Robbin’ Clegg

Seems the boy wonder has come up with yet another hair brained idea to dig the country out of the sh1t…

Clegg wants to soak the rich for the good of the country. The Deputy Prime Minister said that “people of very considerable personal wealth have got to make a bit of an extra contribution” towards what he describes as the “national effort”.

I am reminded of the famous remarks of Dennis Healey who said that “we should squeeze the rich until the pips squeak!”

I am not a great believer in graduated rates of taxation because as far as I can see if there is only one rate of tax, then if I earn 10 times as much as the next guy then I already pay ten times as much tax – so why should I subjected to a higher rate of tax and pay twenty times as much instead?

Chancellor George Osbourne is – as one would expect – opposed to Clegg’s suggestions. Well, as a wealthy Tory, I suppose you would expect him to be. But he has a point. The rich people of this country produce the businesses that employ the people who produce the wealth. That’s fair and as it should be. Tax them disproportionately and unfairly and they will simply move abroad. That way nobody wins.

Where the politicians are getting it wrong is by ignoring the very rich who pay accountants to set them up schemes to avoid tax. Tax avoidance is legal and is a supposed pet hate of George Osbourne. He bangs on about it all the time – but it seems to me that he only gives it lip service and never actually gets round to doing anything about it!

It’s time that politicians of all colours stopped trying to grab headlines and soundbites and started to get real about collecting the taxes that should be paid. And it’s also about time that the super rich stopped playing silly buggers and paid their fair share. After all, if you were seen to be paying your dues, then you would cease to be an easy target.

Naturally, I exclude bankers and their bonuses from this analysis, because they really greedy bastards and deserve to be screwed…

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5 responses to “Robbin’ Clegg

  1. Give everybody a tax free limit of 10,000 and then set a global tax of 10% for everything, income tax, business tax, corporation tax, capital gains tax with absolutly no exceptionsNo money spent avoiding it and everybody pays a shareFlat tax countries have higher levels of economic growth according to the Tax Payers AllianceBut of course too many vested interests for it ever to happen

  2. Even those who have enough money to avoid tax have paid far more than thier 'fair share'. What the government really needs to do is spend less of it, not look for ways to collect more of it.

  3. It's broken beyond repair. What is required is tiny government where local governance takes precedence over national on everything except defence of the country from a real foe not 'potential foes' and 'terrorists'.Then tax can be set at a level which means there is no spare for politicians to piss up the wall and people will see no gain in evading it.True huge numbers of people will be thrown out of employment by such a reduction in government and simplification of tax but then assuming they are capable they will get real jobs or set up their own businesses.One final thing ANYONE and I do mean anyone who works in for or on behalf of government cannot vote whilst they are beholden to the government.

  4. Mick Anderson

    I suggest a small pilot scheme is used to see how well taxing the rich would work.Apply a 99% income and wealth tax to the rich b*****ds that sit on green and red leather benches in the Palace of Westminister, and all of their families.Once that money has been shown to be fully and honestly paid to HMRC they can consider applying their stupid ideas elsewhere. Shortly after Hell freezes over.

  5. when I were a lad, i remember my father paying tax under a labour government. the top slice rate was 90% and there was a lovely little think on top called an investment income surcharge of 15%this meant that the top slice rate on your investment income was 105%. Brilliant. For every £1 you receive, you give £1.05 to the government. No wonder so many people buggered off to america!