Jump to content

Never never Land !


observer
 Share

Recommended Posts

Seems the UK population are in debt to the tune of £1.24TRILLION !   Those who have saved and tried to build that nest egg, are apparently dipping into their savings, possibly to manage the bills rising faster than inflation, possibly cos the interest on their cash is negligible or possibly cos their savings have been robbed by the Gov's "quantative easing" . Seems we're still in a financial mess then?

Link to comment
Share on other sites

The whole financial services sector of the economy is based on placing people in debt  ,nearly every product that is advertised tries to invite you to go into debt to buy it so you can keep up with the Jones's ,but the term being given credit or taking out a loan sounds better than  "Yes, i have gone into debt to buy that product " .

Link to comment
Share on other sites

The problem is Tex; that folk are living (borrowing) beyond their means (to pay back); which gave rise to the sub-prime bubble and growth of "toxic debt"; which will be written off or paid for by those who've acted with fiscal caution.  Whilst economies can be stimulated by the spending of the great unwashed, imo this should be facilitated by redistribution not credit.

Link to comment
Share on other sites

Get your point Obs.   I was trying to keep it 'pithy' and I should have added the line " but never let your credit borrowing exceed your available funds".   Don't believe in redistribution because there is absolutely no valid argument to support unbalancing a tax system, by forcibly and disproportionately taking away one persons assets and giving them to someone else, no matter how noble it may seem.  Encouraging people, through tax breaks etc to contribute to charities voluntarily is fine, but manadatory state robbery of successful people can never be justified.  Government's  goal should be to make everyone better off, not some better off and some worse off.  To paraphrase the great lady  "Socialism takes some happy people and some miserable people and makes everbody miserable".

Link to comment
Share on other sites

Problem with "Reganomics" is that the inevitable concentration of wealth in the hands of the few, stifles demand - after all, they can only eat one meal a day or drive one car at a time. If the cash is regularly redistributed, demand is stimulated throughout the economy - not particularly meant to be noble Tex, just pragmatic.

Link to comment
Share on other sites

The idea of redistribution of wealth by taxation is fine in principle. The problem is that the politicians don't see why they shouldn't help themselves to the bulk of it by way of "administration charges" meaning that the wealthy get a little less wealthy, the middle earners get poorer and the poor stay poor. But the politicians are happy because they get their own way as usual.

Link to comment
Share on other sites

Well a good accountant can pay for himself, by definition. No point in employing an accountant who costs you money!

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

×
×
  • Create New...