Does it also tell us that unlimited inflation is also good? The thing that wipes out non-index-linked pensions?
When the MMT fans also show us how to print goods and services, as well as unbacked currency, then I'll start listening to them.
Not so. An attempt to shore up pension funds. Seems most of those unload gilts automatically when things get bad.
Wikipedia is compromised and highly woke. It's not a reliable source of information any more (if it ever was, given any tosser can write for it).
It is a normal response to a slumping currency and has been done before.
No.
That isn't true either.
Let's see now. You reduce the income needed to run the country by cutting taxes. And make up the difference by borrowing. Remind us of just how your own business failed?
Has anyone calculated the loss of income tax versus the increase in VAT income from people spending more?
Most higher rate tax payers are least likely to spend much of their newly found untaxed income on goods subject to VAT.
It is a well known feature that people on low incomes pay a disproportional amount of their income on VAT.
ROFLMAO! Our Dave thinks that his taxes go on 'running the country'?
Bless!
Why on earth do you use the term "running the country"? It's the sort of riposte I might expect from an art student, who's wet behind the ears.
Are you a former socialist, so you immediately know what socialists think? Do you feel the need to decide how others 'think'?
Clearly you don't have a clue.
Aren't yachts subject to VAT? :)
What you think top rate taxpayers are going to buy more TV's or something ?
If they've got any sense, they'll be investing that extra income;only not in sterling or gilts or in any UK based investments or assets, at all. A new swimming pool for that hideaway in France perhaps ? Or maybe a Swiss chalet as well ? The world is their oyster.
Its called "trickle abroad" as has been the case , ever since the wholesale abolition of exchange controls
bb
Not generally.
Even ones built here will be exported to a friendly tax country before sale.
Yes, if you're stupid enough to buy one in the UK or buying one as a VAT registered entity for non-personal use of course.
Exchange controls simply mean your money is work more offshore than on, and encourages foreign transfers.
If you still believe you're right, and indeed you may, do feel free to cite articles supporting your belief.
How can that be?
The rate is the same (other than for domestic energy).
Foodstuffs are zero-rated.
But believe that the tax cut will stimulate the economy and so the income will not be reduced forever.
That approach has worked in the past. It remains to be seen if it will for Britain this time.
That was in the days before everything was made in China.
Or owned by some foreign company or other, with the profits disappearing abroad
The British companies worth owning, are probably being bought up right now, given the state of the pound.
bb
Not possible to calculate because it is unknown how much of the saving in income tax will be spent on VATed purchases.
But may not in this case if they spend it on un taxed food.
Taxation and MMT:
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