Reply to: Umbrella companies to be abolished

[scooterscot]

Umbrella's should be abolished as should one man Ltd. Instead introduce cash accounting, plenty simple.

[DimPrawn]

We are at the end of the current economic cycle, we have massive debt, and brexit is about to begin. All parties will have to tighten spending and raise taxes. You've never had it so good. Hope you made the most out of it while the sun was shining.

I've bought 50 BTL properties, 1/4 Tonne of gold, 2000 BitCoins and shares in every company on planet. I think I made the most of it.

[Addanc]

We are at the end of the current economic cycle, we have massive debt, and brexit is about to begin. All parties will have to tighten spending and raise taxes...

Bollocks The only principle to come out of the pseudo science of economics with any real world data to back it up is the Laffer curve; I would disrespectfully suggest that if taxes go higher their is a high probability that tax take will reduce (companies move elsewhere, people reduce their economic effort, etc); with a debt of 1.7 trillion (a mind boggling large sum) tinkering with taxes in attempt to increase revenue will not even clear the deficit by the end of the next Parliament. The next Government needs to spend less (cancel HS2, cull the Quangos) and go for growth (reduce taxes to encourage business).

[Smartie]

Citizens Income will solve all that.

Just got to tax the robots and computers to pay for it all.

We'll have to do exactly that at some point and probably in the next few years.

If corporations own both the capital and the means of production, then no-one gets paid and no-one can afford the goods/services that the corporation produces.

[Hobosapien]

Citizens Income will solve all that.

Just got to tax the robots and computers to pay for it all.

[SueEllen]

Alternatively they can just make high sugar food cheaper.

Result more people will due before retirement due to obesity related illnesses.

[AtW]

Well increasing the state pension age and more people doing manual work and no NHS will mean it will work as people will die off before retiring.

[SueEllen]

It's going to be a very tiny jar...

Well increasing the state pension age and more people doing manual work and no NHS will mean it will work as people will die off before retiring.

[AtW]

Nope. The jar won't be empty. It will be filled with what was called the "State Pension" and the state pension won't exist any more.

It's going to be a very tiny jar...

[sasguru]

You saying the government are using auto enrolment workplace pensions as a form of NIC increase to their coffers, and anyone contributing to such a pension scheme should not be surprised to find the coffer jar empty when we later want to put our hand in it?

I accept there are no real distinct parties anymore. May as well have an 'all of the above' on the voting slip and let us pick and choose the manifesto promises we would like them to at least attempt to follow up on. Majority rule on the chosen ones. Someday they'll computerise it all so this is how a new government is formed.

The people seem to want National Socialism and that is what they are going to get.
It's a perfectly rational economic system for the short term, the fact that a far right party in Germany used it in the 30s (and got named after it) is neither here nor there.
The problem is that National Socialism is inherently protectionist and a cursory understanding of economic history indicates that protectionist systems only work in the short term.

[SueEllen]

Crumbs.

And if not even those are left, what will all those trusting their state/workplace pensions are safe live off when the time comes?

I think the more likely outcome is they'll continue to increase the national debt for decades to come until there's an incident that reduces the dependant population one way or another, such as a dodgy batch of flu jabs killing off all the OAPs.

You know before the Brexit stuff they were suppose to increase the state pension age if you were under 48?

Well due to Brexit they will ignore it for a while then when the people who are now 48 are 54 will suddenly go "Oh tulip we need to increase the pension age by 2 years" and then bring it in immediately.

[Hobosapien]

Crumbs.

And if not even those are left, what will all those trusting their state/workplace pensions are safe live off when the time comes?

I think the more likely outcome is they'll continue to increase the national debt for decades to come until there's an incident that reduces the dependant population one way or another, such as a dodgy batch of flu jabs killing off all the OAPs.

[SueEllen]

Yup.

Nope.

The jar won't be empty. It will be filled with what was called the "State Pension" and the state pension won't exist any more.

[AtW]

You saying the government are using auto enrolment workplace pensions as a form of NIC increase to their coffers, and anyone contributing to such a pension scheme should not be surprised to find the coffer jar empty when we later want to put our hand in it?

Yup.

[Hobosapien]

There is no Tory party anymore.

I don't know if May abolishes umbrellas, but I certainly would not be surprised - let's not forget about new NICs sneaked in under the guise of "auto-enrollment", this tulip works best if people are employees working directly for company: it's very important for "Tories" that this pension scam goes through as smoothly as possible.

You saying the government are using auto enrolment workplace pensions as a form of NIC increase to their coffers, and anyone contributing to such a pension scheme should not be surprised to find the coffer jar empty when we later want to put our hand in it?

I accept there are no real distinct parties anymore. May as well have an 'all of the above' on the voting slip and let us pick and choose the manifesto promises we would like them to at least attempt to follow up on. Majority rule on the chosen ones. Someday they'll computerise it all so this is how a new government is formed.