Beer Then Wine, We’ll Be Fine

“I have taken more out of alcohol that alcohol has taken out of me“, declared Winston Churchill.

The national saviour and veteran tosspot was right not just for himself, but for his nation.

Because it turns out that here in the UK, drinkers pay for quite a bit of what we need doing.

But how much?

When we on the Right lazily claim that welfare recipients spend their dole money on “beer and fags”, the Left insists that this is a myth – that dole money is barely enough to live on, and there is precious little left over for recreationals.…

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British Surgeons Prove The Laffer Curve

That is, British surgeons not just test the Laffer Curve, one meaning of prove, but actually prove to be true the central contention. There’s a level of taxation at which people withdraw their labour, thereby making the economy smaller – and thereby reducing tax revenues.

We have reached this in the UK already:

Patients will face longer waits for operations this winter as surgeons refuse to work overtime because of a pensions “tax trap,” senior doctors have warned.

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Near Half Of Adults Don’t Pay Income Tax Says IFS – Good, This Is As It Should Be

The Institute for Fiscal Studies tells us that near half of all adults don’t pay any income tax. From this side of the fence – good, that’s the way things should be. We should be striving, in fact, to get that up to precisely half.

That is, we tax the poor too heavily.

Record numbers of adults are paying no income tax, an analysis by the Institute of Fiscal Studies (IFS) shows, as the burden increasingly falls on the top one per cent of earners.

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Boris Johnson To Enact A Continental Telegraph Policy

We around here have been championing a specific tax idea as long as, well, as long as we’ve been around here at the Continental Telegraph. The original genesis of the idea being rather further back than our founding but from the same people.

Back when the Living Wage campaign started. They pointed out that people earning minimum wage weren’t making what people thought you needed to make in order not to be in poverty. That is, minimum wage was poverty wages.…

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Is the BBC Worth The Money?

The BBC will no longer be free to pensioners, they will soon need to pay the £155 a year Licence Fee that every other household pays.

That the licence fee is a tax should be obvious. Everyone has to pay it, you don’t get anything you specifically want for it and it is a criminal offence not to pay it. As a flat rate tax it is also a bad tax. It hits the poorer harder than the rich, and collection costs run a touch over 2% of revenue collected.…

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Can We Stop The Idiocy About The Laffer Curve Please?

That working out where the peak of the Laffer Curve is is difficult is entirely true. That it’s going to be different for each tax in each different legal and societal set up is also true. But that doesn’t excuse drivel like this:

The ends of the curve are basic enough – at a tax rate of 0, the government will raise $0 in revenue, and at a tax rate of 100, the government will still raise $0 in revenue because people won’t work without take-home pay.

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Exactly 14 People Believe UK Taxes Are Too Low, By Exactly £11,069

There are many people who tell us that taxation in the UK is too low. Just think of all the gorgeously bureaucratic things that could be done if only the government had more money! Then there’s the number of people who actually do pay more tax on the basis that they think the government should have more money. The second being a rather smaller number than the first.

Which does bring us to that basic point that economists do insist upon making.…

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Ain’t Tax Justice UK Perceptive? Tax Breaks For Millionaires Go To Millionaires!

You’d think that people campaigning about taxation would be able to understand the basics of taxation, no? Although, given the competition from people like the Senior Lecturer perhaps not. But this is still pretty good even given those strictures. Tax Justice UK has just noted that tax breaks for millionaires are mostly enjoyed by millionaires. And isn’t that a surprising outcome?

The background here is that there are various reliefs about inheritance tax. Agricultural land doesn’t pay it.…

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Try Taxing The Rich And They’ll Bugger Off – And Why Shouldn’t They?

One of the amusing little asides in the economics of taxation is that we here in Europe have rather higher tax rates than they do over in the United States. Yet the structures of our tax systems – more specifically, the laws surrounding who gets taxed and why – suggest that we should in fact have lower rates than they. The point being about our old friend the Laffer Curve and where the peak of it is.…

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Tax Frozen Libyan Assets To Compensate IRA Victims? Nope, No Way

There’s a suggestion that we should be using the tax collected upon frozen Libyan assets to compensate victims of IRA attacks. Attacks made, so it is said, by the Libyan provision of funding and weapons to the IRA, the thing which led to the freezing of the assets. To which the answer is No. And also nope and no way.

The point here being that whether or not there should be compensation is one question. Whether or not there is taxation of those frozen assets is another.…

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