VAT rise and how it will help tackle the deficit (not)

isnt it hilarious that all the austerity measures are being made simply to allow us to borrow more money?! the state is bankrupt - it is merely a question of how long it can continue to live off pretend money

It's all there in the public domain (for the most part) if anyone would bother looking for it.

http://www.direct.gov.uk/prod_consum_dg/groups/dg_digitalassets/@dg/@en/documents/digitalasset/dg_188588.pdf

The UKG takes-in £150 billion in Income Tax and a further £99 billion in National Insurance.

The UKG spends £194 billion In Social Protection and a further £122 billion in Health Care.


We are a nanny nation with an unsustainable financial condition. We pay out more in welfare, than we bring-in through income taxes, and spend more on health care, than we bring-in through National Insurance. We could double income taxes, and it wouldn't close the deficit.

What the coalition Conservative/Liberal Democrat is doing now is once again trying to kick-the-can down the road by continuing the same failed policies of the Labour party.

You may also find this story in the Guardian interesting:

VAT increase 'will hide price rises'
http://www.guardian.co.uk/business/2010/dec/14/retail-inflation-vat-price-rises

Inflation? What inflation??? Where?

What about other sources of tax?
Value Added Tax
Corporation tax
Capital Gains tax
Inheritance tax
Stamp duty
Stamp duty land tax
Stamp duty reserve tax
Insurance Premium tax
Landfill tax
Aggrgates Levy
Vehicle Licence duty
Air Passenger duty
Excise duties on controlled items such as petrol, tobacco and alcohol
Climate Change levy
Betting tax (levied on bookmakers now)
Gaming licences of all sorts
special taxes on oil producers (can't remember the names)
Television licence
various businesses have to have a licence to operate which are similar to a tax
Council tax
- Prescription charges (although not specifically a tax, you are reimbursing the NHS for the cost of them purchasing the medication)
- National Insurance for Employers (a tax on jobs and separate from the National Insurance charges you see on your payslip)
- Business rates

ignore the betting tax, old list found

TAX the rich, in sweden they have income tax for rich of 60% , thats how all western countries need to do it, catch the tax dodgers/cheats.

Also they have VAT @25% I believe.

if there s anything that this crises have been teaching us is that socialists countries have fared better.
anyway, if you had taxes at zero, vat at zero and all the useless list you put up at zero. i bet you something: either your salary would be lower or the prices of goods would be higher.
at the end of the day, it s only a matter of disposable income vs available goods.

Inflation? What inflation??? Where?

http://finviz.com/futures_performance.ashx?v=16

Inflation? What inflation??? Where?

http://www.bloomberg.com/news/2011-01-05/global-food-prices-climb-to-record-on-cereal-sugar-costs-un-agency-says.html

Inflation? What inflation??? Where?

http://foro.univision.com/t5/Noticias-y-Pol%C3%ADtica-en-Estados/Massive-Inflation-Right-under-Our-Noses/td-p/412906214

Inflation? What inflation??? Where?

China c.bank chief warns of inflation risk
http://www.reuters.com/article/idUSTRE7041XC20110105

Inflation? What inflation??? Where?

VAT rises across Europe: Inflation worries grow
http://www.smeweb.com/content/view/2409/89/

Inflation? What inflation??? Where?

OECD highlights inflation worries
http://news.bbc.co.uk/2/hi/business/7439066.stm