Originally Posted by Ken Moss (Post 824130)

I fully understand the reasoning behind it and on paper it does make sense but in essence VAT has now gone up 5% in a year. I know that's figure-fiddling but it is sort of true.

Originally Posted by jaysay (Post 823852)

The thing with VAT Ken is that everybody pays it and those more well off and spend more pay more. I agree with your on the benefits system, but radical changes can't be done at one stroke of the pen, Hasn't the coalition brought Alan Hutton (former Labour Minister) in to look at what can be don't, which to me is a positive step. I have no problem with those in need getting the help they require, but we all know at least two or three people who are swinging it and have been doing for years, in some cases living on benefits runs through generations, with these people having no intentions of ever working if they can get away with it, unfortunately these instances are far more rife than people realise

Originally Posted by Eric (Post 824223)

I think you misunderstand the regressive nature of the VAT, and sales taxes in general. If all spending were discretionary, then you might have a point; however, spending is not based on shopoholic whims. Rich and poor alike need food and shelter, even poor kids would like the odd gift at Christmas, and warm clothing in winter. That the poor are taxed at the same rate as the rich for the necessities of life is an obscenity that appears equitable only to tories. And still, the only good tory is a suppository.

Originally Posted by steeljack (Post 824225)

I'm thinking I'm paying/contributing more than my fair share when I pay 20% tax ($8) on a $40 steak dinner plus tip, than someone paying 60 cents tax on a $3 value meal (double cheeseburger, fries and a coke) at McDonalds (no tip) .
Would also like to think I am adding to the economy with my $40 steak since the restaurant also has to employ folks to wash and iron the 'white' table cloths , wait staff, bus-'boys' and dish washers.

Incidentally some of us also care about the environment and disposable plastic eating implements and paper plates just dont pass muster so thats why I use hole in the wall 'mom and pop ' diners if I need a fast food fix . ;)

Originally Posted by Ken Moss (Post 824130)

I fully understand the reasoning behind it and on paper it does make sense but in essence VAT has now gone up 5% in a year. I know that's figure-fiddling but it is sort of true. It also means that people will be more inclined to tighten their belts and warnings of a double-dip recession are not entirely without merit.

62 million people are now paying a heavy price for the greed of a few hundred bankers, where is the nasty levy on them? 8bn over 4 years between them?

Cheers Gideon, that'll show 'em.

Originally Posted by Eric (Post 824223)

I think you misunderstand the regressive nature of the VAT, and sales taxes in general. If all spending were discretionary, then you might have a point; however, spending is not based on shopaholic whims. Rich and poor alike need food and shelter, even poor kids would like the odd gift at Christmas, and warm clothing in winter. That the poor are taxed at the same rate as the rich for the necessities of life is an obscenity that appears equitable only to tories. And still, the only good tory is a suppository.

Originally Posted by jaysay (Post 824253)

The reason there is not wholesale attack on the Banks is in your own argument Ken a double dip recession, the problems was the lifting of bank restrictions by Gordon and his chums, the decision on bank levies will have been taken under consultation with the Bank of England

Originally Posted by cashman (Post 824257)

it don't need the bank of england to tell anyone these thieves, are earning bonuses fer crucifying the country.:(

Originally Posted by jaysay (Post 824264)

I think its a tad more complicated than that now cashy

Originally Posted by cashman (Post 824266)

it is, but as the Banks had to be bailed out through stupidity, they to my mind should be FIRST to pay the piper, not ordinary people.:rolleyes:

Originally Posted by garinda (Post 824277)

It's like we've been looked after by some trippy hippies, who gave us everything we wanted.

Unfortunately mum and dad are back now, and are having to pay for all the damage to the wrecked house.

I did try to warn those daft hippies not to post that we were having an open house, on social network sites, knowing every Tom, Dick, and Harry would crash the party.

:rolleyes:

:D

Originally Posted by DaveinGermany (Post 824149)

Steady young Kenneth or we could be calling foul here :) The increase of 5% is a slight wobble of the truth now isn't it ? a gentle reminder possibly ?

HM Revenue & Customs: Accounting for VAT when the standard rate of VAT returned to 17.5 per cent

So in actual fact the Coalition have raised it by 2.5%, agreed :o For shame !! And you a locally elected member too :D Still I suppose if you want to mix it with the "Big Boys" you have to learn to play by their rules I suppose.