tag:blogger.com,1999:blog-4471993488623327927.post8466192282062325165..comments2024-03-13T06:57:54.343+00:00Comments on Obnoxio The Clown: Thoughts on VAT risingObnoxio The Clownhttp://www.blogger.com/profile/12012089552153702526noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-4471993488623327927.post-56174788699090945352010-06-23T21:33:14.612+01:002010-06-23T21:33:14.612+01:00I did laugh at Vince Cable's reincarnation as ...I did laugh at Vince Cable's reincarnation as the little deep throating frog. Any chance of sloppy seconds?gitanenoreply@blogger.comtag:blogger.com,1999:blog-4471993488623327927.post-55117462350068531112010-06-23T21:06:09.689+01:002010-06-23T21:06:09.689+01:00@ RT, VAT is not a tax on consumption, it is a tax...@ RT, VAT is not a tax on consumption, it is a tax on production or output or value added. That's simple maths.<br /><br />The only 'consumption' spending (i.e. private spending that is of benefit to the individual to the exclusion of anybody else) that is not the equal and opposite of some other individual's (or business') 'production' is of course the money we pay for the right to exclusive occupation of land (or a few other state protected monopolies, like for example cherished number plates or mining or drilling rights - a fossil fuel can be consumed once and once only).Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-4471993488623327927.post-72833115798368548942010-06-23T11:20:33.806+01:002010-06-23T11:20:33.806+01:00@Mark,
What are your views on a true tax on consu...@Mark,<br /><br />What are your views on a true tax on consumption?Roger Thornhillhttps://www.blogger.com/profile/03591327286533118901noreply@blogger.comtag:blogger.com,1999:blog-4471993488623327927.post-91433254927959997632010-06-23T10:08:52.639+01:002010-06-23T10:08:52.639+01:00HOW THE BUDGET WILL AFFECT YOUR POINTLESS, MONEY-O...<a href="http://newsarse.com/2010/06/23/austerity-not-so-bad-insist-cider-drinkers/" rel="nofollow">HOW THE BUDGET WILL AFFECT YOUR POINTLESS, MONEY-OBSESSED LIFE</a> - The Daily Mash is, as ever, helpful with budgets.rayhttp://lostaddress.orgnoreply@blogger.comtag:blogger.com,1999:blog-4471993488623327927.post-14626992606415555342010-06-23T09:25:59.259+01:002010-06-23T09:25:59.259+01:00I can't remember the tast time I bought a vata...I can't remember the tast time I bought a vatable item.<br />Apart from food, we buy clothes / shoes from the charity shop and everything else we need from ebay.<br />Thats beacause we have no children and work in the private sector.<br /><br />Oh, booze. That has VAT on it doesn't it? Crap!Buckohttps://www.blogger.com/profile/03169970711606515445noreply@blogger.comtag:blogger.com,1999:blog-4471993488623327927.post-75421580681283000622010-06-23T08:12:43.187+01:002010-06-23T08:12:43.187+01:00I'm sceptical that the incidence of VAT falls ...I'm sceptical that the incidence of VAT falls primarily on shareholders. Perhaps in the short term, and especially so for an explicitly temporary change in the rate, but over time surely the consumer will ultimately bear the brunt of the tax.Idle Pen Pusherhttps://www.blogger.com/profile/08319222131717187999noreply@blogger.comtag:blogger.com,1999:blog-4471993488623327927.post-1601491562768490162010-06-23T08:06:55.429+01:002010-06-23T08:06:55.429+01:00"No serious person expected it to."
But..."No serious person expected it to."<br /><br />But Gordon Brown sai ... oh!Obnoxio The Clownhttps://www.blogger.com/profile/12012089552153702526noreply@blogger.comtag:blogger.com,1999:blog-4471993488623327927.post-60889198251187687022010-06-23T07:56:18.872+01:002010-06-23T07:56:18.872+01:00Of course the cut from 17.5% to 15% didn't hav...Of course the cut from 17.5% to 15% didn't have some magical effect and of course it didn't boost demand. Demand is fairly fixed. No serious person expected it to. <br /><br />What we expected was that business margins would improve, fewer businesses would go bankrupt and fewer people would lose their jobs.<br /><br />VAT is not a tax on 'consumption'. It is a tax on gross profits (profits plus wages plus interest plus rents). It is a tax on 'value added', the clue is in the name. For mathematical reasons, a 2.5% VAT cut or hike is far better or worse for business that a 2.5% corporation tax cut or hike.<br /><br />That's all.Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.com