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I've read these articles and basically they have several flaws.
There are many arguments whether the banks that over invested in dodgy sub prime mortgages or repackaged investments based on them should have been allowed to fail. The fact of the matter is the state already guarantees the money in people's bank accounts up to 50K, so by “nationalising” the banks we have avoided a crash and acquired an asset (not a debt).
The yearly UK budget shows that we spend more on public services and welfare than we can raise in tax from our productive (private) economy. We are basically spending more than we can afford. Close down the tax loopholes says Paul but higher rate tax payers find the principle of paying more tax unfair and will always find new ways of avoiding it or will change their circumstances to mitigate its unfairness. He also takes no account of the fact that higher taxes can be a disincentive to be “more productive”. I my self have taken March off and gone on holiday rather than earn the money that pushes me into the higher rate tax band.
With economic globalisation being the norm I can’t see how you can nail down multinational companies to pay corporation tax in a specific country. Boots for example doesn’t just have UK stores but is a European wide pharmaceuticals manufacturer. I see no problem with Boots or any other corporation basing themselves in other countries than the UK to take advantage of cheaper tax regimes. The sooner we adopt a low-rate flat corporation tax the better so we can attract foreign investment to our shores. If we reduced our higher rate personal taxes we would re-attract those foreigners who have left our shores to spend their money somewhere else.
The labour and socialist green movements fail to understand you have to make the money before you can spend it. They also fail to recognise that government spending is the most inefficient spending because it isn’t their money so they don’t spend it wisely. We should stop taxing the incomes of the UK public and let them spend their money as they see fit - using the power of the market to get cheaper healthcare, education, social insurance and housing. We need less taxes, less government spending and more personal freedom.
Not sure why the browser has inserted tags into my reply,
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