Rich people spewing shit to cut taxes so they can give themselves bigger bonus.
More news at 10.
The stagnation in the economy and slow decline in living standards post 08 is because no one is willing to face the reality that taxes need to go up and/or public spending needs to be reduced.
Stagflation will persist until we can be grown up about what the government actually needs to do and it will be painful, but until then it will only get worse until we face that pain.
Maybe the economy would be in better shape if wage compression wasn’t so severe, people weren’t spending 70% of their income on rent, and the tax system actually incentivized people to earn more.
Absurd marginal tax traps mean people are often financially better off cutting hours, turning down extra work, or sacrificing salary just to avoid them. And once you’re in the highest brackets, it’s not worth earning more anyway. Why take on twice the work and responsibility when 60 to 70% of the extra money disappears in tax.
Is this where everyone goes to the barbers to get curly hair but there isn’t enough for everyone?
A major problem is the fact housing is seen as (and is made by government policy) the safest ‘investment’.
Landlords take no hit during economic downturns by passing the buck to tenants in a way no other investment can.
Get that to fuck and people can actually spend their money in the economy.
Even Labour friendly think-tanks agree we need to stop punishing business now and reform taxes and welfare. Hopefully Burnham listens to them.
all those steadily increasing productivity gains and corporate profits since the 1960’s.. skimmed off the top and sent to rot unproductively in offshore British and American jurisdictions. instead of becoming better salaries and reinvested into society (and thus lower taxes), the ruling class greed is trying to force us into becoming feudal peasants again.
trillions and trillions are sitting *right there* in those offshore accounts. if that money had instead been given back as better salaries and lower taxes, the value would be worth *significantly* more the static amount in those accounts.. because money is *energy*, so all the benefits (like interest) compound over time (less stress, better services, better way of life).
i’m getting really, really tired of hearing “we have to tighten our belts”.. while profits just continue to go up, while a trillion is invested into this half-baked AI scheme, while billions are thrown at wars and weapons..
the peasants of 1381 would be astonished at how far we’ve let the economic corruption get. it is absolutely mental where we are
I think low interest rates for so long encouraged poor decision making in both public and private sectors. The bill is due.
JL and Waitrose are naturally going to suffer . They will need to really look at their range , stock , prices , and maybe refine what they are selling . They will have this data to hand , and they won’t survive unless they adapt
The UK will take 75 – 150 years to recover from the 08 Economic crash.
Current wages valued at 2008 level.
Average salary is now down £7.5K a year.
House prices went up 200-300% by 08 – property now unaffordable to many on a single salary.
The affects continue to devastate the UK and yet the MSM stays quiet.
Now add Brexit that has done further damage by dropping UK economy by £40-80 billion a year.
The bankers who caused the crash received multi million pound pay offs all funded by the tax payer.
Bill Clinton wanted 100% non secured mortgages so the poor could own their own home. They relaxed the lending criteria and many countries followed them.
Australia didn’t and maintained the need for a cash deposit to take out a mortgage. They were less affected by the economic crash.
The US has done a much better job recovering from the crash and has pushed ahead of the UK in Salary earnings.
The Top 1% have almost doubled their wealth since the 08 crash. Why? Well they could afford to buy up resources while working people couldn’t. As salary stagnates people struggle to buy resources which provides less competition for the top 1%. While many people lost their investments in the stock market, the top 1% bought up the cheap share prices. As the Govts carried out Quantative Easing, it gladly pushed stock prices back up. The top 1% made around 6 times returns on these investments, catapulting their personal wealth.
John Lewis boss. One of the very people fucking the system by prioritising his rather large bonuses over the pay of his staff. Makes me laugh. What do you want us to about it mate? Buy some more John Lewis merch to help prevent the crisis that is your bonus getting smaller?
When are we going to stop using the word ‘crisis’, which implies this is something other than the current normal state of our economy, and we are just not as wealthy as we used to be.
“I keep reducing salaries/not matching inflation/outsourcing work to cheaper countries and raising the costs of my products and now people aren’t buying them ☹️”
Who could have foreseen such a thing.
Liberal economic policies are unsustainable because you don’t have infinity money to redistribute into welfare and social programs? Shocker
Ah yeah. A rich CEO complaining people aren’t spending as much on their overpriced shite when everyone is strapped for cash as it is. More news at 10
Heavy taxation leads to motivation problems.
Motivation problems leads to productivity problems.
Produtivity problems lead to all other problems.
Maybe we should let the average workers earn more money, instead of squandering government fund on private companies that funnel the profit to only a few people? The system is so broken.
Business rates are absurdly high because local governments just don’t earn enough. The national government needs to provide more funding to local governments. Compared to Europe, local councils have half the allocation compared to the national government. And the controls to increase tax revenue for them are extremely limited.
At least in Europe they have other revenues in play including a portion of income tax. We can’t even create higher bands past H for mansions and othet high value properties to earn more council tax. Taxes like Stamp duty don’t even go to the council. They pay the national government. It’s an absurd structure. Burnham wants devolution, but the finances need to follow that. The high street will continue to fail until that restructure. There is only so much you can push council tax and business rates.
The English language is facing a permacrisis with these fuckin’ nonsensical words!
18 comments
Rich people spewing shit to cut taxes so they can give themselves bigger bonus.
More news at 10.
The stagnation in the economy and slow decline in living standards post 08 is because no one is willing to face the reality that taxes need to go up and/or public spending needs to be reduced.
Stagflation will persist until we can be grown up about what the government actually needs to do and it will be painful, but until then it will only get worse until we face that pain.
Maybe the economy would be in better shape if wage compression wasn’t so severe, people weren’t spending 70% of their income on rent, and the tax system actually incentivized people to earn more.
Absurd marginal tax traps mean people are often financially better off cutting hours, turning down extra work, or sacrificing salary just to avoid them. And once you’re in the highest brackets, it’s not worth earning more anyway. Why take on twice the work and responsibility when 60 to 70% of the extra money disappears in tax.
Is this where everyone goes to the barbers to get curly hair but there isn’t enough for everyone?
A major problem is the fact housing is seen as (and is made by government policy) the safest ‘investment’.
Landlords take no hit during economic downturns by passing the buck to tenants in a way no other investment can.
Get that to fuck and people can actually spend their money in the economy.
Even Labour friendly think-tanks agree we need to stop punishing business now and reform taxes and welfare. Hopefully Burnham listens to them.
all those steadily increasing productivity gains and corporate profits since the 1960’s.. skimmed off the top and sent to rot unproductively in offshore British and American jurisdictions. instead of becoming better salaries and reinvested into society (and thus lower taxes), the ruling class greed is trying to force us into becoming feudal peasants again.
trillions and trillions are sitting *right there* in those offshore accounts. if that money had instead been given back as better salaries and lower taxes, the value would be worth *significantly* more the static amount in those accounts.. because money is *energy*, so all the benefits (like interest) compound over time (less stress, better services, better way of life).
i’m getting really, really tired of hearing “we have to tighten our belts”.. while profits just continue to go up, while a trillion is invested into this half-baked AI scheme, while billions are thrown at wars and weapons..
the peasants of 1381 would be astonished at how far we’ve let the economic corruption get. it is absolutely mental where we are
I think low interest rates for so long encouraged poor decision making in both public and private sectors. The bill is due.
JL and Waitrose are naturally going to suffer . They will need to really look at their range , stock , prices , and maybe refine what they are selling . They will have this data to hand , and they won’t survive unless they adapt
The UK will take 75 – 150 years to recover from the 08 Economic crash.
Current wages valued at 2008 level.
Average salary is now down £7.5K a year.
House prices went up 200-300% by 08 – property now unaffordable to many on a single salary.
The affects continue to devastate the UK and yet the MSM stays quiet.
Now add Brexit that has done further damage by dropping UK economy by £40-80 billion a year.
The bankers who caused the crash received multi million pound pay offs all funded by the tax payer.
Bill Clinton wanted 100% non secured mortgages so the poor could own their own home. They relaxed the lending criteria and many countries followed them.
Australia didn’t and maintained the need for a cash deposit to take out a mortgage. They were less affected by the economic crash.
The US has done a much better job recovering from the crash and has pushed ahead of the UK in Salary earnings.
The Top 1% have almost doubled their wealth since the 08 crash. Why? Well they could afford to buy up resources while working people couldn’t. As salary stagnates people struggle to buy resources which provides less competition for the top 1%. While many people lost their investments in the stock market, the top 1% bought up the cheap share prices. As the Govts carried out Quantative Easing, it gladly pushed stock prices back up. The top 1% made around 6 times returns on these investments, catapulting their personal wealth.
John Lewis boss. One of the very people fucking the system by prioritising his rather large bonuses over the pay of his staff. Makes me laugh. What do you want us to about it mate? Buy some more John Lewis merch to help prevent the crisis that is your bonus getting smaller?
When are we going to stop using the word ‘crisis’, which implies this is something other than the current normal state of our economy, and we are just not as wealthy as we used to be.
“I keep reducing salaries/not matching inflation/outsourcing work to cheaper countries and raising the costs of my products and now people aren’t buying them ☹️”
Who could have foreseen such a thing.
Liberal economic policies are unsustainable because you don’t have infinity money to redistribute into welfare and social programs? Shocker
Ah yeah. A rich CEO complaining people aren’t spending as much on their overpriced shite when everyone is strapped for cash as it is. More news at 10
Heavy taxation leads to motivation problems.
Motivation problems leads to productivity problems.
Produtivity problems lead to all other problems.
Maybe we should let the average workers earn more money, instead of squandering government fund on private companies that funnel the profit to only a few people? The system is so broken.
Business rates are absurdly high because local governments just don’t earn enough. The national government needs to provide more funding to local governments. Compared to Europe, local councils have half the allocation compared to the national government. And the controls to increase tax revenue for them are extremely limited.
At least in Europe they have other revenues in play including a portion of income tax. We can’t even create higher bands past H for mansions and othet high value properties to earn more council tax. Taxes like Stamp duty don’t even go to the council. They pay the national government. It’s an absurd structure. Burnham wants devolution, but the finances need to follow that. The high street will continue to fail until that restructure. There is only so much you can push council tax and business rates.
The English language is facing a permacrisis with these fuckin’ nonsensical words!