No, it’s a question of resources.Conservatives were at the door again today.
The only party that ever bothers to come round.
I'm not sure if it's because other party candidates are useless or they're just afraid of leafy suburbs.
Ah yes, good old VAT. It taxes the poor at a higher overall rate than the rich (don't take my word for it, ask the ONS) so no wonder That Bloody Woman loved it.I was tempted to come in on this which is very rare for me now a days. Margaret Thatcher was a strong advocate of what you have just suggested. She believed that assets and income should be lowly taxed, if at all, in order to encourage hard work and thrift. She loved applying tax to expenditure and if my memory serves me correct, she forced Geoffrey Howe to increase VAT from 8% to 15% to discourage expenditure whilst the the standard rate of income tax went from 33p in the Pound down to 30p. Applying VAT on everything without exception, albeit at a lower rate would tie in completely with Thatchers policy.
So tax would be raised from those who spent money and not on those who earned it.
You really should pop into your local Conservative Club, you would fit right in.
After decades of receiving money from criminals, non dom tax dodgers and Russian oligarchs, the Tories are so awash with filthy lucre and ill-gotten gains, they need to throw money at door knockers for tax purposes
No, not really. The marginal transaction tax I had in mind would be on the order of a fraction of one percent, but would apply to every transaction (in theory). This would mean that the likes of Amazon, Meta and all the offshored entities would have a small fraction of every transaction shaved off, as would people doing regular, everyday business. So every time you shift your share portfolio around, or move money between your ISAs and your current account, or withdraw some pension, the state would take a tiny cut. Just as it would when you buy your G&T down the Con club, or renew your subscription to Smug Tory Monthly. It's not about fiddling with the rates of VAT. If you hold with the principle of taxation at all, then it would seem logical and reasonable to tax everything, rather than create loopholes and escape routes by being selective as to what is taxed. And in doing so, the rate at which you tax, can come right down.I was tempted to come in on this which is very rare for me now a days. Margaret Thatcher was a strong advocate of what you have just suggested. She believed that assets and income should be lowly taxed, if at all, in order to encourage hard work and thrift. She loved applying tax to expenditure and if my memory serves me correct, she forced Geoffrey Howe to increase VAT from 8% to 15% to discourage expenditure whilst the the standard rate of income tax went from 33p in the Pound down to 30p. Applying VAT on everything without exception, albeit at a lower rate would tie in completely with Thatchers policy.
So tax would be raised from those who spent money and not on those who earned it.
You really should pop into your local Conservative Club, you would fit right in.
Tory Britain, the best of all possible worlds.Out in Tower Hamlets yesterday. Everyone seemed very chipper - shops, cafes, pubs, and restaurants full of all types having a good time and spending, spending, spending. Loads on bikes and running. Many out with their dogs. Even the graffiti was popping. It's not all doom and gloom on the ground.
No, not really. The marginal transaction tax I had in mind would be on the order of a fraction of one percent, but would apply to every transaction (in theory). This would mean that the likes of Amazon, Meta and all the offshored entities would have a small fraction of every transaction shaved off, as would people doing regular, everyday business. So every time you shift your share portfolio around, or move money between your ISAs and your current account, or withdraw some pension, the state would take a tiny cut. Just as it would when you buy your G&T down the Con club, or renew your subscription to Smug Tory Monthly. It's not about fiddling with the rates of VAT. If you hold with the principle of taxation at all, then it would seem logical and reasonable to tax everything, rather than create loopholes and escape routes by being selective as to what is taxed. And in doing so, the rate at which you tax, can come right down.
However do we really need cash in this day and age. I put £200 in my wallet in January 2021 and I still have over £80 left. Card is king and keeps everything trackable.
It is. I go to a local climbing wall, they have recently done a large refurb and part of the change is card only. They said exactly this, and also that they get charged to deposit the day's takings in cash, quite apart from the hazards of travelling across a city with a few thousand pounds in a bag every day.Likewise. Safer for the retailer too, what`s not in the till can`t be stolen.
Likewise. Safer for the retailer too, what`s not in the till can`t be stolen.
Likewise. Safer for the retailer too, what`s not in the till can`t be stolen.
I imagine it might trigger a small resurgence in the cash economy, but mainly among the poorest and lowest-earning parts of society. If anybody needs the breaks, it's them and not the richest, so (to quote a certain Mr Mandelson) I'm intensely relaxed about that risk.Yes I believe the purchase of any goods and/or services should be taxed. You spend the money, you pay the tax, simple as that. There is no need for any loopholes.
The only disadvantage is that it would encourage the cash in hand type of transactions. However do we really need cash in this day and age. I put £200 in my wallet in January 2021 and I still have over £80 left. Card is king and keeps everything trackable.
Yes I believe the purchase of any goods and/or services should be taxed. You spend the money, you pay the tax, simple as that. There is no need for any loopholes.
The bank always wins.
That`s as certain as death and taxes.
Of course, but many retailers get shafted by this, which is why some prefer bank transfer / cash. The bid to ban cash is utopia for the govt / banks.