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- 49. Australia vs. the United States: Two Charts that Tell You Everything You Need to Know about Social Security Reform
There are two serious problems with America’s Social Security system. Almost everyone knows about the first problem, which is that the system is bankrupt, with huge unfunded liabilities of about $30 trillion.The other crisis is that the system gives workers a lousy level of retirement income compared to the amount of taxes they pay during their working years. Younger workers are particularly disadvantaged, as are African-Americans because of lower life expectancy.These are critical issues, but perhaps looking at a couple of charts is the best way to illustrate why the Social Security system is inadequate.
URL: http://danieljmitchell.wordpress.com/2012/05/02/australia-vs-the-united-states-two-charts-that-tell-you-everything-you-need-to-know-about-social-security-reform/ - 167KB - 08 Jan 2014
Excerpt: numbers generated by america 8217 s tax and transfer entitlement system...
- 50. Labour 'helps donor avoid £1.5m tax bill': Tories denounce 'rank hypocrisy' of shares ploy |...
Businessman John Mills revealed his £1.65million donation to Labour in January this year was made in the form of shares in his shopping channel company JML.
URL: http://www.dailymail.co.uk/news/article-2336640/Labour-helps-donor-avoid-1-5m-tax-Tories-denounce-rank-hypocrisy-shares-ploy.html - 218KB - 21 Jun 2013
Excerpt: demands labour pay 1 5million in tax after helping donor to cut tax bill...
- 51. 50p tax rate 'failing to boost revenues’ - Telegraph
The amount of income tax paid fell sharply last month in the first formal indication that the new 50p higher rate is not raising the expected amount of revenue.The Treasury received £10.35 billion in income tax payments from those paying by self-assessment last month, a drop of £509 million compared with January 2011. Most other taxes produced higher revenues over the same period.Senior sources said that the first official figures indicated that there had been “manoeuvring” by well-off Britons to avoid the new higher rate. The figures will add to pressure on the Coalition to drop the levy amid fears it is forcing entrepreneurs to relocate abroad.
URL: http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/9097219/50p-tax-rate-failing-to-boost-revenues.html - 98KB - 22 Feb 2012
Excerpt: rss feed for tax articles telegraph co uk dcsimg...
- 52. New fuel tax stands at forecourts across the country show the true cost of taxes on petrol and...
We’ve today launched a major new campaign with the Petrol Retailers Association (PRA) to highlight the burden that excessive fuel taxes are placing on motorists and retailers alike. Our latest campaign against high taxes is targeted where they hurt the most, at the pumps. Working with the PRA, over 5,000 Fuel Tax Stands have gone to independent forecourts across the UK so that customers can see exactly how much of their cash is going straight to the Treasury.The stands show that 60 per cent of what customers pay at the pumps goes straight to the tax man. When drivers pay £30 at the till, around £18 of that is paid straight to the Exchequer, with only the remaining £12 covering the cost of the fuel – including just £1 to the retailer.
URL: http://www.taxpayersalliance.com/home/2012/08/fuel-tax-stands-forecourts-country-show-true-cost-taxes-petrol-diesel.html - 76KB - 07 Sep 2012
Excerpt: the taxpayers alliance new fuel tax stands at forecourts across the...
- 53. Chart shows how much prices would be if fast-food workers were paid $15 an hour - Young Conservatives
I hope you’re ready for “The Dollar Menu” to become the “The Dollar Thirty-Eight Menu”.When things on the dollar menu are $1.38, who does that hurt the most? Poor people.That’s what liberals just don’t understand. They say things that make you feel good then implement policy that is doomed for failure.
URL: http://www.youngcons.com/chart-shows-how-much-prices-would-be-if-fast-food-workers-were-paid-15-an-hour/ - 761KB - 10 Aug 2015
Excerpt: actually still a negative income tax is the best option not raising the...
- 54. How Ed and David Miliband exploited a tax loophole described by Gordon Brown as "tax abuse"
Ed Miliband poses as a man of the people, someone who empathises with the struggles of the poor and who would do anything to alleviate them. Wouldn’t you think then that tax loopholes would be beneath high minded leftie Ed, and that he would die rather than deprive the state of a penny of any tax owed? Especially since his dad Ralph, was a Marxist and don’t they believe that property is theft?Not bloody likely! When life long Marxist Ralph Miliband died, Ed and brother David arranged a deed of variation, legally, exploiting a tax loophole, whereby 40% of Ralph’s valuable Primrose Hill property was transferred to his sons, who each received a 20% share.
URL: http://cyberboris.wordpress.com/2013/08/15/how-ed-and-david-miliband-exploited-a-tax-loophole-described-by-gordon-brown-as-tax-abuse/ - 57KB - 15 Aug 2013
Excerpt: ed and david miliband exploited a tax loophole described by gordon brown...
- 55. Tories are plotting to bring back 10p tax rate axed by Gordon Brown to kill perception they are...
Ministers are examining plans being advanced by Tory backbenchers to ensure that the first £2,500 of taxable income is taxed at 10p in the pound rather than the current rate of 20p.
URL: http://www.dailymail.co.uk/news/article-2268556/Tories-plotting-bring-10p-tax-rate-axed-Gordon-Brown-kill-perception-party-millionaires.html - 235KB - 26 Jan 2013
Excerpt: are plotting to bring back 10p tax rate axed by gordon brown to kill...
- 56. David Ruffley MP: The 50p tax is bad for Britain. Scrap it. Comment
The 50p rate proves “we’re all in this together”. Or so leading modernisers will have you believe. But they’re wrong, as five hundred entrepreneurs reminded us in a letter in today’s The Daily Telegraph. They urge George Osborne to abolish the 50p top rate of income tax in this month’s Budget.Waiting until 2014 or 2015 to scrap it is risky. If the Chancellor leaves it that late, the 50p rate will have done still more damage to the economy. It could also become a political football at the General Election. Much better to get it out of the way now.It is true that some opinion polls last year showed that the 50p tax rate had public support. But would the public be quite so supportive if they were reminded that without the drive and energy of successful entrepreneurs, jobs and growth decline?Labour introduced the 50p rate in 2010, largely for class war reasons in their desperate search for votes. George Osborne, boxed in, judged that he could not be seen to cut tax for “the rich” given that his priority was to build support for reducing the biggest deficit in British peacetime history.But he must now listen to the 500 entrepreneurs against 50p as he constructs this month’s Budget. Whilst this most political of Chancellors will be concerned about “the optics” of cutting tax at a time of national austerity, he has already laid the ground for scrapping the 50p tax rate.
URL: http://conservativehome.blogs.com/platform/2012/03/david-ruffley-mp-the-50p-tax-is-bad-for-britain-scrap-it.html - 212KB - 01 Mar 2012
Excerpt: state main david ruffley mp the 50p tax is bad for britain scrap it screen...
- 57. Tim Knox: A substantial Corporation Tax cut would send a bold pro-growth, pro-enterprise message...
Tim Knox is Director of the Centre for Policy Studies which today publishes How to cut Corporation Tax (pdf) by David Martin.We have heard rather a lot recently about how we must not tolerate “high rewards for failure”. But there is a logical corollary to that particular line: that we should be equally vehement about not imposing high penalties on success. And that is what the tax system does, not just on those individuals who pay higher rate taxes but also on business. For Corporation Tax – a tax on business profits – is effectively a tax that is only paid by successful businesses. It is money taken by the state from highly productive enterprises, money that could otherwise have been reinvested in new ventures. And it is money that is then consumed by the state, notorious for its low level of productivity.
URL: http://conservativehome.blogs.com/thinktankcentral/2012/02/tim-knox-of-cpsthinktank-cutting-corporation-tax-would-send-a-bold-pro-growth-pro-business-message.html - 50KB - 01 Feb 2012
Excerpt: usa a average family pays a 656 000 tax over lifetime calculates the...
- 58. Labour would bring back 50p top rate of tax so the richest pay their fair share, says Ed Balls |...
A Labour government would re-introduce the 50p top rate of tax to force the rich into paying their fair share, Ed Balls pledged today.The shadow chancellor said he would reverse the decision taken by the coalition to reduce the amount levied on Britain's highest earners - those on more than £150,000 - so he could help reduce the deficit.Mr Balls told the annual Fabian Society conference in central London this morning that 'those with the broadest shoulders' should bear a 'fairer share of the burden'.However, his plans could cause 'unmitigated disaster', a tax campaigners' group warned, while businesses said the call smacked of a 'knee jerk reaction'.
URL: http://www.dailymail.co.uk/news/article-2545813/Labour-bring-50p-rate-tax-richest-pay-fair-share-says-Ed-Balls.html - 339KB - 25 Jan 2014
Excerpt: is elected business leaders and tax campaigners criticised ed balls...
- 59. Two thousand 'off payroll' senior civil servants forced to prove they are not tax dodgers -...
Two thousand senior civil servants will be forced to prove they are paying their fair share of tax or lose their jobs, Danny Alexander, Chief Secretary to the Treasury, said last night.An official investigation found large scale tax avoidance among senior bureaucrats, prompting the massive crackdown by Mr Alexander.In all, 2,000 senior public officials were found to be paid “off payroll”, which could minimise their tax bills, according to a leaked letter obtained by Exaro, the investigative website and the BBC's Newsnight programme.They are paid through service companies, or through employment agencies. The amount of tax legally avoided could run into tens of millions of pounds.
URL: http://www.telegraph.co.uk/news/politics/georgeosborne/9241789/Two-thousand-off-payroll-senior-civil-servants-forced-to-prove-they-are-not-tax-dodgers.html - 79KB - 02 May 2012
Excerpt: forced to prove they are not tax dodgers two thousand senior civil...
- 60. One in three will end up paying higher rate tax, Office for Budget Responsibility analysis suggests
One in three workers will be a higher rate taxpayer within two decades as the 40p band becomes the “norm” for millions of the middle class, the official economic forecaster has suggested.More than 10 million people will have been dragged over the higher rate threshold by 2033, twice as many as at present, according to an analysis by the Office for Budget Responsibility.They are likely to include growing numbers of teachers, senior nurses and others who would not traditionally be regarded as high earners.The figures, published in response to a request by The Telegraph, will increase pressure on David Cameron to pledge to raise the threshold in the Conservative manifesto next year.
URL: http://www.telegraph.co.uk/finance/personalfinance/tax/10987326/One-in-three-will-end-up-paying-higher-rate-tax-Office-for-Budget-Responsibility-analysis-suggests.html - 71KB - 25 Jul 2014
Excerpt: rss feed for tax articles telegraph co uk dcsimg...
- 61. We'll ditch married tax break, says Ed Balls
Labour will scrap the Conservatives’ ‘perverse and unfair’ new £1,000 transferable tax allowance for married couples, Ed Balls announced last night.The shadow Chancellor said a Labour government would reverse the Government’s proposal to restore recognition for the institution in the tax system, and spend the money to help fund a reintroduction of the 10p tax rate.Work and Pensions Secretary Iain Duncan Smith, the staunchest champion of marriage in the Cabinet, condemned the announcement.Only the 24 million basic rate taxpayers will benefit, though David Cameron has signalled he wants to go further if re-elected with a Conservative majority.Polls show overwhelming support for the new allowance, though it is opposed by both Labour and the Liberal Democrats. A recent YouGov poll found that 62 per cent of people back the idea, with just 20 per cent against.Assessing Mr Osborne's tax policies ahead of next week's Budget he said: ‘Personally, I think that first of all, George Osborne should first of all admit the 50p tax cut at the top was a big mistake.
URL: http://www.dailymail.co.uk/news/article-2580805/Well-ditch-married-tax-break-says-Ed-Balls-warning-one-three-couples-tie-knot-benefit-Tory-plan.html - 338KB - 14 Mar 2014
Excerpt: previous next we ll ditch married tax break says ed balls in warning only...
- 62. £2billion in 'holiday tax' just to escape Britain as those flying off are forced to pay Air Passenger Duty, Vat & Insurance tax
New research from the TaxPayers Alliance warns UK flight taxes are the most expensive in the world, adding hundreds of pounds to some holidays.
URL: http://www.dailymail.co.uk/news/article-2403168/2billion-holiday-tax-just-escape-Britain-flying-forced-pay-Air-Passenger-Duty-VAT-insurance-tax.html - 259KB - 28 Aug 2013
Excerpt: 63 shares 2billion in holiday tax just to escape britain as those...
- 63. Boris Johnson calls Ken Livingstone a f***ing liar over tax affairs | Mail Online
Ken Livingstone and Boris Johnson's first live debate descended into a furious bust-up as the pair clashed over their tax arrangements ahead of next month’s London mayoral elections.Mr Livingstone has come under attack in recent weeks over claims that he was paid via a company so he was liable only for 20 per cent corporation tax rather than the higher rate of income tax.Mr Livingstone accused the mayor of having 'the same arrangements' for dealing with his media earnings - insisting he had used a company called Finland Station to do so.But Mr Johnson denied that he had ever used a company to avoid tax, calling Mr Livingstone 'a bare faced liar'.During the debate, Mr Johnson insisted: 'I pay income tax. I'm proud of it.'I think it's pretty disgraceful to be attacked by Ken Livingstone - someone who has deliberately set up a tax dodging maneuver and then denounced anyone else who did so, which does not include me.'But the pair continued to row even after the show had finished when a furious Mr Johnson swore at his Labour opponent.Travelling up to the roof terrace to be photographed, the Mayor shouted at Mr Livingstone 'it’s all f****** lies, it’s all f****** lies'.Other reports claim a red faced Johnson went 'nose to nose' with Livingstone as they stood in the lift and repeatedly told him: 'You are a f****** liar'.
URL: http://www.dailymail.co.uk/news/article-2124509/Boris-Johnson-calls-Ken-Livingstone-liar-tax-affairs.html - 151KB - 03 Apr 2012
Excerpt: spat over who avoids paying most tax and the row got even more heated...
- 64. Stop bashing the rich, Dave. You're playing politics with our prosperity | Mail Online
The sound of ministerial retreat is once again loud in the land. It appears that in the face of gathering outrage, the Government is rethinking its Budget proposal to cap tax relief on charitable donations.More than 2,000 charities and individuals have joined a campaign against this plan. At the weekend, dozens of philanthropists from the arts, education and business wrote that it may deter future charitable donors.In response to the uproar, we are being told that Treasury officials are looking at an American scheme to encourage charitable giving rather than discourage it.And this week Deputy Prime Minister Nick Clegg will be in full damage limitation mode at an event billed as celebrating philanthropy.In other words, sheer panic-stricken chaos — the latest fall-out from George Osborne’s disastrous Budget.But this particular debacle is especially hard to understand. The Treasury claimed it wanted to prevent abuse by rich people who were using charitable donations to minimise their tax bill.
URL: http://www.dailymail.co.uk/debate/article-2130257/Stop-bashing-rich-Dave-You-playing-politics-prosperity.html - 106KB - 16 Apr 2012
Excerpt: its budget proposal to cap tax relief on charitable donations more...
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