2024 Election thread
Comments
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Well it is, but the electorate includes the over 35s so don’t expect the result to be remotely close to that poll.
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
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Conservatives on 5% among gen z voters. Labour 76% (deltapoll).
There is not a generation that has Conservatives ahead. Boomers are 30% lab, 30% con.
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An incorrect reminder. There are practical examples.
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
Not sure what the recent NI cuts were then.
So do you want taxes to be high?
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
Well, that's me convinced.
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Example 1. In the 1970's the top rate of income tax was 83% (with a 15% surcharge for investment income) and around 50% of corporate tax. Any yet the Labour chancellor Dennis Healey had to go cap in hand to the IMF for a bail out. Surely all the lovely leftie high tax would have paid for everything?
Example 2. As a parting 'gift' in 2010, the outgoing Labour govt raised the top rate of income tax from 40$ to 50%. Admittedly this was an act of spite by Labour but you would expect it would raise a lot of funds. It didn't - by HMRC's own admission the impact was minimal in impact on the tax take.
Got any evidence that its just a theory? Let's hear it.
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
In your second example, revenue reduced following the rate reduction. The exact opposite of what should have happened if 50% was past the peak of the Laffer curve. If anything that is evidence that the rate should be 50% to maximise revenue.
In your first, a single point on the graph proves nothing. The tax rate was not the only input in that or any other economy.
An example would be a broadly stable economy with at least three data points relating tax rate and revenue: an input (rate change) and evidence of an output (increased revenue).
1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
The diminishing returns on personal taxation is fairly well known. What's that for to do with economic growth?
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Anyone else surprised that there isn't more support outside of the 2 main Parties among younger voters? In particular I'm surprised the Greens don't appeal to them more.
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If they were actually a rational environment focused party, they could do really well.
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True. I may be being unfair but I think of the youngest voters generally being idealistic and not necessarily considering the impact of wider policies.
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Labour have pretty healthy leads in every group aside from those 65+
Also the 30 to 35 year olds are likely to be the group that became politically aware during the labour government. I don't think it's quite accurate to say they won't remember Labour.
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I'll grant you 35 year olds but 30 year olds were only 16 when Cameron was elected. Pushing it a bit.
Maybe it's a case of diminishing returns the more Labour leaderships experienced.
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
Did it? Got some figures for that?
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
Short term: more money in 'peoples pockets' - more spent - stimulates the economy. Longer term: better rewards for economic activity - more activity and investment. That's the general jist - pretty well known.
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
That's not answering the question. If at the upper end you hit the buffers, I can understand why increasing tax further is pointless. But that's not the same as saying that lowering it increases growth.
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I think the cost of the cut was estimated at £100m by the OBR. 10% tax cut = small (0.1%) reduction in revenue. If Laffer was right that would mean the optimum rate was slightly higher than 50%. Obviously such small changes in revenue are dwarfed by general economic performance.
1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
Despite current taxes being high for the UK, they are below many of our peers. If this theory were reliable there would be pretty obvious evidence that lower tax economies reliably did better but there doesn't seem to be much of a correlation.
1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
Afaik Investment levels are the best indicator for future productivity growth, not the tax level.
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I feel like the line of best fit through that data probably suggests that high tax economies do better?
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I applaud the Tory Party here.
The country is telling them to prioritise fixing shit over tax cuts, and the last PM who prioritised tax cuts is generally thought a basket case, but they're pressing on with promises of tax cuts.
Stick to what the GB News feedback loop is telling you. It'll be grand
“New York has the haircuts, London has the trousers, but Belfast has the reason!0 -
Meh fixing stuff takes time. Tax cuts offer instant gratification.
Will the sweet taste of tax cuts will cover up the sour taste of the recent high inflation... I suspect not.
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Inflation down, minimum wages go up quite substantially in April
There's a moment here that the Tories could capitalise on....
“New York has the haircuts, London has the trousers, but Belfast has the reason!0 -
Not fixing things now seems a British disease
The crumbling Houses of Parliament are one big metaphor.
“New York has the haircuts, London has the trousers, but Belfast has the reason!0 -
Nah, I’m sure Sudan is doing better than Norway.
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I am making 2 points there, so you wouldn't expect them to be the same.
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0
