tag:blogger.com,1999:blog-1141932539860553199.post2012443877028769065..comments2024-03-05T10:52:24.691+00:00Comments on Mark Wadsworth: Outbreak of commonsense in the tax world...Mark Wadsworthhttp://www.blogger.com/profile/07733511175178098449noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-1141932539860553199.post-80393287319421652012016-11-07T22:31:33.131+00:002016-11-07T22:31:33.131+00:00@Bayard
My ball park figures are
Compliance...@Bayard<br /><br />My ball park figures are<br /><br /><br /> Compliance and administration £5 billion<br /> Churning £23 billion<br /> Downstream @ 10% £33 billion<br /> Deadweight @ £25 billion<br /> Consequential additional welfare costs @ £6 billion.<br /><br />This indicates a total loss of £69 billion ie two-thirds of the revenue is swallowed up in costs and losses.<br /><br />Is this hopelessly out?<br />Physiocrathttps://www.blogger.com/profile/13682019625346594568noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-38236581825425446552016-11-07T21:25:08.325+00:002016-11-07T21:25:08.325+00:00P, but the costs, losses and churning are nearly a...P, but the costs, losses and churning are nearly all borne by the taxpayer, not the tax collector.Bayardhttps://www.blogger.com/profile/15211150959757982948noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-55608656757597016352016-11-07T21:13:52.995+00:002016-11-07T21:13:52.995+00:00How much is really left of the £110 headline figur...How much is really left of the £110 headline figure for VAT receipts after all the costs, losses and churning are taken into consideration?Physiocrathttps://www.blogger.com/profile/13682019625346594568noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-83472889740257624252016-11-07T20:09:24.005+00:002016-11-07T20:09:24.005+00:00B, TBH was being ironic!
L, exactly and agreed.B, TBH was being ironic! <br /><br />L, exactly and agreed.Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-7884994557173405912016-11-07T20:04:17.451+00:002016-11-07T20:04:17.451+00:00B - 'an increase in their profit's, until ...B - 'an increase in their profit's, until competition kicks in. And then they'll sell more widgets at the lower price anyway, so more profits. Whatever way you look at it VAT is a very stupid idea, and guess who's favourite tax it is? The EU. Obviously.Lolahttps://www.blogger.com/profile/04586735342675041312noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-15063014686733225492016-11-07T18:47:16.525+00:002016-11-07T18:47:16.525+00:00"Why would businesses care about taxes on con..."Why would businesses care about taxes on consumption or their employees? Not their problem."<br /><br />It is their problem, because they are the ones that pay the VAT. Buyers don't have one budget for buying stuff and another for paying VAT, so whether VAT is being charged or not, the price remains the same - what the buyer is prepared to pay. So a reduction of VAT is an increase in their profits.Bayardhttps://www.blogger.com/profile/15211150959757982948noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-2803682832063582802016-11-07T18:18:10.928+00:002016-11-07T18:18:10.928+00:00TBH, LOLS and no, it probably didn't. I do thi...TBH, LOLS and no, it probably didn't. I do this for sport.Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-15497745196074956502016-11-07T15:08:43.151+00:002016-11-07T15:08:43.151+00:00Sorry- I don't mean to be the troll of the blo...Sorry- I don't mean to be the troll of the blog! I'm very pleased that there are so many seeming outbreaks of common sense in these matters- and I wonder if this blog has had any small contribution in that...ThomasBHallhttps://www.blogger.com/profile/08998362261169422976noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-72830222298957194122016-11-07T14:43:13.753+00:002016-11-07T14:43:13.753+00:00Why would businesses care about taxes on consumpti...Why would businesses care about taxes on consumption or their employees? Not their problem.ThomasBHallhttps://www.blogger.com/profile/08998362261169422976noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-12961149568169712262016-11-07T14:35:33.801+00:002016-11-07T14:35:33.801+00:00B, that'll never happen.B, that'll never happen.Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-66215520997546414192016-11-07T13:07:08.529+00:002016-11-07T13:07:08.529+00:00What next; the Treasury admitting national insuran...What next; the Treasury admitting national insurance is a tax?Bayardhttps://www.blogger.com/profile/15211150959757982948noreply@blogger.com