Gordon Brown annouces tax rises

[David Lindon]

Gordon Brown has just announced his new stealth tax by added a new income tax bracket of 45% for those earning > 150,000

This has been hidden by the announcement of the reduction of VAT from 17.5% to 15% - but stores do not necessarily have to pass this on to consumers. So are we likely to see any fall in prices? I don't think so. Fuel, alcohol and cigarrets have had their duty increased so as to not benefit from the fall in VAT.

 

[Kage]

Yep, its just useless government banter at its best.

 

[crappybob]

45% if you make over 150,000? Thats crazy!! The government can only last so long once they start discouraging their citizens from succeeding.

The U.S. is not quite that bad on taxes yet, but I am sure Obama will do his part to give you guys a run for your money. (pun intended)

 

[UK31337]

FAIL. The Queen should have a load of P45s printed up for the Cabinet, we haven't had this kind of governmental trainwreck since Jim Callaghan in 1979.

Like I said in the other thread, it's poorly disguised propaganda so that braindeads, illegal immigrants and unemployed scum might be fooled into voting Labour at the next election.

Where's J03?

 

[J03]

j03s here. I agree, this sucks balls. But what else can they do?

 

[crappybob]

What is the VAT ? Is that like a sales tax? If sales tax got lowered from 17 to 15% that still sucks. I thought 8% here was freaking obscene.

 

[David Lindon]

What is the VAT ? Is that like a sales tax? If sales tax got lowered from 17 to 15% that still sucks. I thought 8% here was freaking obscene.

Exactly, thats why our Economy is failing!

 

[Computer Head]

Tax Rate in my state: 6%

 

[root]

the taxes are to pay off the debt of a trillion pounds that the country now finds itself in.
and to stimulate the economy in times of recession.

as for the trillion pounds debt...
As seen elsewhere:



If a Trillion Pounds were the GDP of a country, it would qualify as the 13th richest nation (just behind India).





Its almost 12,000 times the number of £1 coins currently in circulation.





If there were enough £1 coins available; you'd need a colossal 10 million tonnes of them. Which is the approximate weight of 32 of the World's largest Supertankers.





Or you might attempt 385,000 Great Train Robberies? Although Acapulco might get a little crowded afterwards.





How about if on the day that Queen Victoria died you dragged £25 million Pounds in used notes off into the woods and burnt them; and then repeated the exercise EVERY day since? You'd still be two years short of destroying a Trillion Pounds.





Assuming the Government were able to pay back the Debt at a rate of £20 Billion a year, it wouldn't be repaid until the year 2060 (not including the huge interest payments meantime).





Alternatively, you could close every school in the UK, sack all the teachers and maybe pay it back in less than 30 years.





Its 5 times the entire economy of Hong Kong.





Its 30 times the size of our Defence budget or approximately equal to the USA's massive defence spending.





If it were turned into £20 notes you'd need 2000 Securicor vans to move it.

 

[IAntDemo]

how about scrap all that and just print more flipping money god damit