Reply to: Imminent Tax DOOM

[DimPrawn]

US git reserve currency, and EU too - but not UK

Move to EU then, you haven't got long, get your skates on!

[AtW]

Or just live with massive debt, like they do in the US. Maybe treat it like a war loan. Interest rates are dirt cheap, so it won't cost much to service. We may be in for a good dose of inflation at some point which would erode it.

US git reserve currency, and EU too - but not UK

[minestrone]

Only it’s Tory Scum who nuked Entrepreneurs Relief and it will be them who will do Labour planned tax increases.

And Sterling dropped anyway

"I spent a day training a bot with old FT articles and this is what it came up with"

[DealorNoDeal]

Boris Johnson: No public sector pay freeze and no austerity as UK emerges from coronavirus crisis

Massive taxes then

Or just live with massive debt, like they do in the US. Maybe treat it like a war loan. Interest rates are dirt cheap, so it won't cost much to service. We may be in for a good dose of inflation at some point which would erode it.

[AtW]

Boris Johnson: No public sector pay freeze and no austerity as UK emerges from coronavirus crisis

Massive taxes then

[AtW]

The virus of socialism attacks people with brains too it seems.

They are all scum

[elsergiovolador]

Only it’s Tory Scum who nuked Entrepreneurs Relief and it will be them who will do Labour planned tax increases.

And Sterling dropped anyway

The virus of socialism attacks people with brains too it seems.

[AtW]

With Jeremir Corbenin in charge, the currency value would have dropped to 0, so even with tax at 100% you still wouldn't pay a penny (but you would have to drive a truck full of paper).

That if you are not found to be a pesky entrepreneur. These types will be sent to Gulags.

Only it’s Tory Scum who nuked Entrepreneurs Relief and it will be them who will do Labour planned tax increases.

And Sterling dropped anyway

[jamesbrown]

With Jeremir Corbenin in charge, the currency value would have dropped to 0, so even with tax at 100% you still wouldn't pay a penny (but you would have to drive a truck full of paper).

That if you are not found to be a pesky entrepreneur. These types will be sent to Gulags.

Inneresting.

[elsergiovolador]

Same top rates, so no - not cheaper

With Jeremir Corbenin in charge, the currency value would have dropped to 0, so even with tax at 100% you still wouldn't pay a penny (but you would have to drive a truck full of paper).

That if you are not found to be a pesky entrepreneur. These types will be sent to Gulags.

[DoctorStrangelove]

Same top rates, so no - not cheaper

98% top rate by Xmas.

It's being so cheerful that keeps me going.

[AtW]

Still cheaper than if we'd had Komrade Korbyn.

Same top rates, so no - not cheaper

[DimPrawn]

“ Mr Hodges says the figures show a broad increase for all taxpayers will be needed to raise significant funds. He speculates the chancellor could add 1 per cent for basic rate payers, scaling this up to 3 and 5 per cent for higher and additional rate payers (creating new rates of 21, 43 and 50 per cent).”

Subscribe to read | Financial Times

Still cheaper than if we'd had Komrade Korbyn.

[DimPrawn]

“ Mr Hodges says the figures show a broad increase for all taxpayers will be needed to raise significant funds. He speculates the chancellor could add 1 per cent for basic rate payers, scaling this up to 3 and 5 per cent for higher and additional rate payers (creating new rates of 21, 43 and 50 per cent).”

Subscribe to read | Financial Times

Please see my Tax Haven thread for mitigation ideas.

[DealorNoDeal]

Won't the £350m/week we'll be saving, after 1/1/21, cover it?