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Think-tank calls for VAT change
http://www.x404.co.uk/forum/viewtopic.php?f=19&t=6743		 Page 1 of 3
Author:  MrStevenRogers [ Fri Mar 05, 2010 4:09 pm ]
Post subject:  Think-tank calls for VAT change
Quote:
Politicians should consider imposing VAT on food, children's clothes and household gas and electricity, a report from a think-tank suggests.

Eliminating the exemptions on VAT would make the levy a less complex tax and bring the UK in line with other nations, according to Reform.

The right-leaning think-tank also questioned the structure, simplicity and certainty of the tax system.

Between 50% and 60% of what the average household buys includes a VAT levy.

VAT returned to 17.5% in the new year after being reduced to 15% on 1 December 2008.


http://news.bbc.co.uk/1/hi/business/8551492.stm

the tax rises have to start somewhere … ho humm …
Author:  Amnesia10 [ Fri Mar 05, 2010 4:28 pm ]
Post subject:  Re: Think-tank calls for VAT change
Yes but not with VAT. Indirect taxes like VAT are regressive. Of course the right wing like them because it hits the bottom 90% of the population harder than the top 10%. The first areas that should be considered are the areas where tax cuts have been made in the past, such as higher income tax, capital gains taxes and only then hitting the poor with VAT hikes. It would also mean that to have no effect on the low paid it would mean a big rise in benefits and minimum wage.
Author:  jonbwfc [ Fri Mar 05, 2010 4:36 pm ]
Post subject:  Re: Think-tank calls for VAT change
Heard some woman from them being interviewed about this on the radio this morning. I would probably categorize her as 'a mental'. The interviewer reached the point of incredulity with her as she barfacedly claimed she'd rather pay 17.5% tax on groceries than 3% extra on luxury goods. I guess he buys a lot more jewelry than bread.

Jon
Author:  AlunD [ Fri Mar 05, 2010 4:37 pm ]
Post subject:  Re: Think-tank calls for VAT change
Adding 20% to the energy bills would just cause huge amounts of suffering for the elderly and worst off. It would be Sheer stupidity IMHO.
Author:  MrStevenRogers [ Fri Mar 05, 2010 4:48 pm ]
Post subject:  Re: Think-tank calls for VAT change
Amnesia10 wrote:
Yes but not with VAT. Indirect taxes like VAT are regressive. Of course the right wing like them because it hits the bottom 90% of the population harder than the top 10%. The first areas that should be considered are the areas where tax cuts have been made in the past, such as higher income tax, capital gains taxes and only then hitting the poor with VAT hikes. It would also mean that to have no effect on the low paid it would mean a big rise in benefits and minimum wage.


the bottom 90% are already bailing out the top 10%
its called taxpayers support for the 'banking' system

it requires a 'river' up affect as opposed to a 'trickle' down affect …
Author:  Amnesia10 [ Fri Mar 05, 2010 4:59 pm ]
Post subject:  Re: Think-tank calls for VAT change
jonbwfc wrote:
Heard some woman from them being interviewed about this on the radio this morning. I would probably categorize her as 'a mental'. The interviewer reached the point of incredulity with her as she barfacedly claimed she'd rather pay 17.5% tax on groceries than 3% extra on luxury goods. I guess he buys a lot more jewelry than bread.

Jon

The reason being that she probably spends a lot less on food than she would on luxuries. That would hit her hard. Though income tax should actually go up along with capital gains taxes. If higher capital gains taxes had been in place we may not have had a property bubble and the MPs would have paid a lot more in taxes on their second homes.
Author:  Amnesia10 [ Fri Mar 05, 2010 5:16 pm ]
Post subject:  Re: Think-tank calls for VAT change
MrStevenRogers wrote:
it requires a 'river' up affect as opposed to a 'trickle' down affect …

Trickle down never ever existed. The taxes that were cut to supposedly encourage trickle down should be reversed.
Author:  MrStevenRogers [ Fri Mar 05, 2010 5:30 pm ]
Post subject:  Re: Think-tank calls for VAT change
Amnesia10 wrote:
MrStevenRogers wrote:
it requires a 'river' up affect as opposed to a 'trickle' down affect …

Trickle down never ever existed. The taxes that were cut to supposedly encourage trickle down should be reversed.



agreed
that is why i believe in a flat rate tax system across the board for everyone
with no 'get out of jail card free' for anyone …
Author:  forquare1 [ Fri Mar 05, 2010 6:04 pm ]
Post subject:  Re: Think-tank calls for VAT change
The 'poor' wouldn't be affected so much, I could foresee extra benefits and various tax-cuts for them. It's the people who are just above the threshold that would be hit worst.
Author:  Amnesia10 [ Fri Mar 05, 2010 6:08 pm ]
Post subject:  Re: Think-tank calls for VAT change
MrStevenRogers wrote:
Amnesia10 wrote:
MrStevenRogers wrote:
it requires a 'river' up affect as opposed to a 'trickle' down affect …

Trickle down never ever existed. The taxes that were cut to supposedly encourage trickle down should be reversed.



agreed
that is why i believe in a flat rate tax system across the board for everyone
with no 'get out of jail card free' for anyone …

Flat rates are even worse.
Author:  Amnesia10 [ Fri Mar 05, 2010 6:40 pm ]
Post subject:  Re: Think-tank calls for VAT change
forquare1 wrote:
It's the people who are just above the threshold that would be hit worst.

+1
Author:  TheHobgob [ Fri Mar 05, 2010 10:17 pm ]
Post subject:  Re: Think-tank calls for VAT change
This can be solved by simply earning more money. When someone figure out how to, let me know.
Author:  cloaked_wolf [ Sat Mar 06, 2010 12:13 am ]
Post subject:  Re: Think-tank calls for VAT change
I think people who earn 100k or more should pay more taxes. Those in the private sector should pay more too.
Author:  AlunD [ Sat Mar 06, 2010 8:07 am ]
Post subject:  Re: Think-tank calls for VAT change
cloaked_wolf wrote:
I think people who earn 100k or more should pay more taxes.

Your wish is my command sir. ;)

In Tax year 2010 - 2011 the 50% band will come into force on income over 150,000
http://www.hmrc.gov.uk/rates/it.htm
Author:  Amnesia10 [ Sat Mar 06, 2010 9:10 am ]
Post subject:  Re: Think-tank calls for VAT change
cloaked_wolf wrote:
I think people who earn 100k or more should pay more taxes. Those in the private sector should pay more too.

+1 but private sector pay is determined by supply and demand, and what they can get away with.
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