Ritchie on the 50 p rate

Finally, I argue that whilst there are still routes open to those who seek to avoid paying tax at the 50p rate which do have potential to undermine the revenues that it could raise this loss of income to the Exchequer is not inevitable. These routes could be easily closed if the political will existed to introduce both a comprehensive general anti-avoidance principle in UK tax law and to tackle the issue of personal service companies to ensure that the profits of these companies were assessed on their owners at the time they arise and not at the time that they are paid out to them, as now.

Well, yes, I\’m sure that\’s true. But it also isn\’t the point at issue. Which is, under our current tax system is the 50 p rate raising revenue or not?

The answer that \”if we stop everyone doing what I did for a decade it will\” isn\’t all that convincing really.

8 thoughts on “Ritchie on the 50 p rate”

  1. Tell you what, let’s all just pay 100% tax and let Murphy give us whatever pocket money he thinks we ought to have. That way he’ll have nothing to moan about and will finally shut the fuck up.

  2. Ian

    Sorry, wrong. Even if we give him 100% he will find something else to whine about.

    It’s what he does. He is terminally ‘redistributive’ and after taking everything he will have a whale of a time on that side of things.

  3. Totally off topic, but somethings are more important than life, death and politics.

    If there are any Man Utd. fans on this blog, I am waiting for your congrats to Athletic Bilbao for last night’s great game.

    Weren’t we good?

  4. @Ian Bennett

    “That way he’ll have nothing to moan about and will finally shut the fuck up.”

    Yes, that’s what the neo-liberals really want isn’t it?

    All opposition to their wacky ideas to be “shut up”.

  5. BenM

    No we don’t want anybody to’ be shut up’.

    We are not like that round here. We don’t ‘do opponents in’. We debate, but man, does RM debate? I’ll answer that, No!

    Purveyors of ill-thought out ideas (the words most frequently found on RM’s blog when I bothered to go there were ‘Now, I haven’t thought this through’…. or ‘this is a work in progress…’ and good grief did it show..

    And ploughing through it, the whole grandiose edifice collapses under the weight of:
    – its lack of thought
    – glaring data errors
    – lack of expertise in his chosen areas…
    yes and even
    – Wacky ideas

    What did Thumper’s Dad say to him in Bambi? “If you’ve got nothing useful to say, then say nothing at all”

  6. BenM , I don’t necessarily want him to “be shut up” (in a forceful way, by someone else), but I would certainly be more happy if he would, voluntarily, shut up. (Yes, I know, I don’t have to read what he writes, blah, blah.)

  7. bilbaoboy

    As an ex-Bilbao boy whose heart is still striped red and white like Brighton rock, I’m waiting for my Mancunian brother-in-law to congratulate me through gritted teeth. He’s probably still got his head under the pillow. My God, wasn’t it fun to watch!

  8. CIngram

    Poetry in motion! Oh, the pleasure. Somebody said somewhere ‘like watching Barcelona on speed’

    Its the only time my kids are allowed to have dinner watching the telly. There are somethings that are more important than the deficit, unemployment and not saying anything that just might upset somebody else.

    8,000 happy souls, singing their hearts out, waving their scarves for 90 minutes. Didn’t hear a single MU chant on the telly.

    The Manchester pubs and restaurants will be currently counting the profits (big spenders the bilbainos) and wishing for our return.

    The police won’t have had to deal with any trouble.

    Football like it should be.

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