Scottish Referendum / Independence - Vol 8

[Evercross]

Meanwhile, the Finance Secretary who famously said

he'd never heard of the Laffer Curve (page 9)

gets a timely lesson in the effects of the Laffer Curve.

Couldn't make it up!

[simoid]

One has to Laff...

[Borghetto]

But Edinburger was cawing about the extra tax being paid by Scotland, justifying the little perks like free University. So he was talking complete coblers then - Quelle surprise!

[Fastdruid]

Edinburger said:

Evercross said:

hidetheelephants said:

Keeping Sterling is not compatible with EU membership nor entry to the eurozone, that much was made clear in 2014, never mind the concept of the BoE being LOLR is slightly less popular with most non-SNP politicians than a stale st sandwich.

The party members know that Scotland having its own currency is the only viable first step forward. Remember - all the other suggestions were made in the days when Salmond the liar was in charge. The current fluff about Sterlingisation is just the party executive slowly backing away from Salmond's lies.

Or pegging sterling?

I'll post it again. I'm hoping *one* of these days you may read it.

https://www.these-islands.co.uk/publications/i330/...

[simoid]

Borghetto said:

But Edinburger was cawing about the extra tax being paid by Scotland, justifying the little perks like free University. So he was talking complete coblers then - Quelle surprise!

Individual Scottish residents pay more than their similarly earning English countrymen, but for some reason Scottish tax revenues are lower than expected

[Welshbeef]

simoid said:

Individual Scottish residents pay more than their similarly earning English countrymen, but for some reason Scottish tax revenues are lower than expected

If I lived in Scotland and didn’t want to relocate to a lower UK tax base and I was happy with my job a given the tax drift from U.K. I would be putting MORE into my pension. So Scottish govt lose the income tax revenue and instead rebate it into personal pensions.

[simoid]

Welshbeef said:

If I lived in Scotland and didn’t want to relocate to a lower UK tax base and I was happy with my job a given the tax drift from U.K. I would be putting MORE into my pension. So Scottish govt lose the income tax revenue and instead rebate it into personal pensions.

Absolutely. Who in their right mind is going to work £2k gross for £960 net when you could make it £1500+ net in a pension fund?

[Welshbeef]

simoid said:

Welshbeef said:

If I lived in Scotland and didn’t want to relocate to a lower UK tax base and I was happy with my job a given the tax drift from U.K. I would be putting MORE into my pension. So Scottish govt lose the income tax revenue and instead rebate it into personal pensions.

Absolutely. Who in their right mind is going to work £2k gross for £960 net when you could make it £1500+ net in a pension fund?

Unintended consequences.

As an aside can Scotland change the rules for tax rebates on investing into a pension or is that a U.K. wide statute?

[Borghetto]

Fastdruid said:

I'll post it again. I'm hoping *one* of these days you may read it.

https://www.these-islands.co.uk/publications/i330/...

If I were a Scot that paper would certainly give me pause for thought. Of course the currency issue is only one of many an indy Scotland would have to address. If Scotland had voted Yes in the referendum based on the white paper proferred by the SNP - what a mess they would now be in.

[Evercross]

Welshbeef said:

Unintended consequences.

As an aside can Scotland change the rules for tax rebates on investing into a pension or is that a U.K. wide statute?

They could, but that would be kicking the already fragile Scottish-based financial institutions in the nuts.

I am curious though to se how the SNats intend to spin the consequential shortfall of their tax policies. Never has there been a more scientific demonstration of Laffer's theory - two populaces taxed identically, then the policies diverge so that one group is taxed at a higher rate but because the data from both groups is being handled by the same agency they can compare actual intake with projections down to the penny, and lo-and-behold....!

https://www.bbc.co.uk/news/uk-scotland-50385954

Edited by Evercross on Wednesday 13th November 06:46

[irc]

Welshbeef said:

If I lived in Scotland and didn’t want to relocate to a lower UK tax base and I was happy with my job a given the tax drift from U.K. I would be putting MORE into my pension. So Scottish govt lose the income tax revenue and instead rebate it into personal pensions.

Exactly what I will be doing. Currently any overtime gets me into the 41% bracket at £43430

I'll be paying anything over that number into a pension. The SNP will get nothing. If they had the higher rate band the same as England they would get more tax from me. Not less.

[alangla]

irc said:

Welshbeef said:

If I lived in Scotland and didn’t want to relocate to a lower UK tax base and I was happy with my job a given the tax drift from U.K. I would be putting MORE into my pension. So Scottish govt lose the income tax revenue and instead rebate it into personal pensions.

Exactly what I will be doing. Currently any overtime gets me into the 41% bracket at £43430

I'll be paying anything over that number into a pension. The SNP will get nothing. If they had the higher rate band the same as England they would get more tax from me. Not less.

Bear in mind that's actually 53% tax+NI you'd be paying, not the 42% (40+2) that going up a band at 50k would be in the rest of the UK

[Evercross]

Derek MacKay caught fiddling the figures and reversing the message once again.....

SNP minister Derek Mackay slammed by expert for ‘misuse’ of youth unemployment data.

Derek MacKay really is a dangerous person. Diane Abbot is a figure of ridicule because of her innate innumeracy, and MacKay shares the same incompetence but with it a level of arrogance that tells him in his mind that the truth doesn't matter as long as he gets his message across.

[Pastor Of Muppets]

Evercross said:

Derek MacKay caught fiddling the figures and reversing the message once again.....

SNP minister Derek Mackay slammed by expert for ‘misuse’ of youth unemployment data.

Derek MacKay really is a dangerous person. Diane Abbot is a figure of ridicule because of her innate innumeracy, and MacKay shares the same incompetence but with it a level of arrogance that tells him in his mind that the truth doesn't matter as long as he gets his message across.

Sadly this example is just the tip of the iceberg of SNP deceit and general fact molesting. Said it before and will say it again, if Scotland only had a credible opposition these hoodwinking shicers would be out on their ass.

[irc]

alangla said:

Bear in mind that's actually 53% tax+NI you'd be paying, not the 42% (40+2) that going up a band at 50k would be in the rest of the UK

Oh I know! Also 9.5 superannuation. So for every quid I see around £0.38 in my pocket.
And even worse if I am a higher rate taxpayer I lose the marriage allowance worth £250 a year. So I need to earn £250 (net) to break even.

So if I earned 44430. I'm £1000 into the higher rate band. But will pay 41% on that 1000 and also lose around £250 from losing the marriage allowance. So an effective rate of around 75%with NI included.

So end of March I'll work out roughly where I'll be and make a big enough pension contribution to ensure I don't pay higher rate tax.

SNP bugger off.

Edited by irc on Wednesday 13th November 13:15

Edited by irc on Wednesday 13th November 13:16

[rossub]

Pastor Of Muppets said:

Evercross said:

Derek MacKay caught fiddling the figures and reversing the message once again.....

SNP minister Derek Mackay slammed by expert for ‘misuse’ of youth unemployment data.

Derek MacKay really is a dangerous person. Diane Abbot is a figure of ridicule because of her innate innumeracy, and MacKay shares the same incompetence but with it a level of arrogance that tells him in his mind that the truth doesn't matter as long as he gets his message across.

Sadly this example is just the tip of the iceberg of SNP deceit and general fact molesting. Said it before and will say it again, if Scotland only had a credible opposition these hoodwinking shicers would be out on their ass.

The problem is their supporters are so blinkered and/or thick that they just stick their fingers in their ears to this kind of stuff and go 'La La La La La'

I'm not sure a strong opposition would make any difference to the '45'. Independence at any cost....

[Evercross]

We all know Blackford is an arrogant charlatan, but here's his latest bare-faced piss-take.

The UK should not be investing in weapons of mass destruction

Golden Charter Trust

Hmmm. I wonder who that fat grinning barsteward at the front is?

Investment Managers

Oh, Artisan Partners. I wonder who they invest in.....

Artisan Report 2019

Harris Corp. What is it they make again?!

Artisan Value Fund Statement

Raytheon Co. What's their business exactly?!

So, the UK should not invest in WMDs but it is OK for the 'humble crofter' to invest in and benefit from the wealth generated by their sale personally it seems. I've said it before and I'll say it again - Blackford makes Boris look like Mother Theresa. No wonder no-one likes him.

rossub said:

The problem is their supporters are so blinkered and/or thick that they just stick their fingers in their ears to this kind of stuff and go 'La La La La La'

Indeed, and that blinkered support opens the door to all sorts of human detritus wearing a yellow-and-black rosette to gain political power.

Our other resident SNat Strocky hasn't appeared for a while. As a person of principle I'd like to know how he sleeps at night legitimizing snakes like Blackford?

Edited by Evercross on Wednesday 13th November 14:38

[hidetheelephants]

Not fit to run the rowing boats on Hogganfield Loch, never mind a ferry company.

[AstonZagato]

Evercross said:

We all know Blackford is an arrogant charlatan,


Golden Charter Trust

Golden Charter are charlatans - missold a "family trust" to my mother with dementia and (thankfully, in this case) failed to complete the paperwork correctly (as it allowed us to unwind it and be re-imbursed).

Funeral plans and inheritance tax schemes peddled by such firms will be a future mis-selling scandal, I suspect.

[Evercross]

AstonZagato said:

Golden Charter are charlatans - missold a "family trust" to my mother with dementia and (thankfully, in this case) failed to complete the paperwork correctly (as it allowed us to unwind it and be re-imbursed).

So, Blackford graduated from the same school of business ethics as his compatriots Tasmina and Michelle Thomson it would seem.

Were you previously aware of his chairmanship of said organisation, and if not would you now consider taking the news of your experience to a suitable media outlet, or perhaps to your future MP to raise in the House (assuming they are not of the yellow-and-black variety and bd Blackford inexplicably gets re-elected)?

Edited by Evercross on Wednesday 13th November 18:43