Fcuk cobain!

6 defenders on the pitch by the end of the game. I’m so rattled this was self sabotage

Taking of Rice was criminal I just can’t believe how he’s shat the bed like that

Tuchel is a bottler. Huge huge bottler

I just don’t understand why we stopped playing.

Reece James thank you. Your sacrifice has been noted

Harry Kane has accused ITV and other World Cup broadcasters of trying to create division in the England squad as he dismissed the notion of a rift “When you are playing a game like that and to be asked a question five minutes after the final whistle, and he [Bellingham] didn’t really know what the manager has said, what do you want Jude to say? “It is easy to try and create this division – it seems like an English mentality, an English thing to do at these major tournaments." 🔗: telegraph.co.uk/football/2026/…

@CW_Watchdog @philipaball @sashayanshin How many pictures of kids do you have on your hard drive ?

@cobainbronson @philipaball @sashayanshin How much weed do you smoke?

Imagine you build a successful business in the UK. It makes £10 Million profit. First you pay 25% Corporation tax = £2.5 Million. Your net profit after tax is £7.5 Million. Average UK P/E ratio for public companies is ~15.4. Let’s use that as a proxy. This business is worth £7.5 Million x 15.4 = £115.5 Million. UK Government wants to tax you 2% wealth tax on your net worth above £10 Million per year. 2% x (115.5 - 10) Million = £2.11 Million. So you have to pay yourself a dividend of £3.48 Million which will pay 39.35% dividend tax to pay the wealth tax. Remaining Company profit = £4.02 Million. If you want to have that money, you have to pay dividend tax again. After the tax you have £2.44 Million. So the net effect is that if you make £10 Million, the UK Government will take 75.6% of it as tax. Almost half of this tax comes from the 2% wealth tax. It’s an extra 35% tax on profit in this example. Problem is dimwits who were “good at maths at school” and politicians don’t understand basic maths. This will mean absolutely nobody will take the risk to invest or start a business in the UK. What is the point? If you are lucky enough to succeed, you will get punished hard. Jobs will not be created. Investment will dry up immediately. Anyone starting a business who is young enough will move. The power of FAFO will lead to a collapse in living standards and a collapse in economic growth. This will destroy the UK economy and be the biggest own goal in a generation. Why are we blindly walking into a self-orchestrated financial disaster? But hey - it sounds good because an idiot YouTuber who has no clue said so. It has good vibes. Tax the millionaires! What is so bad about a 75.6% tax exactly?

@philipaball @CW_Watchdog @sashayanshin So we can agree the example is wrong

@cobainbronson @CW_Watchdog @sashayanshin He was using it as an example or did you miss that part of the original tweet. Go back and re read it.

@TheLege2 @sashayanshin Let’s go band 4 band rn

@cobainbronson @sashayanshin It doesn't matter what example you use, a wealth tax is a bad idea on so many levels. A wealth tax only ever appeals to the terminally envious (and the economically illiterate). That would be YOU mofo

@CW_Watchdog @sashayanshin @philipaball Please take a minute to research. Understand the original tweet used P/E ratio as the multiplier. P/E ratios are used for “listed” highly liquid company shares. You do not use P/E ratio if you have 1 shareholder. Hence why the logic is wrong.

@cobainbronson @sashayanshin @philipaball Nobody but you has even mentioned listed companies. We are talking about people investing in the UK or building a business from scratch here. This is about incentives, not shareholders.

@CW_Watchdog @sashayanshin @philipaball I said “Listed companies” so companies listed on the stock exchange. As those are the companies that would have a PE ratio

@cobainbronson @sashayanshin @philipaball About 40% of all UK businesses have a single shareholder. And there are 33,500 companies that make over £10m in revenues. We can assume there are over 13,000 businesses that make over £10m a year and have a single shareholder.

@DylanBantoft @sashayanshin I don’t understand. He said something that is factually wrong and I called it out. Whatever you think of the underlying opinion. The methodology is wrong 2+2 can’t be 5.

@cobainbronson @sashayanshin Not sure you're making the point you think you are.

@CW_Watchdog @sashayanshin @philipaball Again this is wrong. A company making 10M does not automatically mean the owners wealth is 10M. Which is why the valuation metric matters. In the above example he assumed 1 shareholder what listed company with a P/E ratio has 1 shareholder? None

@cobainbronson @sashayanshin @philipaball Still irrelevant whether you take EBIT. EBITDA or some other price to earnings ratio, The value of a company making £10m would be over the threshold for the wealth tax. Nobody would invest in the UK.

@CW_Watchdog @sashayanshin It’s a fair point and I don’t disagree. I’m just saying factually the example used in the original tweet is wrong and had to be called out.

@cobainbronson @sashayanshin Actually it reinforces the point as to why wealth taxes are notoriously tricky to implement, costly to administrate and bad at achieving their objectives. They just don’t work.

@JLXX1910 @philipaball @sashayanshin What are you even saying? What does breaking down the abbreviation do. Like what is your actual argument

@cobainbronson @philipaball @sashayanshin Might want to break down what the abbreviation of EBIT/DA… Unfortunately in this case, saying fancy finance terms did not work in your favour 🤣

@sashayanshin @philipaball The P/E ratio formulae is Price/Net Income. EBIT is not net income. It’s literally basic finance. EBIT is earnings BEFORE interest and taxes. So it’s a completely different multiple from the PE ratio.

@cobainbronson @philipaball How is a multiple on EBIT different to earnings? It’s literally Earnings before Interest and Tax. The clue is in the name.

@philipaball @sashayanshin What you’re talking about is called a maintainable earnings multiplier and it still uses EBIT or EBITDA as a proxy for profits. The point is the original tweet is fear mongering based on a structurally incorrect valuation methodology.

@cobainbronson @sashayanshin Matters not what you think it's what the district valuer comes up with. Generally it's 4X profits plus assets but considering the valuers are already 2 years behind on their workload the system will be a nightmare.

@sashayanshin But you wouldn’t normally value a smaller private company on net profit to begin with. You’d use some kind of earnings multiple. EBITDA, Adjusted EBIT or SDE. The questions you posed on the wealth tax makes sense but the math behind your example is structurally incorrect.

@cobainbronson You’re inadvertently supporting my point. How is “wealth” going to be measured? Who values the business and how? What is an acceptable P/E to use? At 10 P/E, this example still pays over 20%.

Sadio Mane has 2 AFCON titles. I will not allow history to be rewritten in my presence. I know what I saw.