Posts Tagged ‘tax’

I’m no fan of the Royal Family but – Two Words

July 17, 2014

Saw a post today on Hang The Bankers Blog that, while i have no objection to what the guy is saying I think he is simply not seeing the bigger picture.

He writes:
Look at the photograph (of Phil The Greek). This picture will fill Millions of Brits with pride, nostalgia and patronism. Women, old and young will inevitably coo. Men, no doubt with a look of steely determination on their faces will give a quick nod at the photo and say to themselves; “Yes mate, you know”. I look at it and want to wring the hypocrites scrawny neck. The mere sight of him makes me want to puke.

You will not spot a single tear in this abomination’s eye. And for the Daily Mail newspaper and no doubt the vast majority of others to even suggest it, is tantamount to fraud. Worse still, it officially costs the tax payer nearly half a million pound a year to view propaganda like this. Unofficially, the true cost is in the millions.

You have no idea how hard I find it to write about The Duck of Edinburgh and his family of parasitic in-breeds without descending into a torrent of foul mouthed abuse. Continue reading:

Well yes, as I said I’m no fan but his argument can be totally demolished in two words …

President Thatcher

or alternatively

President Blair

If you know what I mean.

Soon You Will Be Able To Give All Your Money To The EU … or face the consequences

July 10, 2014

gold - portable property Easily concealed portable property (source Blogspot Commons)

I should have come as no surprise to learn the German government has approved plans to force creditors into propping up struggling banks across Europe.

Boggart Blog warned at the time of the Cyprus bail out bank snatch that Germany was behind the confiscation of ten percent of deposit balances from accounts held in Cyprus banks. We learned at the time from contacts in The City that Germany and the Euronazis of the Brussels Bureaucratiic Dictatorship saw the Cyprus exercise as a trial run for the time when, inevitably, the ridiculous single currency system dragged down the large, solvent economies of northern Europe to the economic basket case status of the PIIGS nations (I predict a cypRiot) and it became necessary to impose a similar levy or savings tax across the Eurozone.

That time is not here yet, not quite. but Germany has a reputation for forward planning so we can be sure they see a time when citizens of the Eurozone are required to compensate the German central bank for the money it spends propping up lazy and incompetent ruling elites in the Eurozone nations just like the citizens and residents of Cyprus were required to.

As WSJ reports, Germany’s cabinet Wednesday approved plans to force creditors into propping up struggling banks beginning in 2015, one year earlier than required under European-wide plans that set rules for failing financial institutions.

The new bail-in rules are part of a package of German legislation on the European banking union–an ambitious project to centralize bank supervision in the euro zone and, when banks fail, to organize their rescue or winding-up at a European level.

Germany “leads the way” in Europe by implementing European rules quickly and “creates instruments that allow the winding-down of big systemically relevant institutions without putting the financial stability at risk.”

What this means is that taxpayers (theoretically) will not be on the hook (though in reality we are sure the mutually assured destruction defense will be played – especially if Deutsche runs into problems) but as German authorities explain, “This ensures that in times of crisis mainly owners and creditors will contribute to solving the crisis, and not taxpayers.” As a gentle reminder – creditors includes depositors…

Unfortunately not everyone’s buying the no-taxpayer-impact concept (remember Cyprus?) We certainly aren’t. going to be a busy time converting cash into easily concealed portable property, preferably gold (hard, shiny gold, definitely not ‘gold funds’ or ‘gold derivatives’) as that looks like being the de facto reserve currency soon.

And those of you who were recently wailing and gnashing teeth about UKIP’s alleged racism, we’ll let the Eurorats know you are so keen on their totalitarian single European superstate agenda you want to donate 100% of your saving to the cause of global fascism.

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UKIP relationship with Europe

How Prostitutes And Drug Pushers Are Driving Economic Recovery

July 4, 2014

prostitutes boost gdp Entrepreneurs working to boost GDP (source)

Back in May Italy started a trend by announcing a plan to “boost” its GDP figures through the simple expedient of adding the estimated impact of cocaine and hookers.

(A note to the economically illiterate here, NB Ed Balls, Vince Cable, George Osborne and that bloke who looks like Scooter from the muppets – GDP is not a measure of how well an economy is doing but only of how much money is churning around in it. This is where post Keynesean economics fails, economists are so thick that can believe that by raising taxes to produce £300million revenue, importing a million immigrants and paying then £300 a wee in benefits actually grows the economy by £600million a week.)

Riding on the back of this pros, pimps and pushers economic gimmick to make the economy look better Britain, the – ahem – most successful economy in Europe at the moment – ahem – has decided to get in on the act. The Office for National Statistics will in future also include the “contribution” made by prostitutes, pimps and drug pushers to make its GDP look a little stronger. Really, I wasn’t aware prozzers and pushers had started registering with the Revenue and charging VAT. And as we are talking of Value Added Tax, in the case of commercial sex surely the value is added by the punter and not the vendor after all beauty is in the eye of the beholder.

According to The Guardian “for the first time official statisticians are measuring the value to the UK economy of sex work and drug dealing – and they have discovered these unsavoury hidden-economy trades make roughly the same contribution as farming – and only slightly less than book and newspaper publishers added together.”

How big of a “contribution” does ONS expect the good, old fashoned “vice” make to that Holy Grail of irrelevant economic statistics, the GDP then? I wan’te Here are some quotes from ONS documents:

Illegal drugs and prostitution boosted the economy by £9.7bn – equal to 0.7% of gross domestic product – in 2009, according to the ONS’s first official estimate. A breakdown of the data shows sex work generated £5.3bn for the economy that year, with another £4.4bn lift from a combination of cannabis, heroin, powder cocaine, crack cocaine, ecstasy and amphetamines.

Did you spot the problem? Since one can’t report on a tax return that the source of income is have paid sex or selling illegal drugs, the ONS has to to estimate the economic contribution by these illegal professions. This is how it has gone about doing it:

According to the estimates there were 60,879 prostitutes in the UK in 2009, who had an average of 25 clients per week – each paying on average £67.16 per visit.

Really, £67.16? Do prostitutes use per second billing like phone companies?

So complex are the billing methods of those who trade illegally (whatever happened to the cavalier approach to accounting displayed in “The Ling Good Friday” expressed in the line “Give ’em a grand for the inconvenience.”) an excel spreadsheet model has now been created to calculate the hypothetical GDP boost to the nation is. Making things even more surreal, and confirming the GDP calculation is officially a statistical joke, here is how drugs are accounted for:

The statisticians reckon there were 2.2 million cannabis users in the UK in 2009, toking their way through weed worth more than £1.2bn. They calculate that half of that was home-grown – costing £154m in heat, light and “raw materials” to produce

The models will need updating constantly, sex and drugs being about the only truly free market activity, cost and prices vary constantly according to supply and demand. The ONS says:

“Our agents will work in the coming months to bring the data more up to date. The figures will then be included in the broad category of household spending on “miscellaneous goods and services” alongside life insurance, personal care products and post office charges.”

It is unclear if the ONS will pay for its agents to conduct due diligence in various brothels, or alternatively conduct “inhouse” sessions at the headquarters. What is clear is that quite soon the largest marginal provider of “growth” not just in Britain but all of Europe will be illegal activities:

Alan Clarke, a UK economist at Scotiabank, said that although the government would not feel the benefit of illegal work in terms of income tax take, there would be a spending boost. “A drug dealer or prostitute won’t necessarily pay tax on that £10bn, but the government will get tax receipts when they spend their income on a pimped up car or bling phone.”

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Shock Labour Defector – To The Tories?

November 15, 2013

After asking a few days ago, in the wake of criticisms from John Major, David Blunkett and Jack Straw of the parties whose governments they served in, we asked who would be the next political elder to defect to UKIP.

The defection, when it came, was a shock. Ken Livingstone turned against Labour and the loonytoons economics advocated by shadow chancellor Mr. Bollocks and embraced Thatcherite monetaraism.

from The Daily Telegraph:
Ken Livingstone, the former Mayor of London, has accused the Labour party of “cowardice” for building up billions in debts rather than taking difficult decisions on tax cuts and spending.

In a speech to a campaigning group on Saturday Mr Livingstone accused Gordon Brown of borrowing too much in the boom years.

Mr Livingstone said: “Gordon Brown was borrowing £20 billion a year at the height of the boom in the first decade of this century in order to avoid having to increase taxes, because he wanted to increase public spending.”

The former Mayor described the racking up of debts as “an act of cowardice” on the part of the Labour party.

Mr Livingstone appealed to Ed Miliband, the Labour leader, not to borrow more. Referring to Mr Miliband and Ed Balls, the Shadow chancellor’s, plans for the economy, he said: “I don’t believe that borrowing is your way to the future.”

As Livingstone is going against Labour’s traditional policy of saddling future generations with unserviceable levels of debt inh order to buy working class votes by handing out cash benefits, we must assume Red Ken’s political career is over.

On the other hand it might just be that he’s the same old hypocrite he always was and will embrace anything he thinks might help him cling to a sliver of power a little longer. I mean, he’s already endorsed Sharia Law and you can’t get any more conservative than that

Illiberal Undemocratics

September 7, 2012

The Illiberal Undemocraticrty Pa, are poised to become as authoritarian as their neo Nazi chums in the Labour party. Following in the footsteps of the world’s most powerful liberal fascist Mayor Bloomberg of New York the Illib Undems are taking up the mantle of the anti-coke war in Britain. At the upcoming party conference, the party formerly known as the Lib Dems will argue for the need for a fizzy-drink tax, presumably on the predictable grounds that it will ‘combat obesity’ while raising tax revenue. But, in reality, this is an attempt to use taxation as a means to change people’s consumption habits by imposing a sin tax.

This type of fascism (we are imposing our will on you by force to save you from your own folly)which I have previously dubbed Populist Authoritarianism is not just typical of the Lib Dems and those other “progressives” in; it is quite popular with the conservatives too, and increasingly with politicians all around the free world too. All generally seem to agree that we need high taxes on alcohol and tobacco, not to mention plastic bags.

Traditionally, the soft socialism of centre-left political parties led to a desire to subsidise via taxation the goods that people consumed daily, making them cheaper and easier to purchase. The idea was that as the rich paid most tax and some of that revenue helped poorer people to enjoy a few indulgences the greatest good of the greatest number was achieved Now however, parties like the Lib Dems are more concerned with raising the prices of certain goods in order that people make politically correct lifestyle choices i.e. the choices of people who are members of the neo fascist Liberal Democrat party.

The hypocrisy of these smug scumsuckers is nauseating.

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