Comments by "Greg Greg" (@SlowhandGreg) on "GBNews"
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So protests are allowed if they don't upset anyone?
Suffragettes would be banned now and they resorted to far more activist campaign
stop vilifying the messenger and listen to the message
Renewable energy is cheaper than fossil
and
we are paying hundreds of billions in fossil subsidies
quote
Boué highlights the decision in 2016 by the then Chancellor, George Osborne, to zero-rate, rather than repeal, petroleum revenue tax. This meant that oil companies stopped paying any tax, but could still claim rebates from the government for the cost of decommissioning old oil rigs, estimated at £51 billion ($66bn) by energy consultants, Wood Mackenzie.
The UK Office for Budget Responsibility has forecast that between 2016 and 2022 petroleum revenue tax will result in a net loss to the exchequer of £500 million a year. “The UK government will be footing the bill for around 45 per cent of the future decommissioning costs in the North Sea,” Boué says.
“British taxpayers can look forward to a future in which the country will still be producing quite substantial volumes of oil and gas, but the petroleum fiscal income that the UK government will derive therefrom will be at best marginal, or more likely be negative.”
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@mn5499 no there isn't I presume your a millionaire
Quote
"Based on our research, we would argue that the economic rationale for keeping taxes on the rich low is weak," Julian Limberg, a co-author of the study and a lecturer in public policy at King's College London, said in an email to CBS MoneyWatch. "In fact, if we look back into history, the period with the highest taxes on the rich — the postwar period — was also a period with high economic growth and low unemployment.
Quote
Start with the economy. Over the course of the neoliberal era, economies around the world have become more and more unequal. In the United States, the wealthiest 1 percent took home about 8.5 percent of the national income in 1976. After a generation of neoliberal policies, in 2014 they captured more than 20 percent of national income. In Britain, the top 1 percent captured more than 14 percent of national income—more than double the amount they took home in the late 1970s. The story is the same in Australia: The top 1 percent took about 5 percent of national income in the 1970s and doubled that to 10 percent by the late 2000s. As the rich get richer, wages have been stagnant for workers since the late 1970s. Between 1979 and 2008, 100 percent of income growth in the U.S. went to the top 10 percent of Americans. The bottom 90 percent actually saw a decline in their income.
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We have eye watering levels of personal taxation due to Thatcherism = Supply Side Economics
We have private utilities we have no control over because Thatcherism
We have no control over our North Sea deposits because Thatcherism
Osborne Sunak same old failed policies recycled Thatcher got away with it by bribing people with Oil tax money and a one off sale of Britain's assets its a total failure since
Supply-side economics assumes that lower tax rates boost economic growth by giving people incentives to work, save, and invest more. A critical tenet of this theory is that giving tax cuts to high-income people produces greater economic benefits than giving tax cuts to lower-income folks. Essentially, the more money the rich are able to keep, the more the whole economy will grow.
But the evidence reveals two fundamental problems with this story. First, its primary prediction is wrong—giving tax cuts to the rich does not increase economic output or create new jobs. Instead, tax cuts for middle- and low-income taxpayers are much more effective at boosting macroeconomic activity. Second, supply-side theory misunderstands the actual mechanism by which tax rates influence macroeconomic activity. While supply-siders maintain that lower rates at the top incentivize people to earn more money, the evidence shows that tax cuts boost output mostly by putting money in people’s pockets and thereby stimulating demand.
Why is supply-side economics controversial?
Opponents of supply-side economics argue that rather than increasing revenue for the government, lowering taxes will instead increase the deficit. As a result, the government will have to cut programs or raise other taxes to make up for this shortfall, unless it wishes to run a permanent deficit.
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Free Market Economist?
Supply-side economics assumes that lower tax rates boost economic growth by giving people incentives to work, save, and invest more. A critical tenet of this theory is that giving tax cuts to high-income people produces greater economic benefits than giving tax cuts to lower-income folks. Essentially, the more money the rich are able to keep, the more the whole economy will grow.
But the evidence reveals two fundamental problems with this story. First, its primary prediction is wrong—giving tax cuts to the rich does not increase economic output or create new jobs. Instead, tax cuts for middle- and low-income taxpayers are much more effective at boosting macroeconomic activity. Second, supply-side theory misunderstands the actual mechanism by which tax rates influence macroeconomic activity. While supply-siders maintain that lower rates at the top incentivize people to earn more money, the evidence shows that tax cuts boost output mostly by putting money in people’s pockets and thereby stimulating demand.
Why is supply-side economics controversial?
Opponents of supply-side economics argue that rather than increasing revenue for the government, lowering taxes will instead increase the deficit. As a result, the government will have to cut programs or raise other taxes to make up for this shortfall, unless it wishes to run a permanent deficit.
So free Markets don't work for 99% of the economy
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Why would you ever vote Conservative I'm curious since the age of Thatcher they have pushed Supply Side Trickle Down economics that has devastated large parts of the country and Reform are a more extreme version.
Germany managed to keep large parts of its manufacturing during the change we just boarded ours up, the Thatcher economy was kept afloat by Asset Stripping, Oil Money and Council House giveaways with the money plowed into bribing a generation.
Blair / Brown slowed it right down as soon as Cameron came in it was back to Supply Side Trickle down with devastating effects which are going to see 2 decades of economic stagnation.
As an example 2 billion was in the budget for millionaire pensioners that had to be paid for by freezing tax allowances at the bottom
This is what you kept voting for
quote
Luxury goods boom in Britain as super-rich youngsters buck the recession
Rich kids fuel sales of brands such as Burberry, Louis Vuitton and Gucci
They’re young, rich and mortgage-free, and the scions of the 1% are having a roaring twenties.
Despite the economic gloom currently shrouding the UK and many other western countries, sales of luxury brands have been booming and growing numbers of buyers are young adults.
Swiss watches, Louis Vuitton trainers, rare Birkin bags and 81-year-old whiskies are among the products that are fuelling impressive growth in the bottom lines of luxury brands such as LVMH, Burberry and Kering.
Imports of Swiss watches to the UK were up by 31% in the first half of 2022, according to the Federation of the Swiss Watch Industry – the average spend at the Watches of Switzerland group being about £6,000. Meanwhile, sales of watches below £2,500, sometimes referred to as “mid-range”, are falling.
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@markbanner6473 The current economic plight is rooted in Thatcherism (Supply Side Economics ) and Brexit both tenants of the current regime put both together and your going to have a collapsing economy that will take years to even get back to anything like real growth.
Supply-side economics assumes that lower tax rates boost economic growth by giving people incentives to work, save, and invest more. A critical tenet of this theory is that giving tax cuts to high-income people produces greater economic benefits than giving tax cuts to lower-income folks. Essentially, the more money the rich are able to keep, the more the whole economy will grow.
But the evidence reveals two fundamental problems with this story. First, its primary prediction is wrong—giving tax cuts to the rich does not increase economic output or create new jobs. Instead, tax cuts for middle- and low-income taxpayers are much more effective at boosting macroeconomic activity. Second, supply-side theory misunderstands the actual mechanism by which tax rates influence macroeconomic activity. While supply-siders maintain that lower rates at the top incentivize people to earn more money, the evidence shows that tax cuts boost output mostly by putting money in people’s pockets and thereby stimulating demand.
Why is supply-side economics controversial?
Opponents of supply-side economics argue that rather than increasing revenue for the government, lowering taxes will instead increase the deficit. As a result, the government will have to cut programs or raise other taxes to make up for this shortfall, unless it wishes to run a permanent deficit.
Most of the UK’s soaring inflation is down to Brexit in an article with Bloomberg Adam Posen a leading US economist said 80 per cent of the reason why the UK will see the highest inflation of any G7 country next year, as per the latest IMF forecasts, is due to the impact of Brexit on immigration and the labour market.
He warned that Britain is showing to be less elastic than its counterparts in its post-pandemic recovery, and that it could be trapped in a high inflationary period for longer.
“You’ve seen a huge drop in migrant labour, a disruption in labour markets that everybody experienced due to Covid and reopening, but with fundamentally less elasticity… and that [Brexit] has to be a major part of it,” he told a conference at Kings College in London yesterday.
“When you look at the monetary factors, the growth factors… the UK doesn’t look that different from the euro area.
“When you look at the macro factors, it’s very difficult to see anything other than the labour market issues.
“There’s been no regulatory changes… It really seems like Brexit has to bear a disproportionate role in explaining the inflation.”
And his analysis doesn't even touch on the trade friction introduced at the borders which has seen a drop of 15% in exports to the EU massive delays and mountains of paperwork adding large huge additional costs on imports/exports.
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