This is a purley politically motivated change. Even they have released cutting tax for the richest is not a great look at the moment. This is about trying to get polling figures moving back in their favour. It won't work but that is what they are trying to do.Quite. I don’t think it will help much, it’ll just add to the general sense that they don’t know what they’re doing
I think a lot of the damage has already been done. This was actually a relatively small part of the whole shitshow they announced but showing that level of incompetence in a) announcing it and b) reversing it is what will have spooked global investors
Edit: The markets obvs dont actually give a fuck about the morals or otherwise of Truss/Kwarteng's plan. They're pragmatic. I think only a change of leadership will reduce the damage. Surely even Tories can see that.
You're the one who appears to be seriously arguing with someone on the internet that a picture of a Moomin isn't a picture of another poster.It’s a picture of a Moomin. Grow up
In 2013, the estimated total income across those earning more than £150k was £90bn (here: Laffer curve - Wikipedia). Presumably, it’s more now at the very least by an inflationary level. So I think the bit you’re missing is the balance between what people would pay if they didn’t change their behaviour versus the bit if they do change their behaviour. I don’t know how any of the estimates have actually been calculated, though.As an aside, it's interesting to note that if dropping the over £150k band from 45% to 40% only costs £1 or 2biliion, this means that increasing it by 11 x 5% (to create a 100% income tax) would only gain you £11-22billion which doesn't even get you halfway to compensating for the >£40billion cost of reducing the 20% rate to 19%.
Unless I have got my arithematic wrong.
Presumably the 100k-150k band is actually the one where you could make a more meaningful difference?
Wtf are you on about? What’s any of this got to do with Moomins?You're the one who appears to be seriously arguing with someone on the internet that a picture of a Moomin isn't a picture of another poster.
Maybe it's you who should "grow up"...
Changing behaviour mainly meaning putting more effort into tax avoidance? Or also the result of salaries generally dropping because there's no point in paying people over a certain amount.In 2013, the estimated total income across those earning more than £150k was £90bn (here: Laffer curve - Wikipedia). Presumably, it’s more now at the very least by an inflationary level. So I think the bit you’re missing is the balance between what people would pay if they didn’t change their behaviour versus the bit if they do change their behaviour. I don’t know how any of the estimates have actually been calculated, though.
Either and both. The point is that you can’t really say what the impact of changing the tax rate will be on the tax take for more than pretty small intervals. Extrapolating from a 5% impact to the effect of 100% doesn’t work.Changing behaviour mainly meaning putting more effort into tax avoidance? Or also the result of salaries generally dropping because there's no point in paying people over a certain amount.
I guess I'm sort of aware of that in principle, but it seems like extrapolating it ought to overestimate rather than underestimate the benefit.Either and both. The point is that you can’t really say what the impact of changing the tax rate will be on the tax take for more than pretty small intervals. Extrapolating from a 5% impact to the effect of 100% doesn’t work.
Wtf are you on about? What’s any of this got to do with Moomins?
so is gordon top charisma or tony top?1) Gordon Brown
2) Liz Truss
3) John Major
4) Boris Johnson
5) Teresa May
6) David Cameron
7) Margaret Thatcher
8) Tony Blair
I'm guessing Blair. Otherwise he reckons Truss is the second most charismatic PM in recent memory and that's clearly madness so...so is gordon top charisma or tony top?
his hat's not that goodbut teachter really is a moomin with a top hat
so is gordon top charisma or tony top?
I'm guessing Blair. Otherwise he reckons Truss is the second most charismatic PM in recent memory and that's clearly madness so...
there's something about Tony Blair that makes me immediately think "my god don't trust this psychopath, get him away from me asap" and that makes him the least charismatic
world-beating ballshit.I mean BJ had loads of charisma but also everything he said was ballshit
so is gordon top charisma or tony top?
Gordon. I guess for most people it's the reverse. People are weird.
I'm guessing Blair. Otherwise he reckons Truss is the second most charismatic PM in recent memory and that's clearly madness so...
Aside on the entirely apolitical question of charisma:
It's a very subjective thing. Not being a slick and smooth talker myself means I'm not at all put off by Truss's lack of slickness in interviews and I find the sniggering about it says more about the sniggerers than it does about Truss. Obviously her politics are terrible and the fanaticism that drives her premiership has backfired badly in a way that's both hilarious and terrifying. But on a personal level I find her perfectly charming.
In terms of prime ministers I have a living memory of I would rank them as follows in terms of charisma:
1) Gordon Brown
2) Liz Truss
3) John Major
4) Boris Johnson
5) Teresa May
6) David Cameron
7) Margaret Thatcher
8) Tony Blair
Margaret Thatcher is an interesting case in that she was actively going for dislikable but there's something about Tony Blair that makes me immediately think "my god don't trust this psychopath, get him away from me asap" and that makes him the least charismatic (and the worst communicator for that matter - try using some verbs you pretentious weirdo!!) even beating Thatcher. I felt that way before he was Labour leader btw so nothing to do with his record in government. Gordon Brown was, of course, absolutely charming, so bad at being fake he failed at faking being fake (still terrible politics and record in government of course).
All in all I actually don't think how likable someone is makes much difference in terms of how willing people are to vote for them as PM. People generally aren't this shallow, and want someone who "gets things done" (whatever those things may be) rather than charms them.