Anon, I think they mean that each time a tax is applied it won't be a lot, relative to the amounts being taxed it will be miniscule.
The "a lot" comes from the accumalitive effect of all these "not a lots" - much the same as for example the vat on a wheel nut for example. Lots of wheelnuts sold = lots of tax from wheelnuts.
My apolopies. Saying something is "bollocks" is neither big nor clever.
The idea is nice in principle but how would it work in practice? Who would operate it? Surely it would have to be global to work at all and what if one place decided not to implement it? How would clever people be prevented from avoiding it? Would it replace existing taxes or be in addition, because I feel like I pay plenty already!
The idea has been around for a very long time and dismissed each time it is suggested.
Very true. All it would do is make the cost of doing business a bit higher. It won't be individual bankers paying the tax, it will all go into the costs of running a fund and get passed onto the investors in a fund, who are:
Hermes - Individual BT workers USS - Academics and universities pension funds Scottish Widows - my pension etc
In short, it is yet another raid on pensions and investments for the private sector plus as you so rightly put it, it is totally unworkable unless it is global.
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my problem is they both claim "the tax isn't a lot" but also that it will raise over 50 billion a year...
ReplyDeleteit's either "a tiny tax" or it'll raise a lot of money, it can't be both
Anon, I think they mean that each time a tax is applied it won't be a lot, relative to the amounts being taxed it will be miniscule.
ReplyDeleteThe "a lot" comes from the accumalitive effect of all these "not a lots" - much the same as for example the vat on a wheel nut for example. Lots of wheelnuts sold = lots of tax from wheelnuts.
I think I love Bill Nighy a little bit more for doing that.
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Yeah, but ultimately the idea is bollocks.
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ReplyDeleteThe idea is nice in principle but how would it work in practice? Who would operate it? Surely it would have to be global to work at all and what if one place decided not to implement it? How would clever people be prevented from avoiding it? Would it replace existing taxes or be in addition, because I feel like I pay plenty already!
The idea has been around for a very long time and dismissed each time it is suggested.
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Hermes - Individual BT workers
USS - Academics and universities pension funds
Scottish Widows - my pension etc
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