Post Reply 
 
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Fat Cats And Obscene Untaxed Earnings.
14-12-2005, 05:01 PM
Post: #1
Fat Cats And Obscene Untaxed Earnings.

Hello survivors,

This week in the press I have read numerous articles dealing with the financial bonuses the fat cats of the finance industries award themselves each year. These bonuses are paid in terms of increased shareholdings, liquid assets, and tax free income awards - presumably for work well done and successful trading.

I see big problems with this system of allowing the banks and finance houses to do this in that it is creating;

a) bigger divide between normal income earners and the top 17% or is 20% (Varies according to the newspaper you read) of already overpaid executives.

b) This also adds to the double standards of the banking and financial institutions who already invest and use your money should you hold accounts with them, who in return pay very meagre interest rates or dividends which to you is income that is taxable. You are also charged for the event of services being rendered on certain types of accounts prior to use.

c)the bonuses they award themselves are also obscene in that they aren't just a few hundred pounds or even a thousand pounds tax free, ex-gratia payments for work well done - but we are actually talking here of a million pounds plus, each - to these financiers and executives of banking. The affect of this is in fact asset stripping the industry white, so that in the following year it can't pay its normal investors a decent return. That could be you.

This is of course against a background of NHS problems with funding for urgent operations, funding for the retaining of staffing levels which is posing problems, and funding for medicines to eliminate the postcode lottery for treatments.

Also we have an ageing and growing population who have now grown wise to the fact that private property has to be sold to pay for care home fees until the lower threshold of funds is below £12,000.00 twelve thousand pounds or there abouts as in reality no such 16 thousand pound inheritence threshold exists - should your aunt, your mother or your grandma require care in a residential or nursing home. In other words funds from such properties are being released as small tax free gifts to family members, or properties are placed into schemes where rights are deferred in view of having an increased income. Also previously where a will instigates and names a solo beneficiary that can be over-ridden.

As an average or below average income earner, these fat cat bonuses I feel should be taxed especially if they are at these extortionate industry stripping rates.

What do you feel?

Is it fair to tax or is it a punishment to industry hard workers?

Maureen
nnorthern angel
Find all posts by this user
Quote this message in a reply
14-12-2005, 09:56 PM
Post: #2
Fat Cats And Obscene Untaxed Earnings.
Dear Maureen.

Congratulations.

I dont think I've ever read a post that was so completely full of red top headlines, ignorance and ill-informed sh*t in all my virtual life!

If you'd care to pop off and do the smallest piece of research and come back with any kind of reasoned argument or explanation as to why smart people shouldn't be paid high wages, I'm sure you might get a thread going.

Mindless, pointless, drivel on the other hand might suggest you'd be better off writing a column for the Daily Star.

"You can put lipstick on a pig...but it's still a pig!!!"
Find all posts by this user
Quote this message in a reply
14-12-2005, 10:52 PM
Post: #3
Fat Cats And Obscene Untaxed Earnings.
Have a Christmas hat Groucho Smile

[Image: grouchox.gif]
Quote this message in a reply
15-12-2005, 10:53 AM
Post: #4
Fat Cats And Obscene Untaxed Earnings.
If I didn't have to spread myself around more Crit, I would have given you massive rep for your post. It's made my day!:laugh: :laugh: :laugh:

"You cannot teach people anything. You can only help them discover it within themselves."
Visit this user's website Find all posts by this user
Quote this message in a reply
15-12-2005, 11:45 AM
Post: #5
Fat Cats And Obscene Untaxed Earnings.
Me too!:laugh:

But I did give some to Groucho:boxing:

[SIZE=3]

[url="http://www.TickerFactory.com/"]
[/url]
[/SIZE]
Find all posts by this user
Quote this message in a reply
15-12-2005, 11:50 AM
Post: #6
Fat Cats And Obscene Untaxed Earnings.
lol crit!

sorry NA - agree with Grouch.

I hate bar room political rhetoric bull.:bored:

bam bam
Find all posts by this user
Quote this message in a reply
15-12-2005, 01:15 PM
Post: #7
Fat Cats And Obscene Untaxed Earnings.
Groucho Wrote:Dear Maureen.

Congratulations.

I dont think I've ever read a post that was so completely full of red top headlines, ignorance and ill-informed sh*t in all my virtual life!

If you'd care to pop off and do the smallest piece of research and come back with any kind of reasoned argument or explanation as to why smart people shouldn't be paid high wages, I'm sure you might get a thread going.

Mindless, pointless, drivel on the other hand might suggest you'd be better off writing a column for the Daily Star.

Hi Groucho,

Ok so this post is based upon red top headlines, maybe you think that the media have entirely created this social political tale to just annoy the readers of not just the national press, but local press, educational press and welfare research and social reforms. Research we could say can be made to interpret matters very differently.

These articles weren't just questioning why smart people should have high wages, the articles referred to untaxable bonuses at assett stripping rates.
The housing barriers may be narrowing between North and South. But wage levels most definitely haven't. Income whichever way it is gained is supposedly taxable at all levels that way everyone contributes to the system in the most rational and fairest way.

On the subject again on research, I many years ago to attain the degree that I have as a qualified Sociologist and Historian, can not accept that in todays age when we are sopposedly more civilised that there still exists areas of depravation and ill health not being catered for in terms of treatment.

Maureen
Northern angel
Find all posts by this user
Quote this message in a reply
15-12-2005, 02:30 PM
Post: #8
Fat Cats And Obscene Untaxed Earnings.
Tigereye Wrote:lol crit!

sorry NA - agree with Grouch.

I hate bar room political rhetoric bull.:bored:


HelloTigereye,

Sorry, to disappoint, I'm not into bar room political rhetoric either. Too many readers of the Sun and the Daily Star with a totally abstract view of reality.

Maureen
Northern angel.
Find all posts by this user
Quote this message in a reply
15-12-2005, 06:38 PM
Post: #9
Fat Cats And Obscene Untaxed Earnings.
Northern angel Wrote:On the subject again on research, I many years ago to attain the degree that I have as a qualified Sociologist and Historian, can not accept that in todays age when we are sopposedly more civilised that there still exists areas of depravation and ill health not being catered for in terms of treatment.

Maureen
Northern angel

Hi Maureen. Congratulations on the degree. Re your first post:

your point (a) - should there not be a divide between the pay awarded to the top and lowest earners in an organisation, assuming there should be what are you saying that divide should be?

your point (b) - what are the double standards and what have interest rates got to do with it?

your point © - what do you mean asset stripping, - it's part of the payment system and isn't that separate from assets?

your next points - what have the NHS and care homes
got to do with it?

Overall, are you just saying that you think these payments should be taxed, if so why?
Find all posts by this user
Quote this message in a reply
15-12-2005, 09:47 PM
Post: #10
Fat Cats And Obscene Untaxed Earnings.
OK, where shall we start?

What exactly is a fat cat and why aren't they paying taxes?

As far as I know, Gordon Brown has made it very difficult for employees to avoid paying tax on UK earnings.



Quote:The affect of this is in fact asset stripping the industry white



Which companies are being asset stripped?

If investors aren't being paid a decent return, why dont they invest somewhere else?

If you're talking about city traders and corporate bankers who are widely reported to be expecting good bonuses this year, have you any idea how this money is made or who pays the fees?


Most of the biggest bonuses will be paid by foreign banks.

Big international banks like London because of it's relatively low regulatory demands, it's pro-business attitude, it's time zone and the fact that we're not French.

Employees like London because we pay some of the lowest taxes in Europe (at the moment).

If you start hitting banks and high earners with "super tax" what do you suppose will happen?

Yes, they'll all f*** off and do their business elsewhere and fill the treasury coffers of some other lucky country.

The City of London's finance industry is the biggest invisible earner this country has. Tax it unfavourably and it will disappear.

You will end up with less money, not more.


I'm afraid I dont understand your point about the NHS, other than to say that I would image a large percentage of tax pounds from the City end up in the NHS.

The bit about pensions and elderly care just sounds like a bit of a rant.Huh


The bit about interest on savings is confusing me.

It's a free market, you can put your savings where you like.

Banks will pay the smallest amount of interest they can get away with.

But the contract is that you give them money, they pay you interest.
How they make the money to pay your interest is up to them surely?

Quote:I many years ago to attain the degree that I have as a qualified Sociologist and Historian, can not accept that in todays age when we are sopposedly more civilised that there still exists areas of depravation and ill health not being catered for in terms of treatment.

Once again, I'm struggling to see the link here.......surely this is about Government policy rather than individual pay and taxation?

"You can put lipstick on a pig...but it's still a pig!!!"
Find all posts by this user
Quote this message in a reply
Post Reply 


Forum Jump:


User(s) browsing this thread: 1 Guest(s)