50% rate of tax to be abolished.

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EFCNIK said:
Scousers do have a victim mentality. And that's coming from a scouser. A few I know in fact.

Or should I have put that in the controversial thread?
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Nik, you pop-corn monster.........................................i`ll bite though. the `victim` thing is played on and broardened by publicity given by anyone who doesnt really know and wants to generalize about a small section of society- in this case, scousers. most people in liverpool dont give a flying fck for much else `cept getting on with their lives which in the majority i`d say is an easy going, live and let live attitude. liverpool has been much maligned for a few generations, talk to anyone over 60 about the stigma of being a scouser and theyll tell you the score. i knew old folks who went dahn sarf to that london and couldnt get work if it was known where they were from. this `victim` drool has got prejudice behind it.
 
Bruce Wayne said:
They're serious issues. Take inflation for instance. Right now the government is printing money left right and centre to try and get themselves out of the financial mess they find themselves in. More money in the system = a devaluing of what was already there, ie inflation. It's currently at around 4% I believe.

Most savings accounts are paying out between 0.5-1% in interest rates, so if you are financially prudent and save your money you're affectively losing 3% a year because of what the government are doing.

We must remember here that the mess we're in was caused by people borrowing more than they could afford, be they individuals or banks. So you'd think that a cultural shift would be in order to encourage people to save more so that we don't get into such a mess again. Not a bit of it. Instead the government are begging banks to lend more money to people and punishing individuals for saving money.

So ignoring the stupidity of this policy for a minute, surely printing money, and therefore causing inflation, is a tax on savings of whatever the gap is between savings rate and inflation?
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Indeed.

One group who is really hurt by this money printing/quantitative easing is pensioners and people on fixed income - one of the very groups who the left constantly bang on about needing to help. The QE programme has pushed pension annuities down to record lows now and the soaring inflation in everyday essentials is eating into their fixed income. How is that compassionate?

Likewise the minimum wage - this just destroys jobs. Jobs don't grow on trees, they come about because employers need to hire labour. If the cost of that labour is higher than its productivity, then those jobs simply won't be created. If we can make ourselves better off with higher wages, why not make it £20ph? or 100ph?

It all comes back round to government fiscal and monetary policy. Everything they do has the effect of taking from one group and giving to another. Once you start trying to control one thing, you create imbalances that mean you have a shortage in one area and an oversupply in another. Then they try to fix these imbalances with more policies and soon it snowballs and you end up with an economy that is more government-planned than it is private, and that can't operate efficiently.
 

Wonderful things happen when you have a faith in free people and leave them to themselves:

http://www.econlib.org/library/Essays/rdPncl1.html


I, Pencil, am a complex combination of miracles: a tree, zinc, copper, graphite, and so on. But to these miracles which manifest themselves in Nature an even more extraordinary miracle has been added: the configuration of creative human energies—millions of tiny know-hows configurating naturally and spontaneously in response to human necessity and desire and in the absence of any human master-minding!
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