@_Unknown_D_ 70% marginal tax rate breaks the social contract. The State ceases to have legitimacy. The centre ground goes and society disintegrates.
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cicerorocks
1.8K posts
cicerorocks
@cicerorocks
natural tendencies towards existentialism and utilitarianism; aspirations towards stoicism
Katılım Kasım 2022
74 Takip Edilen29 Takipçiler
Andry Burnham’s proposed 50% tax rate for high earners is pure insanity. Someone on student loans earning just over £100k would face a marginal tax rate of about 70%, what is the point of trying to earn more.
Got government keeps 70p of every pound and I keep 30p 😂😂
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@sabitu01 @_Unknown_D_ Lots of people are making that choice but why should they? If everyone will work for a couple more pennies that includes you and you can come down from your little ivory tower and clean my house in your spare time for £1 an hour.
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@_Unknown_D_ Stop trying to earn more then. I dare you. None will stop no matter how big the taxes get. Everyone loves even the couple of pennis so stop pretending people will not move into management roles because of tax. Just stop
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@TypeForVictory @John_Stepek The most acutely increasing spending category is working age benefits up from £36b pre-pandemic to a predicted £60-70b by 2029/30. The others are of course important too, and we can add defence and SEND.
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@cicerorocks @John_Stepek The biggest driver of increased spending is the ageing population - state pensions, freebies, health and social care.
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cicerorocks retweetledi
Britain is one of the few countries where labour share of income has risen since the 90s. Inequality has fallen. Productivity has flatlined.
Our growth is just population rising - faster than housing or infrastructure capacity, which reduces living standards.
Andy Verity@andyverity
This is the picture in the US but it's very similar in the UK. Out of all the money we make - national income - a greater and greater share has been going, not to the employees who generate that income, but to the shareholders who do no work for it but simply purchase a stake.
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One of the worst things about the UK is perverse incentives.
Daniel Hannan@DanielJHannan
Show me the incentive and I’ll show you the outcome.
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cicerorocks retweetledi
New from me: Sadiq Khan's new London Plan draft is disgraceful.
There is a cross-party consensus that London needs to build far more homes, yet Khan's draft plans to miss the capital's annual housing target by 30,000 homes.
cityam.com/sadiq-khans-lo…
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cicerorocks retweetledi
It was obvious the Renters Rights Act and other burdensome regulations and taxes would lead to fewer properties for rent. Lo and behold…
Emma Fildes@emmafildes
Buy-to-let stock levels have diminished in response to increased costs and legislation causing rents to rise. The new PM Andy Burnham is reported to be considering rental caps. This option though seemingly well meaning could further take its toll on long term stock levels where they are most needed. As is, "the number of flatshares in inner London dropped by 5pc in the second quarter of 2026 compared with the same period last year, according to figures from website SpareRoom." @Telegraph telegraph.co.uk/money/property…
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@PFOInvestor You’re right but missing the political point. Renter lobbyists continue to present landlord profits and owner benefits as excessive by leaving out the maintenance costs. They just show interest.
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Then you aren't running the rent vs. mortgage comparison correctly. Maintenance should be in the calculation. Also, the idea that maintenance costs are not included in the rent is laughable. Investors who charge rent are not in the business of losing money.
Shehan@TheCryptoCPA
"Renting is throwing money away" hits different when you've just handed a roofer $18,000 on a Tuesday. Ownership has costs that never appear in the mortgage vs. rent comparison. Run the full numbers before picking a side.
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cicerorocks retweetledi
We used to laugh at the New Economics Foundation. We’re not laughing now.
Link below.
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cicerorocks retweetledi
wow you know what britain really needs to get over its economic slump
more regulations
IPPR@IPPR
🏚️ Renting in Britain is broken. But there’s a straightforward, low-cost solution. Well-designed rent controls would protect renters from increasingly unaffordable housing costs, without costing the government billions or undermining housing supply. 🔗 Read our report to find out more ippr.org/articles/housi…
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@JeffreyPeel @ph7litmus Is there a one day course he could do?
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This is the UK's new Business Secretary. He's never run a business. Nor even worked for one. He knows nothing about risk taking. Nor entrepreneurship. Nor meeting payroll. Nor remortgaging his house to provide working capital. Nor hiring staff. Nor skipping his salary so his employees can have theirs. Nope. He couldn't even manage to finish his training to become a solicitor. And now he's Secretary of State for Business for HM Government.
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@WillKingston It’s more important than our World Cup semi-final and we’re fielding the local pub team.
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There are 28 ministers in the new Cabinet. This is the sum total of their private sector experience:
- Louise Haigh: Three years in a middle management role at Aviva. Ended in a fraud conviction.
- Andy Burnham: Three years in a small publishing business after university.
That’s it… A team with no business, finance or management experience is running a £3 trillion economy. I’ll explain just how screwed we are on @PatrickChristys Tonight. 9pm @GBNEWS.
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@IvorGCampbell @WillKingston We’re talking about the entire cabinet here! Not one single member who has had a successful career outside politics, who has created a private sector job or has managed large scale organisational change. It’s like putting the pub team into bat in the Ashes.
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@WillKingston Thatcher, Churchill, Heath, Wilson, Atlee were all career politicians with no real business experience...
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cicerorocks retweetledi
I suspected Burnham's new cabinet had no private sector experience but it's starker than I thought ... Two - at a push three - of the cabinet members have done anything except be a council worker, charity or union employee or Labour staffer. Big government is about to get bigger.
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It’s actually a relief Andy became PM unopposed without a leadership election. Imagine the commitments he would have made in a leadership contest.
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@MikeWhi29270353 @DrEilidhMaria So why Louise Haigh and Angela Raynor?
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@DrEilidhMaria The only thing they ought to have to do, is chase down detail to ensure the things that ought to get done, are done - with accountability and without corruption.
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And so it starts. Same old, same old…A VAT cut for those who aren’t taxpayers, to be funded by those who are taxpayers; effectively end a bigger bill for the latter.
Darren Jones MP@darrenpjones
Good news that VAT will be cut on electricity bills. It’s a simple way for families to save a few quid, and to mechanically help to keep inflation that little bit lower. But the DigitalID program was unfunded. The government will have to set out how it will pay for its new policies at the budget.
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@afneil I’m not in favour of excess debt. But if you buy the assets (basically the infrastructure and income flow) at a distressed price it could be a good deal. We need an excellent negotiating team and then excellent management (therein lies the problem).
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But the French government was forced to take EDF’s multi-billion debts on to the national balance sheet, which helped force up national debt to almost 120% GDP which, in turn, gives French governments little scope for more public spending. Everything has a cost, even in the public sector.
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Media interviewing and PMQs don’t work. There should be a formal written question and answer procedure forcing the Government to explain its assumptions and reasoning. The media can then interview and criticise based on solid foundations. This would force intellectual rigour.
Daisy Jones@ph7litmus
How many times can Lucy Powell say “we’ve been clear” when asked a question, and then fail completely to answer it. “What do you think about x?” “We’ve been very clear about x. I am absolutely clear about that. It’s important to be clear” “I’ve always been clear”
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