So, tell me about dividend taxation

From the IFS report:

Partnership and dividend income are taxed at lower rates than normal salaries – a policy choice to tax the incomes of business owners at lower rates than employees, which therefore benefits a significant share of the top 1%.

If you add corporation tax and income tax and NI together, are dividends actually taxed less than labour incomes? There’s been so much change in rates and stuff that I no longer know….

Anyone want to do a calculation (perhaps with and without NI?) on a £1 million income taxed as partnership income, labour income and dividends?

Oh, OK, never mind. They do the calculation in the report.

Ain’t capitalism great?

‘I don’t smell!’ Meet the people who have stopped washing
A growing number of people are eschewing soap and trusting bacteria to do the job instead – and an entire industry has sprung up to accommodate them

Soap dodger’s money smells no worse than anyone else’s. Thus there are capitalists happy to make a buck out of soap dodgers. Anyone able to name any other socioeconomic system that would cater to minority desires in this manner?

Economic idiot

US labels China a currency manipulator as trade tensions flare

As I point out elsewhere, the yuan falling is what is supposed to happen:

President Trump is vilely angry that China is manipulating the yuan down in value. This is to undo everything he’s been striving for in the trade negotiations, and how dare they do such a thing? It’s also true that the yuan going own in value is the normal and obvious market response to the various trade tariffs being imposed upon Chinese exports. Blaming people for what ought to happen, blaming people for what would happen even if everyone did nothing, doesn’t seem that great a basis for international politics.

The Donald might be doing good politics but then for me economics always does trump politics.

Good God, I agree with Noel Gallagher

Lately, he has been enraging remainers – of which he is one – by saying: “There’s only one fucking thing worse than a fool who voted for Brexit, and that’s the rise of the cunts trying to get the vote overturned.”

“And people started calling me a Nazi!” he says. “I thought: ‘Really? A member of the Third Reich?’ Look, I think it’s ridiculous that we’re leaving. None of us were even qualified to vote. You ask a guy above a chippy in Bradford if we should leave Europe. ‘Yeah!’ But I still think if there’s a second referendum, as a nation, we’ll never recover. We have to come out because, no matter how ill-informed people were, you’re saying to them their vote doesn’t count. And its symptomatic of shutting people’s opinions down.”

Not on the being a Remoaner of course, but on the once the vote’s been taken bit…..

Bugger off Madam

The new IMF chief should not be chosen by Europe alone
Amanda Khozi Mukwashi
The financial institution has the power to tackle the climate crisis yet it excludes applicants from the global south

There’s a simple explanation.

It simply cannot be right that the leadership of the institutions with the greatest power to tackle the climate crisis excludes applicants from those countries where that crisis is wiping out the lives and livelihoods of many millions of people. The IMF aims to create sustainable growth and to reduce poverty in the world. How can it do so when it is run on fundamentally undemocratic principles?

It’s the democracy of money. North America and Europe pay the money into these institutions. Therefore they get to decide where the money goes.

Now bugger off.

It is time for all members of the IMF to stand together and vote against a model that mocks the principles and values that the same countries place above all else.

Sigh. Ignorant twat.

Fast change in the story here

Menopause breakthrough will allow older women to have children after building a career, doctor claims

I swear that yesterday the story on this was that it was to delay menopause so that women felt younger for more years. And specifically, that it wasn’t about being able to have children later.

Today it’s about having children later. Pretty fast switch in the justification…..

Soon, soon

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The Effect Of Brexit On Rolls Royce

The Observer tells us that it’s all likely to be very difficult. Without actually managing to understand how the business works in the slightest.

Rolls-Royce has some advantages over other manufacturers under a no-deal Brexit. First, the aerospace industry already operates under World Trade Organisation rules, so there will be no extra tariffs.

Quite, so there’s no downside.

And what’s the thing the Observer doesn’t even know about? Rolls Royce earns in dollars. Which will be worth more when translated into sterling as the pound falls. And Rolls Royce reports in sterling. Thus Brexit will push up Rolls Royce profits. With no downside to be had from changes in tariffs.

Sigh.

Well, they would, wouldn’t they?

Relaxing green belt restrictions would be highly unpopular with voters, campaigners have warned, after Boris Johnson promoted several advocated of major planning reform to his Cabinet.

The Campaign to Protect Rural England is expected to publish a new poll showing that 63 per cent of the population oppose changes making it easier for homes to be built on green belt land – the protected zones across the country designed to prevent urban sprawl.

We can all agree that CPRE wouldn’t be releasing a poll where peeps said, sure, fine, just build on the damn stuff, yes?

This bird who killed her kids

The father of two young girls murdered by their sex worker mother claimed he warned social services about the “evil” killer who was jailed for life yesterday.

Louise Porton will serve a minimum 32-year prison sentence for murdering her two daughters because they “got in the way” of her sex life.

The 23-year-old suffocated three-year-old Lexi Draper and strangled 16-month-old Scarlett Vaughan in Rugby, Warwickshire in January and February last year.

In a victim statement, read out at Birmingham Crown Court by the prosecution, Chris Draper, the children’s father suggested he contacted social services about Porton before his daughters were killed.

“Maybe if social services had listened to me, my girls would still be alive today,” he said. Birmingham Children’s Trust did not respond to a request for comment.

Mr Draper said he was “broken” and no punishment would ever be enough.

“I sit and think, day and night, and I can’t understand why my two little girls were taken away because Louise wanted to sleep around.”

Mr Draper, who was in court for sentencing, said: “I hate Louise.”

In an other report it’s said that he never actually met the younger of the two children. Leading to the interesting question, well, where were you matey?

Lies, lies, lies

Other competitors included the current Miss Lincolnshire, Aysha Khan, who wore a wetsuit during the swimwear round.

She said: “I don’t really show much skin, because that’s what makes me feel comfortable.

“I didn’t wear a wetsuit just because my religion prohibits me.’”

Also among the finalists were Eleanor Farr, who has a titanium hip caused by rheumatoid arthritis and Lucy Krogdahl, who showed her self-harm scars.

Angie Beasley, director Miss England Ltd said: “England is a country that is completely occupied by people of all sorts. The Miss England contest has always been there for, and indeed encouraged, participation by every group and every type. We encourage entries from every ethnicity.”

You’re still excluding both men and the married. So it’s not every type, is it?

Well, no, not really

It is not every day that you read a stock market announcement like the one from Goals this morning. The company said that the discovery means that there is “material uncertainty” about its accounts and that it does not believe it will be able to file its 2018 accounts by the regulatory deadline of September 30. Missing this deadline means that shares in Goals will be cancelled from that date.

It is not every day that you read a report like that in a newspaper.

It is the listing that will be cancelled of course, not the shares.

He’s amazingly perceptive you know

Third, Boris was a facto. Wait until fuel prices increase in the next week or so and then see whether that remains the case, because he will be the sole reason for that.

Fuel prices are going to rise.

Oil prices plunged by more than 8 percent immediately after the news, pushing WTI below $55 per barrel and Brent down to $61.

An 8% drop in the USD price of oil is greater or lesser than the change in the value of the GDP against the USD?

Fuel prices are therefore going to do what?

Just telling people to do stuff doesn’t work then

A retired accountant from Wandsworth tells us that:

So, fourthly, what this proves is that Sajid Javid is a fantasist, living in his Brexit bunker, thinking that writing a letter will solve a problem. It won’t. Just a monent’s thought on his part would make that obvious.

So why has he done this?

Because he’s stuoid?

This from the Senior Lecturer who does indeed tell us on alternative days that if everyone just followed his own little plan then everything would work.

The levers of control in something as complex as a national economy are wet noodles for conservatives and progressives alike….

Strange but true

Poland revived its demand for war reparations from Germany yesterday as the two states observed the 75th anniversary of the Warsaw uprising, in which at least 15,000 resistance fighters and 150,000 civilians were killed for daring to stand up against Hitler.

Polish MPs claim that the unpaid bill for the slaughter and destruction inflicted on their country could amount to as much as €1 trillion. The question cast a pall over the commemoration of the fiercest rebellion against Nazi rule anywhere in Europe, which culminated in the razing of Poland’s capital after two months of ferocious fighting.

A Jew in Germany in 1933 had a better chance of surviving to 1945 than a Pole in Warsaw.

Slightly a trick number of course, for the early year Nazis positively encouraged Jewish emigration. But still a surprising fact.