New tax bombshell: 20% VAT

[AtW]

We should be taking more punative measures against the banks like the US and making them pay for the tulip they have served us.

You dirty commie!!!

DodgyAgent

[HairyArsedBloke]

******* great!

The bankers **** the economy good and proper, some of them are still going to be getting obscene 'bonus' payments and, we have to pick up the tab for sorting out the mess they created.

We should be taking more punative measures against the banks like the US and making them pay for the tulip they have served us.

If they didn't blame bankers they would find someone else to blame.

[AtW]

If they didn't blame bankers they would find someone else to blame.

You mean like hedge fund managers?

[vetran]

Most sensible move to make its the one tax even tax avoiders like MPs pay.

2.5% won't make a difference to many but it will raise lots.

Unfortunately we have a money pit to feed. Yes we need to fill it in but until we do we have to feed it.

[OwlHoot]

******* great!

The bankers **** the economy good and proper, some of them are still going to be getting obscene 'bonus' payments and, we have to pick up the tab for sorting out the mess they created.

We should be taking more punative measures against the banks like the US and making them pay for the tulip they have served us.

For flip's sake, don't be a chav all your life, and believe the carp the Government would have you believe!

This isn't about bankers. Yes, they are are greedy, like crocodiles are snappy, and warthogs grunty. But try and look at the bigger picture. Who gave the bankers' greed free rein? Governments, for their own ends.

This is ultimately about vast amounts of money being transferred from rich people to poor people, and there are a heck of a lot more of the latter than the former, so much so that the poor are insignificantly better off and the rich (us) will feel far worse off.

Think of pouring sand onto a heap. At some point there will be a sudden mini-avalanche and a whole heap of sand will fall. The peak loses sand, and the rest gains. This isn't a temporary dip, but a step change downwards.

Apologies if the above doesn't make much sense, but I'm as pissed as a mattress.

Might come back and edit it tomorrow if I can think of anything to add.

[d000hg]

So then CUK doom-sayers, WHY is it going to get worse? Before you trot out the "huge national debt" line, note that even AFTER everything Gordon's done, the UK debt is not that worse than other developed countries: http://en.wikipedia.org/wiki/File:Pu..._world_map.svg

So what makes the UK worse off than elsewhere? Or is everywhere just as doomed as we?

[AtW]

So what makes the UK worse off than elsewhere?

It's the increase in speed in which debt was accumulated that's different - in other counties debt was growing steadily and falls in currencies, etc reflected that - in the UK's case the market has not yet fully priced in the fundamental debt change, it hopes thats Cons will win elections and have realistic way of paying it off. If that doesn't happen then pound will have plenty of room to fall - below parity with euro.

That means a healthy 20%+ inflation in food, fuel and other essentials.

HTH

[HairyArsedBloke]

So what makes the UK worse off than elsewhere?

It's not just the quoted debt figures there is the off-balance sheet debts to consider too. Then this is compaired to the countries GDP to see just how affordable that is.

Or is everywhere just as doomed as we?

We are all doomed. Some are more doomed than others.

Sminki

Here is a piece that explains it all. ZeroHedge

Summary, we're all fracked.

[centurian]

So what makes the UK worse off than elsewhere? Or is everywhere just as doomed as we?

Imagine taking a snapshot of the altitudes of aircraft in the sky (where higher altitude is better).

Aircraft UK is at 10,000 feet, which looks considerably better than a number of countries around 7,000 feet.

But while most of the lower aircraft are in a steady descent, Aircraft UK is in a virtual nose-dive. So it's the direction and rate of travel that is more important than the current status.

Even more important are the intentions of those in control. The co-pilot would like to take evasive action, but the captain overrules him denies that there is a problem and refuses to pull up.

His best promise is to half the rate of descent - eventually, but many believe this is too little, too late. Some of the richer passengers have their own parachutes, so are getting ready to bail out, making the aircraft all the more unstable.

Also 3 of the main Air Traffic Control centres are about to downgrade their safety rating, making it harder to gain assistance.

Some of the first class passengers and threatening to sieze control of the aircraft and take drastic measures. Their measures include bailing out some of the luggage, so the passengers will be poorer, but they maintain at least they will survive.

They are calling for a vote among the passengers...


How does this movie end....

[Fred Bloggs]

Biggest problem that I see for the UK is lack of wealth creation through added value- i.e. making things here and selling them abroad for a profit. Without a strong manufacturing export base, the UK has been in steady, terminal decline for over 30 years.