Current Affairs The General Election

[tsubaki]

and that is Yougov saying that

 

[davek]

No such thing as free.

It's a good job that's not true or you wouldn't have your education or job that came from it.

 

[orly]

It's a good job that's not true or you wouldn't have your education or job that came from it.

 

[summerisle]

and that is Yougov saying that

The people they polled. But, it is YouGov, so a little seasoning required.

 

[ToffeeTim]

On this. The estimates are that Labour's broadband policy would cost £100bn. The big 5 tech firms last year made £107bn in profit globally, so even if you made the ridiculous assumption that you could tax their global profits, that would still only bring in a shade over £20bn (at the current 19% tax rate). As the bulk of the income of these companies comes from the US, the likely figure is going to be several orders of magnitude smaller than that.

In other words, just taxing Google, Amazon et al at the appropriate rate won't come close to giving the government enough to nationalise the broadband industry.

I don't think Corbyn and McDonnell care in the slightest about the economics behind their policies. They are more concerned with playing to the gallery.

The reality is that all that spending on nationalisation needs to be funded by someone. It will either be ordinary people through tax hikes or by the generations to come who are left to deal with all the debt.

People just don't understand the tax system. "Just tax Google Starbucks and Amazon" more is a sure sign someone hasn't a clue what they are talking about.

 

[tsubaki]

I don't think Corbyn and McDonnell care in the slightest about the economics behind their policies. They are more concerned with playing to the gallery.

The reality is that all that spending on nationalisation needs to be funded by someone. It will either be ordinary people through tax hikes or by the generations to come who are left to deal with all the debt.

People just don't understand the tax system. "Just tax Google Starbucks and Amazon" more is a sure sign someone hasn't a clue what they are talking about.

Again, they are not proposing to pay for this by just taxing Google, Starbucks and Amazon.

 

[ToffeeTim]

5% of £107 billion is £1bn?

Dianne is that you?

Nope.

But 19% of 5% of 107bn is about 1bn.

Their global profits cannot be taxed in the UK. Only their UK profits. I can only assume McDonnell doesn't understand this basic point.

 

[peteblue]

would you like free stuff, 62% say yes please, now there’s a shock....

would you support BT being nationalised 32% yes 31% no.......so even half of those who want the free stuff would not support BT being nationalised......

 

[NilSatisOptimum]

People just don't understand the tax system. "Just tax Google Starbucks and Amazon" more is a sure sign someone hasn't a clue what they are talking about

Read this.

https://www.penguin.co.uk/books/110/1108553/the-joy-of-tax/9780552171618.html

 

[tsubaki]

would you like free stuff, 62% say yes please, now there’s a shock....

would you support BT being nationalised 32% yes 31% no.......so even half of those who want the free stuff would not support BT being nationalised......

That is a remarkable reading of that poll - are you going to vote Lib Dem now, pete?

 

[Hickson9]

I don't think Corbyn and McDonnell care in the slightest about the economics behind their policies. They are more concerned with playing to the gallery.

The reality is that all that spending on nationalisation needs to be funded by someone. It will either be ordinary people through tax hikes or by the generations to come who are left to deal with all the debt.

People just don't understand the tax system. "Just tax Google Starbucks and Amazon" more is a sure sign someone hasn't a clue what they are talking about.

No country needs to "deal with all the debt". That would be a terrible government policy.

The aim should be to grow the economy at a higher rate than the rate of debt growth, not eliminate the debt.

Running down debt is a lack of possible investment.

 

[orly]

Read this, https://www.penguin.co.uk/books/110/1108553/the-joy-of-tax/9780552171618.html

Crying, @ToffeeTim doesn't need a Penguin link you loon

 

[peteblue]

It's a good job that's not true or you wouldn't have your education or job that came from it.

Nothing is free, certain things may be at no cost to an individual, but somebody else is picking up the cost....

 

[peteblue]

That is a remarkable reading of that poll - are you going to vote Lib Dem now, pete?

how is it a remarkable reading, 62% say give us free stuff but only 32% say nationalise BT......

 

[summerisle]

I wonder if this will be mentioned on the BBC this weekend ?