tag:blogger.com,1999:blog-1141932539860553199.post1838780682611307486..comments2024-03-05T10:52:24.691+00:00Comments on Mark Wadsworth: What is it with the 'Rich'?Mark Wadsworthhttp://www.blogger.com/profile/07733511175178098449noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-1141932539860553199.post-57589374307601280442015-03-26T18:20:45.905+00:002015-03-26T18:20:45.905+00:00While import duties and VAT and so on are bad taxe...While import duties and VAT and so on are bad taxes, a 38% tax on records is not going to make much difference.<br /><br />Demand is relatively price insensitive. <br /><br />If you are a big fan of XYZ, you are happy to pay £15 for their newest album. Other people will not buy it until it has dropped to £10 or £5, most people don't like XYZ and will never buy it, they wouldn't want it even if it were free.<br /><br />So if the initial price went up to £20, then quantity sold would not fall by anywhere near one-third or one-quarter.Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-9823597703372560712015-03-26T18:18:59.753+00:002015-03-26T18:18:59.753+00:00OTOH, while import duties and VAT and so on are ba...OTOH, while import duties and VAT and so on are bad taxes, a 385 tax on records is not going to make much difference.<br /><br />Demand is relatively price insensitive. <br /><br />If you are a big fan of XYZ, you are happy to pay £15 for their newest album. Other people will not buy it until it has dropped to £10 or £5, most people don't like XYZ and will never buy it, they wouldn't want it even if it were free.Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-8787656755423090492015-03-26T15:11:47.091+00:002015-03-26T15:11:47.091+00:00They are all the same arguments that Branson and c...They are all the same arguments that Branson and cohorts in the 'Britiain in Europe' group used in the 90s to push us to join the Euro... <br /><br />Big multinationals who have the scale to lobby Europe for protectionist rules and standards that inhibit competition are natural fans of Brussels.ontheotherhandhttps://www.blogger.com/profile/15679900095175729353noreply@blogger.com