December 6th, 2012

Haven’t the Rich Suffered Enough?


65 Comments

  1. 1
    M'lud says:

    Equivalised?

    Like

    • 6
      Anonymous says:

      Rich will suffer but the supper rich will be better off as they will get 5% tax deduction.

      All so debt would have gone up by another £15bn this year if Osborne hasn’t taken account of £3.5bn from sale of 4G (which hasn’t happened yet) or £11.5bn on interest he got from BOE for BOE buying government bonds. If Osborne treat money printed by BOE to buy UK bond, then the debt will fall by £350bn as well.

      Issue is UK cannot afford to go on as it is going. Only question is when UK will lose its AAA status.

      Like

      • 10
        Head Auditor says:

        Posting money you have not yet received effectively as cash in the Bank is dodgy accounting particularly when you start straddling two financial years .

        Like

        • 21
          Anonymous says:

          When £15bn is added back to debt as it should be, government deficit in 2012/13 is almost the same as 2009/10.

          Another issue is OBR and BOE always overestimated growth and underestimated government deficit. So when we the year ends it will be worse than what they have estimated now.

          Like

        • 24
          Anonymous says:

          I don’t think the rich know what “suffering” is. In any case, a large number of these “rich” are troughers who got their money from us. In any case, they avoid tax.

          Like

          • Anonymous says:

            Not all the rich or even not all the super rich. Main issue is the law it lets it happen, it was mainly put in place by Mrs T and it wasn’t changed under 13 years of New Labour government.

            I don’t expect it to be changed by Cameron or Osborne as well, as they them selves benefits from offshore trust set up by their parents.

            Like

      • 17
        Anonymous says:

        I don’t understand why UK need to keep families that never worked in expensive places like Westminster. Even after these changes loads of families that never worked will still live in council and housing association properties Westminster, Kensington, Chelsea, etc.

        All tenants living in council and housing association properties in the top 10% of the expensive areas should be moved out and these properties should be sold in the open market.

        Like

        • 19
          Anonymous says:

          Other issue with Osborne’s changes to housing benefits is, net effect will be nil or -ve. As homeless has to be moved into expensive bed and breakfast and rehoused again.

          Like

        • 28
          Living in 98 percent white Merseyside says:

          Gentrify Tower Hamlets. It’s right on the doorstep of The City.

          Like

          • Toffs: The Demonisation of the Middle Class says:

            “Gentrify Tower Hamlets.”
            and move the existing welfare dependent residents to Hampstead, Clapham or Tuscany perhaps?

            I’m sure Polly Toynbee would be overjoyed to have more shoulder to shoulder contact to the poor people she champions so tirelessly.

            Like

        • 32

          They tried shifting people on benefits out of London, didn’t they? It didn’t go down too well…

          I agree with an earlier post that the rich aren’t really ‘suffering’, but then, they don’t *need* to suffer, unless they’re feeling particularly altruistic. They could do what other rich people have done, but the left-leaning still seem to think is a hollow threat, and leave the country. Instead, they get seen as soft touch for a bailout when politicians can’t make the figures add up. I know not all the rich make their stash on the sweat of their brows, but those that do must wonder why they should stick around. I wonder how many property owners don’t…

          Like

    • 8
      Anonymous says:

      What is surprising is top 10% getting “Tax Credits and Benefits” being -ve. Working 10% are going to lose child benefits as well, without that they will not get any Tax Credits and Benefits.

      Like

      • 13
        Spartacus says:

        er, further confiscation of wealth?

        .. that is what has not yet been inflation decreased to next to nothing.

        I have gone to a two week month. Reduction is not that significant.

        Like

    • 60
      Anonymous says:

      He choses the chart that suits his purpose the next chart which shows the effect as a % of income is much miore informative. Chart 1shows without doubt the bottom 30% lose the most:

      http://www.hm-treasury.gov.uk/d/as2012_distributional_analysis_impact_on_households%281%29.pdf

      Like

  2. 2
    Kiss Goodbye To The Next Election says:

    Everyone with a brain cell knows they are finished after yesterday.

    Even Labours best attempts to not win the next election by keeping Useless Ed will fail as people clamour over themselves to vote them back in.

    Like

    • 47
      Who Want's Some! says:

      Good! We need the current leaders of both main parties and the generation of clowns that hang around them to be totally discredited. This means Cameron poked up the arse by UKIP into losing and the Red Soon to be Dead Ed fucking up within 12 months of getting into no. 10. The Tory party will finish off Dave and then the battle to win it for real Conservative values of low tax, small government and the power of Parliament to rule as it sees fit begins! Very painful and not what we wanted but the current politcal class has lost the plot, this is a long war and seeing Ed bury the Labour party forever is worth it!

      Like

  3. 3
    Paddy Briggs says:

    “Middle earners” or “Rich” – make your mind up.

    Like

    • 12
      restore the monasteries says:

      Balls breakdown, a symptom of realising that he was ,in part, responsible for
      the dire state of the finances of Britain.A lot of “short circuiting” in whats left of
      his cerebral functions,and a form of punishment,for past errors,yet to be fully admitted.

      May his God have mercy on his soul.(but not too much)

      Like

      • 27
        bergen says:

        God help us all if the deranged clown is Chancellor in a couple of years..

        Like

        • 38
          Haribo Halfwit says:

          君達の基地は、全てCATSがいただいた。

          Like

        • 49

          David Milliband, Chuckus Ya Money and Rache Reeves look increasingly like a shoo in – funded, like New labour, by Accenture and Goldman Sachs. In other words we will continue to be ruined by Oxford PPE graduates creating a wrold save for those super rich who can afford socialist trappings.

          Like

        • 50
          Who Want's Some! says:

          Be like going to the dentist to fix that root canal, it will hurt and it will cost you, but at the end of it worth it. Labour in power in 2015 will be revealed as utterly without a clue, plus they are likely to win (if at all) by a very slim majority or more likely a LibFib coalition, it won’t last. You’ll be rid of the f_ckers forever.

          Like

          • Gert's niece says:

            I had a root canal last month and didn’t feel a thing except for a slight pain when the anaesthetic needle went in. However, yes, it certainly did cost me – but then I went private to get it done before 2015.

            Like

  4. 4
    genghiz the kahn says:

    If it takes more cash from Blair, Miliband, Balls, Brown, Peston, Marr, Toynbee and other parasites then Osborne has achieved something for a change.

    Like

    • 15
      Dolly the sheep says:

      If Gordon Osborne thinks he can “Squeeze Me” he is dafter than he looks .

      Between now and 2016 I am doing some foreign travel .

      Like

  5. 5
    The Sleeper says:

    Balls has spoken on behalf of the people of Britain….

    “After two and a half years we can see, and people can feel in the country, the true scale of this government’s economic failure,” he told MP’s.

    Fuckin’ moron…it was your criminal economic catastrophe that fuckin’ caused this mess…

    ….but the great unwashed will sagely nod their heads when they hear his words,and reaffirm their total belief in Labour…..idiots!

    Like

  6. 7
    Ed Balls(Chancellor Of The Exchequer Designate) says:

    Say someone earns £50k … how much of their earnings do you think they pay in tax,under this Conservative led coalition? a) 40% b) 30% c) 19.8%

    Like

  7. 11
    Dave"The One Term Prime Minister" Cameron says:

    Starbucks has hired Finsbury for PR advice on their tax avoidance. Here’s the advice of everyone else for nothing: Pay it.

    Like

    • 18
      Glaxo Smith Kline says:

      Rather than pointing the finger at Starbucks as the type of Company which could lead us to economic redemption just take a closer look at it .

      It is brash and specialises in selling an overpriced basic product which it markets as some kind of “must have” .

      Like

      • 20
        Gert's niece says:

        Like electricity, you mean?

        Like

      • 39
        Bud Abbott says:

        Who are you to tell people they shouldn’t have Starbucks coffee? Do you know how many people you’re gonna put out of work if everybody thought like you and stopped buying Starbucks coffee?

        Like

  8. 14
    Kent Constable says:

    Its time for the Tories to man up. Get rid of CMD, and install a true Conservative.

    And then put it to the damn socialist thieves and Libdem retards!

    People need to start voting this nest of vipers and whores out of Westminster.

    UKIP, you know you want to, and you know you need to!

    Like

    • 51
      Who Want's Some! says:

      See my comments above, the Tory Party needs to be defeated in 2015 and Labour to f_ck up within 12 months (which it will). If Scotland goes UDI even better as that ends the Labour party as a force in Parliament and removes a whole tranche of Socialist Barm Pots in one go. The Tory party will then have to be won for real Conserviatve values and policies. All UKIP members and indeed the party should should be wound up and join the Tory party at this point. It will be the last chance to win a Party for Conservative values for the next 30 years or more.

      Like

  9. 22
    James Bong says:

    I Tipron

    Like

  10. 23
    Living in 98 percent white Merseyside says:

    I’m OK. I had my £10 Xmas bonus this week.

    Like

  11. 25
    Stating the bleeding obvious says:

    Right wing political blogger,Guido Fawkes was critical of measures announced in the Autumn Statement, saying the country was “going to be stuck in a permanent recession until the chancellor cuts spending”.

    “He hasn’t cut public spending at all. In fact, it’s either flat-lining or slightly moving up. He’s borrowing a further hundred billion pounds a year. Every pound that he spends, 18 pence goes to service the debt. So until he makes some very serious attempts to cut public spending we’re going to be locked in this recession for some time”.

    Like

  12. 26
    Political Charities says:

    Pissed off with the emotional commercials that are more like feature films from the likes of the NSPCC and Banardos. They want your money but if you vote UKIP they consider you unfit to bring up children.

    Like

    • 43
      Gove aka Pob says:

      Typical ukip

      Playing the victim card all the time, neither of those charities have said anything about you sorry bunch of swivel eyed vote splitters

      Man up and stop whining about being persecuted, it’s boring us all to tears

      Like

  13. 31
    Normality not Austerity says:

    As I walk the highways and byways I do not see austerity.

    As I walk the highways and byways I see a rich country that is returning back to normality from the excesses of the Brown age.

    Like

    • 36
      Loopy Lou says:

      Have you been to Hull recently ?

      Like

    • 46
      lobby dosser says:

      errr, a ‘rich’ country entirely built on debt.
      Every £1 of growth we had in the last 15 years was funded by £2:50 over borrowing.
      Wake up, we are a third world country. The only reason they don’t shaft the banks is because jonny foreigner is still dumb enough to put money into this country.

      Like

  14. 33
    Steve Miliband says:

    Life is just one big fucking Ponzi scheme. The Beast gets our money one way or the other so take less, let us enjoy ourselves – eventually they’ll get it through VAT, fuel duty, air duty, stamp duty, booze duty or capital gains. More money to spend = more money to tax.

    Like

  15. 34
    Sheikh Bashar Banka says:

    If all goes well by 2016 GDP will be at the same level as 2002.

    Thank Christ for QE and Mervyn King!

    Like

  16. 35
    Abdel from Tooting says:

    Isn’t this like one of those silly card games in which you bet more of your cash to win back what you have already lost ?

    I never play cards myself .

    Like

  17. 37
    Sheikh Bashar Banka says:

    If interest rates are increased ,on his best case scenario , Osborne is screwed .

    His own figures, because of the increased borrowing costs, will be blown out of the water .

    Like

  18. 40
    Tony Eden from Eton says:

    I think it would be an excellent idea if the OBR publish weekly their cash flow projections against receipts .

    These documents should be signed by both the OBR’s Head Beancounter and the Chancellor.

    All in the interest of transparency of course.

    Like

  19. 42
    The Boy Plunger says:

    The Ftse hardly budged yesterday afternoon and is up this morning .

    Still fancy a short.

    Like

  20. 44
    Gove aka Pob says:

    Guido being his usual Uriah heep self in pandering to the rich, whilst imagining he lives in their world, when the reality is he lives off his wife’s earnings.

    Bit sad really.

    Like

  21. 45
    Cato Street Conspirator says:

    ‘Haven’t the Rich Suffered Enough?’

    I think so. I’m getting tired of stepping over them as they sleep in the street in cardboard boxes in a vain effort to keep the cold out. And if one more of them tries to sell me a copy of the Big Issue I’l go spare, so help me. Why does the Chancellor insist on punishing the rich in this way?

    Like

  22. 48
    m wood says:

    Osbourne did well but why didn’t he ask Ed Balls why he wants to tax ‘millionaires’ far higher when it means less tax going to the exchequer. Is it just the ‘Politics of Envy’?

    Like

  23. 58
    Sealate says:

    Don’t feel sorry for those ‘dragged’ into the 40% bracket. They now get higher tax relief on their pension contributions.

    Like

  24. 59
    Godpig says:

    These wastrels will leave office with Britain in more debt than they inherited.

    Like

  25. 62
    Head Auditor says:

    No one seems to have picked up on the point that anyone in a final salary pension paying more than 25k a year will be in breach of the pension capitial limits and therefore liable to tax penalties .

    Like

  26. 63
    Obvious Enough says:

    “Haven’t the Rich Suffered Enough?”

    The rich are not suffering at all and taking the tax changes as a % of income they are not much worse off than the average household.

    Like

  27. 64
    FlipC says:

    No direct link to the source for your graph – tut tut.

    Then again providing such might have allowed people to see the next chart 1.D which, as @63 Obvious Enough points out, shows the percentage change in net expenditure rather than the absolute. The top decile loses around 1.75% compared to the bottom decile losing 1.25%

    But I suppose that wouldn’t have been as visually striking.

    http://www.hm-treasury.gov.uk/d/as2012_distributional_analysis_impact_on_households(1).pdf

    Like

  28. 65
    Anonymous says:

    looks like a perfect curve at the top end?

    Like


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