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TOPIC: Labour Promises Elitist Fabian Society to Raise Taxes

Labour Promises Elitist Fabian Society to Raise Taxes 25 Jan 2014 11:23 #1

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www.bbc.co.uk/news/uk-25894312
A Labour government would reintroduce the 50p top rate of income tax for those earning over £150,000, shadow chancellor Ed Balls has said.

He said a government analysis which showed it did not raise much was skewed by assumptions made by ministers.

The last Labour government raised the upper tax band from 40% to 50% in 2010 in response to the recession but the coalition has since cut it to 45%.

The pledge was made during a speech to the Fabian Society in central London.
The true measure of a man is not his intelligence or how high he rises in this freak establishment. The true measure of a man is this: how quickly he can respond to the needs of others and how much of himself he can give - Philip K. Dick.
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Labour Promises Elitist Fabian Society to Raise Taxes 25 Jan 2014 14:50 #2

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It isn't just what and how much one taxes, but whom and how you spend the revenue.

VAT is often seen as "fairer" than income tax (e.g. The Fair Tax) but since poorer folks are forced to spend a greater proportion of their income than the wealthy, it taxes the lowest earners a greater proportion of their income.

The richest earners (by which I mean the top 7% or so) have been increasingly allowed to retain their income and accumulated wealth and the lowest earners are , in real terms, have seen a drastic cut in disposable income. Plus tax revenue is now used to give corporations tax breaks or pay grants to some politicians rich friends' companies. Oh and wars for their interests too.

As for the Fabian Society: they are a shady bunch of fucks who go in for eugenics but that does not mean that the trend that the rich-get-richer does not need reversed. Elite Fabians or no.
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