Call Me Dave has said big cuts are coming - not for years but for
decades! But are cuts desirable or even necessary?

http://www.financialreform.info/f_r_...ow_slaves.html

Yes, cuts are necessary. Over-spending should never have happened in
the first place, but where you over-eat jam yesterday, you forego bread
today and go hungry tomorrow. It's that simple.

The Maastricht Treaty is, in this respect, a red herring. Obligated
government spending, however, which originates from other
implementations of European directives, remain the more insidious problem.


thedarkman wrote:
Call Me Dave has said big cuts are coming - not for years but for
decades! But are cuts desirable or even necessary?

http://www.financialreform.info/f_r_...ow_slaves.html

--

mjt

On 7 June, 13:28, mjt95 wrote:
Yes, cuts are necessary. *Over-spending should never have happened in
the first place, but where you over-eat jam yesterday, you forego bread
today and go hungry tomorrow. *It's that simple.

The Maastricht Treaty is, in this respect, a red herring. *Obligated
government spending, however, which originates from other
implementations of European directives, remain the more insidious problem..

thedarkman wrote:
Call Me Dave has said big cuts are coming - not for years but for
decades! But are cuts desirable or even necessary?

http://www.financialreform.info/f_r_...ow_slaves.html

--

mjt

The alternative to cuts are rising taxes.VAT to say 25%, income tax
and NI.Probably better in the long run to stop spending so much.

On Tue, 8 Jun 2010 01:55:07 -0700 (PDT), mick
wrote:

On 7 June, 13:28, mjt95 wrote:
Yes, cuts are necessary. *Over-spending should never have happened in
the first place, but where you over-eat jam yesterday, you forego bread
today and go hungry tomorrow. *It's that simple.

The Maastricht Treaty is, in this respect, a red herring. *Obligated
government spending, however, which originates from other
implementations of European directives, remain the more insidious problem.

thedarkman wrote:
Call Me Dave has said big cuts are coming - not for years but for
decades! But are cuts desirable or even necessary?

http://www.financialreform.info/f_r_...ow_slaves.html

--

mjt

The alternative to cuts are rising taxes.VAT to say 25%, income tax
and NI.Probably better in the long run to stop spending so much.

Or get the banks to repay their debts?
--
(\__/) M.
(='.'=) Due to the amount of spam posted via googlegroups and
(")_(") their inaction to the problem. I am blocking some articles
posted from there. If you wish your postings to be seen by
everyone you will need use a different method of posting.

On 8 June, 12:36, Mark wrote:
On Tue, 8 Jun 2010 01:55:07 -0700 (PDT), mick





wrote:
On 7 June, 13:28, mjt95 wrote:
Yes, cuts are necessary. *Over-spending should never have happened in
the first place, but where you over-eat jam yesterday, you forego bread
today and go hungry tomorrow. *It's that simple.

The Maastricht Treaty is, in this respect, a red herring. *Obligated
government spending, however, which originates from other
implementations of European directives, remain the more insidious problem.

thedarkman wrote:
Call Me Dave has said big cuts are coming - not for years but for
decades! But are cuts desirable or even necessary?

http://www.financialreform.info/f_r_...ow_slaves.html

--

mjt

The alternative to cuts are rising taxes.VAT to say 25%, income tax
and NI.Probably better in the long run to stop spending so much.

Or get the banks to repay their debts?
--
(\__/) *M.
(='.'=) Due to the amount of spam posted via googlegroups and
(")_(") their inaction to the problem. I am blocking some articles
posted from there. *If you wish your postings to be seen by
everyone you will need use a different method of posting.- Hide quoted text -

- Show quoted text -

There is £850b of toxic loans belonging to RBS insured by the
Government, this is more than the National Debt.
Yet we don't have any idea what the situation is with these toxic
loans.

mick wrote:

The alternative to cuts are rising taxes.VAT to say 25%, income tax
and NI.Probably better in the long run to stop spending so much.

Whoa! You're just a radical aren't you?

Yes, VAT will undoubtedly increase because it's instant - no waiting
around for year end assessments. To soften the blow, it might be
accompanied by the phased introduction of the £10k income tax limit -
say £1000/year over five years.

So how much is VAT going to increase? The recent temporary drop to 15%
didn't seem to have much effect, so they might conclude that an increase
to 20% wouldn't frighten the horses, and it would bring in £13
Billion/year. Combined with the £6 Billion already announced, it will
certainly reduce the deficit significantly - and still leave the UK in
the middle ranks of VAT rates.

I'm sort of optimistic that other spending reductions will occur, so
that we don't over-tax ourselves and stop the recovery.

--

Doug

Doug writes:

So how much is VAT going to increase? The recent temporary drop to 15%
didn't seem to have much effect,

Which should *not* have been temporary. VAT was increased to 17.5% to
fund the (short term) extra expenditure[1] involved in the move from
Community Charge (aka Poll Tax) to Council Tax.

[1] ISTR that it was to fund some sort of relief payments.

On Wed, 09 Jun 2010 21:48:17 +0100, Doug wrote:

mick wrote:

The alternative to cuts are rising taxes.VAT to say 25%, income tax
and NI.Probably better in the long run to stop spending so much.

Whoa! You're just a radical aren't you?

Yes, VAT will undoubtedly increase because it's instant - no waiting
around for year end assessments. To soften the blow, it might be
accompanied by the phased introduction of the £10k income tax limit -
say £1000/year over five years.

So how much is VAT going to increase? The recent temporary drop to 15%
didn't seem to have much effect, so they might conclude that an increase
to 20% wouldn't frighten the horses, and it would bring in £13
Billion/year. Combined with the £6 Billion already announced, it will
certainly reduce the deficit significantly - and still leave the UK in
the middle ranks of VAT rates.

Although 20% VAT would be comparible to other countries remember that
we are more heavily taxed in other areas.

In addition increasing VAT and raising income tax rates could just be
a sleight of hand where overall tax rates are about the same. However
it might help the poor a little which I would be in favour of.

I'm sort of optimistic that other spending reductions will occur, so
that we don't over-tax ourselves and stop the recovery.

As long as the cuts are in the "right" places, which I doubt.

--
(\__/) M.
(='.'=) Due to the amount of spam posted via googlegroups and
(")_(") their inaction to the problem. I am blocking some articles
posted from there. If you wish your postings to be seen by
everyone you will need use a different method of posting.

"Graham Murray" wrote in message
...
Doug writes:

So how much is VAT going to increase? The recent temporary drop to 15%
didn't seem to have much effect,

Which should *not* have been temporary. VAT was increased to 17.5% to
fund the (short term) extra expenditure[1] involved in the move from
Community Charge (aka Poll Tax) to Council Tax.

[1] ISTR that it was to fund some sort of relief payments.

And kept on to fund the decreasing spiral down to 20% Income Tax.

tim

"Mark" wrote in message
...
On Wed, 09 Jun 2010 21:48:17 +0100, Doug wrote:

mick wrote:

The alternative to cuts are rising taxes.VAT to say 25%, income tax
and NI.Probably better in the long run to stop spending so much.

Whoa! You're just a radical aren't you?

Yes, VAT will undoubtedly increase because it's instant - no waiting
around for year end assessments. To soften the blow, it might be
accompanied by the phased introduction of the £10k income tax limit -
say £1000/year over five years.

So how much is VAT going to increase? The recent temporary drop to 15%
didn't seem to have much effect, so they might conclude that an increase
to 20% wouldn't frighten the horses, and it would bring in £13
Billion/year. Combined with the £6 Billion already announced, it will
certainly reduce the deficit significantly - and still leave the UK in
the middle ranks of VAT rates.

Although 20% VAT would be comparible to other countries remember that
we are more heavily taxed in other areas.

But not in all. Most countries have NI rates which are twice ours

tim