The majority of ordinary people in the UK pay taxes in the UK.
They pay in full.
The UK benefits from the services we fund.
The majority of very wealthy people avoid paying taxes in the UK.
They hoard it offshore.
No one, except them, benefits from their greed.
#TaxParasites
Taxes don't pay for services.
Taxes control inflation.
The Bank of England funds services by effectively printing money.
Services not being funded is a lack of political will, not a lack of funds.
The independent Office for Budget Responsibility was established in 2010 to monitor the public sector’s finances. Twice a year – usually alongside each Budget and Spring or Autumn Statement – we produce detailed forecasts for the coming five years, assessing the likely impact of any policy decisions and expected developments in the economy. We then...
@UKnoGum I don’t need to explain. They know. If taxes and spending don’t balance then we get inflation. But the spending doesn’t come out of a pot of money being topped up by taxes.
When the government wants to spend, it asks the Bank of England for money, the bank creates the money, which leads to an inflation, and then taxes reduce the inflation.
https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy
@pete
Well, that's a fascinating read...
So Government borrows (prints) money at will to buy things it wants & interest is there to cover the costs.
This causes inflation, so prices rise.
Interest rates rise to control inflation.
But higher interest rates mean borrowing is more expensive.
So more money is printed to pay it off...& round we go again.
Meanwhile, tax is a political choice to control people & Governments deliberately impoverish people through taxes for ideological reasons.
The Big Grift
knowgum
Pete
