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Give City's bonuses to the poor
12-02-2007, 04:11 PM
Post: #1
Give City's bonuses to the poor

Quote:City high-fliers should lose two thirds of their bonuses to deprived communities, claims Peter Hain, a candidate for Labour's deputy leadership. Their firms could otherwise face heavier regulation and tax.
Sunday Telegraph

Full story


What do you think?

Enlightened politics or a quick way of encouraging high earners to go and work in Switzerland?

"You can put lipstick on a pig...but it's still a pig!!!"
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12-02-2007, 06:36 PM
Post: #2
Give City's bonuses to the poor
don't these bonuses generate a helluva lot of tax revenue for the government? I'd like to see politicians giving up their money instead of you poor city folk being made to feel guilty.

... so what does it amount to in terms of your bonus Groucho? £2.50?

... i only came online to visit Delia's site for tips on how to season a frying pan ...
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13-02-2007, 11:47 AM
Post: #3
Give City's bonuses to the poor
Slightly less after tax! :angry:

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17-02-2007, 11:10 AM
Post: #4
Give City's bonuses to the poor
I read about this.

It'll never happen.....
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19-02-2007, 03:55 AM (This post was last modified: 19-02-2007 04:00 AM by Northern angel.)
Post: #5
Give City's bonuses to the poor
First bit of sense I've read from a labour MP for years, and in truth many of these highly paid people aren't worth the salaries and obscene bonuses they earn.

The bonuses referred to are not the ordinary ones paid to very ordinary workers. These are the bonuses paid to the fountain heads of industry, manufacturing, banking institutions and the utilities providers of water gas and electricity.

I would also like to see MP's however also include themselves in this especially when some hold two positions one as an MP and the other on some extremely lucrative board of shareholders or a management commitee. In truth an MP's end salary could equate to that of a fat cat industrialist. Better still MP's should not be allowed to hold down two jobs or act on any board of official investors.

I do foresee a number of problems here though and that is how do you do it? Do you raise taxation to an uncomfortable level, do you introduce pay capping, do you introduce a special tax on the owners of two properties or more, do you prohibit the investment of money earned in Britain being invested abroad or do you tax it first.

I also foresee a problem in the way in which monies would go into the community, this is evident with Camelot who do award some concerns in impoverished communities youth centres, canooing and venture holidays for children from broken homes, or charitable concerns hospices, oap centres etc it only makes a difference to a select few. The remaining monies gather in the Camelot coffers having no set homes to go to as unclaimed cash.

The poor stay poor.

Maureen
Northern angel.

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19-02-2007, 09:47 AM
Post: #6
Give City's bonuses to the poor
Northern angel Wrote:in truth many of these highly paid people aren't worth the salaries and obscene bonuses they earn.

How do you know?

Quote:These are the bonuses paid to the fountain heads of industry, manufacturing, banking institutions and the utilities providers of water gas and electricity.

Wtf is a fountain head?

Quote:Better still MP's should not be allowed to hold down two jobs or act on any board of official investors.

What is an "official investor"? Are there unofficial investors as well?

Quote:Do you raise taxation to an uncomfortable level, do you introduce pay capping

Good old style Labour solution.....instead of trying to make everyone wealthier, lets make everyone poorer!

Quote: do you prohibit the investment of money earned in Britain being invested abroad or do you tax it first.

Currency controls.....yes, they've always worked in the past, haven't they?

Money earned in Britain is taxed!!! I think you need to do a bit more research.


Quote:I also foresee a problem in the way in which monies would go into the community

I'm quite interested in your plans for all this confiscated cash.

If you just give it to the poor, could you explain where the incentive is for people to actually get off their arses and do anything for themselves?

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19-02-2007, 08:36 PM
Post: #7
Give City's bonuses to the poor
Groucho Wrote:How do you know?

[COLOR="DarkRed"]Hello Groucho, you know what I mean. The salaries some people are paid is obscene. Who in hell is worth 250k a year or more. Nobody. I'd like to say that there are a number of people in this over paid list footballers, so called TV hosts and entertainers, music industry moguls. [/COLOR

Wtf is a fountain head?

We all know who these people are the chairman and chief executive of the water board or gas company and a few more besides. What's more it is consumer money they pay themselves with. The fact that the cost of these essential utilities has gone up extortionately over the last few years means the consumer is landed with increased bills and failing services. In Durham last week 700.000 houses had no gas for days and albeit the frail were given heaters and a few other bits to keep them going, absolutely nothing was done for the rest of the community.

What is an "official investor"? Are there unofficial investors as well?

Companies house keeps a register of all shareholders in every public and private floated company. The major shareholders tend to be those in the hierarchy of the company. Some companies award shares and profits as commission therefore increasing private holders from within. Small shareholders are eventually whittled out.

Good old style Labour solution.....instead of trying to make everyone wealthier, lets make everyone poorer!

This is a real puzzle, at present we have a government obsessed with means testing so this comment is a justifiable one, as soon as you have something behind you, you are classed as wealthy. I actually think they need to look at thresholds again and raise them.

Currency controls.....yes, they've always worked in the past, haven't they?

Money earned in Britain is taxed!!! I think you need to do a bit more research.

Taxation needs looking into again also. As although corporation tax is levied according to profits and companies often do claim against this donations made to charities etc and likewise the charities can get so much more from the tax office. An awful large amount of bonuses seem to get awarded out to those in the higher income bracket, with paltry amounts filtering down to the ordinary worker.


I'm quite interested in your plans for all this confiscated cash.

If you just give it to the poor, could you explain where the incentive is for people to actually get off their arses and do anything for themselves?

[COLOR="DarkRed"]The sheer mass of numbers of those who are poor can include some who are in fact working for the minimum wage. Some who receive the minimum wage for part time hours and they are also below the National insurance and tax thresholds as employers avoid, employing such workers not wishing to enter into all the paper work that goes with this from the Department of works and pensions. If no national insurance contributions are paid and some workers do not ask for them to be credited on grounds of low income, they will have no pension rights come retirement day.

You could say these people should get themselves another job, but if they have been employed as a means of cheap labour. The likelihood of them being able to improve there lot is grim.

Incentive is also a weird thing as if society constantly awards those who are mediocre or maybe already wealthy it actually works the other way. Killing the incentive nature of man on the bottom. Money goes to money philosopy.[/COLOR]

Maureen
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19-02-2007, 08:58 PM
Post: #8
Give City's bonuses to the poor
With the greatest respect Mo, it's been quite a while since I read a post that was such alot of bollox.

Come to think of it, the last one may have been yours as well.


Quote:chief executive of the water board or gas company and a few more besides.

I think you'll actually find that these headlines are about hedge fund managers and other City types pulling down bonuses that utility managers could only dream of.


Quote:Companies house keeps a register of all shareholders in every public and private floated company.

When a private company floats, it becomes public.

Private floated company is a contradiction in terms and shows that you dont know what you're talking about.

Quote:The major shareholders tend to be those in the hierarchy of the company.

Once again, utter rubbish.

Most large companies will be owned by pension funds and large institutional investors.

Quote:An awful large amount of bonuses seem to get awarded out to those in the higher income bracket

This one really made me p*ss myself laughing!!!! :laugh: :laugh: :laugh: <--see?

That's how they end up in the higher income bracket you doughnut!

It's the same as saying "most people who get low salaries end up in the lower income bracket"!!

Quote:Incentive is also a weird thing as if society constantly awards those who are mediocre or maybe already wealthy it actually works the other way. Killing the incentive nature of man on the bottom. Money goes to money philosopy.

Rubbish, rubbish, rubbish.......the incentive is that everyone has the same opportunity to get rich or stay poor!

Take away the incentive to get rich via taxation and we all lose the will to live, much as I suspect I will if you bother to respond to this post.

Cool

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21-02-2007, 07:02 PM
Post: #9
Give City's bonuses to the poor
My solution is to take away the bonuses - as per Peter Hain - and also to take away their passports, thus preventing them fleeing to Switzerland.

Sorted! Smile

Mick Smile
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22-02-2007, 03:23 AM
Post: #10
Give City's bonuses to the poor
Well done Mik.

Is there a bone in your body that is actually prepared to incentivise the creation of wealth, or can you only get as far as taxing it?

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