The Politics Thread

[Bruce Rioja]

Is it really that outrageous for parents to pass on the fruits of their success to their kids? I hope I can do it one day, put it that way.

"The trouble with Michael is that he had to buy all his own furniture".

[TANGODANCER]

As for Osborne - his dad has given him a big gift of the family business during his lifetime. Is it really that outrageous for parents to pass on the fruits of their success to their kids? I hope I can do it one day, put it that way.

Guess Ralph McTell's Streets of London isn't on your favourite songs list then?

[Prufrock]

The economy is an abstract concept?



This country currently pays £120million a day in interest on its debt. That's not abstract is it?


As for Osborne - his dad has given him a big gift of the family business during his lifetime. Is it really that outrageous for parents to pass on the fruits of their success to their kids? I hope I can do it one day, put it that way.

What does that mean though. Those figures mean nothing to your factory worker, even your middle managment guy, Who pays £120 million? To whom? As a nation, a people, we've elected a group to take the feck up that was the end of New Labour, and 'save the economy'. That's the, very questionably, genourously named, mandate with which they have to govern. Save the economy. Which means jobs, services, and benefits. All of which have gone. It isn't party political, they're all a bunch of shithouses. We're all in this together, until it costs the rich a penny. Then they're emigrating.

As you say, as for George Osbourne... There is a reason for inheritance tax. Families take advantage of our welfare state, our health care system, rich and poor, as we all do and should do. When one dies, a percentage goes back to the state towards that cost. George Osbourne stood on a public platform, as chancellor of our own exchequer, and claimed we are all in it together. His familly are worth £4.5million. His trust fund saves him £1.6million on inheritance tax. Is it outrageous for parents to pass on the fruits of their success? No. Is it outrageous for the chancellor, whilst delivering massive cuts, to perform legal tax evasion? Feck no.

Let's not sugar the pill, it's legal tax evasion. From a chancellor. During massive 'cuts'. Silent 'n'.

[mummywhycantieatcrayons]

The economy is an abstract concept?



This country currently pays £120million a day in interest on its debt. That's not abstract is it?


As for Osborne - his dad has given him a big gift of the family business during his lifetime. Is it really that outrageous for parents to pass on the fruits of their success to their kids? I hope I can do it one day, put it that way.

What does that mean though. Those figures mean nothing to your factory worker, even your middle managment guy, Who pays £120 million? To whom? As a nation, a people, we've elected a group to take the feck up that was the end of New Labour, and 'save the economy'. That's the, very questionably, genourously named, mandate with which they have to govern. Save the economy. Which means jobs, services, and benefits. All of which have gone. It isn't party political, they're all a bunch of shithouses. We're all in this together, until it costs the rich a penny. Then they're emigrating.

As you say, as for George Osbourne... There is a reason for inheritance tax. Families take advantage of our welfare state, our health care system, rich and poor, as we all do and should do. When one dies, a percentage goes back to the state towards that cost. George Osbourne stood on a public platform, as chancellor of our own exchequer, and claimed we are all in it together. His familly are worth £4.5million. His trust fund saves him £1.6million on inheritance tax. Is it outrageous for parents to pass on the fruits of their success? No. Is it outrageous for the chancellor, whilst delivering massive cuts, to perform legal tax evasion? Feck no.

Let's not sugar the pill, it's legal tax evasion. From a chancellor. During massive 'cuts'. Silent 'n'.

Can every gift a parent gives their child during their lifetime (and seven years before they die) be called 'legal tax evasion'? If a rich person chose not to spend their all their wealth and pay the associated VAT, would you call that 'legal tax evasion' too, or regard it as a legitimate choice?

As for what those figures mean... presumably you know that the Treasury can borrow by selling its debt to anyone, be it a private individual or a government - it's not that difficult to get your head around the idea that the Treasury pays interest on this debt to those people/institutions too.

[CAPSLOCK]

Pru obviously feels so strongly about tax avoidance. he'll be stumping up mummy n daddys share for what they spent on his education

[Lord Kangana]

I didn't realise education was a tax deductable expense.

You learn something new every day.

[CAPSLOCK]

So, you don't reckon by spending on a private education they avoided tax

Aye, alreet

[Lord Kangana]

As I said, I didn't realise it was a tax deductable expense. I'll accept my ignorance if you can explain how you can write off education of your child to tax.

[Hoboh]

As for Osborne - his dad has given him a big gift of the family business during his lifetime. Is it really that outrageous for parents to pass on the fruits of their success to their kids? I hope I can do it one day, put it that way.

Guess Ralph McTell's Streets of London isn't on your favourite songs list then?

Target practise for the hoodie hunt tango

[thebish]

I see Georgie Osborne is scurrying from radio station to TV station and back again to eagerly claim credit for the UK economy growth figures for July-September despite the fact that they didn't really pull any of the economic levers until this month when they announced the spending review... in one interview he got so excited he appeared to be claiming credit for the previous quarter too...

everyone who knows anuthing at all about economics knows that growth figures lag policy announcements and implementation.....

[thebish]

and another thing...

In last Wednesday’s speech the Chancellor claimed that welfare fraud is responsible for cheating tax payers out of £5 billion a year. However, a Department of Work and Pensions report published last week stated that welfare fraud accounts for £1 billion of money lost, with tax credit fraud accounting for an additional £0.6 billion, leading to £1.6 billion lost in total.


so - why exaggerate welfare fraud so massively? hmmmmm....

[a1]

and another thing...

In last Wednesday’s speech the Chancellor claimed that welfare fraud is responsible for cheating tax payers out of £5 billion a year. However, a Department of Work and Pensions report published last week stated that welfare fraud accounts for £1 billion of money lost, with tax credit fraud accounting for an additional £0.6 billion, leading to £1.6 billion lost in total.

so - why exaggerate welfare fraud so massively? hmmmmm....

he's doing an impression of gordon ?

[jimbo]

I see Georgie Osborne is scurrying from radio station to TV station and back again to eagerly claim credit for the UK economy growth figures for July-September despite the fact that they didn't really pull any of the economic levers until this month when they announced the spending review... in one interview he got so excited he appeared to be claiming credit for the previous quarter too...

everyone who knows anuthing at all about economics knows that growth figures lag policy announcements and implementation.....

Ahhhhhhh, the classic discussion point about macroeconomic policy in A Level economics! All just come flooding back in that one line.

[William the White]

As I said, I didn't realise it was a tax deductable expense. I'll accept my ignorance if you can explain how you can write off education of your child to tax.

I don't think it is. But may be wrong.

Private schools themselves gain tax advantages by (very dubiously) getting registered as charities. A tax loophole that should definitely be closed.

[thebish]

I see Georgie Osborne is scurrying from radio station to TV station and back again to eagerly claim credit for the UK economy growth figures for July-September despite the fact that they didn't really pull any of the economic levers until this month when they announced the spending review... in one interview he got so excited he appeared to be claiming credit for the previous quarter too...

everyone who knows anuthing at all about economics knows that growth figures lag policy announcements and implementation.....

Ahhhhhhh, the classic discussion point about macroeconomic policy in A Level economics! All just come flooding back in that one line.

I think Georgie missed that class - in fact - he missed all classes on economics altogether and wrote PMQ "jokes" for little willy hague instead...

[thebish]

Furthermore...

when the libdems are asked about how they have tempered the rabid tories - they point to the "Pupil Premium"

David Cameron pledged in June that the pupil premium would be funded by money from other government departments. He told the Commons: "We will take money from outside the education budget to ensure that the pupil premium is well funded."

However, it now turns out that this is not true - and that a big wodge of it will come from the general schools budget - not new money at all - money taken from other schools...

the tories are laughing in the libdem faces....

[jimbo]

I see Georgie Osborne is scurrying from radio station to TV station and back again to eagerly claim credit for the UK economy growth figures for July-September despite the fact that they didn't really pull any of the economic levers until this month when they announced the spending review... in one interview he got so excited he appeared to be claiming credit for the previous quarter too...

everyone who knows anuthing at all about economics knows that growth figures lag policy announcements and implementation.....

Ahhhhhhh, the classic discussion point about macroeconomic policy in A Level economics! All just come flooding back in that one line.

I think Georgie missed that class - in fact - he missed all classes on economics altogether and wrote PMQ "jokes" for little willy hague instead...

He's just lucky Johnson hasn't got up to that chapter yet in his text book otherwise he'd have jumped right on it.

[Bruce Rioja]

I see Georgie Osborne is scurrying from radio station to TV station and back again to eagerly claim credit for the UK economy growth figures for July-September despite the fact that they didn't really pull any of the economic levers until this month when they announced the spending review... in one interview he got so excited he appeared to be claiming credit for the previous quarter too...

everyone who knows anuthing at all about economics knows that growth figures lag policy announcements and implementation.....

Not so sure that you'd be applying the same rationale had the figure been negative for Q3 though, eh Bish?

[William the White]

I see Georgie Osborne is scurrying from radio station to TV station and back again to eagerly claim credit for the UK economy growth figures for July-September despite the fact that they didn't really pull any of the economic levers until this month when they announced the spending review... in one interview he got so excited he appeared to be claiming credit for the previous quarter too...

everyone who knows anuthing at all about economics knows that growth figures lag policy announcements and implementation.....

Ahhhhhhh, the classic discussion point about macroeconomic policy in A Level economics! All just come flooding back in that one line.

I think Georgie missed that class - in fact - he missed all classes on economics altogether and wrote PMQ "jokes" for little willy hague instead...

He's just lucky Johnson hasn't got up to that chapter yet in his text book otherwise he'd have jumped right on it.

True - but thebish has and he's right.

The appointment of Johnson shows E Miliband as a cautious and conservative leader right from the start... Prefers a lack of expertise to dynamism and political challenge... Sad...

[William the White]

I see Georgie Osborne is scurrying from radio station to TV station and back again to eagerly claim credit for the UK economy growth figures for July-September despite the fact that they didn't really pull any of the economic levers until this month when they announced the spending review... in one interview he got so excited he appeared to be claiming credit for the previous quarter too...

everyone who knows anuthing at all about economics knows that growth figures lag policy announcements and implementation.....

Not so sure that you'd be applying the same rationale had the figure been negative for Q3 though, eh Bish?

I think thebish is more honest than Georgie boy myself... He'd have kept quiet...

Me too...