The UK Politics and EU Referendum thread - merged

[Jon MW]

Would you support a maximum wage law in the UK?

Labour leader Jeremy Corbyn has again suggested he would like to see a maximum salary cap in the UK. Would you support this policy? And what level do you think maximum earnings should be?


https://www.theguardian.com/politics/2017/jan/10/would-you-support-a-maximum-wage-law-in-the-uk?CMP=twt_gu

I would.  I think it's a good ideaa.

Surely taxing a big wage properly is a way better idea?  A huge proportion of our tax revenues cone from the rich.  Limitting wages, limits your tax take.

Love the way Corbyn is so out of touch he doesn't see that he is filthy rich himself.

Politically bonkers and economically bonkers isn't it?

And unlike the last time Labour tried ultra high tax rates (if that's what it got modified to) there is a lot more deregulation now. I can see the banks etc. finding a way around Brexit - but scarpering if Corbyn came into power. (The City of London generates something like £65 billion pounds a year of tax for context)

[arbboy]

Most people who vote labour probably only have their job because of the excessive spending on rich people in the firms they work for.  Can't imagine the labour voting croupiers in Palm Beach or Ferrari garage workers being too impressed being thrown on the dole because of a maximum wage killing their businesses.  It is so stupid you can't even believe JC is for real whether you vote red, blue, yellow, UKIP or monster raving.

Let's say somehow it was introduced.  What would the max wage be?  £500k?  £1m?  Lower?  The JAM's in society struggle to live on £80k a year they would have you believe.

[PokerBroker]

Would you support a maximum wage law in the UK?

Labour leader Jeremy Corbyn has again suggested he would like to see a maximum salary cap in the UK. Would you support this policy? And what level do you think maximum earnings should be?


https://www.theguardian.com/politics/2017/jan/10/would-you-support-a-maximum-wage-law-in-the-uk?CMP=twt_gu

I would.  I think it's a good ideaa.

Surely taxing a big wage properly is a way better idea?  A huge proportion of our tax revenues cone from the rich.  Limitting wages, limits your tax take.

Love the way Corbyn is so out of touch he doesn't see that he is filthy rich himself.

No because the filthy rich don't pay the tax they are supposed to.  The tax laws in this country are an absolute sham.

Economic parity for me is far better.  I'd increase the minimum wage, cap the maximum (especially so in public services) and reform the tax system.  

[PokerBroker]

Most people who vote labour probably only have their job because of the excessive spending on rich people in the firms they work for.  Can't imagine the labour voting croupiers in Palm Beach or Ferrari garage workers being too impressed being thrown on the dole because of a maximum wage killing their businesses.  It is so stupid you can't even believe JC is for real whether you vote red, blue, yellow, UKIP or monster raving.

Let's say somehow it was introduced.  What would the max wage be?  £500k?  £1m?  Lower?  The JAM's in society struggle to live on £80k a year they would have you believe.

And if there is a maximum wage then the cost of ferraris becomes cheaper. 

[arbboy]

Most people who vote labour probably only have their job because of the excessive spending on rich people in the firms they work for.  Can't imagine the labour voting croupiers in Palm Beach or Ferrari garage workers being too impressed being thrown on the dole because of a maximum wage killing their businesses.  It is so stupid you can't even believe JC is for real whether you vote red, blue, yellow, UKIP or monster raving.

Let's say somehow it was introduced.  What would the max wage be?  £500k?  £1m?  Lower?  The JAM's in society struggle to live on £80k a year they would have you believe.

And if there is a maximum wage then the cost of ferraris becomes cheaper.  

No they wouldn't it is a global market.  Ferraris are not cheaper in the most potless African country just because they earn fuck all.  They just do without them.  Give me a laugh poker broker and tell me what you would set the max wage at.  It would mean Celtic and Rangers could easily win the EPL title if they ever moved south though.

[nirvana]

Most people who vote labour probably only have their job because of the excessive spending on rich people in the firms they work for.  Can't imagine the labour voting croupiers in Palm Beach or Ferrari garage workers being too impressed being thrown on the dole because of a maximum wage killing their businesses.  It is so stupid you can't even believe JC is for real whether you vote red, blue, yellow, UKIP or monster raving.

Let's say somehow it was introduced.  What would the max wage be?  £500k?  £1m?  Lower?  The JAM's in society struggle to live on £80k a year they would have you believe.

And if there is a maximum wage then the cost of ferraris becomes cheaper. 

Not really, you tend to make Trabants instead

[PokerBroker]

Most people who vote labour probably only have their job because of the excessive spending on rich people in the firms they work for.  Can't imagine the labour voting croupiers in Palm Beach or Ferrari garage workers being too impressed being thrown on the dole because of a maximum wage killing their businesses.  It is so stupid you can't even believe JC is for real whether you vote red, blue, yellow, UKIP or monster raving.

Let's say somehow it was introduced.  What would the max wage be?  £500k?  £1m?  Lower?  The JAM's in society struggle to live on £80k a year they would have you believe.

And if there is a maximum wage then the cost of ferraris becomes cheaper.  

No they wouldn't it is a global market.  Ferraris are not cheaper in the most potless African country just because they earn fuck all.  They just do without them.  Give me a laugh poker broker and tell me what you would set the max wage at.  It would mean Celtic and Rangers could easily win the EPL title if they ever moved south though.

£150k p/a seems fine to me. 

I like the swiss model, i think it is where the chief exec can't earn more than 100 x more than the guy at the bottom. 

[arbboy]

Most people who vote labour probably only have their job because of the excessive spending on rich people in the firms they work for.  Can't imagine the labour voting croupiers in Palm Beach or Ferrari garage workers being too impressed being thrown on the dole because of a maximum wage killing their businesses.  It is so stupid you can't even believe JC is for real whether you vote red, blue, yellow, UKIP or monster raving.

Let's say somehow it was introduced.  What would the max wage be?  £500k?  £1m?  Lower?  The JAM's in society struggle to live on £80k a year they would have you believe.

And if there is a maximum wage then the cost of ferraris becomes cheaper.  

No they wouldn't it is a global market.  Ferraris are not cheaper in the most potless African country just because they earn fuck all.  They just do without them.  Give me a laugh poker broker and tell me what you would set the max wage at.  It would mean Celtic and Rangers could easily win the EPL title if they ever moved south though.

£150k p/a seems fine to me. 

I like the swiss model, i think it is where the chief exec can't earn more than 100 x more than the guy at the bottom. 

So 100 times the minimum wage then basically?  over £1m a year then on that basis.

[Jon MW]

Would you support a maximum wage law in the UK?

Labour leader Jeremy Corbyn has again suggested he would like to see a maximum salary cap in the UK. Would you support this policy? And what level do you think maximum earnings should be?


https://www.theguardian.com/politics/2017/jan/10/would-you-support-a-maximum-wage-law-in-the-uk?CMP=twt_gu

I would.  I think it's a good ideaa.

Surely taxing a big wage properly is a way better idea?  A huge proportion of our tax revenues cone from the rich.  Limitting wages, limits your tax take.

Love the way Corbyn is so out of touch he doesn't see that he is filthy rich himself.

No because the filthy rich don't pay the tax they are supposed to....

except - they pretty much do. A small proportion of the filthy rich don't pay the tax they're meant to - and a small (but larger) proportion could pay more tax if the system was re-arranged. But a huge proportion of our tax revenue does come from the rich whether you agree with the system or not.

[DMorgan]

except - they pretty much do. A small proportion of the filthy rich don't pay the tax they're meant to - and a small (but larger) proportion could pay more tax if the system was re-arranged. But a huge proportion of our tax revenue does come from the rich whether you agree with the system or not.

Does this apply to corporations also?

Bernie goes on and on about how all of his spending pledges could be funded by more effective tax collection in the US. Are his points more relevant in the US system where he claims that firms keep hundreds of billions of dollars overseas to avoid the IRS? Do we have the same problem in the UK but it is kept out of the headlines because there isn't a marquee offender like Apple?

[Jon MW]

except - they pretty much do. A small proportion of the filthy rich don't pay the tax they're meant to - and a small (but larger) proportion could pay more tax if the system was re-arranged. But a huge proportion of our tax revenue does come from the rich whether you agree with the system or not.

Does this apply to corporations also?

Bernie goes on and on about how all of his spending pledges could be funded by more effective tax collection in the US. Are his points more relevant in the US system where he claims that firms keep hundreds of billions of dollars overseas to avoid the IRS? Do we have the same problem in the UK but it is kept out of the headlines because there isn't a marquee offender like Apple?

Corporations are much more complicated - any multinational could funnel money around the world to avoid paying tax but just because a company splits up operations between countries doesn't necessarily mean that's the reason it's doing so.

At the very aggressive end of avoidance it's easy to see that they're taking the piss, but a lot of multinationals are going to be in the grey middle where they could be doing something 'just' to avoid tax or they could be doing it for efficiency. I'm sure that in terms of numbers the vast majority of  companies pay their fair share - but it's impossible to work out if the tax avoided by the highest value companies outweighs all the smaller ones paying up because it's so hard to work out exactly how much they 'should' be paying.

[PokerBroker]

Would you support a maximum wage law in the UK?

Labour leader Jeremy Corbyn has again suggested he would like to see a maximum salary cap in the UK. Would you support this policy? And what level do you think maximum earnings should be?


https://www.theguardian.com/politics/2017/jan/10/would-you-support-a-maximum-wage-law-in-the-uk?CMP=twt_gu

I would.  I think it's a good ideaa.

Surely taxing a big wage properly is a way better idea?  A huge proportion of our tax revenues cone from the rich.  Limitting wages, limits your tax take.

Love the way Corbyn is so out of touch he doesn't see that he is filthy rich himself.

No because the filthy rich don't pay the tax they are supposed to....

except - they pretty much do. A small proportion of the filthy rich don't pay the tax they're meant to - and a small (but larger) proportion could pay more tax if the system was re-arranged. But a huge proportion of our tax revenue does come from the rich whether you agree with the system or not.

And you can evidence this?

Over the years the numbers I have seen of people not paying what they should/could is phenomenal and it's not just the rich.

PAYE folk do but those who are self assessing don't pay near what they should. 

[TightEnd]

Trump and Brexit put global economic growth at risk, World Bank says

Washington-based bank says policy uncertainty and protectionist tendencies could undermine pickup in 2017

https://www.theguardian.com/business/2017/jan/10/trump-brexit-global-economy-world-bank-2017?CMP=twt_gu

[TightEnd]

Three u turns in one day. impressive stuff

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[TightEnd]

the city remains worried

Click to see full-size image.