Originally posted by tim123
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Look, tax levels would always be too high to those that pay them, however if you have a correct lower taxation for those who invest long-term, rather than speculate short-term, then even if you want to take it all away you can't do this retrospectively!.
What happened is that people who made decision to keep business asset for years are now screwed because from 1st of Jan they turn out to be total fools, their long term investment strategy suddenly has different returns. Is this fair to make such changes that affect things retrospectively? No!
The matter of fact is that big VCs won't even be affected too much with these changes - they are rich and international enough to create offshore schemes that will keep them away from taxation anyway, it is those who choose to actually have businesses in the UK that will be screwed by tax raise, although speculators are very happy to pay less tax on their short term games.
Let me repeat once more - making negative tax changes should never affect people who played by the book - this new tax regime should only apply to new business assets bought after 1st Jan, but of course it does not because desperate Brown needs tax revenues now, so he is just fine with robbing the people who trusted his policy of encouraging long term business investment.
I am suprised anyone pays anything extra into their pensions - they were robbed before and will surely be robbed again, you can't even take your money out when you hear of changes to pension rules, ffs, I may have been on the sidelines about Labour but now I am extremely angry with them
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