--
John Larkin, President Highland Technology Inc
Precision electronic instrumentation Picosecond-resolution Digital Delay and Pulse generators Custom timing and laser controllers Photonics and fiberoptic TTL data links VME analog, thermocouple, LVDT, synchro, tachometer Multichannel arbitrary waveform generators
It isn't too surprising that people rearrange their affairs to minimise tax paid. The IOD predicted this would happen back in 2010. Most people earning more than £150k ($250k) pa have accountants and/or tax advisers.
Ironically the original plan of a 45% higher rate might have worked.
What is surprising is that the government itself has been employing senior people through their own limited companies to facilitate tax avoidance (aka disguised employment). A fact that only recently came to light in the case of the University Loans chief and then various others (fuse is still burning). It wouldn't be so bad if that organisation was well run but it isn't - every year there is a new mammoth c*ck-up.
It makes the governments claim that "we are all in it together" ring rather hollow. Some are most definitely more "in" than others. They have one law for their mates and another for the rest of us.
-- Regards, Martin Brown
Can't you read?
"However, another Treasury source added that the tax deadline had been extended by two days because of industrial action at HM Revenue and Customs. Therefore, it was too early to begin assessing the revenues raised from the 50p rate of tax because about 20 per cent of self- assessment tax is paid in the hours before the deadline."
So the Telegraph is making a fuss about a 5% decline in the tax coming in, when the dead-line extension probably means that some 20% more will come in hours before the new dead-line.
The Telegraph is written to appeal to right-wing nitwits, and you've been suckered by one of their non-news items, not for the first time.
As far as providing experimental evidence about the Laffer curve, this particular piece of evidence is more than usually misleading - but the Laffer Curve does seem to be one of those economic concepts that - even at the best of times - disintegrates into fatuous nonsense as soon as you look at it in detail.
-- Bill Sloman, Nijmegen
Huh? The deadline was extended from 31st January by 2 days. The article was in today's newspaper. If HMRC don't know how much money they took in 3 weeks ago they need shooting. They need shooting anyway.
Snip
Its sort of like a tuned circuit. As you approach the peak, the rage on both sides of the issue increase dramatically.
When all the fanatics are screaming at their loudest, you've got it set just about right.
-- Paul Hovnanian mailto:Paul@Hovnanian.com ------------------------------------------------------------------ Fast wine, loose cars, old women.
Assuming that the object of the exercise is to prevent people from keeping their own money. That's what oppressors naturally want.
Cheers
Phil Hobbs
-- Dr Philip C D Hobbs Principal Consultant ElectroOptical Innovations LLC Optics, Electro-optics, Photonics, Analog Electronics 160 North State Road #203 Briarcliff Manor NY 10510 845-480-2058 hobbs at electrooptical dot net http://electrooptical.net
More data:
James
Exactly right. When did it become a moral imperative that the government must maximize its take?
Within less than a year we will find out what damage it will cause if a tax increase ballot measure passes here in California. Sad thing is, we are already on the downslope of the Laffer curve :-(
-- Regards, Joerg http://www.analogconsultants.com/
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| James E.Thompson, CTO | mens |
| Analog Innovations, Inc. | et |
| Analog/Mixed-Signal ASIC's and Discrete Systems | manus |
| Phoenix, Arizona 85048 Skype: Contacts Only | |
| Voice:(480)460-2350 Fax: Available upon request | Brass Rat |
| E-mail Icon at http://www.analog-innovations.com | 1962 |
I love to cook with wine. Sometimes I even put it in the food.
As a country we have to watch that trend. Because it can rather quickly turn into what's called a "brain drain". Other countries have painfully experienced that.
-- Regards, Joerg http://www.analogconsultants.com/
Many people don't understand... they think we're the best place on earth... 't'ain't so... lots of other places have better "democracy" ratings, particularly when it comes to economics. ...Jim Thompson
--
| James E.Thompson, CTO | mens |
| Analog Innovations, Inc. | et |
| Analog/Mixed-Signal ASIC's and Discrete Systems | manus |
| Phoenix, Arizona 85048 Skype: Contacts Only | |
| Voice:(480)460-2350 Fax: Available upon request | Brass Rat |
| E-mail Icon at http://www.analog-innovations.com | 1962 |
I love to cook with wine. Sometimes I even put it in the food.
both
just
It costs money to keep society running. That's what taxes pay for.
You want life to be nasty, brutish and short? Go live someplace where you don't have to pay taxes and don't get any of the benefits that they buy.
You are welcome to discuss how the tax burden is spread across society, but if you want to live in an advanced industrial country you are going to have to pay out some of your income in taxes. You may want to characterise this as oppression, but since the situation is a little more complicated than that, you also characterise yourself as simple-minded when you do.
-- Bill Sloman, Nijmegen
499 have left the USA? Is this data, or just statistical noise? People move from country to country all the time, for all sorts of reasons. Once upon a time I paid tax in Australia, then in the UK and now in the Netherlands. Next year I'll be paying tax in Australia again. 499 isn't a large number in country with 311 million inhabitants - in fact it is absurdly small. 44% of the "more than" 500 UK millionaires surveyed were contemplating leaving the country. Preferred destinations were France, the USA, Spain and Australia, where the tax climate isn't all that different, but the weather is better.
This isn't "data" about the effect of higher taxes, it's just James Arthur producing irrelevant numbers as he does when he wants to pretend to be numerate.
-- Bill Sloman, Nijmegen
Right. The peak of the curve maximizes government revenue. The point of maximum social benefit is probably lower.
-- John Larkin, President Highland Technology, Inc jlarkin at highlandtechnology dot com http://www.highlandtechnology.com Precision electronic instrumentation Picosecond-resolution Digital Delay and Pulse generators Custom laser controllers Photonics and fiberoptic TTL data links VME thermocouple, LVDT, synchro acquisition and simulation
both
just
Bill, long ago in kindergarten, you were probably taught that nice people let others keep what's theirs.
Of course you've long forgotten all that simple-minded stuff that the rest of us call "common humanity".
Cheers
Phil Hobbs
-- Dr Philip C D Hobbs Principal Consultant ElectroOptical Innovations LLC Optics, Electro-optics, Photonics, Analog Electronics 160 North State Road #203 Briarcliff Manor NY 10510 845-480-2058 hobbs at electrooptical dot net http://electrooptical.net
The other problem is time constants: there's a short-term curve and a long-term curve. I suspect the long-term curve peaks lower than the fast one. If you increase rates, people have to pay up this year... until they adjust their lifestyles, or go out of business, or secondarily quit having babies, like in Japan.
-- John Larkin, President Highland Technology, Inc jlarkin at highlandtechnology dot com http://www.highlandtechnology.com Precision electronic instrumentation Picosecond-resolution Digital Delay and Pulse generators Custom laser controllers Photonics and fiberoptic TTL data links VME thermocouple, LVDT, synchro acquisition and simulation
Again, you are trying argue logic with liberals... DOESN'T WORK!! Are you insane? Get it through your thick skull that libs don't care about facts!!!
Even short-term you'll see it. I once exhibited classic Laffer curve behavior myself. Back in Europe where tax rates are highly progressive, sort of a hockeystick curve instead of stepped brackets. Anyhow, towards the end of a tax year some major remodeling needed to be done. Got quotes, around $20k of which $15k was labor and profit, almost froze. Looked at the biz books, oops, already in the high tax percentages. The obvious solution was chosen: Took a few weeks off and did it myself. Meaning I paid less tax because there was not much income in those weeks. At the same time a contractor that would have made $15k of taxable income didn't. Neither did his helpers. There's a snowball effect with the Laffer curve.
-- Regards, Joerg http://www.analogconsultants.com/
n both
t just
nt must
Right around the time they decided Catholics ought not be able to practice their faith.
(Catholics who are providing jobs, ironically enough, and who are therefore the ones providing that same "take.")
James
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