be launching a Charity Appeal for landlords to assist those who are homeless. I am hopeful that you will donate however much you feel you have been over-taxed by.

Mark Alexander

14:30 PM, 15th December 2017
About 2 years ago

Reply to the comment left by Richard U at 15/12/2017 - 14:19
Will you be leaving everything to Charity in your Will?

Jerry Jones

14:38 PM, 15th December 2017
About 2 years ago

Reply to the comment left by Mark Alexander at 15/12/2017 - 14:30
Wouldn't it be more fairly distributed if he left it to HMRC to spend?

Richard U

14:46 PM, 15th December 2017
About 2 years ago

Reply to the comment left by Mark Alexander at 15/12/2017 - 14:30
Mark - I though better of you. That is a week argument rolled-out each time, anyone suggests that there is value in contributing for the whole.

The point about any system is that it works by people agreeing to the rules. When you voted to keep taxes the rate they are today you released everyone from their contract for higher taxes. If things had gone my way, we would all get a better education system - we haven't and millions of kids lost out. I am happy to abide by the system and will vote again to pay more as long as others do as well.

As for the homeless charity, I am very keen on the idea - as long as there is value created (see my previous contributions) Yes I will contribute, but no i won't be putting my 'tax' money into it - my priority is for creating opportunities through education - is there any better or more sensible cause?

Richard U

14:47 PM, 15th December 2017
About 2 years ago

Reply to the comment left by Mark Alexander at 15/12/2017 - 14:30
I wasn't planning to, better for them to have the money now?

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