New Debt Crisis

[truman]

"The IPPR Commission argues that we need to tax wealth more. Today the wealthiest 10% of households own more than 900 times the wealth of the poorest 10%, and 5 times more than the bottom half of all households combined."

The words of the Archbishop of Canterbury. He must be so jelous....

 

"The Church of England has written to the Chancellor to request an exemption for places of worship in the extension of VAT to alterations in listed buildings, claiming the Budget measure could cost the Church up to £20m per year. - " https://www.civilsociety.co.uk/news/church-of-england-faces--20m-annual-tax-bill-following-budget.html#sthash.NYRllOz6.dpuf

 

"Churches legally avoid large amounts of tax. They receive substantial donations from some of their richer members on death. These gifts are free of Inheritance Tax.

 

They receive substantial donations from their living members. Much of this money is gift aided, so the Churches receive large sums from the state as repayment of the Income Tax which the donors had paid before their gift.

 

The Churches, led by the Church of England, have tax free Endowment funds which generate income and capital gains that are untaxed. Some of this money is used for current spending. The Church Commissioners manage a fund worth around £5,500 million."

 

http://johnredwoodsdiary.com/2014/02/21/should-churches-pay-more-tax/

 

Not sure the Church is in a position to demand others pay more tax...

[Cyclone]

The church is quite clearly charitable in structure and aims, nobody makes a profit from it.

[Obelix]

"The IPPR Commission argues that we need to tax wealth more. Today the wealthiest 10% of households own more than 900 times the wealth of the poorest 10%, and 5 times more than the bottom half of all households combined."

The words of the Archbishop of Canterbury. He must be so jelous....

 

Rhetoric Anna, is not substance.

 

Are you going to address the hard evidence of the Gini coefficient?

[Anna B]

Rhetoric Anna, is not substance.

 

Are you going to address the hard evidence of the Gini coefficient?

 

No, because we've had the conversation before.

 

And better educated than me have said the Gini coefficient is not an accurate measure of anything.

 

As for 'rhetoric' there's a growing mass of people saying the same thing. I suggest you come out of your bubble, look around the real world. And listen.

Edited September 6, 2018 by Anna B

[lil-minx92]

No reason it should go up for more degrees. I'm not sure that you can get student loans for a second degree anyway.

 

---------- Post added 06-09-2018 at 13:51 ----------

 

 

Don't ask/let anyone pay for it themselves.

There's another good reason to not allow that, in that doing so means that the poorer are disadvantages in access to the education, in that if they access it then they will have the burden of paying a loan/tax for it, whereas those who are lucky enough to come from a privilege of wealthy background don't have that downside and so are more likely to access the higher education available.

 

---------- Post added 06-09-2018 at 13:52 ----------

 

 

No worse than the current system, you don't have to repay loans whilst working abroad.

You could also make the same argument about any taxation, isn't our PAYE taxation system just an incentive for people to move to Monaco or to work in Dubai?

 

---------- Post added 06-09-2018 at 13:54 ----------

 

 

We can already see the massive harm to our economy that it's doing though.

So pretending we "don't know" whether it will be harmful is naeve.

 

I guess it depends how you measure the performance of the economy. Today the FTSE All Share index is up about 20% since just before the referendum and reached an all time high in May this year having been on a general upward climb since the referendum.

[truman]

And better educated than me have said the Gini coefficient is not an accurate measure of anything.

 

 

Give us an alternative way of measuring it then...

[Anna B]

I guess it depends how you measure the performance of the economy. Today the FTSE All Share index is up about 20% since just before the referendum and reached an all time high in May this year having been on a general upward climb since the referendum.

 

The Index though isn't really an indication of how much is being passed on to the people who do all the work to earn it. It does however translate into higher bonuses and share dividends for those at the top.

 

The rich get richer...

[truman]

The Index though isn't really an indication of how much is being passed on to the people who do all the work to earn it. It does however translate into higher bonuses and share dividends for those at the top.

 

The rich get richer...

 

Are you saying those at the top have no input to a company's success?

[Cyclone]

I guess it depends how you measure the performance of the economy. Today the FTSE All Share index is up about 20% since just before the referendum and reached an all time high in May this year having been on a general upward climb since the referendum.

 

This isn't a good thing, it's a failure to understand why.

 

Why has the FTSE 100 performed better over the past year or so?

In a word, Brexit. The pound has fallen since the referendum and that means any overseas profits for a UK company are worth more when they are translated back into pounds. Around two-thirds of Footsie revenues and profits are earned overseas, so that’s a real boost.

 

The index is up because the pound is down.

 

On the other hand

Brexit is estimated to have wiped 2% off the UK's GDP even before the exit date

 

That's huge. Hugely damaging.

 

---------- Post added 06-09-2018 at 15:58 ----------

 

Give us an alternative way of measuring it then...

 

As always, google is your friend for self education.

 

https://netgreen-project.eu/blog/2014/06/18/inequality-where-palma-better-gini

 

and

 

There are some alternative measures. For instance, Generalized Entropy Indexes, Atkinson Index, Piesch index, Kakwani index. Each measure can exhibit differnt properties. So, for a detailed explanation, see, for example: Measuring Inequality - Frank A. Cowell

[truman]

This isn't a good thing, it's a failure to understand why.

 

 

 

The index is up because the pound is down.

 

On the other hand

 

 

That's huge. Hugely damaging.

 

---------- Post added 06-09-2018 at 15:58 ----------

 

 

As always, google is your friend for self education.

 

https://netgreen-project.eu/blog/2014/06/18/inequality-where-palma-better-gini

 

and

 

I've read about the Palma one....I as actually asking Anna if she knew of any..rather than her just knocking the Gini..I suppose the question is whether any of the other measures disagree with the general results of Gini..ie any show that we're less unequal...